As 2022 draws to a close, I’m sure many of you are looking forward to a break and some time away with family and friends – a chance to recharge the batteries, reflect on the year that’s been and look forward to the year ahead.

Having a small bach by a long stretch of golden sand has always been part of the Kiwi dream. There’s no better place to spend a summer than on the beach eating hokey pokey icecream, fishing off the rocks and building sandcastles with the kids. But, like all your assets it’s important your bach is insured and you and your family are protected against any unforeseen events that might come your way.

Over the last few years we’ve seen a number of key factors having an increased influence on the insurance market in New Zealand, which has resulted in shrinking capacity for insurers and rising premiums for consumers.

From 1 October 2022, the amount of cover offered by Toka Tū Ake EQC (EQC) for houses damaged in natural disasters is increasing from $150,000 to $300,000 (plus GST). This means that if your house is damaged in an earthquake, tsunami, volcanic eruption, hydrothermal activity or landslide EQC will now cover up to the first $300,000 worth of damage.

As borders continue to open up around the world and Kiwis start to pick up on the travel plans they’ve had shelved for the last few years, the topic of travel insurance has never been more relevant.