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$1400 just to insure a unit!

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  • drelly
    replied
    Originally posted by makanlah View Post
    But now....I'm choking on my gin n tonic.
    I notice you're in Singapore, so I expect you're sitting in one of those high-backed cane chairs in Raffles Hotel.
    I've recently insured my properties under the old footprint prices and a 3 bed house in Whangarei of similar value was about $650. Your quotes sound really high but perhaps that's what we can expect now?

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  • makanlah
    replied
    Hi, it is in Pukekohe (for the uninitiated, that is in Franklin, off the southern motorway, ie south Auckland but rural south aucks). While hardly being in a Remuera/or Ponsonby-type exclusive zone, it is in the fairly respectable Hill area (though admittedly there are one or two locales in Puke that are more like Baghdad these days..). Have owned it for over a decade. Renovated it slightly two years ago with new carpet, paint, tidied up kitchen joinery and the insurance sum for that year was just the usual small percentage increase. Insurance coverage has crept up over the years, but as I said, last year when full replacement rather than sum insured, it was around $780. But now....I'm choking on my gin n tonic.

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  • drelly
    replied
    Is your unit in Baghdad?

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  • donna
    replied
    Is the location of your property a factor in the new sum insured insurance? E.g upmarket Auckland vs somewhere else?

    cheers,

    donna

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  • AndrewENZ
    replied
    Have you tried a broker?

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  • makanlah
    started a topic $1400 just to insure a unit!

    $1400 just to insure a unit!

    Hi, I am renewing my annual insurance cover on a 90sqm 2-bed unit. Last year it was around$780 - this year the increase has been a shock. I expected some increase, but here are the quotes I have got, with Lumley coming in highest at over $1,400. These quotes include me having a higher excess. Has anyone any advice on where I could get a cheaper but good deal? Thanks.

    Based on a sum insured of $210,000 with Landlords Extension:
    NZI - $2,250 excess - $1,088.41
    Lumley General - $800 excess (Max) - $1,417.85
    Vero - $2,750 excess - $1,072.01
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