EQCover changes - 1st July 2019
Insurance companies collect premium of behalf of the Government, which are used to fund public services such as the Earthquake Commission.
From 1 July 2019 changes to EQCover mean that the Earthquake Commission:
- no longer provides cover for residential contents. In the event of a natural disaster your contents will be covered by your contents insurance instead.
- has increased their maximum cover for home insurance from $100,000 to $150,000 per dwelling. Your home insurance will top up their settlement if required, in accordance with the terms and limits of your policy.
They have also extended the period you can lodge a claim with them from three months to two years (NB: this change applied from February 2019).
These changes will effect most home and contents policies - new and existing. Should you have an existing policy with us and the change in EQCover be required, we will be in touch with you.