What is the EQC levy?
The EQC levy contributes to earthquake and other natural disaster insurance provided by the EQC.
This levy is included in the premium you pay to insurance providers, like Tower, who collect this levy on the government’s behalf and pay it directly to the EQC.
Holders of house insurance policies pay the EQC levy, no matter which insurance provider they’re with.
The EQC is changing
The EQC has made two key changes to the way it handles claims for natural disasters. From 1 July 2019:
- The cover now focuses on Kiwis' single most important asset - their home. To do this the EQC has increased the cap on cover for houses damaged in natural disasters.
- EQC no longer covers contents.
For more details see EQC.govt.nz
How your insurance is affected