Simplifying Insurance

‘Premium’ is a common term that you might come across when you take out insurance, at renewal and at claim time. We’ll explain what an insurance premium is and give you a breakdown of a few key factors that influence the amount of premium you’re charged.

A premium is the dollar amount that you pay for an insurance policy each year. Many factors go into calculating your insurance premium and can influence the cost of your premium changing year on year. Here are answers to three common questions about premiums.

‘Excess’ is a term you will come across when looking into insurance and it’s important to understand what it means so that you can plan accordingly and ensure there aren’t any surprises at claim time.

‘Proof of ownership’ is a term commonly found in insurance documents, particularly in relation to making a claim. Let’s take a closer look at what is meant by it.

Your home may be your most valuable asset, so it makes sense to protect it from the cost of unexpected damage or loss. Let's take a look at the benefits of home insurance, how it works and a few things to consider before choosing your cover.

It's important to understand what ‘sum insured’ means in the context of insurance. Correctly estimating your sum insured and reviewing it regularly will help ensure you have enough cover for your needs. Here's some useful information on the subject.

What happens when your insurance policy comes up for renewal? Here’s some information on what to expect from the process.

If you’re a customer with AA Insurance, you may come across the term ‘replacement cover’ in your home insurance documentation. This is a benefit we offer and refers to a way in which we may settle home insurance claims when they’re not related to a natural hazard.

Did you know that reinsurance has an effect on how much your insurance costs? Here’s some information to help you understand what is meant by the term.

What happens when you make a home insurance claim? We’ve outlined each step so you know what to expect if you need to make a claim.

Should the unthinkable happen, it's good to know how to make a claim to get your insurance sorted quickly.

Being covered for the unexpected is one of the reasons we have insurance. But it isn’t just about protecting your property; it’s also about protecting yourself from unforeseen costs if you accidently cause damage to someone else’s property. That’s where your insurance, and specifically your legal liability cover, comes in.

Commonly, a home insurance policy won’t pay for work on any part of your home that hasn’t suffered loss, or cover costs related to enhancing your home beyond the condition it was in before the loss. Here's some useful information on 'reinstatement condition'.

There are many ways in which a home insurance claim can be settled, and the option your insurance provider chooses will largely depend on the nature of your claim, your personal circumstances and the type cover you have purchased.

The word ‘event’ is commonly used in insurance to describe a sudden, accidental and unforeseen situation that may have caused damage to your property. Here’s some information and a few examples to help you understand what is considered an event in insurance.

‘Settlement amount’ is a common term that comes up in insurance documents and during the claims process. Understanding the term and how a settlement amount is determined will help you avoid surprises in the event of a claim. Here’s the breakdown.

If your insurer tells you that your property is a 'total loss' - commonly known as 'totalled' or 'written off' - your claim will be processed and settled differently, so it’s useful to understand what the term means. We’re here to help.

‘One event, one excess’ is a benefit some insurance providers offer their customers. Here’s some information and a few examples to help explain what the benefit means in practice.

We‘re often asked whether undamaged areas of the home are covered by insurance, specifically when two areas - say the carpet downstairs compared to upstairs - no longer match in appearance. Here’s what you need to know.

Insurance policies are designed to cover you for sudden, accidental and unforeseen damage or loss. Gradual damage is deterioration that happens over time and may not be covered by your insurance.

When researching motor insurance options, you may come across the terms ‘agreed value’ and ‘market value’. It’s important to understand the difference between these terms before you take out insurance.

There are a number of ways in which your contents claim can be settled. ‘New for old’ is one of them, so let’s take a closer look at what is meant by this insurance term.

It's good to know what to expect should you need to make a claim on your car insurance policy. Here's a breakdown of the claims process for AA Insurance customers.

Car insurance isn’t mandatory in New Zealand, but there are many reasons why you should consider having it. Let’s take a look at the benefits of car insurance, how it works, and what you should think about before choosing your cover.

Making a contents insurance claim can be daunting. We’ve laid out each step of the journey so you know what to expect from the process.

Contents insurance is a great way to protect yourself and your property against the unexpected. Here's a breakdown of its benefits, how it works and the things you should consider before choosing your cover.

Wrapping your head around small business insurance may feel like a challenge and just another thing to add to your to-do list. So to give you a hand, we’ve spoken to our Small Business team to get their best tips on how to get started and what to consider.