Understanding renewals and statements

Automatic renewal makes it easy for your insurance to continue year-on-year without you needing to do anything, just make sure your cover is still suited to your situation.

If you don’t notify us of any changes or your intent to cancel, the policy will automatically renew, with any necessary premium adjustments.

If you do not notify us of any changes or your intent to cancel, the policy will automatically renew, with any necessary premium adjustments.

To ensure continuity of cover (if appropriate), your premium should be reviewed and paid on or before the renewal date.

Any changes to premiums, terms, or policy specifics will be clearly communicated in the provided documentation. It is important to review your renewal statement carefully to confirm the accuracy of the information and to understand any updates prior to the renewal taking place.

Certain policies don’t auto renew (for example, but not limited to, Professional Indemnity, Association Liability, Management Liability, Contract Works, and Travel).   You can also view  What we cover here.

If you need to discuss your policy needs contact us.

If applicable, your Renewal Statement’s appendix includes an Additional Excess section.  This details the excesses that will be charged in addition to those set out in the Policy Certificate, if you need to make a claim.

Please review these details and contact us if you have any questions or changes.

You have a legal duty to disclose everything to us that is relevant to the risk to be insured. This is so we can make an informed decision on providing the policy and, if we do agree to provide the policy, the terms of cover.

If you don’t do this then we may have the right to cancel your policy, decline to pay any benefits, or treat your policy as being invalid from the beginning.

All property owners who insure their assets against the risk of fire need to pay a Fire and Emergency Levy. This levy is used to fund the Fire and Emergency New Zealand (FENZ) Learn more.

We collect this levy on behalf of the government and pass it directly to Fire and Emergency New Zealand.

You need to complete the declaration to ensure you’re adequately covered and paying no more than necessary. The declaration is required for property insured for Nominated Replacement Value (including Farm Buildings, General Farm Contents, Commercial Buildings, Commercial Contents and Stock).

We post this legal declaration for you to sign, scan and email to feldeclarations@fmg.co.nz.

We’ll then calculate the levy based on the indemnity value of the item.

These are collected on behalf of the Natural Hazards Commission Toka Tū Ake, and Fire and Emergency New Zealand.

Your policy renewal documents include your Invoice, Statement, and Policy Certificates.

Your Policy Certificate outlines your covered items, and your Statement sets out the payment required to maintain cover for the upcoming period of insurance. It’s important that you review these details carefully, paying attention to the Important Conditions and Explanatory Notes contained on page 2. If no changes are needed to your policy renewal documents, no further action is required.     These are explained in detail above.

The Policy Certificate contains important information specific to your individual cover and forms part of the insurance contract you have with us.

It’s important to review the Policy Certificate to check everything is as expected and reflects your current circumstances. As costs and your circumstances change over time, it’s also crucial to review your Sums Insured (that is, the amount your items are insured up to) to ensure you have the appropriate level of cover. Otherwise, you may risk having insufficient coverage in the event of a claim.

You can find out more about your cover and access the full policy wordings here, on FMG Connect, or contact us.

We periodically review and make changes to our policy wordings. Learn more.

As costs and your circumstances change over time, it’s crucial to review your Sums Insured (that is, the amount your items are insured up to) to ensure you have the appropriate level of cover. Otherwise, you may risk having insufficient coverage in the event of a claim. 

Forestry, Orchard Fruit, Kiwifruit Top Up, or Arable Crop policies contain a provision making them “subject to average” (the Average clause). The Average clause will have effect only if the insured items are underinsured at the time of the loss or damage, in which case the following rules apply if you suffer a:

-  total loss, the Average clause will have no effect; and

- partial loss, The amount we'll pay is proportionate to the loss you suffer, relative to sum insured versus actual value.

Whatever your loss, you are not able to recover more than the amount for which the items are insured. For example, if your policy is “subject to average” and:

• - your insured item is worth $20,000; and
• - you insure it for $10,000; and
• - you suffer a loss of $5,000; then
• - the maximum amount you may recover is $2,500.