Annual Payment - a one-off payment in advance to cover one 12 month period of insurance.

Annual Policy - all insurance policies, even when paid by monthly installments, are annual policies and cover you for a full 12 months unless cancelled by either party under our standard cancellation terms.

Certificate of Insurance - the document that contains the terms and conditions under which you and/or your equipment is insured. See also policy wording. 

Commencement Date - the date that the policy starts.

Duty of Disclosure - this is any piece of information that might affect our decision to provide you with insurance. You are obliged to advise us of any material facts, such as convictions for fraud, theft or dishonesty, prior claims or events, or any special terms or conditions that have been applied by previous insurers. If facts come to light once your policy has started, we have the right to refuse payment for all or part of any claim you may make.

Equipment Insurance - this provides cover if any specified item is lost, damaged or destroyed by an accidental event or burglary, which happens anywhere within the geographical limits as selected.

Evidence of Ownership - to pay out for an insurance claim, we need to be certain that you were/are the owner of the insured items. Evidence can be shown by, for example, an original receipt clearly showing the item and date of purchase. Alternative evidence can include a bank or credit card statement, photographs, a copy receipt from the retailer, packaging or literature.

Excess - this is the amount of money that you contribute towards the cost of a claim.

Forcible and Violent Entry - entry to a property that clearly shows damage to the lock, building, room or vehicle, caused as a direct result of theft.

Hire of Equipment - if your equipment is stolen or damaged we will pay for the hire of similar equipment up to 20% of the sum insured whilst yours is awaiting repair or replacement (subject to an approved claim).

In Vehicle - this covers your equipment whilst locked in a locked vehicle. Please note that there is NO cover for loss or damage to equipment from an unoccupied locked vehicle where the property has been left unattended in a vehicle overnight (from 12pm midnight to 6:00am). 

Insured location - this is a single, specified place where you store your equipment, typically your home, studio or work place/site.

Laptop - means portable laptop computers, notebooks, and their accessories, including adaptors, cards, cases, data storage devices, networking accessories, docking stations, security devices and webcams.

Locked luggage compartment - this can be:
• A locked car boot
• A locked rear storage area of a hatch-back, four wheel drive, MPV, SUV or estate car, subject to a factory fitted cover being in place (where the cover is not available, items must be kept out of sight)
• A locked rigid bodied van, mini bus or camper van providing the windows have been obscured and providing any items are in a compartment of the vehicle that is not accessible from the driver area or, where the compartment is not accessible, kept out of sight.
• A rigid body fully enclosed trailer attached to a vehicle by a shackle bolt. 

Negligence Insurance - Compensation payable to other parties for inadvertent Negligent Acts such as Misstatement, Misrepresentation, Infringement of Intellectual Property Rights i.e. Copyright, Patent, Trademark, Moral Rights, Defamation or Dishonesty of Partners, Directors, Employees or Freelancers contracted to you and under your direct supervision. 

Period of insurance - the length of time for which you are covered, all insurance policies run for a period of 12 months even when being paid by monthly installments. 

Policy Wording and/or Product Disclosure Statement - these documents set out in full, the terms and conditions of your insurance cover. It is essential that you read the wording and comply with any terms and conditions it sets out.

Much of the information provided on this site is for guidance, only the relevant policy wording can be taken as a binding contract.

Premium - the amount you pay to provide annual insurance cover.

Professional Indemnity - this provides cover so that in the event that you find yourself in a dispute with a client, your professional indemnity cover will pay the cost of defending any allegations or claims made against you for negligence or breach of duty of care (for example, loss or destruction of film or digital storage media).

Property - means buildings and personal items, such as a laptop, table, tool box, camera and any other items of property you wish to insure. 

Public Liability - This provides cover for all compensation you become legally liable to pay arising from bodily injury and/or property damage to other parties which happens in connection with your business resulting from your or your employees’ negligence.

Replacement Value - this is the price an item would normally cost new in a store including GST rather than a specially discounted or sale price. For vintage and rare equipment you should obtain a specific valuation. The valuation should be from a reputable source and not more than 12 months before your commencement date. It is advisable to obtain a new valuation at least every three years, to take into account any market changes in value during the period.

Serial Number - the unique code that identifies that item of equipment. It is essential that we have the serial number for any item valued over $500. You do not need to have the number in order to apply for cover, but the serial number (and proof that it relates to the item insured) will be required in the event of a claim.

Specified Items - we need you to identify any individual items over $500 in value. These are your ‘specified items’, all other items are added as an overall value under unspecified items. 

Sum Insured - this is the total value of your equipment.

Terms of Business - the basis on which you do business with us. 

Unattended - whilst the equipment is not being held or used by you or a responsible adult, the items must be kept in a locked room or cupboard or in a locked luggage compartment. 

Unspecified Items - to save you time, we do not require details of items less than the total value of $500, so we only ask that you give us a total amount to cover these items. These items must be under $500 in value.

Us/We – means InsuranzDirect.co.nz.

You/Yours – means you and/or the insured persons under the Policy.