Congratulations! You’ve navigated New Zealand’s competitive property market and are about to become a first-time homeowner. Between saving for the deposit, securing a mortgage, and dealing with lawyers and real estate agents, insurance might be the last thing on your mind.
But here’s the reality: your new home represents the largest financial commitment you’ll likely ever make. Without proper insurance protection, you could lose everything you’ve worked so hard to achieve.
Essential Insurance Types for First Home Buyers
1. Home and Contents Insurance
This is non-negotiable. Your mortgage lender will require buildings insurance, but you should also consider:
- Full replacement cover for your home
- Contents insurance for your belongings
- Natural disaster coverage including earthquakes and floods
2. Mortgage Protection Insurance
If something happens to you, mortgage protection insurance can:
- Pay off your remaining mortgage balance
- Ensure your family can keep the home
- Provide peace of mind during uncertain times
3. Income Protection Insurance
This covers your mortgage payments if you can’t work due to illness or injury:
- Typically covers 75% of your income
- Payments can continue for years if needed
- Essential for maintaining your lifestyle and mortgage payments
Getting Started
Don’t wait until it’s too late. Contact Cornerstone Insurance today to discuss your insurance needs as a first home buyer.
Contact Information:
- Phone: +64 211 280 727
- Email: amy.tao@cornerstonefs.co.nz
- WeChat: Amytaoingrace