The New Zealand Property Investors Federation is pleased to announce that our insurance partner, Initio, has added an exclusive member-only benefit that increases the required property inspection period from 3 monthly to 4 monthly. This applies to all full NZPIF members and Associate Members.
Given the insurance markets move to 3 monthly inspection periods and debate among landlords this benefit is very timely. Andrew King was quoted in an article in the NZ Herald over the weekend “Rental property inspections too frequent, say landlords”, click here to read the full article<https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12246706>
What do property inspections relate to?
Property inspections are a form of risk management that helps to reduce and identify malicious damage and meth losses.
What is not well known is that the requirement to undertake property inspections is for tenant related losses – the requirement is NOT designed as a catch-all for every type of claim. Eg. If a pipe suddenly bursts causing water damage, property inspections are irrelevant.
Learn more about inspections with this useful article, Property Inspections – 3 Things Landlords Need to Know<https://initio.co.nz/property-inspections-3-things-landlords-need-to-know/>
When does the benefit apply?
The benefit applies immediately to all new and also existing member insurance policies with Initio.
NZPIF member benefit – inspection period condition increased from 3 monthly to 4 monthly.
Do I still get a discount with initio?
Yes, you continue to receive a member-only discount.
How do I get a quote for my rental property or own home insurance?
Visit the NZPIF insurance page<https://www.nzpif.org.nz/items/view/57429/> to get a quick online quote or personal advice.
Established in 2010, Initio is an online insurance provider specialising in property insurance. The NZPIF partnered with Initio & First Lane Insurance in 2015 to promote to members a class leading all-in-one insurance policy for landlords. Initio is underwritten by NZI (IAG New Zealand Ltd) <https://initio.co.nz/financial-strength/>