How do I figure out the sum insured for my rental property?

Your sum insured should be how much it would cost to rebuild your rental house, including features such as fences, driveways, demolition, debris removal, compliance and professional fees. Always include GST in your sum insured estimate. Getting it right is important because, in many cases, it’ll be the maximum we’ll pay if your property were destroyed (minus your excess) – for instance, if a natural disaster took out your rental. Using a sum insured calculator can make calculating the total rebuild costs easier. You can compare this amount against your own calculations to get the best sum insured estimate.

How do I know which insurance is best for me?

Buying the cheapest landlords insurance can feel like the right thing to do, but before you buy, there are a few things to consider. To compare quotes accurately, always check: The cover and limits – some insurance policy benefits have limits, so compare these to ensure you’re choosing the best cover for your needs. The financial strength rating – this tells you whether the insurer has the means to pay-out on your claims. This is particularly important in NZ because we are in a risky area for natural disasters and can have a lot of open claims due to widespread damage.

Glossary. Insurance lingo explained.

Accidental loss: Unexpected and unintended damage. Claim: A request made to your insurance company to compensate you financially for something covered by your policy. Cover: The protection provided by an insurance policy. Excess: The amount you need to pay when you make a claim before your insurance covers the rest. Exclusion: Specific conditions or circumstances that the policy does not cover. Premium: The amount you pay for the financial protection your insurance policy provides. Sum Insured: The maximum amount your insurer will pay for a covered loss.

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With State, you now only need to inspect your rental home every six months instead of three. Another way we make things breezy. Check policy wording for all the deets. Questions? Call us.

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Landlord’s Home and Contents Insurance

Covers your investment house and some of your stuff in it. Plus, in certain situations, we help with lost rent and removal costs for abandoned items.

Home and Contents combo

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Landlord’s Home Insurance

House insurance for your rental and other structures on the property. Plus, in certain situations, we help with lost rent and removal costs for abandoned items.

Landlord home benefits

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Landlord’s Contents Insurance

Contents insurance for furnishing and appliances your tenants use. Plus, some cover for lost rent and abandoned belongings. Good for rentals insured by someone else, like a body corp.

Landlord Contents benefits

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This information is intended as a guide only. Exclusions and limitations apply. Talk to us about these or refer to the full policy wording.

Icing on the Landlord insurance-cake.

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We don’t hide behind discounts and equations. We give you a great price upfront. Simple is best.

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Save time and hassle by getting home and contents cover for landlords in one policy. Less admin. More life.

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Our landlord policies are written in plain language. WriteMark accredited. Not such a chore to read.

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Our AA Financial strength rating means we have a very strong claims-paying ability.

Your FAQs answered.

Your sum insured should reflect how much it would cost to rebuild your house, including things like fences, driveways, demolition, debris removal, compliance and professional fees, plus GST. Getting this amount right is important because, in most cases, it will be the maximum we’ll pay if you suffer a total loss (minus your excess) – for instance, if a natural disaster took out your home.

Using a sum insured calculator can make figuring out the total cost easier. You can compare this amount against your own calculations to get the best estimate of your rebuild costs.

Sum insured calculator

Although going for the cheapest insurance may be appealing, it's important to weigh up several factors before making a decision. To effectively compare different policies, consider the following points:

Policy cover and limits: Insurance policies can vary in what they cover and the level of protection they offer. It’s important to compare limits to ensure you choose the best option for your specific needs.
Insurer's Financial Strength: This rating reflects how capable the insurer is of paying out claims. Particularly in regions like New Zealand, where natural disasters can cause significant losses, ensuring your insurer is financially secure is crucial.

To help you understand insurance better, we've explained some common insurance terms in our glossary. Visit State insurance terms glossary.

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Inspect less. More flex.