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What you're covered for

Man reading insurance information

EQC’s insurance is called EQCover

EQCover provides natural disaster insurance for residential homes, land and contents.

  • You automatically have EQCover for your home and land (see details) if you have a current private insurance policy for your home that includes fire insurance (and most do).
  • You automatically have EQCover for your contents if you have a current private insurance policy for your contents that includes fire insurance (and most do).
  • From 1 July 2019, EQC will no longer cover contents, affecting policy holders on the anniversary date of their existing policy (which is generally the annual renewal date), or if you take out a new policy.

Home

From 1 July 2019 you will be entitled to EQCover of up to $150,000 (+ GST) for a residential building. This will apply to policy holders on the anniversary date of their existing policy, which is generally the annual renewal date, or if you take out a new policy.

Read more information at our buildings page.

Land

If your home is covered by EQCover, then some of your land is also covered.

Read more information at our land page.

Contents

Your 'contents' means 'personal property' that is usually in your home. It includes contents that are temporarily removed from your home.

Read more information at our contents page.

What is not covered

From 1 July 2019, EQC will no longer cover contents, affecting policy holders on the anniversary date of their existing policy (which is generally the annual renewal date), or if you take out a new policy.

Items that are not covered by EQCover include:

  1. Intangible property (eg. information stored on a computer)
  2. Jewellery, precious stones, money, works of art, securities, documents or stamps*
  3. Motor vehicles, or the parts or accessories of motor vehicles
  4. Trailers, or the parts or accessories of trailers
  5. Boats or other vessels, or the parts or accessories of boats or vessels
  6. Aircraft or anything in or on an aircraft
  7. Explosives
  8. Bushes, forests, trees, plants or lawns
  9. Growing crops (including fruit trees and vines)  or cut crops in the open fields
  10. Animals, including livestock and pets
  11. Tennis courts, whether inside or outside and regardless of the surface
  12. Jetties, wharves or landings
  13. Roads, streets, drives or paths. But certain land underneath your main access way (eg. under your driveway) may be covered by EQCover for land
  14. Any paving or other artificial surface
  15. Bridges or culverts not covered by EQCover for land**
  16. Retaining walls not covered by EQCover for land**
  17. Dams, breakwaters, fences or poles**
  18. Reservoirs, swimming pools, baths, spa pools, tanks or water towers**
  19. Loss by theft or vandalism, or loss of profits, following a natural disaster
  20. The costs of staying somewhere else temporarily after a natural disaster
  21. Any contents* used solely or principally for commercial purposes.

*From 1 July 2019, EQC will no longer cover contents, affecting policy holders on the anniversary date of their existing policy, which is generally the annual renewal date, or if you take out a new policy.

**Items 15 to 18 may be insured in some cases (eg. if they are part of the building that is your residential building).

Items listed above might be covered by your private insurance policy.

Excess

An excess is the amount you have to contribute towards a claim that is accepted by EQC. The amount of the excess is deducted from the amount of your claim.

Your dwelling, or your dwelling and personal property If your claim is for $20,000 or less, EQC will deduct an excess of $200 and pay the rest. If your claim is for more than $20,000, EQC will pay 99% of it, deducting an excess of 1%.

From 1 July 2019, EQC will no longer cover contents, affecting policy holders on the anniversary date of their existing policy, which is generally the annual renewal date, or if you take out a new policy.

Personal property only

Whatever the amount of your claim, EQC will deduct an excess of $200 and pay the rest.

From 1 July 2019, EQC will no longer cover contents, affecting policy holders on the anniversary date of their existing policy, which is generally the annual renewal date, or if you take out a new policy.

Land

If your claim is for $5,000 or less, EQC will deduct an excess of $500 and pay the rest. If your claim is for more than $5,000, EQC will pay 90% of it, deducting an excess of 10%. However, the maximum excess EQC can deduct is $5,000.

Home

If your property can be repaired or replaced for less than the amount of the excess, then EQC will pay nothing. You will have to meet the cost of repairs or replacement yourself. Where EQC decides to settle a claim for damage by reinstatement, EQC can invoice you for the excess. You will need to speak to your claim manager regarding the specifics of your situation.

 

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