COMBINED POLICY DISCOUNT
TERMS AND CONDITIONS

Effective from 29 September 2022

These are the terms and conditions for a combined policy discount on policies provided by Vero Insurance New Zealand Limited ("Vero") and distributed through AMP Services (NZ) Limited (“AMP”). In these terms and conditions “we”, “our” and “us” refer to Vero, and “you” refers to the insured named on the policy schedule.

AMP Everyday Plus and Everyday Home & Contents Insurance Combined Policy Discount Terms and Conditions

The following combined policy discount terms and conditions apply to Home and Contents insurance cover through AMP Digital. 

Eligibility Criteria

You will be eligible to receive a combined policy discount if you meet all the following (“Eligibility Criteria”):

• You have insurance cover for Home and Contents with Vero which is AMP branded (“Eligible Insured Assets”)
• The Eligible Insured Assets are insured under the same policy
• The Eligible Insured Assets are insured under either of the following policies:
  • Everyday Plus Home & Contents Insurance
  • Everyday Home & Contents Insurance
• You exceed the Minimum Premium threshold requirements as outlined below in section 7.

Where the Eligibility Criteria are met, the Eligible Insured Assets are eligible to be considered for a combined policy discount. 

Non-Eligible Insured Assets

Any other assets, including the following assets and policies, are not eligible to be considered for a combined policy discount (“non-Eligible Insured Assets”):

• Everyday Plus Landlord Insurance
• Everyday Plus Car Insurance
• Third Party, Fire and Theft Car Insurance
• Third Party Property Damage Only Car Insurance

Application of Combined policy discount

Where the Eligibility Criteria are met, the following conditions set out how the combined policy discount is applied:

1. If you are insured with Vero through AMP and have Everyday Plus Home & Contents Insurance or Everyday Home & Contents Insurance, you are eligible for up to a 15% combined policy discount. The discount is applied to the company premium and natural disaster premium for your policy. Your premium will be displayed on your policy schedule.
2.  The combined policy discount does not apply to fees, levies or GST which may be charged on the premium for the Eligible Insured Assets. The combined policy discount is applied to the premium before fees, levies or GST are added.
3.  The combined policy discount applies to premium charged for any Optional Benefits you have chosen to add to your policy.
4.  The combined policy discount applies to all Eligible Insured Assets from the time when the second Eligible Insured Asset is insured with Vero.
5.  If you no longer have two Eligible Insured Assets, you will no longer be eligible for a combined policy discount. The combined policy discount will be removed from the premium charged for any Eligible Insured Assets that remain insured with Vero.
6.  Where a policy eligible for the combined policy discount is changed mid-term because of a change in circumstance, such as a change in the insured address, and this results in a change in premium for the policy, the combined policy discount will be applied to the policy change and subsequent premium change.
7.  Each Eligible Insured Asset has a minimum premium threshold (‘Minimum Premium’) which is the lowest premium that can be charged for the insurance cover for that asset. The Minimum Premium changes depending on the type of asset insured. Any discounts applied cannot reduce the premium for an Eligible Insured Asset to less than the Minimum Premium. This means that the combined policy discount may not be applied in full or at all in the following scenarios:
   1.  Where the premium for an Eligible Insured Asset is already at or close to the Minimum Premium;
   2.  Where other discounts applied to the Eligible Insured Asset, such as discretionary discounts, result in the premium for an Eligible Insured Asset reducing to the level of or close to the level of the Minimum Premium;
   3.  In rare cases, where the premium for all Eligible Insured Assets is already at Minimum Premium, the combined policy discount will not reduce the premium at all.

General conditions governing the Combined Policy Discount for AMP Everyday Plus and Everyday Home & Contents Insurance

1.  Vero reserves the right to remove a combined policy discount where it discovers that you do not meet the Eligibility Criteria for the application of the combined policy discount. 
2.  Vero may alter these terms and conditions and the Eligibility Criteria which applies to combined discounts, including whether a particular asset type is an Eligible Insured Asset, or the rate of discount applied.  This change will apply to any future renewal, except where Vero has already issued a renewal notice for the asset type.  Any changes may mean that you are no longer eligible for a combined policy discount. Vero accepts no liability for any loss or damage related to any change in the terms and conditions which govern eligibility for a combined policy discount.  This restriction does not apply to any rights you may have under consumer law.
3.  Vero will take reasonable steps to ensure that a combined policy discount is applied to policies covering Eligible Insured Assets.  However, you should ensure that we are advised about policies for other Eligible Insured Assets so that a combined policy discount can be applied.  This may include contacting us to ensure that any Eligible Insured Assets are linked on the same policy.  
4.  Vero will not be liable for any loss, damage, or liability as a result of you providing us with details of policies for Eligible Insured Assets which are incorrect.
5.  The combined policy discount cannot be transferred or redeemed for cash.
6.  These Combined Policy Discount Terms and Conditions are additional to your policy terms and conditions, Vero’s AMP Online Terms of Use. Where there is a conflict between these terms and the terms of your insurance policy, the terms of the policy will prevail.
7.  Vero will collect, hold, use and share personal information about you in connection with the combined policy discount in line with our standard privacy statement and subject to the Privacy Act.