WHEN THE WORLD FALLS APART, YOURS WON’T.
Our promise – at Summerset you will always have a home, even if a natural disaster destroys your village.
In the wake of the Christchurch earthquake, we have undertaken a complete review of our disaster policy.
Initially we were prompted by the plight of retirement village residents left homeless. However, we were also prompted by a broader longstanding commitment to provide absolute certainty to our residents and their families.
Since our review we have given our residents this undertaking:
Following a disaster if your home is unable to be repaired or rebuilt on the same site, or in reasonable proximity, Summerset will pay you the market value of your home. This will be the value of your home at the time of the disaster with no deduction.
Typically, other villages will only pay residents the original purchase price, or maybe insurance proceeds. For a long standing resident the original purchase price may be a signifi cant amount less than the current cost of a comparable dwelling. And in the case of receiving insurance proceeds there is no certainty as to how much this will be. They may well be less than the cost of purchasing a new home elsewhere.
At Summerset we believe you deserve more. It is always our intention to repair or rebuild your home, but if we are unable to, our commitment to you means you will have suffi cient funds to be able to buy a new home worth the same as your current one.
This resolution goes beyond the changes being considered for the Code of Practice. But for Summerset nothing less will do.
That’s why our residents can be sure – as we put it, Summerset Sure.
To read more about this policy, click here.
