Loss of rent
Our policy will fully pay for loss of rent caused by:
We’ll make sure you still have income from your property to meet your expenses.
When a claim is paid for loss of rent, the bond is retained by the property manager to cover re-letting expenses.
Loss or damage – Building (limited cover)
Our policy covers your property against loss or damage
We’ll cover your legal liability as a landlord for an occurrence which causes:
intentional damage: $500 per claim
This is a brief outline of the main features of the Landlord Preferred Policy. For full details of the terms, conditions, limits and exclusions, refer to the policy wording booklet.
Loss or damage – Contents
Our policy covers general household contents including carpets, curtains, blinds, light fittings and even furniture left for the tenant’s use. These items are covered against loss resulting from:
We’ll repair or replace your damaged items under the Building or Contents Section of the Policy to a combined amount of $25,000. Earthquake damage is excluded.
Important information about the policy
The printed policy document explains the insurance you are arranging in detail. There are some important provisions in the policy which you should understand, otherwise there may be disappointment when you wish to make a claim.
You should also know that the excess applies to most claims. An excess is an amount which you must pay before a claim can be made under the policy.
Important Notice – Your duty of disclosure
“You”, “your” means all persons named in the policy as the insured and “we”, “our”, “us” means the insurers through their agent, NZI,a business division of IAG New Zealand Limited.
Your duty of disclosure
The law requires you to tell us everything you know (or could reasonably be expected to know in the circumstances) which a prudent underwriter would want to take into account in deciding whether to insure you and on what terms on which we insure you.This duty applies before you enter into a contract with us, that is, before we accept your proposal and also each time before you alter or renew the Policy. Each person named as the insured has the same duty.
You don’t need to tell us anything which:
Reduces the risk, is common knowledge, we already know, or ought to know in the ordinary course of our business, or we indicate we do not want to know. If you are not sure that something is relevant, it is best to disclose it anyway.
Property Owners Application Form