Shaky start to the week!
Well for most it was a rude awakening just after midnight early Monday morning – not really the shaky start that we were all after, let alone for many the need to evacuate their homes in the early hours of the morning. We all feel for our North Canterbury communities as they battle the aftermath and clean-up of such a significant event.
Business as usual
That aside here in Christchurch it will be largely business as usual and thankfully apart from being sleep deprived and a long rolling/rocking motion the city has come away relatively unscathed. Obviously, it is a little unsettling but with the events fresh in our minds of recent years we are quick on our feet to both reach out to each other and swing a plan into action.
Just FYI here is a quick note that we received from our contacts at AMI this morning:
Just letting you know that we temporarily have an embargo in place regarding taking on any new insurance risks anywhere north of Rakaia River through to Kapiti Coast. This will unfortunately also include properties already insured with AMI or other IAG brands (State, NZI, Lumley General etc).
My advice, if you have any auctions or sales coming up soon, is to get your agents to make contact with us all the same. We can then take details and keep you and your agents updated, rather than you having to continually enquire about whether new policies are being sold. I recommend using the Papanui@ami.co.nz email address; we will acknowledge these requests and will assign to one of our consultants to take ownership of. We can also start the process so that once IAG has issued the “all clear”, we can give the quickest possible turnaround.
I recommend that your agents prepare your customers for the fact that any insurer will definitely ask about possible damage from the recent severe earthquake, so they would be well advised to be proactive by speaking to the vendor about this.
Given our past experience following the Christchurch earthquakes, this was largely expected as reinsurers seek to minimise their risk until losses can be quantified. Click here to read more.
UPDATE: Major insurers have agreed to a deal to lift the “freeze” on new house insurance policies being issued. The Insurance Council of New Zealand has brokered a deal in which insurers will issue policies to new owners of homes, if they insured with the old owner. Click here to read more.
Maximising the current market
Well aware that time is fast running out prior to Christmas it is vital to maximise on the time left prior to the close of business for the year. With the Canterbury economy healthy and $100m still being spent on the greater rebuild weekly plus purchasers remaining active, there is no reason why a sale cannot be concluded in this end of year countdown – there is nothing like a deadline! Providing flexible possession prior or after Christmas will add another arrow to your quiver and something as simple as being open to additional viewing times can also ensure no opportunity is lost for the sale of your home.
Here at Team Griff we are conscious of the importance of getting the job done at this busy time of the year, so we are happy to strategise a plan best suited for the market and your circumstances.
Take care, keep safe and sleep well!
Griff and the team