Business insurance · New Zealand · Head-to-head
AMI Business vs Builtin
Two New Zealand business insurance options, compared side by side for New Zealand trades.
Which should you choose?
AMI Business and Builtin are both Tier A, which every business insurance entry without a reputation warning receives, so the tier does not separate them. Weigh the pros, cons, pricing and New Zealand-specific notes below against your trade and region.
AMI Business
Tier A · ListedIAG New Zealand's direct insurance brand, with a Tradies Insurance bundle quoted online or by phone
AMI is one of IAG New Zealand's brands, alongside NZI, State and Lumley, and sells business insurance directly to small businesses. Its Tradies Insurance bundle combines cover for tools and equipment (up to $10,000, plus up to $5,000 for employees' tools and belongings) with public liability (broadform) up to $2 million. Tradies can get a quote online or by phone.
Pros
- + Direct online or phone quote, no broker needed
- + Bundles tools cover and public liability for small trade businesses
- + Covers employees' tools and belongings up to $5,000
- + Monthly or annual payment
Cons
- − Tools cover is capped at $10,000 and public liability at $2 million in the bundle
- − Theft from an unlocked vehicle or job site needs an optional add-on
- − Sold direct, so there is no broker to advise on cover
New Zealand note
Quote online or call AMI on 0800 100 200, with monthly or annual payments. Tools are covered for accidental damage anywhere in New Zealand and for theft from a locked building or vehicle; theft from an unlocked vehicle or job site needs the optional Theft cover add-on, according to AMI's tradies page.
Builtin
Tier A · ListedTauranga-based insurance broker for builders and trades, with roots in 2002
Builtin Insurance Brokers Limited is a Tauranga-based broker for builders and trade businesses, holding a Class 2 financial advice provider licence (FSP28581) and belonging to the Steadfast broker network. It traces its history to 2002, when it began insuring Certified Builders Association members, and says it is family-owned, with Keryl and Ben Rickard as shareholders and directors. It places cover with insurers including Ando, IAG, Vero, QBE, Lloyd's, DUAL, UANZ and AIG, across liability, contract works, tools, commercial vehicles, professional indemnity, bonds and a Residential Completion Guarantee.
Pros
- + Broker specialising in construction and trades, with its own FAP licence
- + LBP professional indemnity for Licensed Building Practitioners
- + Instant online quotes for liability, tools and vehicles
- + Residential Completion Guarantee you can offer homeowners
Cons
- − No published prices; premiums quoted per business
- − Paid by insurer commission and may add advisory fees
- − Completion Guarantee has no post-completion defects cover
- − Steadfast network takes up to 1.5% of each policy from insurers
New Zealand note
Builtin offers LBP professional indemnity for Licensed Building Practitioners (errors in records of work and negligent supervision) and instant online quotes for liability, tools and vehicles. Its Residential Completion Guarantee covers a homeowner's lost deposit and non-completion up to 10% of the contract value, to a maximum of $100,000, with no post-completion defects cover. It is the named insurance partner for TANZ, NZCCA, Building Hub and PlaceMakers Plus members.
More New Zealand options
See all New Zealand business insurance vendors and the rest of the New Zealand directory.