Own a house?

Have you checked your sum insured?

Insurance
  • 1 January, 2015
  • RESIDENTIAL
  • Buying, Insurance

It has been over a year now since house insurance has changed to a Replacement Sum Insured.  As renewals are coming up, the Replacement Sum Insured is being inflation adjusted to ensure you have the correct cover. 

It is recommended by insurance companies that you obtain a quote from a Registered Valuer (if you have not already done so) or check the www.need2know.org.nz website.  This will step you through details of your house to obtain a Replacement Sum Insured Amount.  Once you have confirmed the Sum Insured, call your Insurer if you need to adjust the amount.

Remember the sum insured of your house includes outbuildings, decks, driveways, fences, demolition costs, professional fees, swimming pools, tennis courts and retaining walls.  Limits may apply to swimming pools, tennis courts and retaining walls.

 We refer you to your applicable policy wording or your Insurer for clarification and discussion

LJ Hooker NZ

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