Everyday insurance

To file a claim for Purchase Protection Insurance or Mobile Phone Protection Insurance, log on to nz.mycardbenefits.com, contact AIG by emailing APAC.Mastercard@aig.com, or call the AIG Customer Service team on 0800 231 234 between 8.30am and 5pm Monday to Friday (except public holidays). Please email all claims correspondence and details required to AIG at APAC.Mastercard@aig.com.

a) To file a claim for Price Protection Insurance, contact AIG within 5 days of the printed advertisement or the in-store printed promotion or no-auction internet advertisement. You can log on to nz.mycardbenefits.com or contact AIG by sending an email to APAC.Mastercard@aig.com or calling the AIG Customer Service team on 0800 231 234 between 8.30am and 5pm Monday to Friday (except public holidays).
b) Ensure your claim is submitted within 30 days of your original purchase. Failure to give notice within the time stated above may result in your claim not being accepted.
c) Maintain and forward, when requested, copies of all relevant purchase receipts and other documents as well as detailed particulars and proof of your loss as AIG may require.
d) Disclose to AIG details of any other insurance cover under which you are entitled to claim.
e) Cooperate and provide AIG with all necessary information and assistance to institute proceedings against other parties for the purpose of enforcing any rights or remedies to which AIG shall or would become entitled or subrogated upon AIG making payment or making good any loss or damage under this cover.

AIG will endeavor to process your claim within 7-9 business days after you have submitted all the documents required.

The AIG claims team will send you an email after the claim is registered, and when the claim is settled, denied, or if AIG needs more information.

However, if you have any questions or want to follow up on the claim status, please contact the AIG Customer Service team on 0800 231 234 between 8.30am and 5pm Monday to Friday (except public holidays).

Purchase Protection Insurance provides you 180 consecutive days of cover against theft or accidental damage over certain new personal items that you purchase with your eligible card.

From the date the goods are purchased.

There is a limit per claim of NZ$675.

The limit for all claims combined in any 12-month period is NZ$675.

No excess is payable.

There is no additional charge or premium for this insurance for TSB Platinum Mastercard or TSB Low Rate Mastercard customers.

Please refer to the TSB Credit Mastercard Insurance Terms and Conditions for a complete list of what is not covered by Purchase Protection Insurance.

Give written notice to the police as soon as reasonably practicable after goods are stolen, and promptly obtain and provide us with a police report and/or crime number. This must be done within 24 hours starting from when the goods were stolen. The report must list and describe the missing goods and a copy of this report must be obtained.

AIG may pay the reasonable costs to repair, rebuild, replace or reinstate damaged or stolen goods or pay cash for the goods subject to the other terms and conditions and limits for this cover.

You must ensure that your claim is submitted within 30 days of the theft or accidental damage. Failure to give notice within 30 days may result in your claim not being accepted.

Yes, it will help if you need to file a claim. AIG will need copies of your TSB Platinum Mastercard or TSB Low Rate Mastercard statement showing purchase of the item and documents showing proof of your theft or damage.

Price Protection Insurance will reimburse you, for the price difference between the original price of the item you purchased with your TSB Platinum Mastercard or TSB Low Rate Mastercard and the lower price for the exact same item as shown in a printed advertisement, in-store printed promotion or no-auction internet advertisement published within thirty (30) days of your original purchase, subject to the following limits:

Limit per claim: NZ$500
Limit for all claims combined in any 12-month period: NZ$1,000

No excess is payable.

There is no additional charge or premium for this insurance for TSB Platinum Mastercard or TSB Low Rate Mastercard customers.

AIG will only cover the eligible cardholder under the following conditions:

a) The item must be paid entirely with the eligible card.
b) Purchase can be made in-store or from online retailers.
c) The price difference must be for items offered within same channel (i.e., in-store or online) as your original purchase. If your original purchase was in-store, you cannot claim for a lower price offered online, or vice versa.
d) The lower price must be in a printed advertisement, in-store printed promotion or no-auction internet advertisement.
e) The lower price must be from a retailer that operates in the same city or region where your original purchase is made.
f) The printed advertisement, in-store printed promotion or no-auction internet advertisement must be published within 30 days of your original purchase.

Please refer to the TSB Credit Mastercard Insurance Terms and Conditions for a complete list of what is not covered by Price Protection Insurance.

You must contact AIG within 5 days of the printed advertisement or the in-store printed promotion or no-auction internet advertisement.

You must ensure that your claim is submitted within 30 days of your original purchase. Failure to give notice within 30 days may result in your claim not being accepted.

Yes, it will help if you need to file a claim. AIG will need copies of your TSB Platinum Mastercard or TSB Low Rate Mastercard statement showing purchase of the item and AIG will need a copy of the printed advertisement, in-store printed promotion or no-auction internet advertisement showing the lower priced item.

To file a claim, contact AIG within 5 days of the printed advertisement or the in-store printed promotion or no-auction internet advertisement. You can log on to nz.mycardbenefits.com or contact AIG by sending an email to APAC.Mastercard@aig.com or calling the AIG Customer Service team on 0800 231 234 between 8.30am and 5pm Monday to Friday (except public holidays).

Ensure your claim is submitted within 30 days of your original purchase. Failure to give notice within the time stated above may result in your claim not being accepted.

Maintain and forward, when requested, copies of all relevant purchase receipts and other documents as well as detailed particulars and proof of your loss as AIG may require.

Disclose to AIG details of any other insurance cover under which you are entitled to claim.

Cooperate and provide AIG with all necessary information and assistance to institute proceedings against other parties for the purpose of enforcing any rights or remedies to which AIG shall or would become entitled or subrogated upon AIG making payment or making good any loss or damage under this cover.

You may call the AIG Customer Service team on 0800 231 234 between 8.30am and 5pm Monday to Friday (except public holidays).

Mobile Phone Protection Insurance reimburses you, for accidental damage to, or theft of an eligible mobile phone if you pay your postpaid monthly bill or prepaid top up using your TSB Platinum Mastercard or TSB Low Rate Mastercard.

This benefit is supplemental coverage, which means that AIG will reimburse you for eligible mobile phone accidental damage or theft which is not covered by other insurance policies you may have.

You will be reimbursed for the lesser of the following amounts:

1. the actual cost to repair or replace your eligible mobile phone after deducting the excess amount NZ$55; or
2. NZ$800,

provided that AIG will not pay more than NZ$1,350 in any 12 month period.

• This protection provides benefits only to eligible cardholders.
• You must pay your Monthly Mobile Plan bill using your TSB Platinum Mastercard or TSB Low Rate Mastercard.
• To avoid suspension of coverage, you must pay your monthly mobile plan bill on time.
• If a claim is in any respect fraudulent, all benefits in respect of such claim shall be forfeited.

Any type of mobile phone is covered, provided that it is associated with you as the eligible cardholder and the monthly prepaid account or top up account is paid for with your TSB Platinum Mastercard or TSB Low Rate Mastercard. Tablets are not covered.

You do not need to register to obtain this insurance. You are automatically covered as long as you meet the eligibility criteria.

There is no additional charge or premium for this insurance for TSB Platinum Mastercard or TSB Low Rate Mastercard customers.

The cover begins on the first day of the calendar month following the payment of your postpaid monthly mobile phone bill or prepaid top-up using your TSB Platinum Mastercard or TSB Low Rate Mastercard. Coverage will be valid until last day of the calendar month following the payment of your postpaid monthly mobile phone bill or prepaid top-up using your TSB Platinum Mastercard or TSB Low Rate Mastercard.

Your cover will be suspended on the first day of the following calendar month if you fail to make an eligible mobile phone postpaid bill payment or prepaid top-up using your TSB Platinum Mastercard or TSB Low Rate Mastercard while cover is in effect in the previous month. If this cover is suspended, coverage will resume after a fifteen (15) day waiting period following the date of any future eligible mobile phone postpaid bill payment or prepaid top-up using your eligible card.

For example:

• You pay the April bill for your Monthly Mobile Plan on 20 April 2023:
  The Coverage will start on 1 May 2023 for one calendar month and last until 31 May 2023
• You forgot to pay the June bill for your Monthly Mobile Plan on 20 June 2023:
  The Coverage will suspend from 1 July 2023
• You pay the June bill for your Monthly Mobile Plan on 10 July 2023:
  The Coverage will resume on 1 August 2023 for one calendar month and last until 31 August 2023
• You pay the June bill for your Monthly Mobile Plan on 31st July 2023:
  The Coverage will resume on 15 August 2023 (after a 15 day waiting period) and last until 15th September 2023

Please refer to the TSB Credit Mastercard Insurance Terms and Conditions for a complete list of what not is covered by Mobile Phone Protection Insurance.

Yes, it will help if you need to file a claim. AIG will need copies of your TSB Platinum Mastercard or TSB Low Rate Mastercard statement, reflecting your monthly mobile plan bill payments during the time of the damage or theft, receipt or invoice of the monthly mobile plan bill payment and a copy of your store receipt if you purchased your eligible mobile phone recently.

Make sure you send the following documents with your completed claim form to ensure faster claims processing:

1. Completed online claim form;
2. Copies of your TSB Platinum Mastercard or TSB Low Rate Mastercard statement reflecting your monthly mobile plan bill payment was made the month prior to the date of damage or theft;
3. If available, a copy of the original eligible mobile phone purchase receipt or other sufficient proof of the eligible mobile phone model currently linked to your eligible mobile phone account;
4. If you have an existing insurance from the mobile operator, a copy of the insurance claim to the eligible cardholder’s mobile phone insurance, or in the event that the claim amount is less than the eligible cardholder’s deductible, a copy of the policy’s declarations page;
5. If a claim is due to accidental damage, a copy of the repair estimate and photos of the accidental damage. AIG may also require you to send in the damaged eligible mobile phone(s), at your expense, for further evaluation of your claim; and
6. If the claim is due to theft, a copy of the police report filed within forty-eight (48) hours of the theft.

Depending on the nature and circumstances of the accidental damage or theft, AIG may choose to reimburse the cost of repair or the cost to replace your mobile phone up to the per occurrence limit amount stated on the summary of cover, whichever is lesser. For example:

a) Repair cost up to NZ$800 after deducting the excess amount of the NZ$55; or
b) The current suggested retail price of a similar quality replacement mobile phone (including taxes, delivery and transportation charges or fees associated with the service provider) up to NZ$800 after deducting the excess amount of the NZ$55.

AIG cover all cardholders who have been issued an eligible card, including additional cardholders on the same account as long as they meet the eligibility criteria. However, they will need to pay the mobile phone bill using their TSB Platinum Mastercard or TSB Low Rate Mastercard.

¹Mobile Phone Insurance, Purchase Protection Insurance and Price Protection Insurance, are underwritten by AIG Insurance New Zealand Limited (“AIG”). AIG, TSB or Mastercard do not provide financial advice about the insurance. TSB Credit Mastercard® Insurance Terms and Conditions sets out the details of what is covered, claims limits, what is not covered, and eligibility to help you determine if the insurance is right for you.

The Insurance (Prudential Supervision) Act 2010 requires licensed insurers to have a current financial strength rating that is given by an approved rating agency. AIG Insurance New Zealand Limited has an A (Strong) insurer financial strength rating given by Standard & Poor’s (Australia) Pty Ltd. The rating scale, in summary form is:

   AAA Extremely Strong 
   AA Very Strong 
   A Strong 
   BBB Good 
   BB Marginal 
   B Weak 
   CCC Very Weak 
   CC Extremely weak 
   C Regulatory Action 
   SD Selective Default 
   D Default 
   NR Not Rated 

The rating from 'AA' to 'CCC' may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the major rating categories. A full description of the rating scale is available on Standard & Poor’s website.

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