What Does Buildings
Insurance Cover?
Everything you need to know about NZ buildings insurance coverage — tiers, inclusions, exclusions, and how EQC fits in.
Choose Your Coverage Level
Select the sum insured that matches your home's rebuild cost
Starter
$300K
$150–$300/yr / year
Entry-level cover aligned with EQC threshold
e.g. One-bedroom apartment in Auckland
Get a QuoteStandard
$500K
$250–$500/yr / year
Average New Zealand home protection
e.g. Average 3-bed suburban home
Get a QuotePopular
$750K
$400–$700/yr / year
Most popular coverage level for mid-range homes
e.g. Modern 4-bed family home
Get a QuoteEnhanced
$1M
$600–$900/yr / year
Comprehensive protection for larger homes
e.g. Large 5+ bed executive home
Get a QuotePremium
$2M+
$1,200–$2,000+/yr / year
Full protection for high-value properties
e.g. Multi-million dollar waterfront property
Get a QuoteWhat's Covered in Your Policy
Detailed breakdown of coverage categories and protection limits
Natural Disaster
Protection against natural disasters common in New Zealand — the most critical cover for NZ homeowners.
- Earthquake damage
- Flood damage
- Storm & wind damage
- Volcanic activity
Limit: Up to sum insured (less excess)
Fire & Explosion
Comprehensive cover for fire-related damage and explosions, including associated smoke and water damage from firefighting.
- Fire damage
- Explosion damage
- Lightning strike
- Smoke damage
Limit: Up to sum insured (less excess)
Water Damage
Cover for unintentional water damage from burst pipes, leaking roofs, and drainage issues.
- Burst pipes
- Overflowing gutters
- Blocked drains
- Water leaks
Limit: Up to sum insured (less excess)
Theft & Vandalism
Protection against criminal damage to your building, including break-in repairs and vandalism.
- Break-ins and theft
- Vandalism damage
- Malicious damage
- Forced entry damage
Limit: Up to sum insured (less excess)
Temporary Accommodation
While your home is being repaired, temporary accommodation and living costs are covered.
- Temporary housing costs
- Accommodation expenses
- Related living costs
Limit: Typically 10–20% of sum insured
Landlord Protection
Specialised coverage for landlords including loss of rental income if the property becomes uninhabitable.
- Loss of rental income
- Tenant default
- Legal liability
- Landlord protection
Limit: Typically 12 months rent
Legal Costs
Cover for legal costs associated with claims, disputes, and building-related legal matters.
- Legal defence costs
- Recovery costs
- Dispute resolution
- Professional fees
Limit: Typically $10K–$25K
Gradual Damage (Optional)
Optional add-on cover for gradual damage — not usually included in standard policies but available on request.
- Wear and tear
- Weathering
- Gradual subsidence
- Slow deterioration
Limit: Depends on add-on selected
What's NOT Covered
Know your exclusions before you need to make a claim
General Wear and Tear
Damage from everyday use, aging, and normal deterioration is not covered.
Deliberate Damage
Intentional damage caused by you or someone acting with your permission is excluded.
Pre-Existing Damage
Damage that existed before the policy was issued or known at the time of application.
Unoccupied Property (60+ days)
Extended unoccupancy may void or limit coverage unless declared to your insurer.
Illegal Activity
Damage resulting from criminal activity you're involved in or that occurs on your property illegally.
Gradual Land Movement
Gradual subsidence, landslip, or ground movement unless specifically added as an optional extra.
Tip: Always read the full policy wording before purchasing. Your licensed adviser will walk you through exactly what is and isn't covered for your specific property — ask us for a plain-English explanation when we call.
What Affects Your Premium
The key factors that drive your annual insurance cost
Location / Earthquake Zone
High-risk areas (e.g., Wellington, Christchurch) have significantly higher premiums.
Building Age & Materials
Older buildings or certain materials (unreinforced masonry) cost more to insure.
Sum Insured / Rebuild Cost
Higher coverage amounts naturally result in higher premiums.
Claims History
Multiple claims increase risk and premiums; a clean history reduces cost.
Security Features
Alarms, locks, and security systems can reduce your premium by 5–15%.
Excess Level Chosen
A higher excess (your contribution per claim) lowers the annual premium significantly.
Understanding EQC Cover
How the Earthquake Commission works alongside your private insurance
What EQC Covers
The Earthquake Commission (Toka Tū Ake EQC) covers natural disasters up to $300,000 plus GST.
- Earthquake, volcanic eruption, landslide, hydrothermal activity
- Covers residential land and buildings
- $300K + GST cap per event
- Applies to most homeowners and some landlords
EQC + Private Insurance
EQC and private insurance work in layers to give you comprehensive protection.
- EQC covers up to $300K + GST; private insurer covers above that
- EQC is the first responder; private insurer handles the excess
- You claim on both policies separately
- No coverage gap when policies are correctly aligned
Recent EQC Changes
EQC has undergone significant reforms that all homeowners should know about.
- Now covers all natural hazard events (not just earthquake)
- Increased focus on insurable interest and residential-only cover
- Changes to claim processes and assessment timelines
- New opt-out arrangements for some property owners
Filing an EQC Claim
Step-by-step process for lodging a claim with the Earthquake Commission.
- Report damage within 3 months of the event
- Gather documentation and photos of damage
- Complete EQC claim form online or by phone (0800 326 243)
- EQC will assess and respond within set timeframes
Check Your EQC Eligibility
EQC cover is automatic for residential properties but has changed significantly in recent years. Some property owners may be able to opt out. Check your eligibility at eqc.govt.nz or discuss with your adviser.
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