Buying or selling a house in Canterbury
Buying or selling a house is one of the most important events in your life. There are lots of things to think about, and insurance is one of them. It pays to get onto it quickly to make things run as smoothly as possible.
Here are some helpful checklists:
Congratulations! You have finally found that house to purchase within your budget.
- Has the house pre-purchase check been undertaken?
- Do you have finance approved?
- Ask the vendor or your real estate agent to help you with the following
- As early as possible, find out who currently insures the house
- Establish if any damage has been made to the house from the Canterbury earthquakes
- Have any claims been lodged with EQC and the private insurer in regard to the damage?
- What are the associated claim numbers?
- Confirm the status of these claims i.e. settled/unrepaired, settled/repaired or yet to be settled
- Confirm that any EQC & private insurer claims will be assigned to you, as the new purchaser of the house.
- Contact AMI to discuss an application for house insurance well before settlement date as additional documentation may be required
- Obtain confirmation that you have insurance on the house well before settlement date
- Your solicitor will require evidence of this house insurance after sale/purchase is confirmed
Congratulations! You've sold your house.
- Find and confirm the real estate agency to handle your sale or auction
- Provide your real estate agent with
- Any recent house inspection reports
- Details of the current insurer
- The associated house policy number
- Details of any earthquake damage
- Details of any claims lodged with EQC or your private insurer and their current status
- Provide your authority for any of this information to be made available to any purchaser.
Are you buying a new house?
Insuring a new home is easy, call us on 0800 100 200.
FAQs for Canterbury customers
"I'm buying a home that isn’t insured with AMI, but I’ve been an AMI customer for years. Do I have to keep the home insured with the insurance company that currently insures it?"
Although we have some criteria around what AMI can and can’t accept, we may be able to offer you cover. You may be required to complete a Supplementary Application for Canterbury form with the details of earthquake damage and the status of repairs. We’ll then assess your application and let you know whether we are able to insure your new home. Depending on your situation we may require additional documentation such as a Scope of Works, a builders report or evidence of completed repairs. If you have any of these documents already, please provide them with your Supplementary Application form.
Please call us on 0800 100 200 and we’ll let you know if you need to complete one and either send one to you or you can download it here.
“I’m looking at selling my property but I’m going to keep all the cash settlements that have been paid by EQC and Southern Response. Can the property still be insured by AMI for the new owner?”
Throughout Christchurch many homes are now being sold on an “As is where is” basis.The seller is often given a cash settlement for unrepaired earthquake damage, leaving the new owner to arrange repairs. In this case, we may require written confirmation from a structural engineer to make sure the repairs have been completely carried out in compliance with the requirements of the Building Code before we can consider cover. In order to confirm the documentation we may need, please call us on 0800 100 200 to discuss.
We may also consider an application for cover if:
- The damage is cosmetic only - meaning it doesn’t affect the use or structural stability of the house and this can be backed up by suitable documentation
- We are satisfied with the new owners intention to repair it.
“My home has been deemed a total loss. Why do I need to do keep my insurance current?”
If your home has been confirmed as a total loss with no set rebuild date or you have taken or are considering taking a cash settlement, contact us and we’ll talk you through the options available for your specific policy. If your home is habitable and we continue your AMI policy, you will still be covered for liability, future natural disaster events and emergency repairs should something happen to your home in the time before it is demolished to be rebuilt. If it is uninhabitable as deemed through the claims process then the policy should be cancelled.
If you need more information or have any questions to do with your home, please contact AMI on 0800 100 200. They’ll be happy to help.