

https://www.scoop.co.nz/stories/BU2302/S00024/auckland-flood-disaster-almost-half-of-kiwis-uninsured.htm

Auckland Flood Disaster – Almost Half Of Kiwis Uninsured

Thursday, 2 February 2023, 6:17 am
Press Release: Finder

In the wake of the record breaking floods in Auckland, thousands of households are suffering devastating losses.

Global comparison site Finder has stats on the number of Kiwis with home insurance, and tips on how to make a claim.

Key points:

Almost half of Auckland residents (45%) don’t have home insurance, according to new research by Finder.
That’s slightly higher than the national average (39% of Kiwis across the country say they don’t have home insurance).
When Finder’s data is filtered to those who currently have a home loan, roughly 1 in 10 (9%) respondents said they didn’t have home insurance.
Insurers operating in New Zealand have received over 13,000 claims so far following severe storms and flooding in and around the country’s largest city.
The city has been put into a state of emergency following flash flooding and landslides.
Finder’s nationally representative survey of 1,114 respondents revealed 3 in 4 (77%) Kiwis living in Auckland have car insurance. This is slightly lower than the national average of 80%.

Commentary from Angus Kidman, Finder’s editor at large in New Zealand:

“With more rain predicted over the coming days, the most important thing is to stay informed on how to get help.
“If you’re going to make a claim, gather as much information as possible so your insurer has no reason to deny it. Take photos and document everything you can.”
Kidman said the cost of the damage could be devastating for those without insurance.
“From temporary accommodation to the price of repairs, the cost of flood damage can be huge.
“Some Kiwis are not taking out insurance because they simply can’t afford it.
“Following the recent run of natural disasters, consumers are facing rising premiums which can put too much pressure on the household budget.
“But insurance is one of those costs that can be short term pain, long term gain – especially since the recent run of natural disasters in New Zealand.
“If you’re yet to take out home and contents insurance, this is a reminder of its importance.”