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ANZ Base Protect
ANZ Base Protect
In 2021 we stopped offering the ANZ Base Protect policy to new customers and, moving forward, this policy will no longer be available to existing customers.
If you are an existing ANZ Base Protect customer, to ensure you still have cover while considering your options, we’ll transfer your insurance cover to ANZ Asset Protector at your first renewal after 1 January 2023.
We have detailed the differences between ANZ Base Protect and ANZ Asset Protector below.
The following FAQs are a summary only. Please refer to your policy wording for full details of cover.
Why has my Contents premium increased?
Given the ANZ Asset Protector Contents policy offers broader cover, your premium will have increased from your last renewal.
We have also undertaken our regular premium review across all insurance products, which could also impact your premium.
Why has my Motor Vehicle premium increased?
The premium for ANZ Asset Protector Motor Vehicle is the same as ANZ Base Protect Motor Vehicle. However, we have recently undertaken a regular premium review across all insurance products which means your premium may have increased.
I don’t want to remain on ANZ Asset Protector, what are my options?
If you decide ANZ Asset Protector doesn’t suit your needs, you can cancel within 30 days from your renewal and we’ll refund any premium you have paid following your renewal (provided you haven’t made a claim).
Simply contact our team on 0800 831 123 or anzinsurance@vero.co.nz and we’ll arrange the refund for you.
It is not possible to remain on ANZ Base Protect following your renewal.
The item limits are higher under ANZ Asset Protector Contents, what happens to the items I already have specified?
The limits we'll pay for some items are higher under ANZ Asset Protector Contents.
For example, if you have a $2,500 ring it no longer needs to be specified as the limit under ANZ Asset Protector for any one item of jewellery is $3,000.
We’ll be reviewing policies and will make contact with customers who have specified items prior to renewal. However, if you have questions relating to your specified items, please contact us on 0800 831 123 or anzinsurance@vero.co.nz.
Please refer to the ANZ Asset Protector policy wording vero.co.nz/anzpolicywording for full details.
Below is a summarised comparison between the cover provided under ANZ Base Protect Contents and ANZ Asset Protector Contents.
The ANZ Asset Protector Contents policy provides broader cover than the ANZ Base Protect Contents policy, which means your premium will increase. Under the ANZ Asset Protector Contents policy, if you rent your home to anyone who is not entitled to cover under your policy, we’ll only pay indemnity value on any contents.
For full terms and conditions please refer to your ANZ Asset Protector policy wording which can be found at vero.co.nz/anzpolicywording.
Summary of cover
Your previous cover under ANZ Base Protect Contents
Your new cover under ANZ Asset Protector Contents
Accidental loss or damage to contents anywhere in NZ
Covered, however the most we will pay for contents away from the location on your schedule is $5,000 for the entire claim, plus the value of any item accidentally lost or damaged that is specified on your schedule.
Covered, anywhere in NZ
How we will settle your claim
Your previous cover under ANZ Base Protect Contents
Your new cover under ANZ Asset Protector Contents
How we will settle your contents insurance claim
We’ll pay indemnity value for your contents.
This is either of the following:
- the value of the contents immediately before the damage
- the cost to restore the contents to a condition no better than when new — less an amount for depreciation, wear and tear.
We’ll pay replacement value for most items.
We’ll pay to replace, repair, or reinstate all contents, without subtracting anything for wear and tear or depreciation. However, we pay indemnity value for the items listed below.
We’ll pay indemnity value for:
- clothes and footwear
- books
- cosmetics and toiletries
- video tapes, audio tapes, records, CDs, DVDs, and game discs
- mobile phones, portable computers (laptops, notebooks or tablets), portable DVD players, portable music players, game consoles (including speakers and docking stations), and similar portable electronic devices, that are over 5 years old
- business tools
- drones over 3 years old
- sports equipment (other than bicycles) including fishing, hunting, water sports, snow sports, and camping equipment that is more than 2 years old.
If you rent your home to anyone who is not entitled to cover under your policy, we’ll only pay indemnity value on any contents.
Limits - The most we'll pay for some items
Your previous cover under ANZ Base Protect Contents
Your new cover under ANZ Asset Protector Contents
Each mobile phone, portable computer (laptop, notebook, tablet), portable DVD player, portable music player and game console (including speakers and docking stations) and other similar portable electronic devices
$5,000
No sub limit
Each item of jewellery or watch
$2,000 (maximum $10,000 for any one event)
$3,000
For any one event, we’ll pay up to 15% of the contents sum insured shown on your schedule, or $15,000 — whichever is greater.
Each item of photographic or video camera equipment.
We count a camera body and a standard lens as one item. Any extra lens not permanently attached to a camera body, or one that is designed to be interchangeable, we count as its own item
$2,000
$3,000
Any drone
$2,000
$3,000
Any coin or stamp collection
$2,000 in total
$3,000 in total
Any bicycle (including any e-bike)
$2,000
$3,000
Any canoe, kayak, surfboard, surf ski, kite surfer, paddle board, windsurfer or similar watercraft
$2,000
$3,000
Any boat (except those listed above)
$1,500
$3,000
We won’t cover any boat that has a market value of more than $3,000
Unset precious stones, bullion, gold or silver (other than goldware or silverware) or precious metals
$1,000 in total
$1,000 in total
Remote controlled models
$1,000
No sub limit
Motor parts and accessories while detached from any vehicle
$500 in total
$2,000 in total for motor and marine parts and accessories (including child car seats) while detached from any vehicle or boat
Marine parts and accessories while detached from any boat
$500 in total
$2,000 in total for motor and marine parts and accessories (including child car seats) while detached from any vehicle or boat
Money, negotiable securities, travel tickets
$500 in total
$1,000 in total for all money, negotiable securities, bonus bonds, travellers’ cheques or travel tickets, certificates, or documents
Certificates or documents
$500 in total
$1,000 in total for all money, negotiable securities, bonus bonds, travellers’ cheques or travel tickets, certificates, or documents
Summary of benefits
Your previous cover under ANZ Base Protect Contents
Your new cover under ANZ Asset Protector Contents
Temporary accommodation — we’ll pay for temporary accommodation if your home is uninhabitable
If you own and live in the home
We’ll pay up to 6 months or $12,500, whichever is less
If you are renting the home
We’ll pay up to 1 month
If you own and live in the home
We’ll pay up to 12 months or $30,000, whichever is less
If you are renting the home
We’ll pay up to 1 month
Damage caused by authorities — we’ll cover damage caused to prevent other loss
Covered
Covered
Fatal injury — we’ll make an additional payment for fatal injury from fire and burglary
$5,000
$5,000
Food spoilage
$1,000 to replace spoiled food if the freezer or fridge is accidently damaged, breaks down or power supply is turned off or door accidently left open
Covered, as long as the loss falls within the policy coverage (there is no specific benefit for this)
Sum insured adjustment on renewal — we may automatically adjust your contents insurance sum insured at renewal
Covered
Covered (under Policy conditions, page 89)
Removal of debris
Covered
Covered (under Costs we'll pay that are associated with your claim, page 40)
Occupiers and personal liability — we’ll cover your legal liability if you cause loss, damage, or injury
For any one event, we’ll pay:
- Up to $2,000,000 for loss or damage to someone else's property
- Up to $1,000,000 for bodily injury
For any one event, we’ll pay:
- Up to $2,000,000 for loss or damage to someone else's property
- Up to $1,000,000 for bodily injury
Storage of contents — we’ll cover some contents in short-term storage
Not covered
If you store your contents at another location, we’ll cover them at that location for up to 90 days.
We’ll pay the indemnity value up to $20,000 within the 90-day period, subject to the maximum item limits in the policy.
If contents are not stored in a secured unit, at a commercial storage facility and under a contract in your name, we won’t cover:
- loss or damage arising from theft (unless there is forcible or violent entry to the building or room where the contents are kept),
- unexplained loss or damage
- water damage
Moving house — we’ll cover you at your old and new addresses when you move
Not covered
When you move from your home to a new address, we’ll cover your contents at both your old and new address for up to 30 days. You must tell us about the new address within the 30 days.
While your contents are being moved between your old and new home, we’ll pay up to $10,000 for any one event for accidental loss or damage arising from fire or theft from a locked vehicle. We’ll also cover your contents if the vehicle being used to move them overturns or is in a collision
ANZ credit card payment —we’ll give you an additional payment if you have a total loss
Not covered
If we pay a total loss on your policy, we’ll pay an extra $500 to an existing ANZ credit card you hold at the time of the loss
Boarding school — we’ll cover contents of your children at boarding school who normally live with you
Not covered
We’ll cover your children’s contents if your children are temporarily living away from home at a boarding school
Business tools — we’ll pay the indemnity value for business tools
Not covered
We’ll pay the indemnity value, up to $2,000, for loss or damage to items or sets of items that you use to obtain financial return, excluding products or stock.
The loss or damage must be the result of one of the following:
- fire
- lightning
- explosion
- theft from a secure building or locked vehicle that involved forcible and violent entry or actual or threatened physical violence to you
Credit and debit cards — we’ll reimburse unauthorised use
Not covered
If someone uses your lost or stolen credit or debit card, we’ll reimburse you up to $1,000 for your financial loss. You must tell the police and your card issuer within 24 hours of discovering the financial loss
Fusion of electric motors — we’ll cover fusion or burnout
Not covered
We’ll cover any electric motor if it burns out or fuses. If the electric motor is up to 10 years old, we’ll:
- choose whether to repair or replace it
- also pay to replace an exchange sealed compressor for motors in a sealed refrigeration or air conditioning compression unit and to re-gas the unit.
If the electric motor is more than 10 years old, we’ll pay the indemnity value
Gifts — we’ll cover special occasion gifts
Not covered
We’ll cover wedding, Christmas, or other special occasion gifts that are temporarily in your home
Gradual damage — we’ll cover gradual damage caused by leaking water pipes
Not covered
We’ll pay up to $3,000 for gradual physical damage to your contents resulting from water leaking or overflowing from any internal water system. The damage must have first started after you moved into your home.
An internal water system is:
- any water pipe, waste disposal pipe, water cylinder or water storage tank which is permanently connected and contained within the walls, floors or roof of your home
- any pipe hidden from view that is connected to an appliance like a washing machine or dishwasher.
Home office or healthcare practice — we’ll cover your equipment
Not covered
We’ll pay up to $10,000 for loss or damage to home office or healthcare equipment that you own and that is located at your home.
Misuse of mobile/cellular phones — we’ll reimburse unauthorised use
Not covered
If your mobile phone is lost or stolen, we’ll pay up to $500 for any unauthorised use your network service provider bills you for. You must tell your network service provider as soon as you discover the loss or theft of your phone — we’ll only pay for the first 24 hours of unauthorised use
Stolen or lost keys — we’ll pay to replace stolen or lost keys and re-set keypads
Not covered
We’ll pay up to $2,000 each time to alter or replace locks and keys, change the keypad’s entry code, or open your home safe if any of the following happen.
- A key to your home is duplicated without your agreement, stolen, or lost
- A keypad code is shared without your agreement
- The key or combination to your home safe is lost or stolen
Tenant's improvements — we’ll cover improvements you make to the home you rent
Not covered
We’ll pay up to a total of $5,000 for items you own that are permanently installed and attached to the home you rent and live in
Tertiary accommodation — we’ll cover contents of your children in tertiary accommodation, if they normally live with you
Not covered
We’ll cover your children’s contents if they are temporarily living away from home in accommodation provided by a tertiary educational institution. The most we’ll pay is $5,000 for each child
Summary of Optional benefits — the additional cover you can choose
Please contact us if you would like to choose any of the following optional benefits
Your previous cover under ANZ Base Protect Contents
Your new cover under ANZ Asset Protector Contents
Excess refund — for the excess you’ve selected
Not an option
We’ll pay the cost of your claim in full without deducting your excess, if the cost of your claim is the same as, or more than, the excess you’ve selected, as shown on your schedule. We won’t pay any claim that is less than this amount
Moving house extension — we’ll cover more contents, for more causes of loss
You can extend the cover for contents while in transit.
We’ll apply an additional excess of $500 to any claim
You can extend the cover for contents in transit provided by the Moving house benefit.
We’ll apply an additional excess of $500 to any claim.
Storage of contents extension — we’ll cover more contents, for longer
You can extend the cover for storage of contents.
We’ll apply an additional excess of $500 to any claim
You can extend the cover provided by the Storage of contents benefit.
We’ll apply an additional excess of $500 to any claim
Business tools extension — we’ll increase the limit for business tools
Not an option
You can extend the amount provided by the Business tools benefit up to a maximum indemnity value of $10,000.
We’ll apply an additional excess of $500 to any claim
Contents special excesses
ANZ Asset Protector has the following special excesses that you need to be aware of.
These excesses apply to every Contents claim, except if the loss or damage is caused by fire, flood or natural disaster.
Sharing your home with tenants, flatmates or boarders
If you share your home with tenants, flatmates or boarders, an additional excess of $250 applies to every claim
Making your home available to anyone for casual use
If you make your home available to anyone for casual use, and receive a payment in return, an additional excess of $1,000 applies
The cover provided under ANZ Asset Protector Motor Vehicle is very similar to ANZ Base Protect Motor Vehicle. The main difference is that under your ANZ Asset Protector Motor Vehicle you’ll have the choice to add the ‘Excess-free windscreen and window glass’ optional benefit to your policy. The benefit is an additional $50 per year, per vehicle.
The ‘Excess-free windscreen and window glass’ benefit provides cover for repairing or replacing accidental damage to your vehicle’s windscreen or window glass. As long as you’re not claiming for any other loss or damage, or for legal liability, you won’t need to pay an excess to claim under this benefit.
If you’d like to add this optional benefit to your policy, please contact us on 0800 831 123 or anzinsurance@vero.co.nz.
For full terms and conditions please refer to your ANZ Asset Protector policy wording which can be found at vero.co.nz/anzpolicywording.
