Police Home Insurance covers your home, outbuildings, walls, gates, fences, retaining walls and even your in-ground swimming pool. This insurance helps protect you from financial loss if your home is damaged or destroyed by unforeseen events.
Special Offer - Six month’s free home insurance
Police Welfare Fund members drawing down a new Police Home Loan are eligible for six-month’s free home insurance with Police Fire & General Insurance.
Accidental Damage Cover
This includes cover for accidental, sudden or unexpected damage to your home.
What will be paid?
The cost of rebuilding or repairing your as it was new, up to your sum insured* (including GST). Building materials and construction methods commonly used at the time of the loss will be used.
What does ‘sum insured’ mean?
Your home's sum insured is the total amount you would receive if your home is damaged beyond repair. This is not the same as its market value. Sum insured is the amount you have decided to have your home covered for.
Here is a link to the recently updated Cordell Sum Sure Calculator, and further information about Sum Insured and what it means for homeowners: https://nzi.co.nz/en/what-we-cover/personal-cover/home-insurance/home-sum-insured.html
This calculator will provide information to guide you on an appropriate rebuild cost - bear in mind that it is an estimate and inflation needs to be considered too. The calculator provides general information only and is not an expert recommendation. If a professional recommendation is preferred, you’ll need to contact a registered valuer or quantity surveyor to confirm your rebuild cost.
Please note that the Cordell Sum Sure calculator is an independent and confidential tool, and IAG has no access to the information provided or the estimate that is given.
Seeking a professional recommendation
QV and Construction Cost Consultants (CCC) can provide residential valuations at competitive prices for IAG customers. To access the special IAG rate, you’ll need to book a valuation by:
1. QV - go to http://qvgroup.qv.co.nz/insurance-valuation or phone 0800 164 444
You will need to mention your insurance company in the comments box of the online booking form or to the agent on the phone.
2. CCC - go to https://www.costconsultants.co.nz/iag or phone 0800 422 258
The online booking form is unique to IAG customers and will automatically apply the special IAG customer rate.
View Home Insurance policy
Retaining walls and recreational features
In your policy retaining walls and recreational features (permanently fixed swimming pools and permanently fixed spa pools and tennis courts) have limited cover.
This is called a policy limit or cover limit.
Methamphetamine contamination cover
Our Home Insurance now provides cover for contamination from both the manufacture and consumption of methamphetamine.
Cover is dependant on landlords ensuring that tenants are vetted and properties managed correctly to reduce the risk of meth contamination. See policy wording for full description of requirements.
General Insurances and Financial Strength Rating
NZI, a business division of IAG New Zealand Limited, has an Insurer Financial Strength Rating of 'AA-' (Very Strong) by Standard and Poors (Australia) Pty Limited, an approved rating agency.
The rating scale is:
- 'AAA' Extremely Strong 'AA' Very Strong 'A' Strong
- 'BBB' Good 'BB' Marginal 'B' Weak
- 'CCC' Very Weak 'CC' Extremely Weak 'SD' Selective Default
- 'DDD' Default 'R' Regulatory Action 'NR' Not Rated