Rental Property Insurance

Rental housing plays a prominent role in the New Zealand housing landscape. Approximately one in three Kiwi households—around 33%—are renters, marking a notable increase over recent decades and highlighting the growing importance of effective landlord insurance strategies. Given this substantial portion of the population relies on renting, landlords face unique risks, from natural disasters and tenant-related incidents to potential gaps in coverage that traditional homeowner insurance simply doesn’t address.

Hummi’s Rental Property insurance is specifically designed to give landlords peace of mind. It includes the standard covers such as for the building and natural disasters, and adds in additional cover specific to rental properties. These include intentional damage and methamphetamine contamination.

The policy can be paired with a comprehensive Landlord policy providing even more protection from tenant related risks such as absconding tenants and pet damage.

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This policy at a glance

Product:
Property cover for residential rental properties

Underwriter:
Certain Underwriters at Lloyd’s of London – lead syndicate Beazley 2623

Target Market:
Residential rental properties

Policy Term:
Annual

Why choose Hummi for Rental Property Insurance

Comprehensive cover for landlords to protect their investment

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Cover specifically designed to address key risks that not all insurers cover, including intentional damage by tenants and methamphetamine contamination

Comprehensive coverage backed by global strength and certainty delivered through Lloyd’s of London

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What's covered?

Comprehensive property insurance product
Full replacement cover
Intentional damage to $100,000
Cover for methamphetamine and hazardous substance damage to $100,000
Natural hazards
Property owner’s liability

Excesses

From $1000

Underwriting approach

Appetite for all rental properties up to $5,000,000 site sum insured

Extra inclusions

Cover for loss of rent
Landlord’s chattels that are provided with the tenancy
Gradual damage to $5000

Landlords obligations

Carry out internal and external property inspections at least every six months.
Conduct inspections whenever there is a change of tenancy.
Keep written records of each inspection and any issues identified.

Package with

Landlord Classic or Premiere to cover additional tenant related risks

Key exclusions

Short-term tenancies
AirBnB and similar
Owner occupied properties