Effective from 21 March 2022.

These are the terms and conditions for a multi-policy discount on policies provided by Vero Insurance New Zealand Limited ("Vero") and distributed through the Vero, VeroCIS or Vintage Car Club brands. In these terms and conditions “we”, “our” and “us” refer to Vero, and “you” refers to the insured named on the policy schedule.

For multi-policy discount terms and conditions that apply to insurance cover under the Vero brand, click here.

For multi-policy discount terms and conditions that apply to insurance cover under the VeroCIS brand, click here.

For Vintage Car Club customers with Vintage Cars or Classic Cars insured, please click here for the multi-policy discount terms and conditions that apply to insurance cover for Vintage Cars and Classic cars.

You will be eligible to receive a multi-policy discount on any Eligible Insured Assets if you meet all the following (“Eligibility Criteria”):

• You have insurance cover for at least one Qualifying Insured Asset with Vero which are branded or co-branded Vero; and
• The Qualifying Insured Asset(s) and any Eligible Insured Assets are:
  • Insured under the same policy; or
  • Insured under multiple policies and the policies have been linked by a matched Vero client number.
• You exceed the Minimum Premium as outlined below in section 10.

Where the Eligibility Criteria are met, the following assets are eligible to be considered for a multi-policy discount (“Eligible Insured Assets”):

• House
• Contents

Any other assets, including the following assets and commercial policies, are not eligible to be considered for a multi-policy discount, even if the Eligibility Criteria are met (“non-Eligible Insured Assets”):

• Cars
• Motorcycles
• Trailers
• Caravans
• Campervans
• Motorhomes
• Site Cover
• Transit Cover
• The following boat risks:
  • Trailered powerboat
  • Trailered sailboat
  • Trailered jetboat
  • Jet-ski
  • Canoe/kayak/dinghy insured under a standalone policy
  • Windsurfer insured under a standalone policy
  • Moored craft

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

1. If you are insured with Vero you are generally eligible for up to a 10% multi-policy discount. Except for the portion of premium excluded under clauses 3 and 4 below, the discount is applied to the company premium and natural disaster premium for each of the Eligible Insured Assets.  The company and natural disaster premium will be displayed on your policy schedule.
2. The multi-policy discount does not apply to fees, levies or GST which may be charged on the premium for the Eligible Insured Assets. The multi-policy discount is applied to the premium before fees, levies or GST are added.
3. The multi-policy discount does not apply to premium charged for the Excess-free Windscreen and Window Glass Optional Additional Benefit. 
4. The multi-policy discount does not apply to premium charged for the Accidental Damage to Contents, Cover anywhere within New Zealand, or Replacement Value for Contents Optional Additional Benefits.
5. The multi-policy discount applies once the period of insurance for any Eligible Insured Asset overlaps with the period of insurance for at least one Qualifying Insured Asset.
6. The multi-policy discount applies to all Eligible Insured Assets from the time when the Qualifying Insured Asset is insured with Vero.
7. If you no longer have at least one Qualifying Insured Asset, you will no longer be eligible for a multi-policy discount on any Eligible Insured Assets. The multi-policy discount will be removed from the premium charged for any Eligible Insured Assets that remain insured with Vero at our discretion. The multi-policy discount may remain on the policy and only be removed at the next renewal for any remaining Eligible Insured Assets.
8. Where a policy for Eligible Insured Assets 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 Eligible Insured Asset, the multi-policy discount will be applied to the policy change and subsequent premium change.
9. The Qualifying Insured Assets and Eligible Insured Assets must all be insured as personal policies or as trust or business policies. A multi-policy discount does not apply where:
   1. one Qualifying Insured Asset or Eligible Insured Asset is insured under a personal policy and the other is insured under a trust or business policy; or
   2. one Qualifying Insured Asset or Eligible Insured Asset is insured under a trust policy and another under a business policy
10. 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 and the type of cover selected. Any discounts applied cannot reduce the premium for an Eligible Insured Asset to less than the Minimum Premium. This means that the multi-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 no claims discounts, staff discounts or other 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 multi-policy discount will not reduce the premium at all.

11. Vero reserves the right to remove a multi-policy discount where it discovers that you do not meet the Eligibility Criteria for the application of the multi-policy discount.  This includes where you have represented during the sales process that you have other Eligible Insured Assets.
12. Vero may alter these terms and conditions and the Eligibility Criteria which applies to multi-policy 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 multi-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 multi-policy discount.  This restriction does not apply to any rights you may have under consumer law.
13. Vero will take reasonable steps to ensure that a multi-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 multi-policy discount can be applied.  This may include contacting us to ensure that any Eligible Insured Assets are linked by Vero client number.  If you do not see a reference to a multi-policy discount on the policy schedule for each of your Eligible Insured Assets and believe you are eligible for multi-policy discount, you should contact us to check that your Eligible Insured Assets have been linked and the multi-policy discount is applied (where the criteria are met).
14. 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.
15. The multi-policy discount cannot be transferred or redeemed for cash.
16. These Multi-Policy Discount Terms and Conditions are additional to your policy terms and conditions, Vero’s Quote Terms and Conditions and the Terms of Use of the Vero Online Quote and Buy Platform.  Where there is a conflict between these terms and the terms of your insurance policy, the terms of the policy will prevail.
17. Vero will collect, hold, use and share personal information about you in connection with the multi-policy discount in line with our standard privacy statement and subject to the Privacy Act.

You will be eligible to receive a multi-policy discount on any Eligible Insured Assets if you meet all the following (“Eligibility Criteria”):

• You have insurance cover at least one Qualifying Insured Asset with Vero which are branded or co-branded VeroCIS; and
• The Qualifying Insured Asset(s) and any Eligible Insured Assets are:
  • Insured under the same policy; or
  • Insured under multiple policies and the policies have been linked by a matched Vero client number.
• You are not insured by one of the following schemes or facilities:
  • CCS – Classic Scheme
  • CMA – Crombie Lockwood Managing Agency
  • CPF – Commercial Placement Facility
  • IQS – AON Stylecover
  • OSR – Onesurance
  • PGG – PGG Wrightson AON
  • PGS – AON PGGW Staff
  • SUA – Star Underwriting Agents
  • PCM – PIC Motel Scheme
  • PIC – Personal Facility
• You exceed the Minimum Premium as outlined below in section 10.

Where the Eligibility Criteria are met, the following assets are eligible to be considered for a multi-policy discount (“Eligible Insured Assets”):

• Contents

Any other assets, including the following assets and commercial policies, are not eligible to be considered for a multi-policy discount, even if the Eligibility Criteria are met (“non-Eligible Insured Assets”):

• House*
• Cars
• Motorcycles
• Trailers
• Caravans
• Vintage cars (which have vintage/classic car conditions noted on the policy schedule)*
• Classic cars (which have vintage/classic car conditions noted on policy schedule)*
• Campervans
• Motorhomes
• Site Cover
• Transit Cover
• The following boat risks:
  • Trailered powerboat
  • Trailered sailboat
  • Trailered jetboat
  • Jet-ski
  • Canoe/kayak/dinghy insured under a standalone policy
  • Windsurfer insured under a standalone policy
  • Moored craft

*For Co-op Money customers with Contents insured, House is an Eligible Insured Asset.

*For Vintage Car Club customers with Vintage Cars or Classic Cars insured, please click here for the multi-policy discount terms and conditions that apply to insurance cover for Vintage Cars and Classic cars.

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

1. If you are insured with Vero through the VeroCIS brand you are generally eligible for up to a 10% multi-policy discount.  The discount is applied to the company premium and natural disaster premium for each of the Eligible Insured Assets.  The company and natural disaster premium will be displayed on your policy schedule.
2. The multi-policy discount does not apply to fees, levies or GST which may be charged on the premium for the Eligible Insured Assets.  The multi-policy discount is applied to the premium before fees, levies or GST are added.
3. The multi-policy discount does not apply to premium charged for the Excess-free Windscreen and Window Glass Optional Additional Benefit. 
4. The multi-policy discount does not apply to premium charged for the BasicPlan Extra Optional Additional Benefit.
5. The multi-policy discount applies once the period of insurance for any Eligible Insured Asset overlaps with the period of insurance for at least one Qualifying Insured Asset.
6. The multi-policy discount applies to all Eligible Insured Assets from the time when the Qualifying Insured Asset is insured with Vero.
7. If you no longer have at least one Qualifying Insured Asset, you will no longer be eligible for a multi-policy discount on any Eligible Insured Assets.  The multi-policy discount will be removed from the premium charged for any Eligible Insured Assets that remain insured with Vero at our discretion. The multi-policy discount may remain on the policy and only be removed at the next renewal for any remaining Eligible Insured Assets.
8. Where a policy for Eligible Insured Assets 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 Eligible Insured Asset, the multi-policy discount will be applied to the policy change and subsequent premium change.
9. The two or more Qualifying Insured Assets must all be insured as personal policies or as trust or business policies.  A multi-policy discount does not apply where:
   1. one Qualifying Insured Asset is insured under a personal policy and the other is insured under a trust or business policy; or
   2. one Qualifying Insured Asset is insured under a trust policy and another under a business policy.
10. 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 and the type of cover selected.  Any discounts applied cannot reduce the premium for an Eligible Insured Asset to less than the Minimum Premium.  This means that the multi-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 no claims discounts, staff discounts or other 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 multi-policy discount will not reduce the premium at all.

11. Vero reserves the right to remove a multi-policy discount where it discovers that you do not meet the Eligibility Criteria for the application of the multi-policy discount. This includes where you have represented during the sales process that you have other Eligible Insured Assets.
12. Vero may alter these terms and conditions and the Eligibility Criteria which applies to multi-policy 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 multi-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 multi-policy discount.  This restriction does not apply to any rights you may have under consumer law.
13. Vero will take reasonable steps to ensure that a multi-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 multi-policy discount can be applied.  This may include contacting us to ensure that any Eligible Insured Assets are linked by Vero client number.  If you do not see a reference to a multi-policy discount on the policy schedule for each of your Eligible Insured Assets and believe you are eligible for multi-policy discount, you should contact us to check that your Eligible Insured Assets have been linked and the multi-policy discount is applied (where the criteria are met).
14. 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.
15. The multi-policy discount cannot be transferred or redeemed for cash.
16. These Multi-Policy Discount Terms and Conditions are additional to your policy terms and conditions, Vero’s Quote Terms and Conditions.  Where there is a conflict between these terms and the terms of your insurance policy, the terms of the policy will prevail.
17. Vero will collect, hold, use and share personal information about you in connection with the multi-policy discount in line with our standard privacy statement and subject to the Privacy Act.

You will be eligible to receive a multi-policy discount on any Eligible Insured Assets if you meet all the following (“Eligibility Criteria”):

• You have insurance cover for at least one Qualifying Insured Asset with Vero which are sold via Vintage Car Club of New Zealand; and
• The Qualifying Insured Asset(s) are:
  • Insured under the same policy; or
  • Insured under multiple policies and the policies have been linked by a matched Vero client number.
• You have met the Minimum Premium as outlined below in section 9.

Where the Eligibility Criteria are met, the following assets are eligible to be considered for a multi-policy discount (“Eligible Insured Assets”), if they meet the additional criteria below:

• Cars which:
  • Have vintage/classic car conditions noted on the policy schedule; and
  • are not shown as 'VCC Storage & Restoration'.
    
• Motorcycles which:
  • Have vintage/classic conditions noted on the policy schedule; and
  • are not shown as 'VCC Storage & Restoration'.

Eligible Insured Assets must also meet all the following criteria:

• Be older than 30 years old.
• Have ‘private’, ‘vintage’, or ‘classic’ noted on the policy schedule as the vehicle’s use.
• Have a sum insured under $100,000.
• Not have the highest vehicle sum insured under a client number.

Any other assets, including the following assets and commercial policies, are not eligible to be considered for a multi-policy discount, even if the Eligibility Criteria are met (“non-Eligible Insured Assets”):

• House
• Contents
• Car (excluding vintage/classic cars which have conditions noted on the policy schedule)
• Motorcycles (excluding vintage/classic motorcycles which have conditions noted on the policy schedule)
• Trailers
• Caravans
• Campervans
• Motorhomes
• Site Cover
• Transit Cover
• The following boat risks:
  • Trailered powerboat
  • Trailered sailboat
  • Trailered jetboat
  • Jet-ski
  • Canoe/kayak/dinghy insured under a standalone policy
  • Windsurfer insured under a standalone policy
  • Moored craft

The following assets qualify an Eligible Insured Asset to be considered for a multi-policy discount (“Qualifying Insured Assets”):

• Eligible Insured Assets
• Assets that would be considered Eligible Insured Assets if they didn’t have one or both of the following attributes:
  • The schedule shows the vehicle as ‘VCC Storage & Restoration'
  • The highest vehicle sum insured under a client number.
  • The sum insured is over $100,000.

No other assets qualify Eligible Insured Assets to be considered for a multi-policy discount.

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

1. If you are insured with Vero through the Vintage Car Club of New Zealand, you are generally eligible for up to a 30% multi-policy discount.  The discount is applied to the company premium for each of the Eligible Insured Assets.  The company premium will be displayed on your policy schedule.
2. The multi-policy discount does not apply to fees, levies or GST which may be charged on the premium for the Eligible Insured Assets.  The multi-policy discount is applied to the premium before fees, levies or GST are added.
3. The multi-policy discount does not apply to premium charged for the Excess-free Windscreen and Window Glass Optional Additional Benefit. 
4. The multi-policy discount applies once the period of insurance for two or more Qualifying Insured Assets overlaps.
5. The multi-policy discount applies to all Eligible Insured Assets from the time when the second Qualifying Insured Asset is insured with Vero.
6. If you no longer have two or more Qualifying Insured Assets, you will no longer be eligible for a multi-policy discount.  The multi-policy discount will be removed from the premium charged for the any Eligible Insured Assets that remain insured with Vero at our discretion. The multi-policy discount may remain on the policy and only be removed at the next renewal for any remaining Eligible Insured Assets.
7. Where a policy for Eligible Insured Assets 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 Eligible Insured Asset, the multi-policy discount will be applied to the policy change and subsequent premium change.
8. The two or more Qualifying Insured Assets must all be insured as personal policies or as trust or business policies.  A multi-policy discount does not apply where:
   1. one Qualifying Insured Asset is insured under a personal policy and the other is insured under a trust or business policy; or
   2. one Qualifying Insured Asset is insured under a trust policy and another under a business policy.
9. 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 and the type of cover selected.  Any discounts applied cannot reduce the premium for an Eligible Insured Asset to less than the Minimum Premium.  This means that the multi-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 no claims discounts, staff discounts or other 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 multi-policy discount will not reduce the premium at all.

10. Vero reserves the right to remove a multi-policy discount where it discovers that you do not meet the Eligibility Criteria for the application of the multi-policy discount.  This includes where you have represented during the sales process that you have other Eligible Insured Assets or Qualifying Insured Assets.
11. Vero may alter these terms and conditions and the Eligibility Criteria which applies to multi-policy discounts, including whether a particular asset type is an Eligible Insured Asset or Qualifying 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 multi-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 multi-policy discount.  This restriction does not apply to any rights you may have under consumer law.
12. Vero will take reasonable steps to ensure that a multi-policy discount is applied to policies covering Eligible Insured Assets.  However, you should ensure that we are advised about policies for Eligible Insured Assets and Qualifying Insured Assets so that a multi-policy discount can be applied.  This may include contacting us to ensure that any Eligible Insured Assets and Qualifying Insured Assets are linked by Vero client number.  If you do not see a reference to a multi-policy discount on the policy schedule for each of your Eligible Insured Assets and believe you are eligible for multi-policy discount, you should contact us to check that your Eligible Insured Assets and Qualifying Insured Assets have been linked and the multi-policy discount is applied (where the criteria are met).
13. 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 or Qualifying Insured Assets which are incorrect.
14. The multi-policy discount cannot be transferred or redeemed for cash.
15. These Multi-Policy Discount Terms and Conditions are additional to your policy terms and conditions, Vero’s Quote Terms and Conditions.  Where there is a conflict between these terms and the terms of your insurance policy, the terms of the policy will prevail.
16. Vero will collect, hold, use and share personal information about you in connection with the multi-policy discount in line with our standard privacy statement and subject to the Privacy Act.