Book an appointment here

Home Insurance

Understanding Home Insurance in New Zealand with Gerrards Insurance Brokers

Home insurance is an essential part of owning a home and protecting your property. It acts as a safety net for your biggest asset and can save you from considerable financial distress should something unexpected happen. In this blog post, we’ll guide you through the essentials of home insurance in New Zealand. We will also shed light on some common claims, answer frequently asked questions, and explain the importance of using an insurance broker.

Topics covered

What is Home Insurance?

Home insurance is a type of property insurance that covers damages to an individual’s house and the assets within. This can range from damages due to natural disasters, theft, or accidents. Additionally, liability coverage is often included, which protects against lawsuits involving injuries that occur on and off your property.

Who Needs Home Insurance?

Who needs home insurance? Essentially, anyone who owns a home. It is also usually a requirement by lenders before they finance your mortgage. Home insurance provides the necessary financial cover if your home is damaged or destroyed, offering you peace of mind.

Common Home Insurance Claims

To illustrate the relevance of home insurance, let’s take a look at hypothetical claims scenarios:

Natural Disasters

This is a common claim in New Zealand, given our susceptibility to earthquakes, storms, and floods.


Fires can occur due to various reasons like electrical faults or unattended cooking and can cause extensive damage.


Home insurance also covers you against theft or attempted theft at your property.

Accidental damage

Accidents happen, and sometimes they can be costly. This could include anything from a broken window to a damaged roof.


If you need a more specific claim example for home, contact us and we can provide you with these. 

Commonly Asked Questions

What do I need to watch out for with home insurance?

When purchasing home insurance, it’s crucial to be mindful of the following:

Sum Insured Too Low

Ensure the sum insured reflects the actual cost to rebuild your home.

Different Excess Options

Understand the excess on your policy and consider if a higher excess could lower your premium.

Replacement Value Capped at Sum Insured

Be aware that the replacement value is often capped at the sum insured.

Exclusions in Policy

Read the fine print for any exclusions in your policy.

Regularly Review Your Policy

Your needs may change over time. Regularly review your policy to ensure it remains appropriate.

What is covered by house insurance vs contents insurance?

House insurance covers the physical structure and fixtures of your home, including the roof, walls, and floors. On the other hand, contents insurance covers personal possessions inside the home like furniture, appliances, and personal items.

What is hidden gradual damage cover?

Hidden gradual damage is damage that happens slowly over time, like a leaky pipe causing water damage to a wall. Some insurance policies cover this, but the damage must be hidden from view, and the cause of the damage needs to have started after the policy took effect.

What is the difference between private home insurance and commercial property insurance?

Private home insurance covers your personal residence and its contents, while commercial property insurance covers property used for business purposes.

Is my home insurance covered without a code of compliance?

Yes, it can be if it’s a new build and practically complete. However, specific conditions may apply, and it’s best to check with your insurance provider.

How long does home insurance last?

Home insurance policies typically last for one year and must be renewed annually.

How do I get a home insurance certificate?

You can request a certificate of insurance from your insurer once you have purchased a policy.

Buying Home Insurance

The cost of home insurance in New Zealand can vary greatly, ranging from just over a thousand dollars for the most basic homes to a few thousand for luxury homes. This cost is dependent on a variety of factors such as the home’s location, size, build quality, and even the level of coverage you require.

Should I use a broker for house insurance?

Absolutely! Navigating the complexities of home insurance can be challenging. An insurance broker will help you understand the fine print, guide you towards the right cover, and even assist in claims processes. Here at Gerrards Insurance Brokers, we strive to provide the best guidance and ensure you’re well covered.

Investing in home insurance is a critical part of home ownership. At Gerrards Insurance Brokers, our goal is to make this process as smooth and transparent as possible. Don’t hesitate to reach out to us for any queries or assistance you need. We’re here to help you protect your home and give you peace of mind.