Changes to EQCover - Effective 01 July 2019

EQCover is the Earthquake Commission’s natural disaster insurance for contents, homes and land.

 

There are changes to EQCover effective from 1 July 2019.

 

  1. Contents – from 1 July 2019

EQCover will no longer include the contents in or on your home. This change will take effect from 1 July 2019 on an existing policy’s renewal date, substantial mid-term adjustments, and new policies.

This means that your insurer is now covering natural disaster risks for the full sum insured, and this is reflected in the new pricing structure.

 

  1. Home – from 1 July 2019

EQCover for residential buildings increases from $100,000 plus GST to $150,000 plus GST. This change will take effect from 1 July 2019 on an existing policy’s renewal date, substantial mid-term adjustments, and new policies.

This means that the first $150,000 of cover for natural disaster risks is covered by EQCover, and your insurer covers the balance up to the sum insured.

Premiums and the EQCover levy have changed to reflect this.

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