Retail Tenant — NZ Commercial Property Cover Compared
Independent retailer occupying a leased shop or kiosk — stock, fixtures, glass, business interruption.
Retail tenants typically need cover on their stock + fixtures + fitout (the landlord covers the building structure). Glass cover, money cover, theft cover, and a 12-18 month BI indemnity period are the key dials. Most FCIB-panel insurers can place this risk; QBE + Zurich are common for medium-value stock retailers.
FCIB panel for this risk class
For this risk class, FCIB typically places business through: QBE , Zurich New Zealand , NZI .
What matters in the wording
Relevant fact keys for this risk class:
sum_insured_basis— Sum insured basisperils_covered— Perils coveredsublimits— Sublimitsmoney_cover— Money covertheft_cover— Theft coverindemnity_period— BI indemnity period
Watch out for
- Confirm whether glass + signage cover are included or sublimited — high-street retailers face frequent window damage.
- Theft sublimit caps vary widely ($25k-$500k typical) — high-value stock retailers (electronics, jewellery) need top-tier sublimits or separate Crime cover.
- BI indemnity period needs to match how long stock + fitout would take to replace, not just rebuilding time.
Side-by-side wording extract
QBE
QBE Material Damage & Business Interruption
Sum insured basis
Perils covered
Sublimits
Money cover
Theft cover
BI indemnity period
Zurich New Zealand
Zurich Material Damage
Sum insured basis
Perils covered
Sublimits
Money cover
Theft cover
BI indemnity period
NZI
NZI Commercial Property Material Damage
Sum insured basis
Perils covered
Sublimits
Money cover
Theft cover
BI indemnity period
Delta Insurance
Delta NZ Property MDBI (March 2024)
Sum insured basis
Perils covered
Sublimits
Money cover
Theft cover
BI indemnity period
Dual New Zealand
DUAL New Zealand MDBI (04.22)
Sum insured basis
Perils covered
Sublimits
Money cover
Theft cover
BI indemnity period
AIG
AIG Steadfast Material Damage