Great Balls of Fire

Tongariro having a little cough and White Island erupting is enough to get us all a little concerned about volcanic activity and how it could possible affect us and our loved ones.The media reports we have nothing to worry about.  Even so, I thought I would remind you about EQC Insurance. It does cover you in the unfortunate event of a volcanic eruption, if you are covered/eligible.

To obtain EQC insurance you must hold a current fire insurance policy on the property with a private insurer.

EQCover is the Commission’s insurance scheme for residential property.

Property Insured

•    Dwellings (self-contained premises used as a home, including apartments);
•    Most personal property but excluding some types (e.g. motor vehicles and art);
•    The land immediately around the dwelling, main accessways, and retaining walls, within certain limits.

Types of natural disasters covered

•    Earthquake, natural landslip, volcanic eruption, hydrothermal activity, tsunami;
•    In the case of residential land, a storm or flood;
•    Fire caused by any of these.

The private insurer is required to collect a premium on behalf of the EQC. You pay 15c for every $100 of cover plus GST. As the cover is limited to $100,000 (plus GST) for houses and $20,000 plus GST for contents this means most people pay $67.50 per annum as part of their House and Contents insurance In addition to the limited EQC cover, private insurers provide cover beyond the EQC cover to the limit of the cover you have on your house and contents policies.

For more information go to www.eqc.govt.nz

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