[NW2NZ]

Just wondered what the premiums in NZ were like? We've got a life policy in UK and a critical illness policy both of which cost around £60 each a month. Can these be continued if we're no longer resident in UK? If so, I reckon those premiums will seem steep when earning the dollar. Can anyone give me an example of kiwi premiums for two spritely 42yr olds? (Allegedly fit n well having just passed the medicals!) :yes

What about house insurance? Is that expensive and does it include earthquake cover? :eek

[Moorf]

Having just purchased house insurance (you have to have this before the bank will give you the mortgage) all they asked was the square footage of the house and the age! They didn't want to know how many beds or anything like that! Woz did ask them if they were SURE they didn't want more info and they said they base it on the sqft size of the house!

Cost for c. 190sqm house = $444

Insured against earthquake damage - yes via the Earthquake Commission Act (ECA) - everyone "should" be covered by this - basically your insurance co (in our case State Insurance) pays a disaster insurance premium to the ECA (which is included in your premium) and they pay out for earthquake disaster claims.

You can check this out at http://www.eqc.govt.nz/

[ruthyroo]

Hey hey

I think you are asking about life assurance (?) i.e. who pays off your mortgage if you pop your clogs or become otherwise in capacitated - rather than insuring the building against damage and destruction...? Try www.state.co.nz they are one of the biggest insurers out here.

Re your UK policy... we kept ours on becuase we still have our property in Scotland, but (see post below) i am really questioning the wisdom of doing so. it costs us GBP43 to service per month, which really bites on $$$, and in order to make a claim we would have to return to the UK - we couldn't do it out here in NZ. So I really don't know how much use it is to us?? FYI we had to inform the assurance co in writing before we left.

[Moorf]

Sorry, must have mis-read? :uhoh

What about house insurance? Is that expensive and does it include earthquake cover?

[ruthyroo]

No Moorf it was me that mis-read :oops: !! I am obviously desperate for someone to say 'dump the GBP43 per month life assurance payments' we are making!

[jonSE]

Housecontents insurance for a stated $150,000NZ worth of cover - $38NZ pcm. Don't need buildings insurance as we're renting at the moment.

Car insurance
Landrover Discovery - value $10kNZ - $41pcm
Porsche 928SE - value $50k -$69pcm
Porsche 928GT - value $40k -$61pcm

What seemed like a "bonus" to me was that I proved the 65% NCB i had in the UK on (on 1 car only) and they gave me 65% NCB on all 3 cars- cool.

Jon