Get a choice of cover levels, a range of optional extras plus a no-claims discount up to 65% with ASB car insurance.
ASB Bank offers a full range of car insurance options including comprehensive cover and third party cover. You have many opportunities to save, including a solid no-claims bonus and a multi-product discount that is increased if you are over 55.
Customer service is handled by ASB, one of New Zealand’s biggest banks, while your policy is underwritten by IAG, a multinational Australian insurance company. Keep reading to find out more about car insurance from ASB.
What cover options does ASB car insurance offer?
Choosing a level of cover involves balancing your budget and the risk of loss if your car is stolen or if you are in an accident. Comprehensive insurance offers the best protection and you should weigh up the extra monthly premium against the possible consequences of not obtaining adequate cover.
ASB’s comprehensive car insurance product is called Full Cover and will protect you against the loss of your vehicle and against accidental damage.
The benefits include the following:
- Reimbursement for any damage to your vehicle or loss of your vehicle after an accident
- Cost to replace a vehicle that has been stolen
- Cost to repair damage caused by fire
- Legal liability of up to $20 million for damage to or loss of another person’s vehicle, including accidental injury to a person
- Recovery of your vehicle if you cannot drive it after an event covered by the policy
- Up to $10,000 for accidental death or disablement
- Cover of up to $1,000 for a trailer
- Cover of up to $1,000 in legal defence costs if you are charged with manslaughter or dangerous driving
- Costs to get you and your family home
- Up to $500 in accommodation costs if your vehicle was damaged or stolen and you are more than 100 kilometres from your home
- A key replacement benefit
Protect yourself against the risk of theft and fire damage plus any third-party claims for damage.
Under this cover level, you benefit from the following:
- Reimbursement if your vehicle is stolen
- Cover for costs to repair or replace your vehicle in case of fire damage
- Up to $20 million in cover for legal liability if, while driving your vehicle, you accidentally damage another person’s property or cause physical harm
- Up to $1,000 in legal defence costs if you are charged with dangerous or careless driving
- Up to $3,000 in costs if your vehicle is damaged due to the fault of an uninsured driver
It is risky to drive without insurance since you will need to pay compensation if you cause an accident. If you are on a strict budget, you should consider third party insurance at a minimum.
This policy covers you for the following:
- A maximum of $20 million in legal liability if you cause an accident which results in property damage or personal injury
- Up to $1,000 towards your legal defence if you are charged with dangerous driving or manslaughter
- Up to $3,000 towards repairing your vehicle if you are in an accident that is the fault of another driver
What is excluded by ASB?
Every insurer will refuse to pay claims under certain conditions. ASB’s exclusions include the following:
- Accidents occurring while an unlicensed driver was driving your car, unless you were teaching a learner’s licence holder
- Accidents where the driver’s blood alcohol level exceeds the legal limit
- Accidents while you are using your vehicle to carry fare-paying passengers
- Events where you were using the vehicle to carry goods or samples connected with a trade or business other than farming
- Use of your vehicle for testing or racing purposes
- Any claims resulting from an intentionally reckless act
- Tyre damage that is caused by a puncture, a cut or a burst
- The contents of trailers
- Vehicles which were modified outside manufacturer specifications and not approved by ASB
- Mechanical or electrical breakdown
How much excess will I pay?
When you make an insurance claim with ASB car insurance, you may be required to pay an excess. In other words, the first portion of the costs will be carried by you. The excess you pay will depend on your individual policy. The following are some exceptions where you won’t have to pay an excess:
- ASB may choose to waive your excess payment when you are in an accident that is clearly not your fault, provided you supply ASB with the full details of the party at fault
- All claims related to trailers carry a standard excess of $100
- Policies that include windscreen cover
How to save on your ASB car insurance policy
- Drive carefully. ASB offers a no-claims discount of up to 65%, and your no-claims bonus will usually be protected if an accident is not your fault.
- Purchase multiple ASB policies. You may qualify for a package discount if you purchase multiple policies with ASB, such as policies for your home or pleasure craft.
- Install security. Installing a security system in your car, if it does not already have one, can lower your premiums.
- Exclude under 25s. ASB will reduce your premium if you exclude under 25s from cover. This does not apply to your partner.
- Pay annually. Your total premium payments will be less if you pay annually in advance, instead of monthly or fortnightly.
How do I make a claim?
You need to phone the toll-free ASB number if you want to make a claim. The insurer will require that you provide certain details about the incident. These can be difficult to collect in the moments after an accident, but be prepared to supply the following:
- A thorough description of the incident
- Your details including policy number
- Name and contact details of any other parties involved
- Photographic evidence of damage and, if applicable, the accident scene
- A police report number, if applicable
Other benefits of getting insurance with ASB
ASB offers the following unique benefits:
- High no-claims bonus. If you meet ASB’s terms and conditions, you stand to get a no-claims bonus of up to 65%.
- Older drivers save more. ASB offers special package discount rates for people over 55 who also purchase other insurance products from the insurer.
- Optional roadside rescue. You can add this optional cover to any ASB car insurance policy. Benefits include roadside help for flat tires, running out of fuel or a flat battery.
If you like keeping all your financial affairs under one roof, you should consider taking out an insurance policy with ASB Bank since ASB Bank is a full-service personal banking provider.
However, you should always check the cover on offer from ASB, as well as the premium you are quoted, as other insurers in New Zealand may offer a better deal. Nonetheless, ASB offers a comprehensive car insurance product that will protect you against the common risks of car ownership.