What Landlord Insurance covers

If you own a rental property, having the right insurance cover is an essential part of protecting your investment. Standard House Insurance is generally not enough to cover the additional risks that come with renting out a property. That’s where Landlord Insurance comes in.

Landlord Insurance is a specialised insurance cover for property owners who rent out residential properties. It’s designed to address the various risks and challenges landlords may encounter, offering financial security in the event of accidents or issues with tenants.

Landlord Insurance typically covers:

• Loss of rent: If a property is left uninhabitable or if a tenant defaults, Landlord Insurance covers loss of rent so landlords can continue to receive rental income even when the property is vacant or unable to be rented out.
• Contents owned by the landlord: Landlord Insurance may cover the cost of repairs or replacement of fixed chattels such as wall ovens, dishwashers and heat pumps. However, additional cover options or add-ons may be needed to ensure coverage extends to unfixed chattels such as washing machines and televisions if the landlord provides these.
• Intentional damage by tenants: Deliberate damage to rental properties or misconduct by tenants, including vandalism and theft, can be extensive and expensive. Landlord Insurance covers the cost of repairs, so landlords are not left carrying the financial burden.
• Legal liability: Landlord Insurance can protect landlords against claims for injury or property damage arising from incidents on the rental property, ensuring landlords are financially protected should a lawsuit or legal claim be brought against them by tenants or third parties.
• Methamphetamine contamination: Some Landlord Insurance policies cover expenses associated with identifying methamphetamine contamination and repairing physical damage to the property.

What Landlord Insurance doesn’t cover

When it comes to finding the right Landlord Insurance, it’s important to carefully check the policy’s specific cover limits and exclusions, as not all Landlord Insurance policies offer full cover. Additionally, Landlord Insurance policies generally won’t cover:

• Gradual damage: While Landlord Insurance may cover structural damage to the rental property, it doesn’t cover gradual damage, everyday wear and tear, mould and rot. These issues are considered maintenance-related and are the responsibility of the property owner.
• Tenant’s contents: Personal belongings of tenants living in the rental property are not covered by Landlord Insurance. Tenants are responsible for insuring their own things with Renters’ Insurance to cover against damage, theft or loss due to fire or natural disaster.

Understanding Landlord Insurance

Landlord insurance can be provided as an optional add-on to an existing House Insurance policy or offered as a stand-alone policy in the case of investment properties that operate under a body corporate that have Home Insurance cover taken out by the body corporate.

Work with a Max Insurances Adviser to better understand what is and isn’t covered by Landlord Insurance, and get help finding Landlord Insurance that meets your specific needs and provides adequate protection for your investment property.

For comprehensive Landlord Insurance solutions tailored to your investment property, contact a Max Insurances Adviser today.

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What’s causing house insurance premiums to rise?

House insurance premiums have increased significantly across various regions of New Zealand. Factors such as natural disasters, extreme weather events, inflationary pressures, rising construction costs, and higher claim rates have resulted in some insurance providers adjusting insurance premiums to cover the rising cost of settling claims and managing risk effectively.

• Natural disasters and extreme weather events, like floods, have become more frequent and severe, and insurers face higher pay-outs for home damages.
• Inflationary pressures have compounded the issue, driving up overall expenses, including the cost of materials and labour required for repairs or rebuilding, and increasing the cost of settling claims.
• Areas experiencing a spike in insurance claims are likely to see an increase in premiums for all homeowners in that region, as higher claim rates often indicate greater risk.
• Individual factors such as a homeowner’s claims history and the condition of their property also play a role in determining insurance premiums.

How to save money on house insurance premiums

When it comes to saving money on house insurance premiums, homeowners can consider several strategies. Comparing insurance quotes from multiple providers, bundling policies, opting for a higher excess, reviewing the sum insured regularly, avoiding making small claims, and getting advice from an Insurance Adviser are effective ways to reduce insurance costs.

• Shop around and compare quotes from multiple insurance providers to find the best insurance cover at the most competitive price.
• Consider bundling your house insurance with other insurance policies, such as car or contents insurance, to qualify for multi-policy discounts.
• Opt for a higher excess to lower your premiums but check you can afford the increased out-of-pocket expenses should you need to make a claim.
• Regularly review your sum insured – the maximum amount that your insurance provider will pay to rebuild your home in the event of a claim – to ensure it accurately reflects the current value of your property. Not having enough insurance cover could leave you financially vulnerable should you need to claim.
• Only claim for significant losses and avoid making small claims, as frequent claims can lead to higher premiums over time.
• Get advice from an Insurance Adviser and get help navigating the complexities of insurance policies and finding tailored economical solutions that fit your needs.

Reassess insurance coverage and explore your options

Climate change poses significant challenges for the future of house insurance. With the increasing frequency and severity of extreme weather events such as storms and floods, and rising sea levels posing a threat to coastal properties, insurers are faced with higher risks and increased pay-outs for damages to homes. These additional costs inevitably get passed on to customers.

As the impact of climate change evolves, it’s become increasingly important for New Zealand homeowners to regularly review house insurance coverage and check they have the right level of cover to safeguard their properties. Proactively planning and regularly reviewing insurance cover ensures your house insurance remains fit for purpose, so you’re not left underinsured should something go wrong or ending up paying too much for cover you don’t need.

Get help from an expert: Contact Max Insurances today to connect with an Insurance Adviser who can assess your insurance needs and review your existing policies to determine you have the right insurance cover. They can also help if you need to make a claim, by following up with the insurance provider and liaising on your behalf.

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1. Road rage is not always covered by car insurance

Whether it’s a minor altercation or a more serious confrontation, road rage incidents and aggressive driving can lead to serious injuries and cause considerable damage to vehicles. Depending on the type of car insurance you have, damage resulting from road rage may not always be covered.

While most comprehensive car insurance covers damage from accidents and collisions, intentional acts of aggression or damage caused by aggressive behaviour is usually not covered. This implies that if you have comprehensive car insurance and become a victim of a road rage accident, you’ll most likely be covered. However, if your road rage results in an accident, your insurance policy may not cover it, as road rage is often listed as an exemption in many car insurance policies. And when it comes to third party car insurance, it’s important to note that your insurance provider normally won’t cover damages to your own car, even if you’re the victim of a road rage accident. This is because third-party car insurance is mainly designed to handle the responsibilities and damages related to the other parties involved in the accident – it doesn’t typically cover the costs of repairing or replacing your own vehicle.

It’s important you carefully review your car insurance policy to have a clear understanding of what you’re covered for and what exemptions apply, to ensure you’re protected in the event of a road rage incident.

2. Road rage can lead to higher car insurance premiums

When calculating the cost of premiums, car insurance providers assess a number of risk factors. A history of engaging in road rage incidents could raise concerns about your driving behaviour, while an ongoing pattern of aggressive driving or road rage incidents could result in you paying higher car insurance premiums.

To avoid potential increases in your car insurance premiums, maintain a clean driving record and address any anger or stress-related issues that could contribute to road rage. For more advice on finding the right car insurance cover at the best price, talk to an Insurance Adviser specialising in helping arrange insurance NZ wide, such as those at Max Insurances.

3. A calm and collected approach is necessary

Most road rage incidents are caused by poor driving behaviours or bad decisions that trigger a negative response. Things like tailgating, talking on a mobile while driving, lane changing at the last minute, or overtaking when it’s not safe to do so. In all of these instances, it’s easy for you or someone else to respond with aggression or anger.

Dealing with road rage takes a calm and collected approach to ensure both your safety and the safety of others on the road. When faced with an aggressive driver:

• Stay calm. Avoid engaging in aggressive behaviour or responding in any way. Remain focused on keeping you and others in your car safe and out of harm’s way.
• Don’t make eye contact. Making eye contact or responding in any way is likely to escalate the situation. Instead, focus on the road ahead and avoid unnecessary interactions.
• Keep a safe following distance. Increase the distance between your vehicle and the aggressive driver. Create some space to allow them to pass you to avoid potential confrontations.
• Report any incidents. If you feel threatened or in danger at any time, report the aggressive driver to the authorities. Take note of the registration number, vehicle description and location to assist with an investigation if required.
• Install a dash cam. Recording continuous footage of the road ahead while you’re travelling and keeping track of the date, time, speed, G-force and GPS co-ordinates, as well as in-car behaviour, can be helpful in road rage incidents or when you need to lodge a claim with your car insurance provider.

Car insurance protects your important assets

In New Zealand, road rage is a contributing factor to many cases of dangerous driving and serious accidents, and it’s not uncommon for road rage incidents to escalate into physical violence and face-to-face confrontations. By understanding the potential impact that road rage could have on you, those in your car, and your car insurance cover, and by taking the necessary steps to prevent aggressive driving behaviour, you’re helping to keep the roads safe for everyone.

Get help with car insurance, review your existing policy, understand coverage limits and exemptions, and discuss additional coverage to fit your lifestyle and needs, by contacting a Max Insurances Adviser. Get the right car insurance cover at the right price!

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Adding a minor dwelling

Building a minor dwelling on your property, such as a granny flat or an accessory dwelling unit (ADU) – a small, self-contained residential unit – could add value to your property and provide additional living space for family members or tenants. While this type of structure may improve your overall net worth and provide a valuable source of rental income, it is crucial to obtain the required consent before you start building, which could involve securing a resource consent and a building consent. Additionally, it’s essential you inform your insurance provider about this addition to your home.

Failing to add a minor dwelling to your house insurance policy could leave your new space underinsured or not covered at all. To ensure both your home and the minor dwelling are adequately covered in the event of an insurance claim, contact your Insurance Adviser or insurance provider to update your insurance policy and include coverage for the additional dwelling.

Building a swimming pool

A swimming pool can be a valuable addition to your home, enhancing your lifestyle and improving the value of your property. However, adding a swimming pool to your home also introduces new risks, as it’s not uncommon for accidents and injuries to occur in and around a swimming pool. Some insurance providers view swimming pools as a liability risk and charge higher insurance premiums to cover this additional risk. Before installing a swimming pool on your property, consult with an experienced Insurance Adviser, like those at Max Insurances, to find out about any necessary adjustments to your house insurance policy, such as increasing liability coverage to protect against potential accidents or injuries.

Adding a deck

Decks enhance outdoor living spaces, maximise entertaining areas, and add to your home’s overall appeal. But adding a deck could alter the replacement cost of your home, which would impact your house insurance coverage and your insurance premiums. Let your Insurance Adviser or insurance provider know about any proposed plans to add a deck and find out if you need to adjust your house insurance policy to cover the increased value. That way your house insurance accurately reflects the current state and value of your home, so you won’t be left underinsured should you need to make a claim.

Adding a security system

Installing a security system can reduce the risk of theft and damage to your property, and many insurance providers offer discounts on premiums for homes fitted with security systems. Let your Insurance Adviser or insurance provider know about the security system installation so they can assess whether you qualify for any discounts or if adjustments are needed to reflect the improved security measures in your house insurance policy.

Upgrading plumbing and wiring systems

Many older homes in New Zealand are fitted with outdated pipe materials such as polybutylene, galvanised steel, or lead which are considered a health hazard and high risk for water damage. Similarly, homes fitted with knob and tube wiring systems, which are not designed to handle the demands of modern appliances, are considered potential fire hazards.

Upgrading your home’s plumbing and wiring systems using modern materials reduces the risk of water damage and electrical fires, which in turn could reduce your house insurance premium. Let your Insurance Adviser or insurance provider know about any upgrades to the plumbing and wiring systems in your home, to determine whether the improvements warrant any adjustments to your policy or if you qualify for discounts because of the reduced risk of potential claims.

Keeping your insurance provider informed

Home upgrades, improvements and enhancements can add value to your home and improve your lifestyle, but it’s important these updates are included in your house insurance policy. Keep your insurance provider informed about any changes to your home to ensure that your house insurance policy is up to date and covers the additional features of your upgraded home. For insurance advice or expert guidance finding the right NZ insurance cover to fit your needs, contact Max Insurances to speak to one of our team of Insurance Advisers.

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Is motorcycle insurance required by law in NZ?

In New Zealand, motorcycle insurance is not legally required. However, while not mandatory, motorcycle insurance is highly recommended. Without motorcycle insurance, you could be left with significant financial burdens in the event of an accident or theft.

What’s more, if you use finance to pay for your motorcycle, your lender may require you to have motorcycle insurance as part of the loan agreement, to protect their investment in case of an unforeseen event.

How much motorcycle coverage do you need?

When it comes to motorcycle insurance, there are several types of coverage to consider. The right level and type of NZ insurance will depend on your personal circumstances and requirements.

1. Third Party Insurance

This is the most basic form of motorcycle insurance, covering you for damage caused to another person’s property or injury to someone else, but not to your own motorcycle.

2. Third Party, Fire and Theft

This type of motorcycle insurance not only covers third party damage and injury, but also includes protection against theft and fire damage to your motorcycle.

3. Comprehensive Insurance

Comprehensive insurance offers the highest level of coverage and includes all the benefits of Third Party, Fire and Theft, plus coverage for damage to your own motorcycle, even in the event of an accident when you’re at fault, provided that you are adhering to the terms and conditions outlined in your insurance policy (such as compliance with driver licence conditions and vehicle safety standards). Read this blog to find out some common reasons why insurance claims can be denied even with comprehensive vehicle insurance and how to avoid these situations.

When choosing the right level of coverage, consider factors such as the value of your motorcycle, how often you ride, and your budget. While comprehensive insurance offers the most protection, it’s usually the most expensive. Work with an experienced Insurance Adviser, like those at Max Insurances, to make an informed decision about which motorcycle insurance is right for you and your motorcycle.

Tips for safe riding on the road

Protecting yourself and your motorcycle with insurance is just one part of responsible riding. Equally important are the habits and precautions you take to keep yourself and other road users safe on the road. Here are some essential tips for safe riding:

• Wear proper safety gear: The right motorcycle gear provides critical protection in case of an accident. Always wear a helmet, gloves, sturdy clothing, and footwear designed for motorcycling.
• Regular maintenance: Regular servicing can help prevent breakdowns and accidents caused by mechanical failures. Keep your motorcycle in good condition by following the manufacturer’s maintenance recommendations.
• Stay visible and alert: Wear bright, reflective clothing to make yourself more visible to other road users, and always stay focused on the road and be aware of your surroundings.
• Follow traffic laws: Obey speed limits and all other traffic regulations and remember that motorcyclists are subject to the same rules as other road users.
• Keep a safe following distance: Use the two-second rule in good driving conditions and push it out to four seconds when roads are wet, icy or slippery. To check you’re travelling two seconds behind, watch the vehicle in front pass a landmark, then count ‘one thousand and one, one thousand and two’. If you pass the same landmark before finishing counting, you’re following too closely.
• Continue learning: Consider taking advanced riding courses to improve your skills and become a more confident and capable rider.
• Be prepared: While there’s only so much you can do to keep you and your motorcycle safe, it’s helpful to be prepared for any unexpected incident with the right motorcycle insurance cover.

An important safeguard in any event

While motorcycle insurance may not be a legal requirement in New Zealand, it’s an important safeguard against potential financial loss in case of an accident or theft. Choosing the right level of coverage and adopting safe riding practices are both essential aspects of responsible motorcycling. By taking these steps, you can enjoy the freedom of the open road with confidence and peace of mind.

Get motorcycle insurance advice from an expert: talk to the team of Insurance Advisers at Max Insurances. We understand that comparing policies and finding the right one can be challenging. So we aim to make it as simple as possible for you. With a network of industry contacts and expert knowledge of NZ insurance, our team can help you find the right motorcycle insurance cover. Moreover, if the unfortunate does happen and you need to make a claim, we will be there for you, advocating on your behalf and guiding you through the claim process to ensure a smooth and fair outcome.

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Comprehensive Car Insurance

Comprehensive car insurance is often considered the gold standard when it comes to insurance coverage, as it provides the highest level of protection for your car and for others on the road. Here are the key advantages and disadvantages of comprehensive car insurance:

Pros:

• Extensive coverage: Comprehensive car insurance covers the widest range of scenarios, including accidental damage to your car and other cars, and any property. This type of insurance also covers against theft, fire, vandalism, and natural disasters, which means you’re protected in a variety of situations beyond just accidents.
• Protection for your car: In the event of an accident, comprehensive car insurance covers the cost of repairing or replacing your car, regardless of who is at fault.
• Peace of mind: Knowing that you have comprehensive car insurance coverage can offer peace of mind, especially if you have a newer or more valuable car. Having to cover the significant cost of any damage incurred out of your own pocket, could easily set you back thousands of dollars.
• Optional add-ons: Some insurance providers offer the option to add extras to your comprehensive car insurance policy, such as roadside assistance, rental car coverage, key replacement, and more, tailoring your policy to your specific needs.

Cons:

• Higher premiums: Comprehensive car insurance tends to have higher premiums compared to third party car insurance because of its extensive coverage. If you have an older car with a lower value, the cost of comprehensive car insurance may outweigh the potential benefits.

Third-Party Car Insurance

Third-party car insurance provides a more basic form of car insurance coverage, protecting you against any claims made by other parties when you’re involved in an accident. However, as it’s usually the cheapest NZ insurance option available, third-party car insurance doesn’t cover any damage to your own car. Here are some other advantages and disadvantages:

Pros:

• Affordability: Third-party car insurance tends to have lower premiums, making it a more budget-friendly option for many drivers. Third-party best suits drivers of low value cars who are willing and able to pay for the cost of repairs or replacement.

Cons:

• Limited coverage: Third party car insurance doesn’t cover any damage to your own car, and only covers damage or injury caused to other parties involved in an accident.
• Out-of-pocket expenses: Because of its limited coverage, if you’re at fault in an accident, you’ll have to pay for the repair or replacement of your own vehicle.
• No protection from theft or natural disasters: Third party car insurance doesn’t provide any coverage for theft, fire, or other non-collision related incidents.

Find the right car insurance for your needs

Deciding between comprehensive and third-party car insurance ultimately comes down to your individual circumstances and preferences. If you own a newer, higher-value car and want maximum protection, then comprehensive car insurance is the better choice. However, if you’re on a budget and have an older vehicle, third party insurance may be sufficient.

When deciding on the right car insurance for your needs, it helps to get sound advice from an expert, such as those at Max Insurances. Talk to an Insurance Adviser today and get help navigating the options and finding a car insurance policy that offers the best balance of protection and affordability. No matter where you are located, Max Insurances can help you arrange insurance NZ wide.

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Can I insure my older home?

If the home you’re considering buying was built before 1940, it may be harder to get house insurance. Older homes were subject to different building standards in the past, and most insurance providers in NZ consider older properties a higher risk.

The good news is that there are some insurance providers in New Zealand that offer insurance coverage for older homes. However, there may be variations in the types of coverage and terms available, and it’s worth noting that the insurability of an older home isn’t based solely on its age, but rather on a combination of factors.

Will the age of my home affect my insurance premiums?

The age of the home can influence the cost of your insurance premiums. Older homes can have a higher likelihood of certain issues – including weather-tightness or fire risk – because of wear and tear, outdated systems, or a lack of modern safety features. However, this doesn’t mean that insuring an older home is prohibitively expensive. It’s all about assessing risks and taking appropriate measures to mitigate them.

What should I be aware of when buying an older home?

As house insurance is usually a condition of property finance, when buying an older home, it’s essential you conduct thorough due diligence. Here are some key points to keep in mind:

• Building materials and construction: In the past, homes were often constructed using materials that are no longer common today and may be considered a fire hazard. Older homes with walls lined with scrim or sarking – hessian sacking stapled to thin wooden strips – may not be insurable because of the increased risk of fire. Before purchasing, it’s advisable to get a professional inspection to assess the condition of the property’s structure and to factor in the cost of removing any scrim and sarking lining the walls before it can be insured.
• Maintenance and upgrades: Older homes that have been well-maintained and upgraded over the years may be easier to insure. Replacing the original roof or rewiring the electrical circuits, for example, would greatly improve the property’s insurability and reduce the potential risk that insurance providers may perceive with an older home.
• Meeting certain safety standards: Older New Zealand homes were often clad in weatherboard constructed from native timber. These homes require ongoing and frequent maintenance and may be prone to issues with weather-tightness. Additionally, it’s not uncommon for older homes to have foundational issues and problems with the piling. It’s important to verify that the property meets certain safety standards. If the home hasn’t been brought up to these standards, it could result in the property being uninsurable.
• Historical classification: Older homes that have a local council or government historical classification have strict rules around preserving the building style of the home. To ensure the replication of historical or unique architectural features, repairing and rebuilding such homes requires the use of specific materials and specialised labour skills, which can incur additional costs. These expenses are taken into consideration by insurance providers and can often result in higher premiums.

What other factors can affect the cost of house insurance?

While the age of the home is a consideration, there are other factors that can impact the cost of insurance premiums for older homes:

• Safety measures: Rewiring and installing a security system, alarm, and smoke detectors can help lower insurance costs by reducing the risk of theft, fire, other incidents.
• Claims history: If the property has a history of multiple insurance claims, it could increase the cost of house insurance premiums. Investigate the property’s claims history and the impact any past claims could have on your own house insurance costs.
• Rebuilding costs: Due to the potential complexities of rebuilding an older home, house insurance premiums may be higher, while accurately estimating rebuilding costs is critical to ensuring you have enough insurance coverage.

Addressing house insurance concerns

If you are considering buying an older home, it’s important to address any insurance concerns early on in the process. Before making an offer, check that the property is insurable. Consult with an experienced Insurance Adviser, such as those at Max Insurances, who can provide you with valuable insights and assistance in assessing whether an older home can be insured. With the right information and guidance, you can get the house insurance you need to protect your investment and the things you love.

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Tip 1: Secure your car properly

To make it harder for thieves to get into your car and to deter them from attempting a theft, always lock your car and ensure that the windows and sunroof are closed before leaving it unattended. Consider using a steering wheel lock, wheel clamps, or gear lock as an additional layer of security if you plan to leave your car unattended for some time.

Tip 2: Park in a safe and well-lit area

Parking off-street or in a garage is always the safest choice. But if this is not an option, park your car in a well-lit area or in a secure car park – if possible, one with surveillance cameras – as that can significantly reduce the risk of theft. Because thieves prefer to operate under the cover of darkness or seclusion, when your car is parked in a well-lit area or a monitored car park, it becomes a less attractive target.

Tip 3: Don’t leave valuables in plain sight

Leaving valuable items like laptops, smartphones, or bags in plain sight can attract thieves. Always take your belongings with you, and if you have to leave them in the car, store them out of sight or hidden in the boot. The less visible tempting items in your car, the less likely it will catch the attention of potential thieves.

Tip 4: Install an anti-theft system or immobiliser

Investing in a quality anti-theft system can significantly reduce the chance of car theft. Modern car alarms, GPS tracking devices, and immobilisers often deter thieves and help authorities recover your vehicle quickly if it is stolen. Most new cars come factory-fitted with an immobiliser or car alarm, but if this isn’t the case for your car, consider getting one installed. It’s a cost-effective way to protect your car and deter would-be thieves. What’s more, fitting an immobiliser could help reduce your car insurance premiums.

Tip 5: Be cautious with spare keys

Avoid leaving spare keys in obvious places, such as under the car mat or in the dashboard console. Thieves know where to look for spare keys, and once they have them, stealing your car becomes a breeze! Don’t leave the car running or the keys inside while you get out to run an errand, even if it’s just for a few minutes.

Tip 6: Protect valuable assets

Despite taking all preventative measures, car theft is sometimes unavoidable. That’s where car insurance helps. Comprehensive car insurance covers against car theft – as well as accidental damage, fire, vandalism, and storm damage – so you don’t suffer a significant financial loss in the event of car theft. Here’s a closer look at some of the important benefits of car insurance:

• Financial protection: Comprehensive car insurance provides coverage not only for theft but also for damage caused by natural disasters, vandalism, and accidents. If your car is stolen and not recovered, comprehensive car insurance ensures you’re reimbursed for either its market value or the agreed value specified in your policy schedule, so you’re not out of pocket when it comes to buying a replacement car.
• Peace of mind: Knowing that you have comprehensive car insurance provides peace of mind, especially when your car is parked in potentially risky areas. It gives you confidence that you’ll get support and compensation in the event of theft or any other covered damage.
• Rental car provision: Some comprehensive car insurance policies include provision for a rental car, which can be a huge help if you need alternative transport while you wait for your stolen car to be recovered or replaced.

Safeguard the things you value

While no preventative measure can completely guarantee protection against car theft, being vigilant and prepared goes a long way towards reducing the risk of car theft and improving the security of a valuable asset such as a car. To safeguard your valuable assets and provide peace of mind, get in touch with the Insurance Advisers at Max Insurances. Our team are ready to help you find the right NZ insurance cover to fit your budget and lifestyle.

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Signing a rental agreement

Once you’ve found a property to rent, one of the first steps is signing a tenancy agreement. This legally binding document outlines the terms and conditions agreed upon by the tenant and the landlord. It includes essential details such as the duration of the tenancy – either fixed-term or periodic, the rent amount and frequency, responsibilities of both parties, and any additional clauses or rules specific to the property. Make sure you read the agreement carefully before signing it and keep a signed copy of it for your own records.

Paying rent and other costs

Along with the rent that needs to be paid for in advance of moving in, you’re usually required to pay a bond which could be as much as 4 weeks’ worth of rent. The bond is held by Tenancy Services and could be used by the landlord to cover expenses such as unpaid rent or damage to the property. Provided you make all your rent payments and don’t cause any damage, you’ll get your bond back when the tenancy ends, and you move out. In case you do not have sufficient cash on hand for bonds and moving costs, the Personal Lending Advisers at Max Loans could help you arrange an emergency loan to deal with these expenses.

Rent payments are typically made weekly, fortnightly, or monthly, as specified in your tenancy agreement. Additional costs that you may need to pay include utilities (electricity, gas, water), internet, and any maintenance fees agreed upon in the tenancy agreement. Ensure you’re clear on the payment schedule and preferred method of payment set out by your landlord, and plan for these expenses in your budget. Keep in mind that your landlord can increase your rent once every 12 months but must give you 60 days’ advance notice in writing.

Your rights and responsibilities

Both tenants and landlords have rights and responsibilities relating to the rental property. Landlords are required to ensure that the property being rented out meets all relevant health and safety standards, that tenants have privacy and are not unfairly evicted, and that landlords don’t enter the property without providing at least 24 hours’ notice.

In turn, tenants are required to pay their rent on time, keep the property reasonably tidy, and let the landlord know about any damage. Tenants are not responsible for normal wear and tear to the property but must inform the landlord promptly if there is maintenance work that needs to be done. To resolve any issues or conflicts, it’s best to seek advice from the Tenancy Tribunal.

Protecting your belongings

While the landlord may have their own landlord insurance policy to cover the cost of damage to the rental property, this type of insurance usually doesn’t cover the tenants’ belongings in the event of a claim. It’s important that tenants have their own NZ insurance to protect their belongings and cover them against any liability.

Renters insurance is a type of cover designed specifically for tenants, to cover items inside the rental home. This NZ insurance can cover things like mobile phones, electronics, furniture, and clothing, and can be extended to cover personal belongings in the driveway, garage or in the car. Furthermore, with a comprehensive insurance policy, renters insurance also protects the tenant against liability in the event of loss, fire or water damage caused to the property, which could easily amount to hundreds of thousands of dollars in a claim.

Insurance advice for tenants

There’s a lot to think about before moving into a rental property and it’s not surprising so many tenants are left feeling overwhelmed by the process. One way to help alleviate some of these concerns is to speak to an Insurance Adviser about NZ insurance to cover your belongings and liability when renting a property.

When it comes to NZ insurance, Max Insurances Advisers understand that flexibility is important. Which is why our team of Insurance Advisers work with a range of insurance providers to help you find the right cover at the best price to fit your specific requirements. To find out more about renters insurance, get in touch with a Max Insurances Adviser today.

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1. Why do I need motorhome insurance?

While motorhome insurance is in New Zealand, it makes financial sense to protect your motorhome, just as you would with car insurance, house insurance and contents insurance. Having the right NZ insurance cover in place in the event something goes wrong provides peace of mind. With motorhome insurance, your motorhome is protected against the risks you could face when driving or parking up.

Replacing the high-value item if it’s involved in an accident, is stolen, damaged or destroyed by fire could set you back thousands of dollars and put an end to your motorhome dreams. With so much time spent on the road or being parked up outside, the risk of damage from accidents or other events is an important consideration for motorhome owners.

Some of the most common risks associated with motorhomes include:

• Reversing into tight spots or taking corners too sharply. It can be tricky manoeuvring a large motorhome into a small space even with a reversing camera, while not taking a wide enough angle when turning can lead to panel damage if corners are cut.
• Driving on dangerously slippery roads. Motorhomes are big and heavy and require more traction to stop tyres from slipping when driving in icy conditions. Failing to stop on time or being unable to stop due to the condition of the road could lead to an accident and cause significant damage.
• Fire damage. Because your motorhome is essentially a home on wheels – a place where you sleep, eat and travel – the risk of fire damage is a real threat, and an important consideration for motorhome owners.
• Theft or loss. A high-value item such as a motorhome may be a target for resourceful thieves. Without motorhome insurance, you could end up covering the cost of repairs or replacement out of your own pocket – an expense many owners would find hard to cover.

2. What does motorhome insurance cover?

Depending on the level of coverage, motorhome insurance policies may cover against accidental damage, fire, and theft, and many also include towing and temporary storage, windscreen and glass repair or replacement. Optional extras can also be added on, such as cover for contents that are permanently stored inside your motorhome.

Before deciding on motorhome insurance cover, get advice from an expert like those at Max Insurances, and ensure you get the right amount and right type of cover to fit your needs. Whether you choose to protect your motorhome with comprehensive insurance cover or third party, fire, and theft insurance cover,  we at Max Insurances can help find the most suitable insurance policy at a competitive price.

3. What isn’t covered by motorhome insurance?

It pays to go over the terms of your insurance policy as, similar to other types of NZ insurance, there are some exclusions to motorhome insurance. While motorhome insurance usually covers accidental damage, common exclusions include wear and tear, breakdown and mechanical, electrical, or electronic failure. For these types of events, it’s best to consider Mechanical Breakdown Insurance. Our team at Max Loans can help you arrange Mechanical Breakdown Insurance to cover the costs associated with breakdowns, or an Emergency Loan to help pay for unexpected costs you incur with your motorhome that you’re unable to pay right away.

4. Does motorhome insurance cover other drivers?

While motorhome insurance policies can vary in coverage, they often extend coverage to other drivers who have your permission to use your motorhome. The coverage typically applies as long as the other driver meets certain criteria, such as holding a valid driver licence. However, a high excess may be required when you make a claim.

To gain a comprehensive understanding of your policy’s terms, conditions, and any potential limitations or restrictions regarding other drivers, it’s recommended to consult with an experienced Insurance Adviser, like those at Max Insurances.

5. How can I lower my premiums?

Smart ways to lower the cost of your premiums include:

• Multi-policy discounts. Combining various insurance policies– including car insurance, house insurance, and contents insurance – with motorhome insurance could provide a significant saving on premiums.
• Increasing your excess. Choosing to pay a higher excess will lower the cost of your monthly or annual premiums. However, don’t get caught out in the event you need to claim by ensuring you can afford to pay the higher excess.
• Change your payment term. Most insurance providers offer a discount if you choose to pay your premium annually rather than monthly.

While the cost of insurance is understandably important, choosing insurance cover based solely on price doesn’t necessarily provide the most suitable option. Talk to an experienced Insurance Adviser from Max Insurances about your specific needs, to find the right motorhome insurance at the best price.

Plan your next motorhome holiday with ease

With a clearer understanding of motorhome insurance, knowing you and your family – and your valuable asset – are protected if something goes wrong, head out on your next road trip with confidence and explore New Zealand without a worry.

For help buying your dream motorhome or to get cash in a hurry with a holiday loan, contact the Personal Lending Team at Max Loans. For advice about NZ insurance cover, talk to the team of Insurance Advisers at Max Insurances.

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