Am I covered for Natural Disasters?

All our house insurance policies include cover for natural disasters up to the replacement sum insured you select on your policy.

From 1 July 2024 new governing legislation, the Natural Hazards Insurance Act 2023 came into effect. This Act modernises and replaces the Earthquake Commission Act 1993, now commonly known as the “NHI” (previously known as EQC).

Under the Act, the NHI will cover up to the first $345,000 including GST towards any insured damage. We (your insurer) then cover the repair costs over $345,000 – up to your replacement sum insured.  This is called ‘top-up cover’.  The NHI have a standard excess of $500 per insured home.

The NHC Commission also provides some cover for land and land structures such as retaining walls, bridges and culverts.

If a Natural Disaster only damages your driveway, fence, patio, path, paving, tennis court or another artificial surface (i.e. not the house), this is not covered by the government NHC but may be covered by Initio. An excess of $5,000 applies in these instances.