Rental contents insurance

Gary asks:
(updated on Monday, August 03rd 2015)

I plan to go on an OE at some point in the near future. I will rent my apartment out fully furnished while I am away. What contents insurance options do I have to insure my contents in the rented apartment? Contents include sofa, bed, mattress, whiteware, TV, etc.

Our Experts Answer:

Firstly, well done for considering your contents and for picking up that insurers need to know these things given that an owner-occupied dwelling is a lower risk than one which is tenanted (and the same goes for contents of course). Most insurers will offer a landlord fixtures and fittings home contents policy to enable landlords to have cover for fully or partially furnished rental properties. These policies may, however, be subject to a "Landlords Furnishings Endorsement" which may be more restrictive cover than a standard home contents policy - e.g. restricting replacement over to five years. The cover may also be restricted to named perils such as fire, storm, flood, burglary etc and may well exclude claims for malicious damage by tenants. It would pay to ask if this could be added. Lastly, don't forget to also formally advise your home insurer that your property is now tenanted.

Select Home Loans 4.29
HSBC Premier 4.39
ICBC 4.39
Heartland Bank - Online 4.40
China Construction Bank Special 4.45
SBS Bank Special 4.55
Kainga Ora 4.57
Co-operative Bank - First Home Special 4.75
TSB Special 4.85
AIA 4.85
Co-operative Bank - Owner Occ 4.85
Select Home Loans 4.86
Heartland Bank - Online 4.90
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ICBC 5.09
HSBC Premier 5.15
SBS Bank Special 5.19
China Construction Bank Special 5.19
AIA 5.35
Co-operative Bank - Owner Occ 5.35
First Credit Union Special 5.45
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HSBC Premier 5.89
ICBC 5.89
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BNZ - Classic 6.19
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Resimac 6.33
China Construction Bank Special 6.35
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Select Home Loans 4.09
Heartland Bank - Online 4.10
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TSB Special 4.89
Kiwibank Special 5.00
ICBC 5.25
Kainga Ora 5.43
Kiwibank 5.50
China Construction Bank 5.50
Kiwibank - Offset 5.50