Westpac Home & Contents Insurance

Home and contents insurance provides a safety net that helps alleviate the financial and emotional stress associated with the loss of valuable assets. Canstar reviews Westpac’s home and contents cover.

What home and contents policies does Westpac offer?

Westpac offers its customers a comprehensive home cover policy, as well as two choices of contents insurance: Full Cover and Renter’s Cover. Both are underwritten by IAG New Zealand Limited.

Canstar compares home and contents insurance, to help you find the right policy for you. Click below to see our comparison table, which features qualities including customer service and value for money.

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

According to Westpac, its comprehensive home cover policy offers customers the sum insured for accidental damage and, if you have a Westpac home loan, up to $1500/month (for three months) to cover payments.

Other benefits include:

  • Up to $2 million for legal liability
  • Up to $25,000 for temporary accommodation
  • $3000 for hidden gradual damage
  • Up to $2000 for new locks, keys and remote openers, with no excess
  • Up to $2000 for temporary fixes for your home after damage, with no excess
  • Fatal injury benefit (up to $10,000)
  • Damage before sale cover
  • A $1000 stress payment should you lose your entire home

Extra Cover for Landlords

Westpac offers extra home insurance for landlords for an additional premium. Optional extras include:

  • An additional $10,000 cover for chattels (e.g. appliances, furniture, blinds and drapes)
  • Deliberate damage protection + up to $25,000 rent coverage if your house is left uninhabitable as a result of  deliberate damage
  • Up to six weeks rent if tenants leave without notice, or up to 12 weeks rent if you evict tenants for not paying rent

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

Westpac has two choices for contents insurance, Full Cover or Renter’s Cover.

Full Contents Cover

Full Cover contents insurance offers customers new for old replacements for most household items regardless of age, plus:

  • Cover for expensive items such as camera equipment and jewellery
  • Up to $2000 for new locks, keys and remote openers, with no excess
  • $5000 of cover for your personal belongings while travelling to Australia or the South Pacific (for no more than 3 weeks)
  • Personal liability cover (up to $2 million)
  • Fatal injury cover (up to $10,000)
  • Up to $5000 for young person’s cover while living away from home
  • A $1000 stress payment should you lose your home completely 

Westpac will also provide temporary accommodation for up to 12-months, or $25,000, should your house be uninhabitable.

Renter’s Contents Cover

Renter’s Cover is ideal for those living in rented accommodation and wanting to insure contents up to $25,000. The policy covers:

  • Belongings that may be accidentally lost, stolen or damaged
  • New for old replacement of some major household items
  • Liability for accidental damage (up to $2 million)
  • A supplement for temporary accommodation (to a maximum of six-months or $5000). 

While Full Cover and Renter’s Cover share a lot of the same policies, the amount you are insured for varies between the two. There are also certain policies that are not included in Renter’s Cover, such as cover for lost or stolen keys, fatal injury cover and hidden gradual damage.

Westpac offers a 30-day free look period for both contents insurance policies. During the 30-day free look period customers can choose to exit their contents insurance policy and Westpac will refund any premiums already paid.

About Westpac

Arriving in New Zealand around 1861 as the bank of New South Wales, Kiwis today know Westpac as one of the country’s largest banking institutions with more than 1.5 million customers nationwide. 

Officially recognised as the bank of the New Zealand Government, Westpac offers a host of services to individuals, families, small and medium businesses, corporate and institutional organisations. 

This is only a summary of key benefits. Application for cover is subject to underwriting acceptance. For full details, exclusions and limitations, please refer to the Westpac website.

Written by: Caitlin Bingham | Last updated: June 23, 2023