What is replacement cover?

We understand that it can be difficult to calculate the exact cost of rebuilding your home. To give you greater peace of mind, we offer replacement cover, which you may qualify for if you’re one of our customers and your claim is for anything other than a natural disaster. Replacement cover allows the full repair, rebuilding or replacement of the damaged portion of your home to the reinstatement condition, regardless of the sum insured, provided you’ve taken steps to set an accurate sum insured and size of your home.

Refer to our policy wording for the full details.

What do I need to do?

Existing customers

Your Home cover will automatically be updated to include Replacement Cover at no additional cost. It's still important to check that the sum insured figure, and details regarding the size of your home you've provided us, are accurate and sufficiently cover the rebuilding of your home in the event of a natural disaster. You can calculate your sum insured here and then simply contact us to let us know the new value if it has changed.

Want to know more about Replacement Cover? Read our Frequently Asked Questions for further information.

Switching to us?

If you are thinking of switching your home insurance to us, then Replacement Cover will already be included as part of your cover. However, you’ll need to make sure you have taken all reasonable steps to calculate your sum insured correctly, and provided us with the correct size and details of your home. You can calculate your sum insured here. Once you’re happy with the figure, use it to get a quote.

You should also check that your new policy covers everything in the same way as your previous one, as cover can differ between insurance companies. Simply contact us if you have any questions regarding switching your cover to us – we’ll be happy to help you get things sorted.

Find out more about sum insured and read our Replacement Cover Frequently Asked Questions.

First time buying home insurance?

If you’re a first time home buyer, whatever type of home you have, you want to be sure that it’s protected. With our home insurance, you can trust us to get both the big and little stuff sorted when it matters. When you take out home insurance with us, Replacement Cover will already be included as part of your cover. However, remember you’ll need to take reasonable steps to calculate an accurate sum insured figure and to provide us with the correct size of your home and then use it to get a quote.

Find out more about sum insured or, have a look at our Home Insurance section on our Frequently Asked Questions page.

Frequently asked questions

Application for cover is subject to underwriting acceptance. Limits, excesses, terms, conditions and exclusions apply to the insurance cover referred to. For full policy and benefit terms and conditions please go to aainsurance.co.nz/terms.

^ This is general information and is not a recommendation, opinion or guidance on the sum insured that is appropriate for any of our customers.  Nor does this information provide any advice or opinion on the extent or adequacy of the cover provided by sum insured insurance. This information is not personalised financial advice and does not take into account the particular situation of our customers. Customers must make their own decision on the sum insured that is appropriate for their circumstances.