AA Landlord Insurance

AA Insurance has been providing general insurance to Kiwis for almost three decades.

Its products have been exclusively developed locally, keeping the needs and preferences of its extensive clientele in mind.

They have a rich history marked by significant milestones. In 1994, they were established as a joint venture between GIO Australia and the New Zealand Automobile Association. Royal & Sun Alliance Insurance Limited, based in New Zealand, holds 68% of the shares in AA Insurance. The latter began trading on the New Zealand Stock Exchange under the name Promina in 1995.

Through these transformative events, they’ve evolved into an independently operated insurance provider in  New Zealand, established from the fusion between the New Zealand Automobile Association (NZAA) and Vero Insurance New Zealand Limited.

A proud heritage of excellence

The company takes pride in its ability to offer competitive and flexible insurance coverage, while also delivering top-notch customer service. Their reputation is validated by a series of independent awards, such as the Reader's Digest’s Most Trusted General Insurer title, which has been bestowed yearly by the voting public since 2011. Additionally, they’ve been consistently recognised in the Quality Service Awards for Car Insurance by Reader's Digest since 2015.

Recognition makes the difference

Guided by genuine values, AA Insurance's actions are influenced by its employees' strong belief in the company's mission and purpose. They recognise individuals who are dedicated to making a positive impact on customers. This attitude serves as a guiding principle in all aspects of AA Insurance's operations.

The best of the best

AA Insurance has been dedicated to safeguarding what matters most to New Zealanders. The company is committed to taking care of its customers, employees, as well as the broader interests of the community and the environment.

They’ve strived to consistently do the right thing, prioritising people as a fundamental aspect of their approach. This commitment to excellence has resulted in the company consistently being ranked as one of the top five businesses in New Zealand according to the Colmar Brunton Corporate Reputation Index since 2015.

Landlord insurance protects property owners against a range of risks associated with leasing properties to third parties.

Standard benefits include:

1. Covers loss of rent of $20,000 per event (up to 12 months) if the rental home becomes uninhabitable due to a covered loss or if tenants are prevented from accessing the rental home by order or direction of government or local authorities during the period of insurance.
2. Pays for loss to retaining walls up to $50,000 per event. Coverage relates to the repair or rebuild cost of the walls.
3. Natural disaster cover, also referred to as EQ Cover, is provided by the Earthquake Commission. It caters to the difference between the EQ payout and the amount that would have been received if the loss had been wholly covered by the policy. This cover is subject to conditions such as the Earthquake Commission’s acceptance of the claim and repair costs that are more than the EQ Cover amount.
4. Covers the reasonable cost to restore, reset, or reprogramme permanently installed electronic equipment in the rental home in case of a covered loss. It doesn’t provide for replacing data on such equipment.

AA landlord insurance offers even more value

You can choose to include a number of optional benefits in your policy at an additional premium.

These include:

1. Landlord contents cover: This covers the loss of landlord property at the insured address. The payout is based on the lowest value between the repair or market value of the item in cash, voucher, or store credit.
2. Tenants vacating without notice: It offers a maximum payout for one tenancy in the form of 8 weeks’ rent should tenants vacate the rental home without notice.
3. Loss of rent: Pays out in the event of loss of rent should the policyholder evict tenants due to non-payment or malicious damage to property. A total of 8 weeks’ rent is covered.
4. Malicious damage and theft: You qualify for coverage of up to $20,000 for losses to the house or contents due to vandalism by tenants.
5. Illegal drug use: You get coverage of up to $30, 000 for decontamination and repair of your property due to the use, storage, or manufacture of illegal drugs by the tenants.

Legal liability cover

AA will pay up to $2 million for damages caused to property that doesn’t belong to you but that you are liable for.