If your house is damaged, we'll pay to have it repaired or rebuilt to a condition as similar as possible to when it was new.
If the damage is uneconomic to repair, you have other options available. These include rebuilding on another site you provide, buying another home, or taking a cash settlement. For these options, we’ll pay up to the amount we would have paid to rebuild on your current property, and some costs may not be payable unless they are actually incurred.
If the damage is uneconomic to repair and you sell your property before rebuilding begins, we'll pay up to the market value plus demolition and removal costs.
For full details download a copy of the Essence Home policy wording.
If your house is tenanted, this cover extends to include fixtures and fittings owned by you.
You also have protection against loss of rent for up to 12 months, to a maximum of $15,000 if the house is rendered uninhabitable because of damaged that's covered under this policy.
Essence cover extends to any new building work being undertaken around your home and any associated building materials. The maximum we'll pay is $10,000 per annual period.
Any part of your home that you use as a home office is also covered under this policy.
We’ll cover your legal liability if you accidentally damage someone else’s property or if you accidentally injure somebody, anywhere in New Zealand in relation to your home ownership. Provided you check with us first, we may also cover your legal fees.
Essence cover provides many more benefits. These include an alternative accommodation benefit if your home can’t be lived in because of damage that’s covered by this policy, a stress payment of up to $2000 if your home is totally destroyed.
The above information is intended as a guide only. Maximum limits and certain exclusions do apply.
Check your sum insured is up-to-date and truly reflects the cost to rebuild your home, as materials, labour and compliance costs change over time.
Find out more and use the calculator to help you estimate your home’s sum insured quickly and easily.
For full details download a copy of the Essence Home policy wording.
