Questions About Home Insurance NZ Residents Should Ask
There are questions about home insurance NZ residents should ask to avoid paying excessive premiums whilst ensuring they are properly covered.
Cost Of Inflation – Some home insurance policies have automatic provisions that take inflation into account when a policy is being renewed. It can be a little irritating to the policy holder to see the premium steadily increase, but it is a good provision to have. Without it, when the time comes to make a claim, especially if the loss involves the entire house, cover may no longer be sufficient, and in some instances a homeowner may find themselves short of funds required to build a new home to the standard of the one that was lost.
Multiple Homes – If, in addition to your usual place or residence, you own a vacation home, mobile home, or a villa on the Italian Riviera, don’t assume that your homeowner’s policy will cover everything, or the contents in everything. It may or it may not. If you’ve kept a single policy, but simply increased the amount of cover, you may be paying a higher premium for cover that is in effect no cover at all. It’s always best to check with the insurance company to see how insuring multiple homes should be approached.
Bookkeeping – Keep track of what your riders, endorsements, and other cover descriptions say. As times change, your insurance needs can as well. You want to both avoid paying excessive premiums and having insufficient cover. An annual review of your policy should resolve any issues.
Whenever you believe there is a need to change your insurance policy or the amount of cover, a free quote from us can come in handy. Times change; so do premiums and company policies. Click on our free quote button and discover the services we offer. There’s no obligation in doing so.