Consumer Advice

Insurance Concepts


Calculation of the area of a house for insurance

Most domestic house insurance policies provide for replacement cover up to the total size of the dwelling.
It's up to the property owner at the time of taking out the policy to give the insurer the area measurement of the property.
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Duty of disclosure

When you apply for insurance, the insurance company will rely on the information it receives to decide on the terms and conditions for your insurance.
The insurance company will ask for certain particulars and you must provide complete, up to date and relevant information in response to any questions asked.
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Gradual deterioration and resultant damage

Most property insurance policies are designed to cover sudden, unexpected and unintended losses.
However some losses are not caused by these types of events and Insurance is not designed to cover them.
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Reduce the chances of getting hurt

Practical steps to take
How to make your home safer
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Insuring against natural disasters

The Earthquake Commission (EQC) is a Crown Entity that provides seismic disaster insurance for natural disaster damage to residential property subject to the Commission's terms and conditions.
The types of natural disasters covered by the EQC include earthquakes, natural landslips, volcanic eruptions, hydrothermal activity or tsunamis.
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Replacement vs. Indemnity (Present Day Value)

Insurance policies are available for the replacement of a lost or destroyed item and for the replacement less depreciation.
Learn about the differences.
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Section 74 notices

Under Section 72 of the Building Act 2004, a local body is required to issue a building consent for building on land that is subject to natural hazards, where the building work won’t make the hazard situation worse and it is reasonable to grant a waiver, or modification of the Building Code.
Where these building consents are issued, section 74 of the Building Act requires the local bodies to advise the Registrar General of Land, who is required to record an entry on the certificate of title of the land affected, that identifies a building consent has been granted under Section 72 and identifies the particulars of the natural hazard concerned.
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