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Insurance recommendations

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  • Insurance recommendations


    Does anyone have either an insurance company or broker they would recommend?
    I've got a few properties so it tends to add up, especially lately. I'm sure many would be going through a similar experience.
    In fact the properties are only land value now so if I had my way I wouldn't insure at all but the agent tells me it's necessary. Any thoughts?


  • #2
    I’d avoid iag if you can. Although they have bought up almost everyone else now so might be hard.

    They were plain evil when dealing with my friends earthquake repairs . First the repair job was awful and she had to take them to court to make them pay to remedy it which took years of her life and $100s of k for experts and lawyers, then they settled out of court with non disclosure clause saying “this was straight forward, should have been settled quickly.” They try and shake off 90% of claims in a large event by making people run out of money then settle the last 10%.

    it might be ok if it’s a one off like a fire.
    Last edited by hawkeye; 16-09-2023, 04:21 PM.


    • #3
      It is possible that using a broker could be better than going direct, considering such problems as Hawkeye mentions.

      Crombie Lockwood are O.K.

      Another thing. It costs, but getting a valuer to produce an insurance certificate is likely worth the money. Some of my (special) rentals increased 282% in replacement price in 3 years!

      Hard to appreciate and the resultant premium increases were significant.

      I'm now paying $1k per month on the overall rental portfolio.


      (Includes LL protection)