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Personal Insurance in New Zealand: Securing Your Future with Gerrards Insurance Brokers

In a world rife with uncertainties, protecting our assets through insurance becomes an essential part of securing our future. Personal insurance, in particular, offers an extra layer of security for your valuable assets such as your home, car, and possessions. As a part of Gerrards Insurance Brokers, we’re committed to helping you navigate the complexities of personal insurance, ensuring you get the best possible deal and cover. 

What is Personal Insurance?

Personal insurance is a type of insurance that provides financial protection for your personal assets against various risks. It covers areas such as your home (house insurance), personal possessions (contents insurance), and vehicles (car insurance), offering a safety net in the event of unexpected damage or loss.

Why is Personal Insurance Important?

Personal insurance is crucial for several reasons. It provides financial compensation in case of damage, theft, or loss of your assets, helping you get back on your feet after a mishap. It can also shield you from potential lawsuits or legal claims that could otherwise create financial strain. Ultimately, personal insurance allows you to live confidently, knowing that you’re prepared for unforeseen circumstances.

What Types of Personal Insurance are Available?

There are several types of personal insurance available to cater to different needs:

House Insurance

Covers your home’s structure against risks such as fire, storm, flood, and theft.

Contents Insurance

Provides protection for your personal belongings inside your home, including furniture, electronics, clothing, and jewellery.

Car Insurance

Protects your vehicle against damage, theft, and provides liability coverage if you’re at fault in an accident.

How Much Does Personal Insurance Cost?

The cost of personal insurance varies based on multiple factors like the type and value of the asset, the level of coverage chosen, and the risk associated with the insured item. Typically, higher valued assets with comprehensive coverage in high-risk areas will attract higher premiums. It’s advisable to seek guidance from a professional insurance broker like Gerrards to understand the costs better.

Determining the Right Coverage

To determine the right amount of coverage for your home, contents, and car, consider their current value and the potential costs of replacing or repairing them. For your home, consider the cost of rebuilding, including materials and labour. For contents insurance, calculate the replacement cost of all your items. For your car, consider its market value and potential repair costs. Remember, under-insuring could leave you out of pocket, and over-insuring means you’re paying more than necessary.

Risks Covered by Personal Insurance

Personal insurance typically covers a range of risks, including theft, damage due to accidents, fire, storms, and floods. It can also offer liability protection in case you’re legally responsible for injury to another person or damage to their property.

Business Insurance for Home-Based Businesses

Even if you operate your business from home, business insurance is necessary. Home insurance typically doesn’t cover business-related losses, so a separate policy is needed to protect your home-based business.

Legal Requirements for Personal Insurance

In New Zealand, there are no legal requirements to have house or contents insurance. However, basic car insurance (third party insurance) is highly recommended as it covers your liability if you damage someone else’s property.

Cover for Natural Disasters and Legal Claims

In New Zealand, natural disasters like earthquakes, landslips, and volcanic eruptions are generally covered under home insurance policies, but it’s vital to check your policy for specifics. Similarly, personal insurance policies often include liability cover, providing protection against lawsuits or legal claims related to injury or property damage.

Combining Different Types of Insurance

Many insurance providers offer the option to bundle different types of insurance into a single policy. This could be a convenient and cost-effective way to manage your insurances.

Saving Money on Personal Insurance

Here are five tips to help you save money on personal insurance:

Bundle Your Policies

Insuring your home, contents, and car with the same provider can often lead to discounts.

Increase Your Excess

A higher excess can lower your premium, but ensure it’s an amount you could afford if you need to make a claim.

Secure Your Assets

Installing security measures like alarms and deadlocks can reduce your premiums.

Review Regularly

Regularly review your policy to ensure you’re not paying for unnecessary coverage.

Use a Broker 

Brokers can be more expensive for personal insurance up front but can save you significantly in the long by getting you superior cover or advocating with the insurer on your behalf  come claim time. 

The Difference Between Contents and House Insurance

While house insurance covers the physical structure of your home, contents insurance protects the belongings inside it. House insurance is essential to cover potentially massive costs of rebuilding, whereas contents insurance helps replace or repair your possessions if damaged, lost, or stolen.

Duration of Personal Insurance

Personal insurance policies typically last for one year and need to be renewed annually. However, the duration may vary depending on the terms and conditions set by your insurance provider.


In conclusion, personal insurance is a critical safety net for your most valuable assets. Whether you’re looking to secure your home, protect your belongings, or cover your car, Gerrards Insurance Brokers is here to help you get the most effective cover at the best price. Contact us today to start your journey towards peace of mind.

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