Replacement / Hire-Car Cover — NZ Commercial Motor Compared
After an at-fault claim, theft, or write-off, how many days of replacement-vehicle cover does each NZ commercial-motor wording provide? What's the daily $-cap? Per-insurer extract from the ingested wording.
after_theft: yes — 'Theft Cost – Hire of alternative vehicle': covers necessary and reasonable costs of hiring another vehicle of a similar make and model following theft or unlawful conversion; the cost of the first 7 days of hire is not covered; maximum $5,000 for any one event unless a different amount is shown in the schedule
daily_cap_nzd: daily rate shown in the schedule (applies when no similar vehicle is available for hire)
days_after_at_fault: covered under optional 'Loss of Use' extension (schedule-stated limit); excess equal to cost of first 7 days hire applies
days_after_not_at_fault: covered under optional 'Loss of Use' extension (schedule-stated limit); excess equal to cost of first 7 days hire applies
after_theft: Theft Costs automatic extension covers the necessary and reasonable costs incurred by you of hiring another vehicle of a similar make and model; the cost of the first 7 days of hire is not covered; the most we will pay under this extension is $5,000 for any one event, unless a different amount is shown in the schedule
daily_cap_nzd: The daily rate shown in the schedule (applies where no similar vehicle is available for hire); the most we will pay under this extension for any one insured vehicle is the limit stated in the schedule
days_after_at_fault: Loss of Use optional extension: maximum Period of Cover is 90 days; an excess equal to the cost of the first 7 days hire applies to all claims under this extension
after_theft: yes — Extension 42 (Theft Costs) covers hiring another vehicle of similar make and model subject to a maximum weekly limit as specified in the schedule; maximum limit for any one claim as specified in the schedule; and a deductible of seven (7) days.
days_after_at_fault: Optional Extension 3 (Loss of Use / Replacement Vehicle Costs) applies when stated in schedule — limits specified in schedule.
days_after_not_at_fault: Optional Extension 3 (Loss of Use / Replacement Vehicle Costs) applies when stated in schedule — limits specified in schedule.
DUAL New Zealand Commercial Motor Vehicle (08.23 v2)
after_theft: Cover begins on date the insured vehicle is stolen; cost of first 7 days not covered; ends when vehicle recovered and repaired and returned, or when claim settled (Section 1 Automatic Extension S – Theft – Hire of Alternative Vehicle)
days_after_at_fault: First 7 days of hire not covered; cover begins when insured vehicle is delivered to repairer or date of loss if unfit to drive; ends when repairs completed or total loss settled or hire vehicle returned (Optional Extension C – Loss of Use, only where specified in schedule)
after_theft: yes — 'If an Insured Vehicle suffers Loss or Damage directly arising from theft or illegal conversion covered under Section 1, then this Policy is extended to cover the reasonable costs of hiring another Vehicle of a similar make, model and specification'
days_after_not_at_fault: cover begins 7 days from the date the Insured Vehicle was stolen/converted and notified to the police; ends once the Insured Vehicle is recovered, repaired and returned to the Insured, or We have settled the Insured's claim under this Policy (Theft – Hire of Alternative Vehicle automatic extension)
Currently showing 5 of 6 FCIB-panel insurers — AIG / Zurich / Delta / Dual NZ wordings are pending broker-portal supply.
See the full panel.