We hear regularly about the challenges of Dunedin student flats, expecially 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, it is enough to replace your possessions but, more importantly, cover damage you may be liable for.

 Something we get asked about from time to time.

From what we have seen and heard it's needed, as the treatment for your beloved pet is often more expensive than your own medical treatments.

We have access to assist with the PetCover range of products, and our clients have had a good experience with them so far. At the same time, we're not specialists in the area, and seeking additional information and experience with your vet is a good place to start.

In basic terms, income protection insurance in New Zealand replaces a percentage of your income when you cannot work in your own occupation due to medical or injury reasons. 

It is designed to provide 75-80% of your in-hand earnings when you are disabled at claim time.

Most policies today have a range of options and different flavours. Fundamentally, there are two types: those you pay tax on at claim time and those you do not. 

A question that is often asked, ‘So will the insurance company actually pay?’ Yes they do, they pay valid claims.

This is the issue, defining valid claims. Valid claims are claims that are both covered by the policy and the policyholders have been complete in their disclosure.

For example a cardiac event, similar to a heart attack, but isn’t severe enough to qualify as a heart attack under the definition of a heart attack on the trauma policy wording. This isn’t a valid claim, as it didn’t meet the definition of the policy document.

A better question, do you want your things to go to those you care about and have your family looked after?

• Yes? A will and good estate planning will help ensure this happens.

If you have good estate planning, it often means I can do better insurance planning for you. This often means you insure less and pay a lower premium.

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

As an insurance adviser, insurance premiums are part of what we cover with clients every day.

You know what, it does not matter how young or old you are, how rich or poor, the conversation around premiums is universally the same.

Let me get something clear out front. I am an insurance adviser, not an insurance agent.

This means, frankly, I do not care what cover you take or have, who it is with or how much you spend on it; so long as it is the right benefit at the right level at an acceptable premium for you.

They say all is fair in love and war. 

And it was first said by Miguel de Cervantes who made the comparison in 1604 in Don Quixote when he wrote, "Love and war are all one . . . Which was translated from the original Spanish used.

Variations have been used since, though it was not until 1850 that we saw the exact phrasing we know today.

Frank Smedley wrote in his novel, Frank Fairlegh: Scenes from the Life of a Private Pupil:

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.

I often hear from my colleagues and providers about using electronic applications. Often phrased with the comment, “With what you do with technology, it is surprising you do so much with paper?”

Interestingly clients are also often surprised with the paper too. Maybe there is too much and more digital could be included. We will see.

Frankly of everything I do, the application form is the most difficult part of the whole process for clients. When we are in an environment where things are being simplified, insurance applications have got more difficult.

One thing that people hate when it comes to life insurance is the paperwork.

The application form is a bit of a book, and it can be a bit daunting to complete, even when you are fit and healthy. We advisers do not like them much either, but they need to be done.

What most people do not realise when they have existing insurance cover, that there are features built into many policies that let you increase them without lots of paperwork.

I'm looking for insurance cover, but I do some interesting things;

By interesting things, I'm assuming this is related to your hobbies, activities and occupation. 

Insurance companies do take an interest in what activities you do because sometimes they are risky. Immediate things which come to mind for most people are bungy jumping and parachuting. The list is much longer.

 If you hear this, your adviser may not have explained things as clearly as they could have. 

'Terms' is industry slang or jargon for special terms, which means a client's policy has been modified, by the insurer, from the original standard policy contract your cover was proposed on. 

The offer of terms or special terms offer generally happens at application time, but can be applied during the policy or at claim time. If the insurer becomes aware of a material fact, that will change the terms of the contract the insurer would have offered at application time. Avoid the later two examples as they can have unintended and surprising outcomes. 

It seems there is plenty to write about this week. 

Russell Hutchison has said the following on his blog moneyblog this week.

An Australian man whose daughter went to live in Syria claims she did nothing wrong by going there, and was misled into the venture which was supposed to be for humanitarian purposes. Headlines describe her as a "Jihadist." But her motivation is not the point as far as the insurance claim is concerned.

Diana’s Clements recent article on heart attack definitions in trauma insurance and the situation of a claimant in Australia, not getting paid for his heart attack, has put the spot light on the definition of a heart attack in trauma insurance here.

Looking into heart attack definitions in the market, from what you can presently buy, the quality level across heart attack definitions is quite surprising.

There has been plenty of contention about Sovereign heart attack definitions over the years. The rating for this would suggest it’s somewhat founded, with a 21% gap between it and the best rated heart attack definition.

As our largest life insurer, Sovereign also has the largest number of trauma policies on their books.