What contents items do I need to specify?

When you insure your belongings, you pick a total amount of cover for everything. But, some items still have a limit on how much they’re covered for. If you think something is worth more than this limit, you can add this as a specified item and it will be noted on your policy. This means it has a higher limit if something goes wrong.

The limits on the items below can be increased if you specify a higher amount;

Jewellery & Watches:

$3,000 per item

Camera or Camera Equipment:

$3,000 per item

Bicycles (Present value):

$2,000 per bike

Watersport Equipment (Present value):

$2,000 per item

Drone / remote controlled aircraft (Replacement if less than 2 years, otherwise present value):

$3,000 per item

Collections (Stamps, medals, coins):

$3,000 per collection

It’s important to note that some categories of contents are still insured for their present value (read more), so make sure you are specifying the amount for present value or replacement value depending which applies.

As an example, bikes are insured for their present value. If you purchased an e-bike 2 years ago for $8,000 it may only be worth $5,000 today (present value). In the event of a claim, your settlement would be based on the present value, (in this example $5,000). Since this is over the $2,000 policy limit for bicycles, you would need to specify the present value, otherwise the claim would be limited to $2,000.

Since the present and replacement value of items changes over time, we recommend that each year you check the present or replacement values (depending which applies) for your items. If they’re insured for more than their value (replacement or present value, depending on the type of contents), you’re paying extra for no real benefit.

Multiple Items of Jewellery

Maximum payment – for multiple items of unspecified jewellery and watches Unless a different maximum payment amount is shown in the schedule, the most we will pay for any event for multiple items of jewellery and watches that are not specified items is $15,000. For example, if you lose 10 pieces of jewellery, each with a value of $2,000, the most we will pay is $15,000 unless we have previously agreed to increase the limit to $20,000..


We can insure e-bikes on your contents policy that they are “pedal operated bicycles with motor assistance” If the motor is the primary source to propel the bicycle then the NZTA considers those to be classed as a vehicle and they would therefore need to be insured under a motorcycle cover. Visit NZTA to learn more. Don’t forget to specify your e-bike if its present value is over $2,000.

Drones / Remote controlled aircraft

The cover is automatically provided under your existing home contents policy for drones and their accessories for up to $3,000, provided the drone is;

  • only used for personal use (ie. Not commercial/business) and
  • is operated within NZ Aviation legislation and
  • reasonable precautions/care are taken when securing and operating the drone

Drones are insured for replacement value whilst they are under 2 years old, present/market value applies for drones over 2 years old.

If you would like to know more, please contact us.

Initio Replacement Contents Cover


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