What is covered by EQC?
EQC’s insurance product, EQCover, it provides disaster insurance for residential homes, land and (until 1 July, 2020) contents after earthquakes, landslips, storm damage, volcanoes, tsunami and hydrothermal activity. For storm or flood damage, EQCover is limited to residential land.
How long do you have to make an EQC claim?
While ensuring safety of yourself and family should always be the priority, it’s important to get your claim in as soon as possible following a natural disaster. We encourage all homeowners to lodge their claims within three months.
What is the EQC levy?
The EQC levy (Earthquake Commission levy) helps to fund earthquake and other natural disaster insurance cover provided by EQC. The maximum EQC levy per Home or Landlord Insurance Policy is $300 (+ GST) per annum. By paying your Home or Landlord Insurance premium, you automatically pay the EQC levy and gain EQCover.
Does EQC cover driveways?
Certain items on the land, such as trees, plants, lawn and driveways, aren’t covered. However, we do cover the removal of debris from your insured land, such as fallen trees.
Does EQC cover commercial property?
The EQC does not provide cover for commercial buildings.
Does EQC cover contents?
EQCover provides natural disaster insurance for residential homes, land and contents. You automatically have EQCover for your home and land if you have a current private insurance policy for your home that includes fire insurance (and most do). …
How do I lodge a claim with EQC?
To lodge your EQCover claim you will need to contact either your private insurer or EQC. Details and advice for who to contact for lodgement can be found on our Make a claim page. Lodgement can generally be conducted online anytime or over the phone.
How do I get my EQC report?
Requesting EQC claim documents You just need to email EQC with the request and your claim number. See our contact us page for details. If you are interested in buying a home, you can make a request to EQC to obtain property-related information about any previous claims for natural disaster damage for that property.
How is EQC calculated?
EQCover costs 20 cents for every $100 (+ GST) of home fire insurance you have, and is capped at $300 (+GST). You pay this amount to your private insurance company, which passes it on to EQC. EQCover provides insurance cover for natural disaster damage to residential buildings up to $150,000 (+GST).
Does house insurance cover earthquakes?
Homeowners and renters insurance does not cover earthquake damage. A standard policy will, however, generally cover losses from fire following a quake and, if such a fire makes your home unlivable, cover the additional living expenses incurred while you live elsewhere during repairs.
Does EQC cover retaining walls?
It’s important to note that things that are on the land, such as trees, plants or paved surfaces are not covered by EQC. Retaining walls that serve a landscaping function, rather than supporting or protecting your house or the insured land (including the main access way), are generally not covered by EQC.
Can you insure bare land in NZ?
“There is no cover available at all for this bare section whether it is bare for a few weeks, months or years. “The land is entirely at the owner’s risk and no insurance policy is available for this risk.” An EQC spokesman said the commission could cover people for land damage only if they had a house to insure.
Are there any obligations under the EQC Act?
Yes, as a general principle. · EQC’s obligation to pay to replace/repair a person’s home to a largely new condition (but not better or more extensive than what the home was like when new) is modified “as necessary to comply with any applicable laws” (which would include current building regulations).
What does it mean when EQC is repairing your home?
Under the Earthquake Commission Act 1993 (‘the Act’), this means that EQC is liable to pay any costs “reasonably incurred” to replace or repair the damaged part or parts of your home to a condition which is “substantially the same as but not better or more extensive” than its condition “when new”.
Can a limitation notice be declined by the EQC?
If your property has a limitation notice on its land title, EQC has the discretion to decline a claim that you put in for that property (where the claim relates to the damage that hasn’t been fixed). This is set out in clause 5 (2) of Schedule 3 of the Earthquake Commission Act 1993 .
Can an EQC request a section 72 notice be removed?
Please note that EQC has no input into the issuing of a section 72 notice and cannot request a notice be removed Section 73 of the Building Act makes it a requirement that the consenting authority must notify the Registrar-General of Land that the property is subject to a natural hazard and a conditional consent has been issued.