Help for home-buyers in insurance exclusion zone

Help for home-buyers in insurance exclusion zone – AA Insurance

Auckland, July 23 – As a result of the recent earthquake activity, AA Insurance has an exclusion zone in place for new home & contents policies throughout Marlborough and the Greater Wellington districts.

“Until further notice, if you are buying a home that is currently insured with AA Insurance, we will insure you, provided the house is undamaged as a result of the earthquakes, and provided our standard underwriting criteria are met,” explained Suzanne Wolton, Head of Customer Affairs, AA Insurance. “To ensure you have insurance in place, it is essential that you contact us before making a financial commitment to a new home.

“We don’t want the property market to grind to a halt and we hope this will be a relief for some homebuyers in the affected area.”

If the home is damaged AA Insurance may not be able to provide cover or further terms and conditions may apply, so it is essential you contact AA Insurance before making a financial commitment to a new home.

“We would also need to discuss the assignment of any claims for earthquake damage with you, the current owner and EQC, so that everyone is aware of what payments have already been made, and what policy benefits can and can’t be assigned to the new owner,” added Suzanne.

AA Insurance expects the hold on new policies to be in effect until the seismic activity settles down.

It is business-as-usual for car policies.

About AA Insurance
AA Insurance was launched in 1994 and is a joint venture between New Zealand Automobile Association and Suncorp.

AA Insurance employs around 580 staff servicing more than 300,000 customers and manages over 500,000 policies covering motor, home and contents insurance.

AA Insurance was named as New Zealand’s best workplace at the 2011 JRA Best Workplaces Survey, winning the overall award and the large company category. From 2008 to 2012 AA Insurance has consistently been a finalist.

AA Insurance was named winner of the 2013 Canstar Blue Most Satisfied Customers for Home and Contents Insurance, and the 2012 New Zealand Insurance Industry Awards for Direct Insurance Company of the Year. It was also voted Most Trusted Insurer by New Zealanders in the Insurance Providers category of the 2012 Reader’s Digest Most Trusted Brands survey, conducted by Catalyst Research.

AA Insurance Limited has an A+ (Strong) Insurer Financial Strength Rating given by Standard and Poor’s (Australia) Pty Ltd. For further information visit www.aainsurance.co.nz.
AA Insurance is proud to support youth charity Blue Light as its principle corporate sponsor.

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