Buying guide
Does home insurance cover natural disasters?
It’s worth getting your head around this stuff.
.png)
AI summary
In New Zealand, home insurance includes a mandatory Natural Hazards Insurance (NHI) levy paid to the Natural Hazards Commission Toka Tū Ake (NHC).
The NHC covers the first $300,000 + GST of repair costs for disasters like earthquakes and tsunamis. Your private insurer covers costs exceeding this cap.
Importantly, flood or storm damage to your home is covered by your private policy, not the NHC, though the NHC provides limited land cover for these events.
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?
Author
Discover More
Once upon a listing: three fairytale homes currently for sale
Discover three unique, fairytale-inspired properties currently listed on Trade Me Property.
A French couple found their ‘little world’ in NZ. Now they’re reluctantly leaving it
A French couple are reluctantly selling their dream home near Warkworth after a decade of family memories.
Search
Other articles you might like
