New Zealand homeowners insurance Archives

Homeowners insurance policy changes on the way in New Zealand

March 26, 2013March 25, 2013 H. Cutner

Policyholders are being cautioned that they should learn about these changes to ensure that they are properly covered. Officials in New Zealand are warning homeowners insurance policyholders that there are some major changes on the way, and that they will likely be placing the liability for correct valuations on the back of the property owners. This announcement was from the Insurance Council of New Zealand, which is warning property owners to take necessary steps. Homeowners insurance companies are preparing to introduce a new method of sum-insured calculation that would come…

New Zealand homeowners insurance – massive change on the horizon

September 3, 2012April 30, 2013

The repeated earthquakes and aftershocks are about to alter the face of this coverage. Homeowners insurance owners and shoppers are being cautioned that it may not be long before this type of policy no longer covers the full cost of a rebuilt house, should disaster strike. Fixed cover policies may be the direction in which the industry is shifting in the near future. The homeowners insurance industry has been leaning toward fixed cover policies, with Government valuations to be the foundation of future cover. According to Chris Ryan, the Insurance…

Canterbury, New Zealand faces homeowners insurance hikes following earthquakes

January 23, 2012January 23, 2012 H. Cutner

Homeowners in Canterbury, New Zealand are facing aftershocks of a financial kind, following the earthquake that struck the area, as the areas insurers hike the rates by up to 30 percent. Insurance companies were slammed by claims for damage from the quake, and by fees from international reinsurers. These insurers say that they are working hard to balance the tremendous costs against their dedication to keeping prices as affordable as possible. However, the most recent renewals for policies, where the terms begin February 1 or afterward, will also include an…