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Saturday, July 6, 2013

AA Insurance - Sum insured for Canterbury customers – cover for retaining walls (bad news for Wellington and Auckland too?)

AA have updated their new policy information to include two questions and answers relating to retaining walls (they are basically the same question put twice) here

While the answers have significant ramifications for most Cantabrians on the hills, or with multi-level sections, the effect of extending this limited level of cover throughout the country will be massive. Many hillside properties in the main centres will lose a significant amount of their appeal and also their market value.

The questions and answers are:

How can I ensure that I have enough cover for retaining walls?

Currently our policy will have a $10,000 limit for the construction of all retaining walls, which means this is the most we will pay for your retaining walls to be reinstated in a future claim, regardless of your total Sum Insured.

My home is in the Port Hills – how can I ensure that I have enough cover for retaining walls?

Currently our policy will have a $10,000 limit for the construction of all retaining walls, which means this is the most we will pay for your retaining walls to be reinstated in a future claim, regardless of your total Sum Insured.

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