Need lifestyle block insurance?
Despite the growth of urban areas all over New Zealand, having your own piece of land remains the quintessential dream for many Kiwis. But whether you’re swapping the big smoke for a laid-back rural lifestyle or downsizing from a farm to something more manageable, there are plenty of things to consider when insuring a lifestyle block.
Liability cover
“Many of us have a ‘that’s never going to happen to me’ mindset,” says Chelsea Simpson, an FMG insurance consultant who specialises in lifestyle blocks. “If the unthinkable were to happen though, and if you were liable, it could be a big loss that could really set you back.”
While many people ask FMG for a standard lifestyle insurance package, what sets FMG apart is that every policy they create is 100 percent customised, “because every property is different.”
“We take the time to find out what a piece of land is being used for, what sets it apart from others, what realistic risks could occur, then customise a policy that suits them.”
Fence repairs
Fencing is one part of a property that many people don’t insure because they think it would be easy to repair and pay the bill themselves.
“If, for example, a massive weather event was to destroy your fencing and you couldn’t get working on your property again until your fences were up to scratch, not having specific fencing cover could be really stressful. Insurance cover isn’t always about financial cover; it’s also about minimising the mental toll of significant claim events.”
Rural experts
After extensive market research, FMG realised that while there were plenty of companies that offered farm-specific insurance advice, there was a gap for people who were moving into the lifestyle sector. Lifestylers were either signing up to a farm policy which included way too much cover or using standard residential cover which just wasn’t enough. In response, FMG established a specialist lifestyle team in 2018, and now they have 15 consultants who service all of New Zealand.
“I love my job,” says Chelsea. “Our clients love to talk about their properties: why they’ve bought it, what they’re doing with their block or the plans they have – they’re really proud of their block and they want to do all they can to look after it.”
“I get a kick out of knowing that I’ve helped someone protect their property against those unforeseen circumstances. They’re not paying for insurance.
They’re paying for peace of mind.”
*This article includes a summary of FMG’s products and is subject to our specific product documentation and underwriting criteria. The relevant policy wording can be found on our website www.fmg.co.nz or by calling us on 0800 366 466.