Insurance Problem

[JaMa]

We took out insurance through Real Landlord Insurance (rlinz) which was a suggestion from our property management company when we bought our rental. A number of years later we are looking at selling the property. On phoning rlinz they advised that as they only insure the property when it is tenanted we would have to insure with someone else. They suggested the Insurance co we insure for our own home. So I phoned AMI and they said that even though I had been a customer of theirs for over 30 years for our own home/contents/cars they would not insure the rental house that was due to be sold, as 1. it would be vacant (once the tenants moved out) and 2. they dont insure anything under a certain time period (in this case a couple of months). On telling the realtor selling the property he was aghast and suggested a broker. So I phoned a broker to be told unlikely anyone will insure as we dont have anything else with them.

Has anybody else struck this problem? Apart from moving all our insurance from AMI (which I am seriously considering) can anyone make a suggestion?

[artemis]

House sitter, friend or family member?

We sold a vacant rental and Tower allowed the existing policy to run but with conditions. They were - have gas supply turned off by a gasfitter, visit the property at least twice a week, electricity turned off at the mains except when someone was actually in the house. May not apply to your situation.

[JaMa]

House sitter, friend or family member?

We sold a vacant rental and Tower allowed the existing policy to run but with conditions. They were - have gas supply turned off by a gasfitter, visit the property at least twice a week, electricity turned off at the mains except when someone was actually in the house. May not apply to your situation.

Thanks Artemis, after spending 2 hours on the phone to Tower I await to see next week if they will do new policy, apparently they are the underwriters of rlinz but cant find the policy we have with rlinz to get the existing policy to run (even with conditions), and rlinz after several calls this week and email have not replied (needless to say I wont be recommending Real Landlord Insurance NZ) to anyone! A frustrating exercise, but I've learnt a thing or two.

[JaMa]

Tower have replied this morning that they will not allow the existing policy to run, when it is no longer tenanted :-( Frustration abounds.

[John the builder]

do you mean they also don't insure when the rental was vacant between rentals??

put a house sitter in with peppercorn rental?

[JaMa]

do you mean they also don't insure when the rental was vacant between rentals??

put a house sitter in with peppercorn rental?

I didnt ask them about between rentals, but have had it confirmed by the underwriters Tower that they wont carry on insuring the property once it is no longer tenanted. So I would presume they also wouldnt when a rental is vacant between rentals. Knowing what I know now I wouldnt use Real Landlord Insurance NZ ever again.

[ATM]

what about AA insurance?

[JaMa]

We took out insurance through Real Landlord Insurance (rlinz) which was a suggestion from our property management company when we bought our rental. A number of years later we are looking at selling the property. On phoning rlinz they advised that as they only insure the property when it is tenanted we would have to insure with someone else. They suggested the Insurance co we insure for our own home. So I phoned AMI and they said that even though I had been a customer of theirs for over 30 years for our own home/contents/cars they would not insure the rental house that was due to be sold, as 1. it would be vacant (once the tenants moved out) and 2. they dont insure anything under a certain time period (in this case a couple of months). On telling the realtor selling the property he was aghast and suggested a broker. So I phoned a broker to be told unlikely anyone will insure as we dont have anything else with them.

Has anybody else struck this problem? Apart from moving all our insurance from AMI (which I am seriously considering) can anyone make a suggestion?

Update: Update: RLINZ have just advised us that they have managed to get Tower to continue on with the house insurance - we are grateful to RLINZ for facilitating this turnaround.