Duty of Disclosure

You must tell us everything you know (or could be reasonably expected to know) that a prudent insurer would want to take into account in deciding:

a. Whether to agree to insure you

b. if so, on what terms

Examples of what you must tell us include:

a. anything that increases the risk of a claim

b. any criminal offending or convictions

c. any previous insurance claims

d. any refusal by another insurer to insure you on standard terms.

You must also tell us this every time this policy renews and when you make any changes to it. If you fail to do this, we may void the policy retrospectively. You will have no insurance at all. When in doubt, disclose. We treat all information confidentially

Change in circumstances

You must tell us about any material changes in your circumstances after the policy starts and during the policy period

Privacy

  1. The personal information you provide in this proposal will be held by Initio, 15 Clifton Road, Hamilton, and Lumley (IAG New Zealand Ltd), 88 Shortland Street, Auckland.
  2. Our collection of this information is part of your duty of disclosure at law to us, and is compulsory
  3. If you fail to provide it, we may choose not to insure you.
  4. We may pass on limited information about your property (ie name, property address, period of cover, sum insured) to the organisation if any (eg Bookabach, New Zealand Property Investors Association) that has referred you to us.
  5. You have rights of access to the personal information, and correction of it, under the Privacy Act 1993.

IMPORTANT – Replacement Sum Insured 
The ‘replacement sum insured’ above represents the total replacement value of your dwelling and improvements (eg driveways, swimming pools, fencing etc). We do not accept any responsibility for the accuracy of this value. You are responsible for determining and accepting this value. An insurance valuation or using an online replacement value calculator will provide you with more accuracy of replacement value.