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Previous: Our advice
Previous: Our advice
We had a fire in our rental property which destroyed the content 100%. Our policy is a full replacement.
The carpet was professionally installed. The insurance company will not compensate for the carpet because it was not glued to the floor boards. Therefore it is not a chattel and will be not covered by the house insurance.
Warning: all rental property owners - make sure you have a content insurance and coordinate your house insurance policy with the new content insurance. Even when you think your house is empty - often that is not the case and if its not glued or fixed to the house structure you will not have cover with your house insurance.
Andy NZ
Consumer reports in complex areas like insurance need to have an overview summary as above BUT ALSO a detailed report. NEWS SIS is about to impose a $250 excess on all its policies BUT is still advertising and selling them with a no- excess advertising and information to prospective policy holders. Yesterday they refused to reduce our insurance fron $60,000 on the grounds we appeared to be deliberately UNDERinsuring ? What is this?????
There are so many clauses and strategies they uses that we all do not understand that YOU need to alert us to them eg ; Full replacement up to 10 years -then nothing ? Replacement for some categories but not others ? Discounts for increased excesses -publish .Holiday home provisions are especially problematic- and often unfair as they DO NOT spell these out. The bands each compay uses eg : wont insure less that $10,000; $30,000- ban moves up significantly at $50,000? keep under this as approx 50% of all intems in household are worth less than $250. How opften does a total loss actually occurr ? Perhaps we should insure fror a 75 % loss as (95% of all claims are actually for this or less -Then we can assess the risk .. ALSO how to get past the GUARDS on the phones who refuse to allow us to speak to anyone else about matters- Ap[parently there are no Managers- Senior staff any more to who you cann appeal the decision of a phone JOCK !!! WEll why dont COSUMER RUN a what are your ecxperiences with insurance again and then tabulate the research it produces? -as you do with used cars
reagrsd
Yachtsail
My fiance and I moved into a rental apartment last night and I contacted AMI to change contents. After 30mins I was advised that because the apartments were above a commercial business cover could not be provided! Apparently it makes no difference that there are smoke doors, seperate entrance for tenants and customers, video survellance and individual key codes! This seems mad as most apartments in cities are above some kind of business! Are people just not being honest and not stating this when changing contents? But then wouldnt they be stung when making a claim? I contacted State who also advised they take the same stand. Meanwhile I have contents all around the countryside and in this new apartment uninsured - what does one do? Has anyone struck this before? Would be very interested to find out ways around this! Murphys Law - now that I dont have contents who knows..
My son also had the same problem with AMI contents insurance (and liability insurance) when his address changed. Accommodation was provided with a new job but because 60 paying guests were also staying at the same lodge which also contained a small shop and commercial kitchen his contents insurance was declined despite sprinkler system, smoke alarm, smoke stop doors, etc. To AMI's credit they did provide him with the name of an insurance broker who was able to arrange suitable insurance (at a price).
Hi Lisa
The apartment you rented is for sure managed by a body corp. The body corp has [imperative] a whole building insurance. Check with your rental company and ask if they also manage the body corp. If not ask the rental company to pass on the information who is the body corp. Once this is established you can get in touch with them and ask them what you have encountered in regards of content insurance and if there is a way to insure the content through the insurance company who insures the building. This is interesting as all the other tenants would have obviously the same problem, which they either have ignored or they have given false information [genuine or otherwise - but not knowing does not protect!] to their insurance companies.
Andy Holler/andy_holler@yahoo.co.uk [ex owner of an Auckland apartment and member of a body corp.]
I have recently moved and face the same problem. There are only three apartments above shops where I am and even though we have secure entrance and intercom system and built in fire alarm system; AMI says they won't insure due to fire risk.
I would be interested to know if anyone found another insurance company that does insure apartments above shops. Otherwise I'll start ringing around from the list of Contents Only policies.
Thank you Consumer for the updated lists.
I wonder if people have any experience with insuring older houses - mine is built in 1918, has new roofing and wiring but doesn't necessarily have new piles or linings. Any insurer particularly good in this market?
As Jewellery Valuers we see many people with bad experiences with jewellery claims. We suggest that everyone checks their policy wording and limits on jewellery. Many people don't realise they might only be covered for the second hand value, or that to have a claim fairly settled they will need proof of the nature and value of their jewellery (including less valuable items). Best idea to avoid an unfair settlement is to get it all professionally documented and listed on your policy.
I have a rental property and a tenant locked a cat in the bedroom and in the end I had to evict the tenant. The urine smell was so bad that I could not rent the house out.
They clain that the excess applies to every time the cat weed so no claim.
I dont agree and could this be malicious damage.
How about comparing policies for a rental property?
I have a contents only policy with Tower. After a recent (only) claim on this cover I was told my excess would increase from $250 to $2000 if I did not have deadlocks/window stays put in place. I have asked my landlord to do this but have not received any response about that. Who is liable if I happen to have another burglary before this is sorted and why is there such a huge jump? in my excess.