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 paid to the Natural Hazards Commission Toka Tū Ake (NHC), which covers the first $300,000 + GST of damage to your home from disasters like earthquakes and volcanic activity.
Your private insurer covers costs exceeding this cap and damage from floods or storms. The NHC also provides limited land cover. Note that the NHC replaced the EQC for claims from 1 July 2024.
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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