Contract works insurance

Building a new house - or making structural renovations to an existing house? Contract works can help to protect you when things go wrong.

Benefits at a glance

  • Covers new builds or structural alterations to your current house
  • Provides cover for the building materials, equipment, tools being transported to your building site
  • Full support of ASB when you need it
  • Cover tailored to your unique building needs
  • Provides cover for loss and accidental damage while building work is being done

How it works

Your existing ASB Home Insurance does not 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 for the period of time that work is being done.

To qualify for cover, you will either have existing ASB Home Insurance and have contracted alterations to your home, or you are building a new home.

Key features:

  • Insures your new home as its being built, or an existing house whilst it is having alterations made, against loss and accidental damage, during structural alterations or construction work
  • Cover can vary depending on the risk and the size or detail of the planned alterations or the new build

Exclusions from cover:

Contract works insurance does not cover:

  • Repairing or replacing faulty building materials or workmanship
  • Wear and tear, rot, corrosion, rust, mildew, decay or gradual deterioration
  • Any loss, liability, prosecution or expense of any type connected in any way with a building or structure caused by not complying with the code

More information and a complete list of exclusions can be found in the policy wording.


The standard excess on this policy is $500.

Who underwrites this policy?

ASB has chosen IAG New Zealand Limited (IAG) to underwrite our contract works insurance. View IAG's financial strength rating.

Get started today

01. Calculate

To find out how much cover you'll need, you will need to obtain costs and planning details of the proposed work/new build.

02. Quote

Call 0800 200 252 or come into any ASB branch and we'll help you to get a personalised quote.

03. Decide

Accept the quote and we'll get your insurance put in place.

04. Update

Tell us if something changes that might affect your policy.

Let's talk about contract works house insurance

Call us

It's quick and easy to get your insurance over the phone.

0800 200 252

Visit a branch

Visit us at one of our many branches across New Zealand and get your insurance sorted.

Find a branch

Ask a question

Need some help? We can provide you with more information.

Ask us now

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The availability of insurance 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. This insurance is underwritten by IAG New Zealand Limited (IAG). See further information regarding IAG's Financial Strength Rating.

Home and contents insurance Contract works house insurance