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EQC insurance overview

EQCover provides natural disaster insurance for residential homes and land.

You automatically have EQCover for your home and land if you have a current private insurance policy for your home that includes fire insurance (and most do).

We use the term ‘home’ or ‘building’ while the EQC Act uses the term ‘dwelling’ to refer to any self-contained premises used, or capable of being and intended to be used, as a home or holiday home.


Natural disasters that we cover

EQCover provides insurance for damage from many different natural hazard types, not just earthquakes!

EQCover insures you against loss or damage from:

  • an earthquake
  • a natural landslip
  • a volcanic eruption
  • hydrothermal activity
  • a tsunami.
  • It insures your residential land (within limits) against storm and flood damage.
  • It also insures you for fire resulting from any of these natural disasters.
  • If your home isn't damaged after one of these disasters but damage is imminent as a direct result of one of them, EQCover may also apply.

EQCover building cap

Toka Tū Ake provides a maximum amount of cover for damage to your home and some residential land under the EQC Act.

The EQCover building cap for a residential building containing one dwelling is usually $300,000 + GST for each natural disaster event.  If your property was damaged by a natural hazard event before 1 October 2023, the relevant building cap may be lower than this. In both cases, any building cover above the EQCover cap is provided by your private insurer, as outlined in your valid policy.

Read more information about the EQCover building cap and premium changes.

EQCover is available for some residential land, but there are limits to this unique insurance. Read more information about EQCover for residential land. 

EQCover premium (levy)

An EQCover premium – also referred to as the levy - is collected by your private insurer and paid into the Natural Disaster Fund. The fund is managed by Toka Tū Ake EQC and used to pay EQCover claims.

The EQCover premium is 16c per $100 of the EQCover amount, up to a maximum of $480 (+ GST).

EQCover building excess

An excess is the amount you must contribute toward an EQCover building claim that is accepted under the EQC Act 1993.

If your accepted EQCover claim is for $20,000 or less, an EQCover building excess of $200 (incl. GST) will be deducted before the rest is paid. If your accepted EQCover claim is for more than $20,000, 99% of this amount will be paid, as an EQCover building excess of 1% will be deducted.

The building excess is calculated at 1% of the maximum amount payable, including GST, and deducted from the amount of your claim.

Government guarantee

EQCover is Government guaranteed. This provides assurance to customers that if Toka Tū Ake EQC has a very large number of claims – for example, after a major natural disaster – and cannot cover its obligations from the Natural Disaster Fund and its reinsurance, then the Government will pay the shortfall.

Direct EQCover

If you are unable to obtain EQCover through a private insurer, you can apply to us for Direct EQCover against natural disaster damage.

Direct EQCover provides the same benefits as the EQCover purchased through private insurers. The only difference is that it is purchased directly from Toka Tū Ake EQC.

Before you can apply for Direct EQCover you will need to apply for insurance though the private market. Direct EQCover is only available where private insurance has been declined for reasons which are unrelated to natural hazard risk. We will consider all applications on a case-by-case basis.

For more information about Direct EQCover please contact

Questions and answers

Answers to some common questions about EQCover are available here. If you have a question that isn’t answered, please contact us.