Renovation and construction insurance that protects your home from start to finish
Building a new house or making alterations to an existing house? Contract works insurance can help to protect you if things go wrong.
Benefits of building and renovation cover
- Renovation or construction insurance tailored to your unique building needs.
- Covers new builds or structural alterations to an existing residential property.
- Cover for the building materials being transported to your construction site.
- Cover for accidental loss or damage during the construction period.
How it works
Your existing ASB Home Insurance doesn’t cover your house for loss and accidental damage while any structural alterations are being made.
Contract works insurance (also known as builders cover) provides protection during the construction period, covering risks related to accidental loss or damage of materials, equipment and tools. To qualify for contract works cover, you’ll either have existing ASB Home Insurance and a construction contract for home alterations, or you’ll be building a new home.
Key features:
Exclusions from cover:
Contract works insurance doesn’t provide cover for:
- Repairing or replacing faulty building materials or contractor workmanship.
- Wear and tear, rot, corrosion, mildew, decay or gradual deterioration.
- Any loss connected in any way with a building or structure caused by not complying with the New Zealand building code.
For more information on benefits and exclusions, call us on 0800 200 252.
Excess:
The standard excess on contract works insurance claims is $500.
Who underwrites this policy?
ASB partners with IAG New Zealand Limited (IAG) who underwrite our general insurance. View IAG’s financial strength rating.
Get in touch and we’ll sort your insurance today
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With ASB, you can protect your home, your stuff, and your family – all in one place. Our experts are here to help find cover that’s just right for you.
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Frequently asked questions
Manage your insurance
The availability of insurance cover is subject to your application being approved. Terms, conditions and exclusions apply. For full details, refer to the Policy Wording which is available from ASB Bank Limited. ASB General Insurance is arranged by ASB Bank Limited and underwritten and administered by IAG New Zealand Ltd. See details about IAG's financial strength rating.