Fire and General insurance (that is insurance on houses, contents, vehicles, boats, professional indemnity, public liability insurance) is something that we don't know a lot about here. We can answer any question that you have about insurance on you as a person (life, trauma, income protection, mortgage repayment, health insurance etc), but not about fire and general insurance - it is a separate industry to the life insurance industry.
We know about our own experience and our clients experience, But when it comes to insuring our 'things' we trust a professional fire and general insurance broker, and refer our clients to them.
Just as financial planning, life insurance, and investments are all specialist areas of insurance, so is fire and general insurance.
We have become aware of several particular issues recently that we all need to be aware of, we have highlighted two of them below.
Every 4-5 years we work with our membership fee clients to do a project on reviewing their home, contents, vehicle insurances to make sure that they are as up to date and accurate as possible.
The last time we did this was when the method for insuring houses changed after the 2011 Christchurch earthquakes. The way that houses are insured changed from June 2013 - and we worked with our clients to make sure that their houses were property insured.
However, I was concerned this month to read an article in NZ Herald that said that:
A 2016 Treasury report estimated 85 per cent of homes were under-insured by an average of 28 per cent equating to under-insurance of $185 billion.
It is vital that you make sure that you know that you are properly insured - from your house, contents, vehicle to your life, income, health.
The articles below highlight two issues that have come to light in recent months.
If you would like a referral to our trusted fire and general insurance broker, contact us by clicking here.