Home Insurance

Your home is one of your most valuable assets. It’s vital to have the right insurance cover to protect you financially and provide peace of mind should the unthinkable happen. Your home may be a holiday home, lifestyle block or rental property.

Setting your sum insured

• Your sum insured is a dollar value representing the maximum amount the insurer will pay if your home is damaged or destroyed; considering inflation, demolition costs and outbuildings.
• Your sum insured should be set at what it would cost to rebuild your home to the size and standard it originally was (just prior to the loss), not the market or rateable value.
• It’s a good idea to review your sum insured annually. Any changes impacting your rebuild costs, such as inflation on building materials and renovations, can be added to your policy in real time.

To help set the right sum insured for your home, use this free online calculator or contact a registered valuer or quantity surveyor. Please contact your broker to discuss other options. 

Natural Disaster Sum Insured

• The Earthquake Commission (EQC) cover provides natural disaster* insurance for residential homes and some of your land. You automatically have EQC cover if you have a current private insurance policy for your home (including fire insurance).
• The EQC provides cover up to $300,000 for damage to your home caused by natural disasters (known as the EQC cap).

*Natural disasters that EQC cover: Earthquake, natural landslip, volcanic eruption, hydrothermal activity and a tsunami.