Compare NZI RentSure vs AMP Landlord Insurance

Would you agree it was easier to be a landlord even one hundred years ago? I mean we lead to believe that people at that time were better and they would care more about someone else property. Since you are reading this article you are a landlord who is balancing the additional cost of Landlord Insurance VS potential cost of repairs.

Let me assure you – you are possibly now on the best resource in New Zealand – compares all types of insurance policies and in this case we are ( you & me) going to:

 Compare NZI RentSure vs AMP Landlord insurance.

Starting with heavy artillery first: If your rental property is damaged by unlawful substances (read “P” or amphetamines) AMP Landlord Insurance provides you with “$30,000”  to compare to NZI RentSure with only $25,000 limit on the repairs (think about what would you do if you have to come up with more than $100,000 to pay for all the repairs).

Now once the most important topic for New Zealand landlords about usage of “P” or damage by “P” is covered we can talk about money:

Compare NZI RentSure vs AMP Landlord Insurance premiums

NZI RentSure would set you back for $353.34 annually to compare to AMP Landlord Insurance which only cost $275.80 Both amounts include GST.

For seasoned landlord it is even important to know on the daily basis $0.97 vs $.075 obviously AMP Landlord Insurance not only better from the coverage point of view it is even cheaper.

Where is the catch?

Both quoted policies declared cost and limits of cover they provide. Interestingly to note that if you place AMP Landlord Insurance for $275.80 in place it would cover your rental payments only up to $500 per week and if you are charging your tenants more than the cost of cover will be increased. I think it is a very clever move by AMP Landlord Insurance: to start with you can take the risk and be only insured for up to $500 per week or if you are happy to pay a little extra then you cover your rental payments as much as you want.

If you decided to put in place NZI RentSure for $353.34 it covers up to $1,000 of your weekly rental income. Obviously NZI RentSure caters for Auckland landlords and their rents and this is the company main point of difference.

Majority of New Zealand landlords still judge insurance policies by premiums they pay however in this comparison the most important point is how the policy will respond to use of “P” and clearly AMP Landlord Insurance is the winner of the competition.

Another smart move AMP Landlord insurance performed by providing flexible approach to rent cover, let me explain:

Loss of rent due to property being left untenantable as a result of property damage

NZI RentSure covers 52 weeks of rental payments ( with $500 excess) to compare with AMP Landlord Insurance which has flexible approach paying out 52 weeks but (26 weeks at 100%; 13 weeks at 75%; 13 weeks at 50%) charging only $250 for excess.

Loss of rent following eviction of tenants due to non-payment of rent

Keep in mind you can only action it on the base of tenancy tribunal order. NZI RentSure pays your expected rent for 14 weeks. In comparison AMP Landlord Insurance pays with flexible approach for 16 weeks (8 weeks at 100%; 4 weeks at 75%; 4 weeks at 50%).

Property Damage caused by tenants:

NZI RentSure pays up to $25,000 and AMP Landlord Insurance pays up to $30,000 both companies put the limit for any one event.

If you want to put in place AMP Landlord Insurance please complete the form below.

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Download AMP Landlord Insurance Policy Wording

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Rentsure February 2015 Policy Wording
AMP Landlord Plan Policy Wording
RentSure vs AMP Landlord Plan Comparison

For your convenience I have even created a table for easy reference where you can compare the policies. If you want to receive the table and both policy wordings – just provide me with your name and email.

Please let me know if you have any other questions – I look forward to work with you.