What we will pay - new for old
Repairing or replacing your contents
When an insured event causes damage or loss to your contents during the period of cover, we will decide either to repair or replace your contents or to pay the cost of repairing or replacing them.
If we decide to repair or replace your contents:
it will be with new materials or new contents,
we will make reasonable endeavours to match materials and contents. Where this does not achieve an exact match, materials and contents that in our opinion match the damaged or lost contents as near as reasonably practicable will be used, except as provided for under ‘Damage to fixed carpets, curtains and internal blinds’ on page 26.
If we decide to pay the cost of repairing or replacing your contents:
we will pay up to the contents amount covered shown on the most recent of your policy schedule and your renewal notice,
our payment will not exceed any limits detailed in this policy and it will not exceed the contents amount covered, except as provided for under ‘What we cover - additional benefits’ on pages 28 - 32 of this policy,
our payment will be the current retail price or the discounted price we may obtain, whichever is lower.
When the damage or loss to your contents is such that we decide to pay the amount covered and you are paying your premium in instalments, we will deduct the total unpaid balance of your annual premium from the payment we make.
Damage to fixed carpets, curtains and internal blinds
When we repair or replace damage to fixed carpets, curtains and internal blinds:
we also replace undamaged coverings if this is reasonably required to achieve a match with the repair or replacement of the damaged area,
the repair or replacement is limited to the room, passageway, stairwell or functional area where the damage occurred.
Replacing CDs and DVDs
Because we will replace or pay to replace electronic files, when we replace or pay to replace CDs or DVDs that contain electronic files comprising computer software, music or moving images:
domestically-produced (or ‘burned’) CDs or DVDs will be replaced as blank media, or we will pay the cost of blank media,
commercially-produced CDs or DVDs will be replaced or we will pay the cost of purchasing replacement commercially-produced CDs or DVDs.
We do not cover the costs of replacing electronic files for which you do not have a licence.
The AAMI Home Repair Guarantee
The quality of workmanship and the materials used in any repair of your contents that we arrange and authorise will be guaranteed for the life of the contents.
If you are concerned about the quality of the repair of your contents, you must call us on 13 22 44. We will arrange with you to inspect the repair and we will arrange any necessary rectification work. You must not authorise any rectification work without our written authority.
What we do not pay for
We do not pay for:
the repair or replacement of undamaged contents or any undamaged part of them to match contents we have repaired or replaced, except as provided for under ‘Damage to fixed carpets, curtains and internal blinds’ on page 26,
any decrease in the value of a pair, set or collection when the damaged or lost item forms part of the pair, set or collection. We pay only for the repair or replacement of the item which was damaged or lost,
damage or loss on a ‘new for old’ basis for old contents which have passed their ‘use by’ date and are stored away. We pay the reasonable market value for these contents based on their age and condition at the time of the loss.
Maintaining your contents
We insure your contents on the condition that they and your home have been and will continue to be properly maintained and repaired.
If, when you claim for damage or loss, your contents and your home have not been properly maintained and repaired, we may reduce our payment or refuse to pay your claim.
Other costs
Our payment will include, where applicable, the following costs and these costs will be included within the contents amount covered. Where we decide to reimburse a cost you have incurred, our payment will not be more than the actual cost you incur.
Removal of debris
If the removal from your building of damaged or destroyed contents is necessary, we will pay the reasonable cost of the removal, and, at our option, make the necessary arrangements.
When your contents are removed for storage or repair
If your building is damaged or destroyed by an insured event, we will pay:
the reasonable cost and, at our option, make the necessary arrangements for any necessary removal and storage of your contents during the reasonable period for up to 12 months while your building is being rebuilt or repaired,
for any additional damage or loss to your contents caused by an insured event while they are at the place of storage or repair, provided the contents amount covered is not exceeded.