EQC has changed to NHC Toka Tū Ake From 1 July 2024 EQC became the Natural Hazards Commission Toka Tū Ake.
New legislation has come into effect, the Natural Hazards Insurance Act, and any new claims for natural hazards damage that occurred on or after 1 July 2024 will be managed under this new Act. The cover is called Natural Hazards Cover (NHCover). Any damage that occurred before 1 July 2024 would be covered under the Earthquake Commission Act 1993.
The cover is similar under both Acts, and you can read more about the changes on the NHC Toka Tū Ake website.
Your Natural Hazards Insurance levy ensures you have access to NHCover
If your property is damaged by a natural hazard, NHCover provides the first layer of insurance for your insured home and cover for certain areas of land under and around it.
Anyone with a valid insurance policy with FMG that has fire cover has access to this cover and pays a levy through their insurance premium.
NHCover covers you for a range of natural hazards
It covers damage to your home and land from a range of hazards, including earthquakes, landslides, volcanic activity, hydrothermal activity, and tsunami.
It also covers damage to your insured land from storms and floods (home cover for these events is usually provided through your private insurance policy).
Cover is also provided from fire that occurs because of any of the above natural hazards.
If you have any questions talk to FMG
As your insurer, FMG works on behalf of NHC Toka Tū Ake to assess and manage claims to make the process simpler for you.
If you need to make a claim or have questions about your cover (including what’s covered and what’s not, and what additional cover is available through your private insurance policy), get in touch with us and we’ll talk you through it.
Know your cover
Your home – the first $300,000
For your home, the Natural Hazards Commission Toka Tū Ake provide cover for:
- your home or holiday home
- separate buildings or structures that you use as part of your day-to-day living (for example sheds, garages, pergolas)
- some essential services that serve your home, such as water supply, drainage, sewerage, gas, electricity, heating, or telecommunications.
How much is covered
If your home is damaged by a natural hazard, the Natural Hazards Commission Toka Tū Ake can generally provide up to the first $300,000 + GST towards repairing or replacing your home and related buildings.
Any cover over this amount is provided through your private insurance policy with FMG.
It’s a good idea to regularly check that the amount of home cover you are purchasing is enough to rebuild your home.
Your land – unique cover with limits
New Zealand Aotearoa is one of the only countries in the world with access to residential land insurance, provided by the Natural Hazards Commission.
This cover is generally a contribution to repairs, and you can’t buy extra land cover through your insurer. For your land, a limited area is covered:
- the land under and up to 8m around your home and related buildings and structures
- the land under your main accessway up to 60m from the house
- some retaining walls, bridges and culverts, to a limit.
Your land cover is capped
The Natural Hazards Commission can only provide cover for repair costs up to the land cap, which is based on the value of your insured, damaged land.
Because it is a contribution, the cover sometimes won’t be enough to fully repair the damage to your property. It’s important to understand these limits and how you can manage the risks to your property
