House Insurance Comparison NZ: AA, AMI Premier, AMP, State Comprehensive, Tower
House Insurance is a must have in New Zealand
If you are a house owner and thinking about your existing House Insurance wondering what would be better for you then this article is for you. In this article I compare AA, AMI Premier, AMP, State Comprehensive, Tower House Insurance policies.
Would you agree, we all want the best and often happy to pay for the premium product? As you might have notice it is not the case when people think House Insurance. Often when people compare House Insurance they have one intention – how to get the lowest premiums.
House Insurance Comparison NZ
In this article, I only compare policy wordings and benefits provided by the insurers. As the house owner you want to know when and how the policy you have in place is going to cover you.
The article is written with the intention that once you have familiarise yourself with
The limits of the compared House Insurance policies you are going to ask for a quote
Each House Insurance policy provides a built-in liability cover. This means if you for instance was found liable for burning down your neighbour’ house as the subsequent damage to your house fire you are going to be covered up to certain amount of dollars. In this House Insurance comparison NZ only AMP will cover you for $2,000,000 when AA, AMI Premier, State Comprehensive & Tower will only provide you with cover for up to $1,000,000. Important to know right?
Gradual damage cover, would you want to know what that is? Picture a water pipe in the wall or a leaking hot water cylinder and the damage it can potentially cause over a period of time. AMI Premier offers the lowest amount of cover – only $1,500 everything what comes above the limit is going to be paid by the house owner. Followed by AA with $2,000 and State Comprehensive with $2,500 then AMP offers $3,000 and the best offer comes from Tower with $5,000.
Landscaping and retaining walls – how much is covered by your House Insurance policy?
Retaining walls. Do you have retaining walls in your property? Have you ever thought how would you be compensated if there is flooding or a house fire and the retaining walls you have in your property got destroyed? AMP offers the highest amount of cover providing the house owner with $80,000 limit to compare to AA with the lowest level being only $10,000. AMI Premier & State Comprehensive provide $20,000 to compare with Tower $25,000
Road repair cost or driveway damages or even cover for your own private driveway? Would you agree if your house is damaged that there is a high chance that the driveway is damaged as well? Interestingly enough only AMP House Insurance is going to provide you with limit of $50,000 of cover to compare to AA, AMI Premier, State Comprehensive who do not specify any limit in the policy wording and include the driveway in the amount insured.
Landscaping – not all House Insurance policies have been created equal. AMP offers the highest amount of cover limit $5,000 followed by State Comprehensive & Tower with $2,500. AMI Premier does not provide any cover and AA does not mention in the policy.
Alternative accommodation. When would you possibly use it? In my experience, it was water damage to the house and the family had to spent a few months in a hotel followed by rental house. AMP offers the highest level of cover $30,000 followed by Tower with $25,000 and State Comprehensive, AMI & AA provide only $20,000.
Key replacement. AA offers full replacement. AMP limits the cover by $2,000, AMI Premier & Tower offer only $1,000 and State Comprehensive $500.
Stress payment. This is definitely something you do not want to get as the house owner. This benefit is paid out in the event you lost your house. AMI Premier & AA do not offer any benefit. Followed by State Comprehensive & Tower with $1,000 and AMP with $5,000
Landlord furnishing? Would you want to know what is covered and what does it mean? Think about all fixed furniture and fittings provided by the landlord. Think a stove or a dishwasher and so on. AA – no cover, AMI Premier optional benefit with additional premiums, State Comprehensive additional cover with additional premiums, Tower offers $10,000 and the leader is AMP providing the cover for $20,000
Loss of rent. This is only applicable when you have tenants living in the house and you have landlord extension. AMI Premier this needs to be additional policy. AA, State Comprehensive, Tower, all offer $20,000 limit on the policy and only AMP provides $40,000
If you want to get a quote for your house please complete the form below.
| State | Tower | AMP | AMI – Premier | AA |
| Liability level | ||||
| $1,000,000 | $1,000,000 | $2,000,000 | $1,000,000 | $1,000,000 |
| Gradual damage | ||||
| $2,500 | $5,000 | $3,000 | $1,500 | $2,000 |
| Retaining walls | ||||
| $20,000 | $25,000 | $80,000 | $20,000 | $10,000 |
| Road repair cost (bridge or driveway) | ||||
| ??? | ??? | $50,000 | ??? | ??? |
| Landscaping | ||||
| $2,500 | $2,500 | $5,000 | No Cover | No Cover |
| Alternative accommodation | ||||
| $20,000 | $25,000 | $30,000 | $20,000 | $20,000 |
| Keys | ||||
| $500 | $1,000 | $2,000 | $1,000 | Full Replacement |
| Landlord furnishings | ||||
| Add-on $ | $10,000 | $20,000 | Separate cover optional benefit |
No Cover |
| Loss of rent | ||||
| $20,000 | $20,000 | $40,000 | Separate cover | $20,000 |
| Tenants excess | ||||
| Add-on $ | $400 | $250 | Not mentioned | Not mentioned |
| Stress payment | ||||
| $1,000 | $1,000 | $5,000 | No Cover | No Cover |
Photo by Scott Costello (CC BY 2.0)
Read more about House Insurance
11 New Zealand Car Loan Finance companies
Information shared in this post can potentially save you a few thousands of dollars. 11 New Zealand Car Loan Finance companies comparison is collected for you. It can also help your friends if you share this post. 11 New Zealand Car Loan Finance companies Report is designed for someone (like you) who is thinking about Read more →
3 Construction Insurance NZ mistakes you wish to know
There are three mistakes many people make without realising it when it comes to Construction Insurance NZ. This article is prepared on the base of existing life examples and aims to provide you with as much information as possible so that you will be able to make a calculative decision about what you need and Read more →
Chimney removal 4 tips you wish you knew before start
The chance that you are reading this article and the fact that you have a chimney is very high to be called a perfect strike. Let me confess here, I love my job and my job here is to explain how a correct insurance structure can help you to avoid all possible problems with your Read more →
3 most important points as landlord to know about Methamphetamine
Well, it does not work like that does it? Last week (December 2015) it was an article in NZ Herald about a new research of (get ready) waste water in Auckland. The team of researchers are going to spend $200,000 of government money to monitor trace of illegal drug use. The point of the study Read more →
House Insurance Comparison NZ: AA, AMI Premier, AMP, State Comprehensive, Tower
House Insurance is a must have in New Zealand If you are a house owner and thinking about your existing House Insurance wondering what would be better for you then this article is for you. In this article I compare AA, AMI Premier, AMP, State Comprehensive, Tower House Insurance policies. Would you agree, we all Read more →