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ASB house and contents insurance review

Need comprehensive cover for your home, contents or rental? ASB offers insurance policies with multiple ways to save on your premium.

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ASB offers a full range of affordable, quality house and contents insurance policies to meet the needs of its customers, with several optional add-ons to extend cover. If you’re an existing ASB customer, then having house and contents insurance with this provider helps to keep things simple. You’ll also receive a multi-policy discount if you take out any combination of house, contents or car insurance.

ASB prides itself on excellent customer service with in-person and online contact available. For claims, a dedicated claims manager is assigned to quickly resolve issues. ASB insurance policies are underwritten by IAG, which has been assigned an AA- (Very Strong) Insurer Financial Strength Rating.

ASB cover options

ASB provides comprehensive house insurance with optional add-ons for landlords and contract works, plus two levels of cover for contents insurance.

House Insurance

ASB Home Insurance: This policy protects your house from accidental damage or loss and also includes replacement costs for a total rebuild.

What it covers:

  • Repair, rebuild, or replacement costs of your home following accidental damage or loss up to your sum insured
  • Temporary alternative accommodation
  • Electronic programs
  • Demolition and removal of debris
  • Recreational features
  • Landscaping
  • Post-event inflation protection
  • Stress payment
  • Retaining walls
  • Hidden gradual damage
  • Gardens and lawns
  • Keys and locks

ASB Landlord’s Protection: This is an optional benefit landlords can add to their ASB Home Insurance policy. It gives peace of mind that your property and contents will be covered when renting to tenants.

What it covers:

  • Loss of rental income
  • Loss or damage to the landlord’s contents kept at the property for use by tenants
  • Intentional acts of damage by tenants or their guests
  • Methamphetamine contamination
  • Hidden gradual damage
  • Legal liability

Contract Works Insurance: This additional cover provides protection if you’re renovating or building a new house.

What it covers:

  • New builds or structural alterations to your current house
  • Building materials, equipment, tools being transported to your building site
  • Loss and accidental damage while building work is being done

Contents insurance

Basic cover: If you only need limited contents cover, then this policy may be suitable for you. It provides cover on contents valued between $10,000 and $30,000, with a mix of market value and replacement value.

What it covers:

  • Most items under five years old, including furniture, furnishings, home appliances, sound equipment and TVs
  • Replacement value for computers under three years old
  • Legal liability cover for causing accidental loss or damage to someone else’s property or injury to someone else in New Zealand

Classic cover: This policy provides comprehensive cover so you’ll receive brand new replacement items no matter how old they are.

What it covers:

  • Belongings while they’re at home or temporarily anywhere else in New Zealand
  • Children’s possessions while they are living in tertiary education accommodation, such as a hall of residence
  • Hidden gradual damage to items, such as rot caused by a leaking water pipe
  • Temporary accommodation if your house becomes uninhabitable due to loss or damage
  • Lost, damaged or stolen keys or adjustment of locks
  • Legal liability

Valuable items, such as watches, jewellery or paintings need to be specified in your policy and may require valuation before they can be added. Keep receipts or valuations as you’ll need to provide these when making a claim.

Contents insurance extensions

ASB contents insurance doesn’t cover goods in transit or storage but you can apply for one or both of these optional extras:

  • Goods in Transit Insurance. Protects your contents while they’re being moved from one house to another.
  • Goods in Storage Insurance. Covers contents temporarily stored at a secure facility from accidental loss or damage.

What does ASB not cover?

ASB notes a number of circumstances where they won’t provide cover, for example:

  • Structural additions or alterations
  • Water damage from roof or cladding removal
  • Workmanship error
  • Design defects
  • Insects, rodents and vermin
  • Pets
  • Wear and tear
  • Breakdown of mechanical or electrical equipment
  • Rot or mildew
  • Intentional damage
  • Theft of or deliberate damage to your belongings by anyone living in your home

There are some exceptions depending on the type of cover you opt for, so be sure to read the policy wording carefully.

How can I save on ASB house and contents insurance?

ASB offers the following ways to save money on insurance premiums:

  • Take out two or more policies and receive a multi-policy discount
  • An annual no claims bonus of up to 40%
  • A discount if you are aged 55 or over
  • A discount for a professionally installed burglar alarm
  • Paying premiums annually in one lump sum
  • A range of voluntary excess options

How do I make an ASB house or contents insurance claim?

To make a claim you can call 0800 200 242 or email on asbclaims@iag.co.nz and you will be notified within 2 business days. To speed up the process ASB recommends having the following information and documents on hand:

  • Your policy number
  • A brief written description of what happened and the damage, including photos
  • Proof of ownership such as receipts or valuations
  • A police report if you have one

Frequently asked questions

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