We’ve been talking about “the big one” hitting Wellington for decades and it seems the insurance companies are more worried about it than most. Stevie explores what this worry means for insuring your home in the capital.
You may have heard last week’s announcement from IAG (and its associated brands) that they are further limiting their new cover in the Wellington area. If you’ve lived in the Wellington region for a few years, you will know that this isn’t particularly a new announcement. Since the Kaikoura earthquake, IAG undertook a conservative (a.k.a. risk averse) approach to Wellington homes.
It is, however, a good time to discuss what this means for you as a Wellington homeowner.
Firstly, we’ve spoken to our Fire & General Insurance Brokers and it is business as usual. There are still companies that happily insure Wellington homes.
Secondly, we’ll be keeping our finger on the pulse for any changes with other insurance companies and keep our clients informed as always.
Finally, if you are concerned about the insurability of your home or rental properties, give us a call and we’ll talk it through with you.