We can help you to arrange your home insurance over the phone.
Whether you have a home loan or you own your home outright, having ASB Home Insurance can help cover you against the unexpected.
Your home is probably the most valuable thing you’ll ever buy, so it’s important to take time to make sure you’re getting the right type and level of protection. Having home insurance cover on your property is also likely to be a requirement of your home loan. ASB Home Insurance provides comprehensive cover from accidental damage or loss, up to the sum insured amount.
If you have a rental property, you might want to consider ASB Landlord’s Protection. This is optional cover you can add to your ASB Home Insurance and covers you specifically for occurrences that affect landlords; things like intentional damage to your rental property by your tenant, hidden gradual damage to the property, or loss of rent as a result of your tenant leaving without notice.
ASB Home Insurance provides you with cover for loss or damage to your house from a wide range of perils that might cause sudden and accidental damage. ASB Home Insurance covers:
For full details including benefits and exclusions please refer to the policy document.
Homes aren’t insured for market value, which is an estimate sale price. Homes are insured for ‘sum insured’, which is the estimated cost for a total rebuild, including things like the cost of debris removal, special features and GST. The following diagram shows how your total sum insured is calculated:
Your rebuilding cost estimate should be what it could cost to rebuild your home on its current site to its present size and standard. This should include things like demolition, removal of debris, professional fees and compliance costs. You should also include the cost of rebuilding other structures, including decks, permanent driveway surfaces, sheds, garages and fences, as well as:
Visit our Sum Insured page for more information and get a rebuilding cost estimate with our easy to use calculator. Alternatively, you can consult a professional to complete a valuation for insurance purposes.
If you undervalue the estimated cost to rebuild your house and need to claim, you run the risk of not being able to rebuild to the same quality or size. That's why having an accurate valuation is important.
Keeping your policy up to date means that should you ever need to claim, you will receive the cover you expect.
To ensure you are fully covered, you need to tell us when:
Please ask us if you're not sure whether you need to tell us about something.
And because the cost to rebuild your home is likely to change with time, we also recommend that you review your sum insured every two to three years. This should take into account increased costs of labour and materials in the building industry, and any new building code or compliances.
There are a number of ways you could reduce your home insurance premiums:
Some accidents are unavoidable, but there are a number of ways you can reduce the risks of damage to your home.
ASB Home Insurance does not cover gradual damage (although there is limited cover for up to $5,000 for hidden gradual damage), so taking good care of your home is the best protection against damage related to wear and tear. You can also avoid costly problems in the future by carrying out regular maintenance, such as having your heating serviced, treating mould, clearing leaves from guttering and keeping your garden under control.
House fires destroy properties and can be fatal. You can reduce the risk of fire at your home in a number of ways:
Here is further advice from Fire and Emergency New Zealand on how to minimise fire risk in your home.
Earthquakes are a fact of life in New Zealand, so it's worth taking the following steps to minimise damage should one occur:
The New Zealand Government's Easy Ways To Quake Safe Your Home guide provides more practical advice on how to prepare your home for an earthquake.
If you have your home and contents at the same address insured with ASB, and there's an incident that damages a combination of your home and contents, you only need to make one phone call and pay one excess.
You’ll also have one claims handler managing your claims, so you won’t need to repeat yourself.
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.