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 for home damage from events like earthquakes, tsunamis, and landslides.
Your private insurer manages the claim and covers costs exceeding the NHC cap. Importantly, damage to your home from floods or storms is covered by your private policy, not the NHC, which only provides limited land cover.
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?
Looking to find a home worth insuring?
Check out the wide range of homes currently listed on Trade Me Property.
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