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Westpac House and Contents Insurance Review

Looking for comprehensive house and/or contents insurance? Westpac provides full cover for homeowners, landlords and renters.

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Westpac is a trusted financial services provider and has been looking after the financial well being of Kiwis for over 150 years. If you’re an existing customer or thinking of switching your mortgage or bank accounts over, you may want to consider having your house and contents insurance policies with Westpac as well. It’s easier to have all your loans, investments and insurance in one place so you can streamline your finances and have fewer providers to deal with.

One of the benefits of taking out a Westpac house or contents policy is the 30-day cooling-off period, so if you change your mind you’re not locked in. They’ll also refund any premiums you’ve paid during this period. Westpac insurance policies are underwritten by IAG New Zealand Limited (IAG), which has an A+ Insurer Financial Strength rating.

Westpac cover options

Westpac offers comprehensive house insurance and full cover contents insurance. There are optional extras if you’re a landlord, or you can take advantage of a cheaper premium for contents if you’re a renter.

House insurance

Westpac provides comprehensive house insurance to cover your home in a variety of situations.

What it covers:

  • Sudden and accidental loss to your home
  • Gradual damage protection
  • Landscaping
  • Methamphetamine contamination
  • Security after a break in
  • Lost or stolen keys
  • Natural disaster damage
  • Fatal injury
  • Legal liability for accidental loss or bodily injury to someone else
  • Temporary accommodation
  • Cover for your Westpac home loan
Additional options for landlords

For an additional premium, landlords can add on the following optional benefits to make sure rental properties are fully covered.

What’s covered:

  • Extended cover for chattels
  • Deliberate damage protection
  • Rent protection

Contents insurance

Westpac’s full cover contents insurance protects your belongings from accidental damage, loss or theft, as well as providing a range of other benefits.

What’s covered:

  • Sudden and accidental loss to your contents
  • Old for new replacement
  • Cover for expensive items
  • Business equipment
  • Relocation of items to a new home
  • $500 payment to credit card for certain situations
  • Gradual damage
  • No excess for lost or stolen keys or remote door openers
  • Natural disaster damage
  • Overseas travel to certain countries
  • Waiver of excess if burgled
  • Wedding or Christmas gifts
  • Young person’s benefit
  • Fatal injury
  • Personal liability for accidental damage
  • Stress benefit
  • Temporary accommodation

Renters’ contents insurance

If you’re renting then you may not need full cover contents insurance. Westpac has tailored a renters insurance policy for this scenario providing cover for up to $25,000, including accident liability anywhere in New Zealand.

What’s included:

  • Sudden and accidental loss to your contents
  • Old for new replacement for items less than five year’s old
  • Moving to a new rental property
  • Natural disaster damage
  • Liability for accidental damage or injury
  • Temporary accommodation

What does Westpac not cover?

Every single situation that you may want to make a claim for will not be covered by your Westpac insurance policy. General exclusions mean your claim will not be paid for:

  • Wear and tear
  • Mildew, rot, corrosion, rust, or gradual deterioration
  • Mechanical, electrical or electronic break-down
  • Insects or vermin other than possums
  • Any process of cleaning, repairing or restoring
  • Damage caused by light
  • Structural additions or structural alterations
  • Any fault, defect, error or omission from design, plan or workmanship
  • Any loss which arises from theft or deliberate damage (other than fire or explosion) by any person lawfully at the home
  • Land movement of any kind, such as erosion or subsidence
  • Loss or contamination from any controlled drug
  • Theft or deliberate damage (other than fire or explosion) by any person lawfully at the home
  • Items permanently removed from your home

Make sure to carefully read the policy wording to understand what is and isn’t covered before you commit.

How can I save on Westpac house and contents insurance?

  • Pick a higher excess. By opting for a higher excess, you can save money on your premiums. However, do keep in mind that, should you need to make a claim, you’ll be required to pay this higher amount or have it deducted from your settlement.
  • Multi policy discount. If you take out Westpac house insurance then you’ll get a discount of up to 10% discount on your contents insurance.
  • Get an alarm installed. By installing an approved alarm you could get a discount of up to 4%.
  • Over 50s discount. If you’re 50 years or over, Westpac can offer you a discount on your insurance policy.

How do I make a Westpac house or contents insurance claim?

To make a claim you can call Westpac 24 hours a day on 0800 309 378. You should notify the police immediately if there has been a burglary, theft, or malicious damage. If your home needs immediate attention, you keep a record of repairs and any receipts for costs incurred.

Frequently asked questions

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