insurance cancelled

[John the builder]

A friend with several rentals had a claim for a fire, Now he has had fire cover declined by Tower and all his policies cancelled. The reason is unclear but seems to be related to tenancy risk concerns.

Is there a more tolerant and informed insurer out there. Any recommendations??

Comments appreciated.

[Don't believe the Hype]

We use Neil at Stratus Financial services in Wellington. They recently helped us manage a total loss fire claim. Paid out fast and no issues with our other insurances. They use Vero insurance. You can google him or if you like I can find his details and post

[Perry]

Isn't Tower the old State Insurance?

Good to avoid them and their sister-shark: the Public Trust.

I think their motto is/was your word is law.

Realistically, it seems more like: your money is ours.

Crombie Lockwood are worth a call, too.

[mrsaneperson]

Try this guy, pretty competitive quotes...

Gary Palmer
www.peakfinancial.co.nz

021 949772

[hawkeye]

Just make sure you carefully read the full policy document before taking out the policy. They are not all the same. Make sure there aren’t special conditions for tenants that you need to be aware of. Brokers often sell based on what commission they get and try to push you in the direction of th company that is paying the best volume bonuses. They gloss over the fine print in the policy doc and often don’t even give you the full wording. Don’t just choose based on price as the benefits of the policies might be different.

[flyernzl]

You'd be mad (or stupid) to insure with Tower.

At the height of the Christchurch earthquake misery, whenever they had televised group grillings of the insurance companies, Tower was always the one that was 'unavailable'.