Earthquake Commission (EQC) levy to rise from 1 February 2012

If you have home and/or contents insurance with us, please be aware that the Government has announced an increase to this levy from 1 February 2012.

The increase is intended to help rebuild the EQC’s Natural Disaster Fund following the Canterbury earthquakes and to ensure that the EQC has the capacity to meet its obligations, now and in the future.
The maximum total levy that you will pay is $150 + GST on your house and $30 + GST on your contents. Previously these levies were $50 for house and $10 for contents excluding GST.
The increase will apply if you:
• take out new personal house and/or contents policies on or after 1 February 2012 or
• Your existing insurance renews from the 1st February 2012

The levy is applied automatically to your insurance premium and you’ll see this itemised on your policy renewal documents.
For full details on the EQC and the cover it provides in the event of a natural disaster, go to www.eqc.govt.nz