What's covered

Icon of broken and new vase for replacement value

Replacement Value
This cover provides 'new' for old cover. We will cover the cost associated with the repair or replacement of the contents with the nearest equivalent items that are 'substantially the same' as, but not better or more extensive than, the condition of the items when they were new. 

Contents Insurance policy cover at a glance

Insured events Replacement Value
Sudden, accidental damage                 
Malicious damage    
Fire and explosion    
Legal liability       

Important cover sub-limits 

Policy item Sub-limit
Legal liability $10,000,000
Bodily injury $1,000,000

Items limited to a sub-limit unless specified in your policy schedule

Item Sub-limit
Unset precious stones, bullion or precious metals $1,000
Personal health items (hearing aids, dentures, glasses, etc) $10,000
Collections $10,000
High value items including:
  • Sports equipment
  • Portable electronic equipment for personal use
  • Video cameras, photographic cameras and associated equipment for personal use
  • Musical instruments





Jewellery and watches $8,000 per item/$40,000 per event
Works of art $25,000

Automatic additional benefits

  • Accidental death
    If you are injured and, as a consequence, die as the result of a sudden accidental event, we will pay $20,000 to your estate. A $20,000 sub-limit applies.
  • Additional risks
    Your policy is extended to cover your personal effects up to $5,000 per item, including items purchased overseas, and up to $50,000 per claim. You are also automatically covered for cash or pre-paid cards up to $1,000 for any one event. A $5,000/$50,000 sub-limit applies.
  • Alternative accommodation
    If your main residence is uninhabitable, we will pay up to $50,000 for the additional and reasonable costs for alternative accommodation while the property is being assessed and/or repaired. A $50,000 sub-limit applies.
  • Business use items
    We'll provide up to $25,000 cover at home, and up to $5,000 cover out and about, for property owned by you that relates to a home-based office or healthcare practice. A $5,000/$25,000 sub-limit applies for home office or healthcare items and $2,000/$10,000 sub-limit applies for other business types.
  • Children's contents
    We cover your children's contents while they're in full time study and staying at boarding school, in tertiary accommodation or while boarding in a private residence. We'll also cover their belongings stored at your house while they're overseas. Sub-limit as per policy limits.
  • Contents in storage
    We cover your contents for accidental loss by restricted perils while temporarily stored in a professional storage facility. Sub-limit as per policy limits/ six months.
  • Contents in transit
    We cover your contents for accidental loss by restricted perils while being permanently moved to a new permanent address anywhere in New Zealand. Sub-limit as per policy limits.
  • Credit card fraud
    We'll provide up to $2,000 for fraudulent debit or credit card use for which you are legally liable and cannot be recovered elsewhere. A $2,000 sub-limit applies. 
  • Emergency entry
    If emergency services cause damage to your property on entry, we'll cover it up to $10,000. A $10,000 sub-limit applies.
  • Emergency evacuation
    We'll allow you to claim under the 'Alternative accommodation' benefit when you are denied access to your house due to safety concerns or an emergency. A $50,000 sub-limit applies.
  • Emergency recovery
    If your property suffers a significant loss, and we believe that it is likely to be a claim greater than $100,000, we'll help out immediately by providing a $5,000 cash benefit to assist you with recovery. A $5,000 sub-limit applies.
  • Frozen food
    If your freezer accidentally breaks down, loses refrigerant or the power supply is disconnected, we will pay up to $2,000 for any spoilt items. A $2,000 sub-limit applies.
  • Hidden gradual loss
    In certain circumstances we'll provide up to $5,000 for hidden rot, hidden mildew or hidden gradual deterioration caused by water leaking from an internal source. A $5,000 sub-limit applies.
  • Locks and keys
    We will cover the reasonable cost of replacing locks and keys (including electronic access cards and transponders and remote door openers) if they have been lost, damaged, stolen or duplicated. You will not have an excess applied and your No Claims Bonus will not be affected. Sub-limit as per policy limits.
  • Moving to a new home
    If you're moving house, we'll automatically cover your contents at the new address for up to 30 days on the same terms and conditions as the existing policy.
  • New for old
    Under our Replacement value cover option, if an item cannot be repaired, we will replace it with the nearest equivalent item available that is substantially the same as the damaged item was when new. 
  • Pairs and sets
    If we are unable to repair an item of jewellery or artwork that forms part of a pair or set, and we are unable to repair or replace the complete pair, we will, at your request, settle the claim as if the whole pair or set was involved in the loss. Sub-limit as per policy limits.
  • Parents' and Grandparents' contents
    We cover your parents' or grandparents' contents automatically under your policy while they're residing in a rest home, hospice or the like. Sub-limit as per policy limits.
  • Personal health items
    If your claim is solely for hearing aids, dentures, prescription glasses, contacts, walking sticks and frames or wheelchairs we will not apply an excess and your no claims bonus will not be affected. 
  • Protection costs
    We'll provide up to $10,000 for reasonable costs incurred to protect your property from loss, or following a loss, to minimise damage and prevent further loss. We will also pay the reasonable costs incurred to replenish your fire fighting equipment after it has been used to protect your house. A $10,000 sub-limit applies.
  • Reduction in value
    If we choose to repair or replace any item of jewellery, artwork or musical instrument, we'll pay  for any reduction in current value of the item that results. Sub-limit as per policy limits.
  • You choose your repairer
    You can select your own repairer.  If you select a repairer that we approve, we will guarantee the quality of their repairs completed under the claim. Sub-limit as per policy limits.

Check how much contents cover you need

Illustration of papers with a tick for agreed value

It's important to regularly review how much your contents are worth - the cost to replace everything you own might be more than you think. Our contents calculator can help you work out the approximate value of your belongings quickly and easily.

This webpage is intended as an information guide only and does not form part of the policy document or any contract with MAS. This webpage does not consider your specific financial situation, needs or goals. You can find out more about financial advice at MAS here. Normal underwriting criteria apply for all insurance products. Special conditions and/or excesses may apply to the situations that meets your specific needs.

MAS applies underwriting criteria when you apply for insurance to determine whether MAS will offer you cover and, if so, on what terms. Please note cover will not be available in all circumstances, and that certain conditions and/or excesses may apply if MAS offers cover. MAS’ standard policy wordings is available here.