What we cover
From burglaries and theft to weather events, stock damage, and fires every business has its own set of considerations when it comes to insurance. With no two businesses being the same, it’s important to consider the specific insurance needs for your situation and ensure that you have the right cover in place.
Proactive risk assessments, along with well-considered commercial property insurance will help to mitigate your risk of loss and damage, provide peace of mind, and help keep your business trading even if misfortune strikes.
Material Damage insurance can cover the cost of repair or replacement of your business’s physical assets if there is accidental loss or damage to them. This policy is designed to support fixed-location businesses, and protects tangible assets like your stock, office furniture, plant and equipment, raw materials, and business premises you own, like shopfronts, offices, and warehouses.
Limited cover is included for your employees’ tools and personal effects while they’re at work.
Mobile Business Assets insurance is for businesses that don’t work from a fixed location, like builders, electricians and other trades. No matter where you or your employees are in the country, you’ll be covered for accidental loss or damage of tangible assets while on the job.
Covered assets include things like tools and equipment. Optional extensions are also available to provide cover for accidental loss or damage to refrigerated goods, and damage from natural disasters.
Business Interruption insurance helps protect your business from loss of revenue, profit or rental income as a result of loss or damage you’re insured for under a Material Damage policy. This policy helps provide peace of mind, by returning your business to the same financial position it was in before the loss and allowing it to keep operating.
Business Interruption insurance can also cover things like payroll and wages, redundancy pay, additional costs to resume or maintain normal business operations, costs to prepare your claim, and costs to rewrite records resulting from the damage.
Residential Buildings insurance covers accidental loss or damage to multi-unit residential buildings like apartment buildings. It also covers lost rent and alternative accommodation costs if a unit can’t be rented or lived in because of insured damage.
Included in this policy is cover for hidden gradual damage, landlord’s contents, methamphetamine contamination and stolen keys. We also cover your (includes the body corporate and individual proprietors) legal liability for accidental loss to someone else’s property and bodily injury to anyone else, when caused by an event in connection with your ownership of the insured building and/or landlord’s contents.
Risk management
NZI has extensive experience in providing expert risk management advice to help our customers remain in business. Our Risk Consulting team visit over 3,000 customers each year identifying areas of risk from electrical hazards, flooding, fire, cyber loss, and theft. We create strategies to help mitigate loss or damage and help protect our customers’ business reputation and market share.
Electrical assessment
NZI’s Electrical Assessment team are trained electrical inspectors that help New Zealand businesses to identify electrical hazards before they result in a loss.
Our electrical assessment team support NZI customers by providing a complimentary inspection of areas of high risk, such as wiring, switchboards, and other common electrical fire hazards to ensure they are operating at a safe level. The team use the latest tools to assess potential issues including thermographic cameras and provide businesses with proactive measures to mitigate risk.