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The EQC and you

We’ve changed the way we calculate our home and contents insurance prices. This means you’re charged according to the level of natural disaster risk in your region.

At the same time, the Earthquake Commission (EQC) also updated the way it does things to take into account the risk of natural disasters and the best way to cover New Zealanders.

These changes affect your premium price and the timeframe EQC will pay out a claim for damage to property caused by a natural hazard.

What is your EQC levy?

The EQC is a Crown entity that provides natural disaster insurance for residential homes and land, if you have a current private home insurance policy. EQC levies are collected by us as part of your home insurance premiums, then we pass them on to EQC. The amount we collect is set by the EQC, so this can vary each year.

What does the EQC cover you for?

The EQC provides limited cover for natural disasters including earthquakes, landslips, volcanic eruptions and tsunamis.

Changes to the EQC Act came in on 1st July 2019. The main changes are:

  1. The maximum payout by the EQC for natural disaster damage to a home has risen from $100,000+ GST to $150,000 + GST.
  2. You now have two years to make a claim, rather than three months.
  3. The EQC won’t be covering natural disaster damage to your contents any longer. This will now be automatically covered in your AMI contents cover, if you have it, instead.

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