Protecting your biggest asset
Having your home properly insured is often a requirement if you have a home loan. Your home is often the foundation of your lifestyle and is likely to be your biggest asset, so protecting it is important.
Know what you're covered for
If you take out a new PremierCare home insurance policy, your home will be covered under a Total Sum Insured policy. Under a 'Total Sum Insured' policy the cost of repairing or rebuilding your home is limited to the sum you insure it for.
If you still have a PremierCare 'Actual Replacement' policy
When your PremierCare policy renews, it will automatically change from an 'Actual Replacement' policy to a 'Total Sum Insured' policy. It's important for you to understand the change when you move to a 'Total Sum Insured' policy. The amount you insure your home for on a 'Total Sum Insured' policy needs to reflect the likely cost of rebuilding your home as accurately as possible. This Total Sum Insured will also be the maximum amount any insurer would pay out in the event of a claim.
To help you work out the estimated cost of rebuilding your home, you can:
- Visit need2know.org.nz, where there is an easy-to-use calculator^
- commission an independent Valuation for Insurance Purposes from a registered valuer
- hire a professional assessor or licensed builder
- talk to one of us on 0800 275 269
You'll be covered for accidental and sudden loss or damage to your home up to the Total Sum Insured for your home. It also includes cover for new building works (other than alterations) being constructed on your property where the value won't be more than $10,000. You're also covered for hidden gradual damage caused by water leaking from internal tanks or pipes (up to $3,000).
Glass and bathroom fittings
If you claim solely for sudden and accidental breakage of window glass or bathroom fittings, your claim-free discount won't be affected, but an excess of $250 applies.
Cover for your home office
If you use any part of your home solely for a home office, you will automatically be covered for any sudden and accidental loss or damage caused to the home office. Limits apply.
If your home suffers a total loss, you are covered for up to $15,000 (on top of any claims payout) to rebuild your home using approved sustainable products.
Optional cover for landlords
If you are a landlord, optional insurance protection can also be purchased^ specifically for your needs. This includes cover for sudden and accidental loss to the landlord's contents on the property and any intentional damage tenants cause to the rental property. Loss to rental income, should tenants leave without notice or in the case of tenants being evicted, is also covered.
If you rent out a property, you should ensure that tenants have their own contents insurance. This will ensure they are covered for third party liability if they cause damage to your property.
If you have PremierCare home insurance plus PremierCare contents insurance, you'll be entitled to a package discount. Having a burglar alarm in your home could also earn you a discount.
Are you claim-free with another insurer?
If you're switching to PremierCare Home Insurance and you get a 'no claims discount' or 'claim-free discount' with your existing insurance company, you can continue to qualify for a claim-free discount with PremierCare.
Choose your excess
A standard excess of $400 applies for homes. You can reduce your premium by choosing a higher excess. Note that a higher excess applies to rental properties.
Collect Fly Buys^ points
You can collect Fly Buys^ Points based on the premium you pay. Premiums can be paid fortnightly, monthly or annually.
Keep your insurance close at hand in Internet Banking
You can quickly and easily view your insurance details online in Internet Banking. See your policy details anytime, or find out how to make a claim.
Get in touch about PremierCare Home Insurance
Insurance help and support
If you need some help, call 0800 275 269
Or call us collect from a land line from here or overseas +64 9 985 0103
To make a claim, call 0800 248 888
The need2know website is provided by IAG. BNZ accepts no liability for any loss or damage of any kind arising out of the use of, or reliance on, the need2know website.
Limits apply, refer to your policy wording for more details.
Fly Buys terms and conditions apply. Fly Buys points collection, conversion and redemption rates are subject to change without notice. Fly Buys are not available on credited premiums. Fly Buys terms and conditions apply. Fly Buys points collection, conversion and redemption rates are subject to change without notice. BNZ (and its related companies) do not guarantee the redemption of Fly Buys or that Fly Buys will continue to be offered on their products/services.
PremierCare Insurance is underwritten by IAG New Zealand Limited and is not an obligation of the distributor, BNZ. BNZ does not guarantee the obligations of IAG New Zealand Ltd. BNZ arranges PremierCare as an agent for IAG New Zealand Ltd and receives a commission on any policies arranged through it. Full details of cover, and a copy of your policy document, is available on request from the PremierCare Team on 0800 808 618. The availability of any insurance cover is subject to approval of a completed application. Terms, conditions, and exclusions do apply.
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