Getting the contents insurance you need

Contents insurance gives you financial protection if your valuables are lost, damaged or stolen. We can help you choose the right kind of policy so that you can get the level of cover you need.


What contents insurance covers

Contents insurance generally covers things that aren't permanently attached to the structure of your house. Imagine if you could lift your house up, turn it upside down and shake it out – everything that falls out is contents. These items might include:

  • Jewellery and clothing
  • Sports equipment
  • Furniture
  • Electronic items such as TVs and DVD players
  • Soft furnishings such as curtains, bedding, rugs, mats and runners
  • Art
  • Garden tools, and much more

Contents insurance also provides personal liability cover of up $1 million should you be liable for accidental damage to anyone else’s property anywhere in New Zealand.


Choose the right policy

The type of contents insurance policy you choose can affect the amount you receive when you claim. ASB offers two types of policy:

ASB Classic Contents Insurance

ASB Classic Contents Insurance provides comprehensive cover which pays replacement value on most items where the item is lost, destroyed or cannot be repaired.

Replacement value means you’ll receive brand new replacement items, regardless of how old your items were when they were lost or damaged.

ASB Basic Contents Insurance

ASB Basic Contents Insurance is an option if you are on a budget or don't have as much stuff to cover. It provides cover for contents worth between $10,000 and $30,000 with a mix of market value and replacement value.

On certain items, you may receive market value. This is what the items would cost to repair in the current market, given their age and condition immediately prior to the loss.


Getting enough cover

ASB Contents Insurance is based on a 'sum insured' amount, this is the amount your contents are covered for, including GST.

Your sum insured needs to include the value of both general contents and specified items. Remember it is important to keep your policy up-to-date.

To help in estimating your sum insured, you can refer to our dedicated contents insurance sum insured information, which includes a free calculator you can use.


Specify certain items

Most contents insurance policies have a limit on the amount you can claim for certain items, such as bicycles, jewellery or artwork. ASB Classic and Basic Contents Insurance have different specified item limits, so it's important to check the relevant policy documents. If you find that you need more cover for particular items than the policy automatically provides, let us know and we can specify it for the correct value. In some cases we may ask you have the item independently valued.

It’s important to keep receipts and take photographs of specified items because you may need these if you ever need to claim.


Ways to lower your premiums

Once you’ve chosen the right contents insurance policy for you, there are a number of ways you can lower your premiums:

  • By having a burglar alarm in your home
  • By having two or more home, contents or motor policies with us
  • By being claim-free for a certain period
  • By increasing your excess; you can choose from a range of voluntary excess options


Keep your policy up-to-date

If the level of cover you need changes, let us know. This means that should the worst happen, you'll get the cover you expect.

Increase your cover when you buy new items

When you buy new items, you may need to increase the level of contents cover you have. Doing so means your policy is always up-to-date and your contents are covered at the right level.

Value and specify expensive items

If you have any valuable or antique items, make sure you specify them on your policy. Remember to update your specified items every two to three years as values are likely to have changed.

Keep records and take photos

It’s a good idea to keep a detailed record of your possessions. Store this information safely because providing receipts and photos at claim time will help us to process your claim more quickly and accurately. You can also register serial numbers for free using NZ Police’s Operation Snap website.


Insure when you're renting

It’s very important to get contents insurance when you are renting because your landlord’s insurance will not cover your belongings in the event of accidental damage or theft. There may also be situations where you could be held liable for damage to your landlord's property.

It’s also important to protect yourself from unexpected damage you may cause away from your home, where you could be personally liable for thousands of dollars. Having contents insurance will give you the peace of mind of having liability cover of up to $1 million should you be liable for accidental damage you may cause to anyone else’s property anywhere in New Zealand.

Get started today

1. Calculate

Estimate how much it would cost to replace the contents in your home. Calculate now.

2. Quote or Update

Call 0800 200 252 or come into any ASB branch and we'll provide a personalised quote or update your existing policy.

3. Decide

Accept the quote and we'll get your insurance put in place, or confirm the changes to your policy.

4. Update

Tell us if something changes that affects your contents insurance.

Other helpful guides

The availability of insurance cover is subject to your application being approved. Terms, conditions and exclusions apply. For full details, refer to the Policy Document which is available from ASB Bank Limited. The insurance premium discount does not apply to GST, government levies and optional extensions. This insurance is underwritten by IAG New Zealand Limited (IAG). See further details about IAG’s financial strength rating.

Home and contents insurance Getting the contents insurance you need