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House basics

Check out house insurance in 60 seconds to get an understanding of house insurance.

What type of cover does Trade Me Insurance offer?

The type of cover you have will be determined by your answers in the quote and will fall into one of the following categories:

  • Repair or replacement up to your chosen sum insured limit
  • Present day value

Repair or replace is where we will restore your house to the same condition (not more or less) that it was in before the loss, limited to a maximum of the sum insured. 

Present day value (PDV) is the lesser of the market value of your house at claim time (minus the value of the land) or the sum insured.

 

How do I calculate my sum insured?

The insurance industry is now based on the premise of sum insured for your house. The sum insured is the most we will pay for a claim under your house insurance policy and it's important that you select the right amount.

Go to Sum insured explained and How to check your sum insured for more information. 

 

What benefits are available?

Trade Me Insurance has standard benefits and optional benefits. Standard benefits are included in your policy and optional benefits can be purchased and added onto your policy at any time. Full benefit information can be found in the policy wording or on the policy benefits page.

 

Why do I have to pay government levies?

Insurance companies are required by law to collect levies on behalf of the Earthquake Commission and Fire Service.

Levy amounts are detailed on the certificate of insurance that can be found in My Insurance.

 

What are your obligations?

It is your responsibility to be aware and understand your obligations are to ensure you are covered at your time of need. 
 
To see what your obligations are, read our What are my obligations? and All about honesty- disclosure and declarations articles or check out the policy wording.

 

This is a summary only. See if this policy is right for you by viewing our policy wording which includes our benefits, terms and conditions.

 

Still unsure? Fire up a live chat or contact us, we are here to help.

 

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