NB: An iced tea and macaron should do the trick.
As you sit and browse through this website, take a moment to think about your home (if you own it). What exactly do you own? What are you actually insured for?
In later posts, I will go into the different types of ownership in more detail (you’ll need to prepare a nourishing soup to sip whilst reading those posts). Do you have your own driveway? Or do you use a driveway or cul-de- sac that others also use? Do you share construction elements with your neighbours? A party wall for example?
If you have answered yes to any of the last three questions, you may need to take a look at your title and see what it is, exactly, that you own and have liability for. Now that Sum Insured home policies have been introduced, it’s a good idea to make sure that what you have liability for has been considered in the value of your home policy. More on this in later posts.
To take a look at your title, have a fossick around in your papers draw or ask your lawyer to give you a copy. Alternatively, grab your credit card and go online. Bring up a website called Terranet and type in your address. A little thumbnail satellite image will pop up to help you confirm you have the right address (there could be hundreds of ‘Main Road’ in New Zealand).
On the second page of documents you can order, you will see Comprehensive Title with Diagram. That’s the best document to get as it gives a diagram of what you legally own or have part ownership of.