MARKETING: Bach and holiday home insurance

Bookabach and Initio have teamed up to provide our property owners with an insurance policy that covers your holiday home and also the specific risks related to renting your property out.

Initio, underwritten by Lumley (IAG New Zealand Ltd), is a specialist holiday home and rental property insurer.  This insurance has been specifically designed to provide property owners with greater peace of mind.  It’s insurance cover that addresses the specific additional risks related to the use of the holiday homes for short term rental accommodation.  Plus, it’s all done online! The Initio policy replaces your current holiday home insurance (theres no need to keep your current insurance in place) and can cover situations such as:

  • Theft or damage at the property during a short-term holiday rental:  This is something that every holiday home owner dreads, and yet many policies provide limited or no cover for this risk.
  • Malicious damage or theft at the property while it’s empty: This is even more likely.  Surprisingly, your existing insurance policy may have limitations on it’s cover while the property is unoccupied.
  • Your liability as it relates to personal accident of injury:  The onus is on you to provide a safe and secure environment.  If someone does have an accident at your property, as the owner,  you can be held liable.  Having the right liability cover in your insurance policy helps protect you from protracted and costly legal battles.
  • Your loss of rental income resulting from your property being un-tenantable after damage. Don’t underestimate how long major repairs can take. 

This insurance product has been specifically formulated to address these risks.

Policy features

Description of cover Limit of cover Excess
Full replacement to a Sum Insured Replacement sum insured You choose
Major malicious damage by tenant (fire and explosion) Replacement sum insured You choose (min $500)
Other deliberate damage by tenant $25,000 You choose (min $500)
Loss of rents cover (following damage) $20,000 or $40,000 Nil
Landlords/Owners contents (your choice of present day or replacement cover.) $20,000 - $120,000 You choose
Hidden gradual damage cover $3,000 You choose
Owners legal liability cover $2,000,000 You choose
Full earthquake cover Replacement sum insured You choose

How to get insured

The Initio website generates quotes on the spot and you pay online to receive your policy.  You’ll need to know the size of your bach or holiday home in square meters, and what you want to insure it for.  It is important that you specify a replacement sum insured that reflects the actual cost to rebuild your home and section improvements (fencing, pools etc) from the ground up.

Once you go through the online steps your policy confirmation and your login to the Initio website will be sent to you automatically.

Get a quote now!

More info

Got questions? Visit Frequently Asked Questions (FAQs) on the Initio website.

Read the Resource article Got Insurance? (No really?)

Initio Insurance

  • Purchase insurance online It’s quick, easy and gives you instant cover.
  • Secure payment system Visa & MasterCard accepted through Initio’s secure payment page
  • Manage your insurances Immediately receive a login to your personailised insurance dashboard
  • Insured by Lumley Reputable S&P rated A- (strong) insurer underwrites your policy.
  • Make & monitor claims online Effortlessly lodge a claim and follow its progress.
  • Email & Full Support If you get stuck you can reach real people too!