Five questions to ask your insurance broker: Thanks to FastTrack Insurance

Click here to visit FastTrack Insurances online

Hands up if you think insurance is boring, but a necessity?

It’s a payment that generally leaves your account and you hear nothing more, so you assume everything is okay.

But what if your luck runs out and your find yourself in strife? You’ll probably be extremely glad you spent the money.

Our friends at FastTrack Insurance are working hard to take a normal cost and use it to benefit the whole horse racing industry.

So far, they’ve added $80,000 to stakes up and down the country including an extra $5,000 to two races here at The Auckland Racing Club.

How did that happen? Well, when people sign up for insurance through FastTrack, they just need to let them know the name of their preferred racing club (Auckland Racing Club!) and then FastTrack does the rest, working out how funds are allocated.

FastTrack has also contributed over $100,000 to racing clubs throughout New Zealand via sponsorship so you could say they're a business that most definitely loves racing.

We sat down with the team from FastTrack & asked them five questions you should ask your insurance broker that you might not think you need to mention…

Do I really need to tell you about the claim I had last year that our insurer wouldn’t pay on?

YES. This is a material fact that is fundamental to insurance and must be advised, or you might find if you have a claim, that your insurer cancels your cover and rejects the claim because they didn’t know about it. This applies to any claim – paid on or not.

Do I need to tell you I lost my driver’s licence four years ago?

YES, for the same reasons above. This also applies for any criminal conviction, or if you’ve been declared bankrupt.

I have a painting that’s been in the family for generations, by a well-known artist – it’s worth a lot of money – do I need to let you know about this?

YES, all insurers will only cover works of art up to a specific limit, unless they are advised about it.

I use part of my house for Airbnb, do I need to tell you about this?

YES, there are specific details required and limits in some areas of cover. If you have a related loss and haven’t told your insurer, you may be out of luck with a claim.

Do I need to tell you I’m going away for four months, and the house will be empty the whole time? YES, as all insurers have limits of time where this is OK, and in some instances, cover will stop if you are gone too long and haven’t told your insurer.