Our hearts went out to everyone affected by the floods in West Auckland in September which caused severe damage to a number of homes and businesses, rendering some uninhabitable. 

It’s a timely reminder that – both residential and commercial property – are often under-insured when it comes to natural disasters like earthquakes, floods, and storms.

Climate change means weather events are hitting us more often here in NZ. 

It’s a good idea to review your sum insured each year, or when renovating your property, to make sure it’s accurate. Remember too that you can amend your sum insured at any time, not just when your policy is due for renewal – particularly if you have made improvements or changes to your property.  

Increasing the sum insured usually doesn’t result in a huge increase in premium. In the scheme of things, it’s a small price to pay for peace of mind for your home or business. 

For more information on calculating the correct sum insured, talk to your broker.