Building, facilities and all improvements

• Covered for full replacement value with a maximum of $150 million.
• Body corporate-owned plant and equipment - automatic cover up to $10 million for replacement sum insured.

Landlords’ fixtures, fittings and permanent appliances

• Automatically covered up to $10,000 replacement sum insured
• Permanent appliances are those fixed to the wall such as a dishwasher or heat pump.
• This applies to non-body corporate owned property. For commercial units, tenants should insure improvements under their own business insurance policy.

Loss of rents and alternative accommodation

• For a rental owner’s loss of rents, cover can provide up to $2.5 million per annum per owner for up to 24 months.
• Alternative accommodation for residential owner or occupier - up to $30,000 per month per unit for up to 24 months.

Liability insurances for potential lawsuits

• Public liability insurance for third party damage or injuries not covered by ACC that may occur on your premises - $10 million standard cover.
• Body corporate committee indemnity insurance to cover the costs of defending an action against a body corporate committee or individuals by third parties - $1 million standard cover.
• Statutory liability to cover against certain unintentional breaches of New Zealand law, resulting in prosecution - $1 million standard cover.
• Employers liability (if the body corporate employs staff) against accidents not covered by ACC - $1 million standard cover.

Orion insurance solutions are fully underwritten by Chubb Insurance New Zealand Limited, which has an “AA-” insurer financial strength rating given by S&P Global Ratings.  Global parent Chubb Limited is the world’s largest publicly traded property and casualty insurance company.