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Deciding how much to insure your home for can be difficult. There are tools you can use to assist you with determining your sum insured.
Home insurance provides financial protection for your property against a range of risks, including fire, explosion, theft, vandalism, and natural disasters such as earthquakes, floods, and storms. A comprehensive policy typically covers the structure of your home, permanently attached fixtures like water tanks and carpets, and may include personal liability protection. It’s also commonly required by lenders when taking out a mortgage. The cost of home insurance depends on factors such as the size, age, and construction of your home, its location, occupancy, and claims history. Ensuring your home is insured for the correct replacement value is essential to avoid shortfalls in the event of a total loss. Our team works with a range of insurers to find options that suit your needs and budget, and we’re here to support you through every step - from choosing a policy to making a claim.
At C&R Insurance, we’re serving the insurance needs for Central Otago and Southland. Because we believe insurance should be personal, we come to you and value face-to-face conversations and providing straightforward advice. We help you assess whether your current policy reflects the true cost of rebuilding your home, including any renovations, additions, or changes in use. Many homes are under-insured, which can lead to significant financial gaps if a claim is needed. We also assist with reviewing your coverage regularly and making sure your insurance keeps up with changes to your property.
Your home is worth protecting. Let us review your cover for free and give you peace of mind.
Key Factors That Influence Your Home Insurance
Regional conditions play a significant role in shaping your insurance needs. In Central Otago and Southland, some areas face higher exposure to flooding, landslides, storm surge, and earthquakes, which can affect both the availability and cost of cover. Properties in higher‑risk zones may require additional flood protection, higher premiums, or increased excesses. Understanding the natural hazards specific to your location is essential when selecting the right policy.
Key factors that influence your cover include:
Natural hazard exposure, such as flood zones, seismic activity, and land stability.
Home characteristics, including renovations, total floor area, room configuration, construction style, and building materials.
Exterior features like decking, paving, driveways, garages, swimming pools, spa pools, and tennis courts.
Land features, including slope, retaining walls, and nearby structures such as bridges, dams, or private wharves.
Your sum insured should reflect the full cost of rebuilding your home - including materials, labour, demolition, and council fees - and does not include land value or market value. Purchase price, rates valuations, or general estimates are not reliable indicators of rebuild cost.
When reviewing or arranging home insurance, ensure that new structures, renovations, or changes in use (such as renting out the property or running a business from home) are disclosed to your broker. Most comprehensive policies include personal liability and unintentional damage cover, but limits and exclusions vary. Combining house and contents insurance with the same provider can help reduce gaps and streamline the claims process.
At C&R Insurance, we help you assess these details so your policy accurately reflects the true cost of replacement and the specific risks of where you live.
Benefits of Home Insurance
House insurance provides financial protection by covering the cost of repairs or rebuilding in the event of damage from natural disasters, such as storms or fires.
It safeguards your property against theft or vandalism, ensuring you won't bear the full financial burden if your home is broken into.
House insurance offers liability coverage, protecting you from legal costs if someone is injured on your property.
With house insurance, you gain peace of mind knowing you're financially supported in case of unexpected events that could impact the structure of your home.