Tag Archives: Insurance – Sum Assured or Fixed Sum

How our insurance policies are going to change, get more complicated, and likely to cost much more.

As this year progresses insurers are changing all existing house insurance policies from “full replacement” to “sum assured”. The change means no one will automatically have a “like for like” insurance policy. The change will require each home owner to … Continue reading

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More on AA Insurance’s sum insured house policies

AA Insurance have updated their Sum Insured FAQs (here). More topics are covered and additional information has been provided. The topics covered are: What are the changes happening to your home insurance? Why the change? What is the effect on … Continue reading

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More on the new “sum assured” house insurance policies

Diana Clements, writing in the New Zealand Herald today (here), has an article about the future of property insurance as companies go along the Sum Assured or Fixed Sum route. This is the future for all of us, and has … Continue reading

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IAG and Vero go for “sum insured” insurance instead of full replacement

Stuff today reported (here) IAG and Vero have announced they are going down the “sum insured” route to replace all “full replacement” house policies. This is very much a nationwide political issue that has arisen out of Canterbury’s earthquake insurance … Continue reading

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AA Insurance changes – important for everyone with house insurance

Stuff (here) has reported that AA Insurance will no longer provide a full replacement policy option – instead they will offer only a “sum assured” policy. Existing policy holders will automatically switch to the sum assured style of policy on … Continue reading

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