Property products
Material Damage and Business Interruption
Business and property owners need cover for the potential loss or damage to their physical assets and any subsequent business interruption incurred as a result. This could include such incidents as fire, vandalism, theft, vehicle impact, water and electrical damage, and weather events.
Protect your assets and ensure business continuity
Coverage
Business interruption
The policy extends to cover business interruption losses resulting from damage to the property, compensating for lost income and additional expenses incurred due to the interruption of business operations.
Material damage
This cover insures against damage or accidental loss to physical assets, including buildings, contents, plant and equipment, fit-out and stock.
Benefits
Flexible settlement options
Various settlement options, including indemnity value, replacement value, and specific provisions for different types of property.
Additional cover options
The policy includes additional covers such as capital additions, demolition and other costs, expediting costs, and protection costs.
Support for sustainable rebuilding
The policy offers coverage for sustainable rebuilding costs, allowing clients to upgrade buildings with sustainable products. This not only helps in rebuilding but also promotes environmentally friendly practices.
- $11b of New Zealand-wide property
- Up to $25m for any one location, depending on the occupation of the business and its age and construction characteristics
- Some capacity for pre-1935 risks
- Office, residential and light commercial
- Some capacity for higher hazard risks, including locations that have poor claims history or are located in problematic geographic areas susceptible to flooding
- Some capacity for earthquake-sensitive areas such as Wellington, Marlborough and Christchurch
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Frequently Asked Questions
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