Buying guide
Does home insurance cover natural disasters?
It’s worth getting your head around this stuff.
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AI summary
In New Zealand, home insurance includes a mandatory Natural Hazards Insurance (NHI) levy. This is managed by the Natural Hazards Commission Toka Tū Ake (NHC) and provides cover for the first $300,000 + GST of damage to your home from disasters like earthquakes and tsunamis.
Your private insurer handles the claim and covers costs exceeding the NHC cap, up to your policy limit. Crucially, the NHC does not cover your home for flood or storm damage; this falls to your private policy.
What do we mean by “natural disasters” in the context of home insurance?
Natural disasters are many homeowners' worst nightmares.
Understanding home insurance and natural disasters: The Natural Hazards Insurance Levy (NHI)
What if the damage is more than $300,000?
Flooding can be a bit of a special case when it comes to home insuance.
What about insuring my land against natural disasters?
What about flooding or a storm?
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