AA Insurance supports call for Christchurch residents to get payout advice

The New Zealand Law Society has urged Christchurch residents making insurance claims for earthquake-damaged or destroyed homes to get legal advice before accepting a cash payout.

AA Insurance supports this call.

“We agree you should seek advice before accepting a cash settlement, it’s a decision that has real consequences,” says Suzanne Wolton, Head of Corporate affairs, AA Insurance. “It is hard enough losing your house in traumatic circumstance, but many Christchurch home-owners are now working through some big financial decisions.

“Our advice is, make sure your choice is an informed one. Unlike when you are dealing with a car payout, a house payout takes more time to work through because it is usually one of your most valuable assets. You need to make sure that a cash payout is the right option for you. It is right that people should seek advice and carefully consider what is right for them personally before coming to a decision,” says Suzanne.

“And when the time is right to renew the insurance on your home, make sure you are with a financially strong insurer which has the ability to pay your claims if the worst happens. Shop around for benefits, price and most importantly financial peace of mind, because there are no short cuts with insurance. Satisfy yourself that the company will be around to cover you when you need them.”