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Property Insurance
Property insurance (often called contents insurance in New Zealand) gives you peace of mind for your belongings, such as clothing, jewellery, furniture and appliances, protecting you and your family from financial loss if something unexpected like a fire or burglary happens.
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Types of property insurance
What is usually covered:
- Household contents
- Furniture
- Clothing, bags and jewellery
- Electrical appliances
- Carpets and curtains
- Other personal belongings
Types of settlement:
- Replacement value
This is the most common type of cover. If your belongings are lost or damaged, your insurer replaces them with new items or repairs them to an as-new condition, up to the maximum sum insured you have chosen. - Indemnity (market value)
Your insurer takes into account how much your belongings had depreciated before the loss, including their age and condition.