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Westpac's Commercial Property Insurance can provide up-to-date cover that's easy to understand and easy to arrange.
Contact a business manager
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| You may be purchasing commercial property for |
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investment purposes |
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as a home for your business. |
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| Westpac’s Commercial Property Insurance can provide up to date cover to help you pay for repairs or replacement of buildings, structures or contents that are damaged, destroyed, or lost due to |
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fire |
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storms |
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theft |
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or other events which may be outlined in your policy. |
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| You could save time and some money by |
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pre-arranging your insurance cover at the same time as you are applying for the finance - have peace of mind knowing that your insurance can be in place at the same time as you take possession of the property |
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asking for a 'Valuation for Insurance Purposes' when you are getting the valuation for the property you're buying. |
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| If we have pre-confirmed the cover, you have 30 days in which to tell the insurer when it started. |
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| For your security, Westpac has arranged for your insurance to be underwritten by NZI, a business division of IAG New Zealand Limited, two of New Zealand's best-known financial organisations. |
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| You can pay your premiums once a year by cheque, or once a month by direct debit - you decide. |
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| Your premium will be based on a number of factors including the physical building, and related costs, which can be substantially different to the market price. Examples include |
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older single story properties in the centre of major cities often occupy sites that have the potential for redevelopment into retail shopping outlets with high-rise office and/or accommodation above. The commercial value and investment yield of the property is likely to be based on this potential, not the actual value of the old and low cost building materials |
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a building with a commercial value at market of $2M may actually have a replacement cost of much less, which could mean saving hundreds of dollars in premium and government Fire Service levies per annum, if insurance cover is arranged for the correct amount. |
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| For an obligation-free quote, contact |
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a local Westpac business manager |
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your nearest Westpac branch |
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The claims hotline operates 24 hours a day, seven days a week. |
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We'll send out a claim form immediately if it is needed, and talk you through the process of what you need to do. |
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