Tuners Auctions has entered into a three year contract renewal with IAG New Zealand, the country’s largest general insurer.

The newly signed pact will cover the management and disposal of all written-off vehicles, trucks, personal property, plant and machinery.

IAG expects selling 12,000 – 13,000 vehicles and assets each year under the contract. It consigns the vehicles to Turners Auctions that in turn, sells them at damaged vehicle auctions.

The previous contract between Turners Auctions and IAG, that owns brands such as State Insurance and NZI, was also for three years.