Trade Property Insurance

No.  Thats why initio is so good. You can insure the property on a Month-to-Month insurance policy.  When the property sells you can simply turn the cover off through your online dashboard.

Enter the brief details about the property, choose an insured value, and choose ‘Trade Property’ from the property type drop down list.  You’ll have a quote in seconds and you can then be insured in minutes.

Insure your trade property for the amount it would cost to replace it with a new one. You also need to include extra things like fences, driveways, and swimming pools. And you will want to add in a provision for the inflation in the cost of materials and the cost to demolish and clean up the site. It is recommended that you use an online tool such as Cordell or obtain a valuation from a quantity surveyor such as CCC. See here for more information about a rebuild valuation.

Learn more about calculation the insured value of your home.

The only payment method for monthly payments is by Credit Card.  We will charge your credit card every month and will email you when we do this.
This payment methods keeps things digital and means premiums stay down

Simply login to your initio dashboard and select the button ‘Make Claim’.  Answer some simple questions about the loss or damage and you are good to go.  In all cases of loss, its important to act as you would normally if you were not actually insured – then let us know as soon as you can and we will pick up the pieces.
Everytime there is an update on your claim the status on your dashboard will update also.  You will also receive an email notifications as the claim progresses.   We are dedicated to making the claims process as quick and easy and possible

The standard excess for claims for Trade Properties is $5,000.  For burglary, break-in or attempted break-in claims this excess will reduce to $1,000 if at the time of the incident you have a monitored, audible alarm operating the property.

If the construction involves removing the roof, an external wall/cladding, or is structural in nature the initio insurance policy will NOT cover the loss if it was caused by that work.  For example if you are re-roofing the property and part way through the work a major storm hits the region and the property sustains water damage there is no cover for this damage.

If you are doing major works like re-roofing and adding onto the property you will need to contact us to get a additional ‘Contract Works Insurance Policy’.

If the work is not major eg renovations, like carpet, kitchen replacement, bathroom upgrade – then the initio policy provides automatic cover.   The general rule is that if it is schedule 1 work then its insured.

Yes, the general rule of thumb is that if it is renovation work such as kitchen refit, carpet, painting, new bathrooms then accidental damage to the work and any loss the work causes is insured by the initio policy.
If you are doing major alterations, structural work, removing exterior cladding, removing windows/joinery or doing roofing work the initio policy will not provide cover for damage related to this work.

Yes, you automatically receive $20,000 of contents cover.  You can choose to increase this amount.

Simply login to your initio dashboard and click ‘Cancel cover’ next to the property you have sold.

The system will calculate a pro-rata refund of that months premium and refund this to your credit card.  All future monthly payments will be stopped.