Insurance advisory as response to the Timaru hailstorm continues
As the recovery effort in the wake of the unprecedented November Timaru hailstorm continues, the insurance industry is
advising people considering buying hail damaged vehicles to be well informed.
With thousands of vehicles damaged in the storm, the industry is making good progress assessing those vehicles and
either repairing them or deeming them uneconomic to repair.
Tim Grafton, Chief Executive Insurance Council of New Zealand, says that with a large number of hail damaged vehicles
being sold through a variety of channels over the coming months, potential buyers must be well informed.
"It is important that anyone looking to purchase one of these vehicles knows what they are buying. While damage may not
be structural, all will have significant hail damage. We advise people to complete their due diligence and understand
exactly what they are buying, especially if they are unable to inspect the vehicle prior to purchasing it.
ICNZ urges buyers to ensure that if they intend using those vehicles on the road, rather than for parts or for some
other reason, that they purchase insurance.
"We encourage people to discuss this with their insurer before purchasing to ascertain what type of cover may be
available to them, what the premium might be and if any special terms or conditions may apply to prevent any nasty
surprises should the need to claim in the future.
"Insurance policies don’t provide cover for existing damage, so they will need to disclose the hail damage to their
insurer.
"Similarly, if they repair any damage, they will need to inform their insurer so the car can be appropriately insured,"
says Mr Grafton.
ICNZ encourages people affected to contact their insurance company or authorised insurance broker as soon as they can
for arrangements to be made to assess the damage or losses and progress claims.
ENDS