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What you're covered for

EQC’s insurance is called EQCover, it provides disaster insurance for residential homes, land and (until 1 July, 2020) contents after earthquakes, landslips, storm damage, volcanoes, tsunami and hydrothermal activity.

You automatically have EQCover for your home and EQCover for your land 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), and you last took out or renewed your policy before 1 July 2019.

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What is not covered

Certain items fall outside our cover, like boats, trailers and trees.

More on items not covered

Items that are not covered by EQCover include:

  1. Intangible property (e.g. 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 (e.g. 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.

* EQC policies taken out or renewed after 1 July 2019 don’t cover contents.

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

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

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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.

More on excess

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

Personal property only

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

Note that EQC policies taken out or renewed after 1 July 2019 don’t cover contents.

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. They will advise you if the cost of total repair is less than the excess so you have certainty of your claim outcome. 

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