Spring 2019 Issue
Welcome to our Spring Issue of the Insurance Specialists Update
We trust you’re enjoying the warmer weather. This issue features helpful Insurance information, so please make sure you read it.
Repairing or replacing a damaged windscreen - Domestic vehicles only
Has your windscreen been damaged? Your AMP Vehicle Policy will cover repairs to your windscreen – and we’ll waive your excess. If your windscreen needs to be replaced, you’ll need to pay your policy excess. We’ll guarantee the work of our approved repairers. If you choose to use your own repairer, that’s ok. But please be aware, we won't pay more than our approved repairers would charge us. The good news is, your no claims discount won’t be affected by any claim under this benefit.
Meet Louise!
It’s been a while since our last update, and we have an announcement to make... It is with great pleasure we introduce our newest member of the Insurance Specialists team. Louise joined us back in January as Adviser Support. She has many years of Finance and Administration experience and is looking forward to adding Insurance to her skill set. She is married with 2 teenagers, enjoys Pilates, walking, gardening and keeping fit.
Don’t settle for less. Get extra home insurance cover at no extra cost with Sum Extra.
Great news! We’ve added an additional benefit to our AMP Home Plan Maxi Policy. It’s called SumExtra and it gives you peace of mind knowing that you shouldn’t have to settle for less if your home is damaged or destroyed.
What does SumExtra give you?
Full repair or replacement
If the loss to your home is caused by a fire or other non-natural disaster event, with SumExtra benefit you’re covered for the full cost of repair or replacement of your home, even if the cost exceeds your Sum Insured.
OR
Up to 10% extra for natural disasters
If your home is damaged or destroyed in a natural disaster or fire caused by natural disaster and your Sum Insured isn’t enough to pay for the repair or rebuild, with SumExtra you’ll receive up to 10% extra cover.
So what do you need to do to get SumExtra?
To qualify for SumExtra, you need to make sure that the amount your home is insured for (also known as Sum Insured) is at least the value of your home’s rebuild cost estimate. A written rebuild cost estimate needs to be obtained from either:
the independent, free online Cordell Calculator located here; or
a suitably qualified professional as set out in the endorsement below, such as a registered quantity surveyor or registered valuer whom you pay.
You’ll need to also make sure your rebuild cost estimate is less than three years old at the time your Sum Insured was most recently agreed. Then you’ll automatically qualify for SumExtra. You don’t need to do anything other than keep a copy of the estimate. But if your Sum Insured is less than your rebuild cost estimate, please contact your Adviser as you’ll need to update your Sum Insured to get the benefits of SumExtra. And remember, if you extend or improve your home, you’ll need to revise your Sum Insured.
Got a question?
If you have questions about SumExtra or Sum Insured, contact your Adviser or visit amp.co.nz/sumextra
Motor Vehicle Agreed Value and Roadside Assistance
We are pleased to announce that Agreed Value and Roadside Assistance is available for New customers purchasing our AMP Homeplan offering, effective from 1 April 2019. Existing AMP customers can also select Agreed Value and Roadside Assistance upon renewal, effective from 1July 2019.
What does this mean for you?
Agreed Value:
Agreed Value is insurance cover for motor vehicles whereby the sum insured is agreed at the beginning of each insurance year.
With Agreed Value cover, once the repairer's quote has been provided and we're able to determine if the car is a total loss, we'll be able to pay you in a much quicker time frame.
Existing AMP customers can choose to change to Agreed Value at renewal, effective from 1 July 2019.
However, existing customers have an option to change from Market Value to Agreed Value prior to renewal (from 1 July 2019). This must be done by an endorsement to the policy.
The Agreed Value does change slightly at renewal to account for depreciation, wear and tear, but can be re-negotiated within reasonable limits.
Roadside Assistance:
Roadside Assistance is a 24-hour vehicle breakdown service.
Roadside Assistance cover includes after-hours vehicle recovery, replacement batteries or assistance with jump starts, help with lost keys or locked-in keys and fuel.
The cover applies to the insured car, not the driver, and there is no limit on the number of call-outs in a year.
Roadside Assistance is an optional benefit available to all cover types including Comprehensive, Third Party Fire and Theft and Third Party only.
New customers have been able to select Roadside Assistance as an extra benefit from 1 April 2019, while existing customers can select Roadside Assistance at renewal from 1 July 2019.
Roadside Assistance services will be supplied directly by NZ Automobile Association.
A separate Roadside Assistance letter will be sent to all customers who choose this optional benefit. Click here to view.
Reviewing your insurances
Over time, your circumstances change. If you wish to review your insurances, let us know and we’ll be happy to help.
GET IN TOUCH: info@insurancespecialists.co.nz
Have you changed your address?
It’s important we have your current address, otherwise you may be missing important news and announcements. To update your address, please email info@insurancespecialists.co.nz
“The only person who will take care of the older person you will someday be is the younger person you are now.”
– Anon
That’s all for now. Until next time…
Kind regards
The Insurance Specialists Team