Do you actually need travel insurance? Or is your free cover provided by your credit card enough? Surely if something went wrong, the local or NZ government would sort things out for you?

Travel insurance is one of those things some people see as an unnecessary evil when it comes to planning a holiday. We like to think of it as an essential part of any holiday package, just like your tickets, food or accommodation. Yes, it is an additional expense, and yes, you may not need it. But like all insurance policies, it’s there to give you peace of mind and help you financially if things hit the fan.

If you’re planning to rent your home, first do your research about landlords insurance. That’s because regular homeowner’s insurance will not cover your investment property once a tenant moves in. As insurance advisors, we know our stuff and have done the hard work for you, compiling this key guide about the must know aspects of landlords insurance for you.

I recently had some contact with a colleague looking for assistance with a friend who had a car accident while working but didn't have commercial vehicle insurance.

• You have a car.
• You use it mostly for private use.
• You have comprehensive car insurance.
• You are involved in a hobby or sideline to your normal occupation.

Now, many people take the approach she'll be right, because when they last read their policy document, as an 18-year-old with their first car, it either said incidental business use was covered, or it could be covered, you just needed to let them know.

Just when you thought you'd sorted out your business insurance, someone asks if you've got small business liability insurance. Well, thanks so much for that, not! Who would have thought that besides insuring your stock and your business premises that there were further policies to consider?

The thing is, when running a small business in New Zealand, you're exposing yourself, your employees and your clients or customers to risk. The level of that risk depends on the services or products you provide, but it's still there regardless. By keeping informed about the small business liability insurance cover available, we can make informed decisions for our businesses.

We've fielded many complaints and challenges with Youi in recent times.

We've put this together because our clients who have been with Youi have consistently had a bad experience, either with quotes and especially with claims.

Now to be clear, we are not saying Youi do not pay their valid claims, that would be defamation and isn't what we are talking about.

Insuring your home seemed to be an easy task. You’d ring up an insurance company, they’d tell you what your home is worth and then you’re covered. If you make a claim, they pay up and you can repair or replace your home exactly how it was. But wait, because just like an infomercial, there’s now more to it.

One-Third of Kiwi Homes May Be Underinsured

We've been chatting in a number of groups about risk and insurance and we got chatting with Amanda from Southern Bride.

Having got married not too long ago myself, I appreciate the stress and challenges arranging a wedding can have.

Not to mention some of the risks that pop up with not only the celebration on the day, but the final parties before and some of the antics that happen.

Another reminder in the business section on stuff today, if you are renting you are responsible for any damage. and it can be substantial if it all goes wrong.

If you're renting you need to have some level of contents cover. Ideally enough to cover the replacement of your possessions but more importantly cover for damage you may be liable for.

Have you got it insured correctly? Martin Hawes article here, raises a particually direct point about your house insurance if it is in a family trust.

As Martin outlines in his article, 'underinsurance also ought to be a worry for trustees of family trusts and other trusts.

Trustees are obligated to look after (and properly insure) the assets of a trust, and if they do not, the beneficiaries can demand that trustees make good any losses. This means that if we had simply accepted the default amount from the insurance company ($693,000) and the house burnt down and cost $1.1 million to rebuild, the trustees could be liable for over $400,000. This should have trustees thinking hard.

Ok the OCR has moved for the first time in a long time and interest rates are all rising. Is this a problem? It depends on your perspective.

If you are a homeowner then yes it will have a direct impact, your mortgage payments will rise. Again, is this a problem?

If you bought your home some time ago when rates were higher and you have not borrowed more, it is probably not a problem and you have been enjoying cheaper money than you anticipated. Additionally you have possibly paid back more principal than you normally would have and you are now in a better position.

For the majority this will not be the case, certainly in Auckland if you have bought your first home or upgraded in the last 3-4 years, it will have been because the lower interest rates have assisted you to do this. The low interest rates probably had some impact on the increased house prices too.

The newspaper is full of timely reminders and this article is one of them. We are getting to 12 months in on the new home insurance approach of insuring for the rebuild value. It would appear that the vast majority are in for a shock when they have a loss to the house and they hear what it's going to cost to rebuild.

From the major insurers in the country the news isn't pretty. 60-75% of people took the rebuild value number on their insurance at the last renewal and just ran with it. Of the other 25-40% of people who did look at it and change it, 90% increased their cover.

The claims comment in the article would also suggest those who increased their coverage are the ones who probably have it right.

A timely reminder in the Herald today, especially for those students about to start the year and are flat hunting.

If you're renting you need to have some level of contents cover. Ideally enough to cover the replacement of your possessions but more importantly cover for damage you may be liable for.