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How changes to the insurance industry could be affecting your cover

In the event of a fire or natural disaster, do you know exactly what your insurance covers you for? Earlier this year a survey was conducted on  to find out what matters most to people about their General insurance, how much they understood the details of their policies and if they were aware of recent changes to the insurance industry, over 200 people responded.

A significant number said they didn’t know the full details of their policies or in what circumstances they might not be covered and many were unaware of changes to the industry. Realistically, how many of us read and understand all that fine print?


Brian Gilmour who has 30 plus years experience within the Finance & General Insurance market says…

“One of the main reasons people have trouble finding the right insurance is we all have different insurance needs to suit our lifestyles. These needs change over time. Your insurance needs today are likely to be quite different from a decade or two ago.

Finding the right kind of cover and the policies that best suit you can be a lot of work. It’s worth mentioning that price isn’t the only consideration when looking for insurance. Many of us do buy insurance based on price, but there are many reasons why one policy may be a better fit than another, such as excess, what’s covered in various circumstances and how easy it is to make a claim.

The Insurance market is changing, insurers have been hit hard by the Canterbury, Kaikoura, and Wellington Earthquakes, they now have increased data on risk by location and in some circumstances are pricing based on specific location.

This means that insurance is becoming more difficult to get in some ‘higher risk’ areas and home owners are facing some significant increases in premium to do so. Plus on the flip side, if you live in a low risk area, you may not be getting the benefits of reduced premiums either.

Home owners now more than ever need to thoroughly review their cover to ensure that they are insured adequately to meet their personal needs and that they have a competitively priced premium”

If reading this has raised any concerns, Brian has set up a group relationship specifically for people over 50 with one of New Zealand’s leading insurers – Vero Insurance New Zealand.

“I will provide a personal service working to ensure that you have your Home, Contents; and Car Insurance structured to meet your needs. We have partnered with Vero New Zealand a leading General Insurer. Vero has a 24/7 free emergency HELP assistance line in the event that you have an emergency or a need to make a claim. Vero Insurance New Zealand has been given an A+ insurer financial strength rating”

To get a no obligation free appraisal or to ask a question, please contact Brian via the enquiry form below:

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