ASB Home & Contents Insurance

Home and contents insurance can be a safety net at the worst of times, so it helps to find an insurance provider that covers you in the areas you need. Here’s what ASB’s home and contents insurance policies include.

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What’s on offer from ASB’s home and contents insurance?

ASB’s home and contents insurance is underwritten by IAG NZ Limited. It can be purchased separately as home insurance and contents insurance, or can be bundled into a home and contents insurance package. If you bundle the policies together, discounts apply.

Click below to see how ASB’s home and contents insurance compares to other providers’ offerings.

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What’s on offer with ASB’s home insurance?

This policy protects you should your home be damaged or destroyed. In addition to covering the costs to repair or rebuild, ASB Home Insurance includes benefits, including:

  • Cover the costs of temporary accommodation for you and your family for up to 12 months, or $20,000
  • In the event of a total loss, ASB will provide a stress payment of $2000
  • Legal liability cover will protect you should a neighbours property be damaged.
  • Hidden gradual damage such as rot from a leaky pipe\
  • Recreational features, up to $40,000
  • Retaining walls, up to $20,000
  • Gardens and lawns, up to $2500

There is also a discount if you have a burglar alarm and claim-free discounts.

What’s on offer with ASB’s contents insurance?

ASB’s contents insurance offers two levels of contents insurance cover: Basic and Classic.

Basic cover

Basic cover provides cover on contents valued from $10,000-$30,000 with a mixture of market value and replacement value. It also provides you with replacement value on most items less than five years old, and computers less than three years old.

  • Market value is what the items would cost to replace or repair in the current market, given their age and condition immediately prior to the loss
  • Replacement value means you’ll receive brand new replacement items, regardless of how old your items were when they were lost or damaged
  • Legal liability cover, up to $1 million for causing accidental loss or damage to someone else’s property or injury to someone else in NZ

Classic cover

Classic cover provides replacement value on many items where the item is lost, destroyed or cannot be repaired. Other benefits include:

  • Cover for your items if they are temporarily anywhere else in New Zealand
  • Cover for your children’s possessions while they are living in tertiary education accommodation
  • Gradual damage cover
  • Up to $20,000 for temporary accommodation
  • Up to $1000 to replace lost, damaged or stolen locks and keys, with no excess or loss of claim-free discount

Both policies have the option to add:

  1. Goods in Transit Insurance

    This covers sudden and accidental loss or damage to your contents while they are in transit from one permanent residence to another.

  2. Goods in Storage Insurance

    This covers sudden and accidental loss or damage to your contents while they are in a secure storage facility for a set period of time.

About ASB

In June 1847, the Auckland Savings Bank, New Zealand’s first savings bank, opened on Queen Street. Since then, ASB has been committed to bringing New Zealanders the best banking products and services possible. ASB currently employs over 5500 people across the country.

Written by: Andrew Broadley | Last updated: August 11, 2021

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