Austinsure

Earthquake Commission Levy changes

The New Zealand Government has announced an increase to the Earthquake Commission levy (EQC), effective from 1 February 2012. The levies rise from $0.05 to $0.15 per $100 of insurance cover, with the maximum levy charge per house changing to $172.50 (GST incl) and $34.50 (GST incl) per contents policy.

Any commercial property risk with a residential element will need to reflect the EQC levy increase. Examples of this could include a rest home, body corporate, or a property manager living onsite.

It's essential that the correct premiums are charged on any new business or renewals due on or after 1 February 2012.

If we don’t currently handle your domestic insurance, contact Sheryl for a review and quotation on 0800 009 001 or email. We are able to offer comprehensive cover at competitive terms.