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Vero Voice

The EQC Levy on your insurance is changing

Adam Heath

By Adam Heath
Executive General Manager, Insurance Solutions

11 September, 2017

The Earthquake Commission (EQC) is Government-owned entity funded by levies applied to insurance. It invests in natural disaster research and education, and acts as the New Zealand Natural Disaster Fund. 

Insurance companies like Vero collect levies on behalf of the EQC, which is included in the cost of your insurance.

The New Zealand Natural Disaster Fund has been depleted by the Kaikoura and Canterbury Earthquakes, so on 1 November 2017, the Government increased the EQC levies to rebuild the fund.

How will this affect you?

Residential property and contents

If you insure residential property or contents (including homes and contents insured under a farm policy) the EQC levy on your policies will increase from 15c to 20c per $100 of cover. 

The levy is capped, and only applies to the first $100,000 of cover for homes and $20,000 of cover for contents.

Policy type

Previous maximum charge per annum (excl. GST)

New maximum charge per annum (excl. GST)

Change per annum (excl. GST)









Home and Contents




Household property while in transit

Our EQC levy calculation guide will help you work out the new rate. 

Commercial property

The EQC levy will be applied to the residential components of any commercial property. Examples include rest homes, body corporates and homes on farms.

Marine insurance

The EQC levy applies to insurance policies covering household property in transit or storage within New Zealand.

Some helpful ways to manage your premiums

Events like the Canterbury and Kaikoura earthquakes have shown how important New Zealand’s natural disaster fund can be when a major event occurs.

But if you find these levies make it difficult to afford your insurance, there are a few things you could do to help.

For example, you could:

  • Add a voluntary excess
  • Check that your home is insured for the right value using the Cordell Calculator
  • Ask about discounts for monitored security and fire alarms, or for having two or more policies with us
  • Explore our range of flexible payment options

For personalised advice speak to your broker, or find a broker or adviser.

Find a broker

For more information on the EQC and how the levies are used, visit

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