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How EQC changes affect your insurance

Toka Tū Ake EQC is increasing the amount of cover they provide for natural disasters

When you insure your home, a portion of your cover is provided by Toka Tū  Ake EQC, a New Zealand Government entity. This means in the event of a natural disaster, the EQC pays for your claim up to their maximum limit and we cover the damage claimed above that, up to your sum insured amount.

You’ll still have the same insurance cover as you do now - all that’s changing is how much of your claim is covered by EQC, and how much is covered by us, in the event of a natural disaster.

From 1 October 2022:

  • The maximum amount of cover EQC provides on home insurance policies increases from $150,000 to $300,000 per dwelling, plus GST. 
  • The Toka Tū  Ake EQC levy, charged by EQC for this cover - is changing from a maximum of $300 to a new maximum of $480, plus GST.
  • The EQC levy you pay on your home insurance will change, this new amount is in the premium section of your renewal notice.
  • This also applies to commercial and rural properties with residential buildings.
  • This nationwide change affects all insurers in New Zealand.

For more information on EQC visit Toka Tū  Ake EQC.

You are able to lodge all earthquake and natural disaster related claims directly with us and we manage the EQC component for you.

If you are the owner of a separate self-contained dwelling or unit

If you have a property which includes self-contained dwellings or units, you will be charged an EQC levy on each one. However, you may not need to pay the maximum EQC levy on each one, depending on the sum insured.

If your separate self-contained dwelling or unit has a sum insured less than $300,000, contact your AMP adviser, broker or contact us  to ensure you're paying the correct amount in EQC levies.

If you need help to determine your sum insured, you can use the independent Cordell Calculator tool, visit

Frequently asked questions

What is EQC cover?

Toka Tū Ake EQC covers damage to your home caused by natural disasters like earthquakes, volcanoes, tsunamis, landslips and geothermal events, as well as fire resulting from any of these. It also covers damage to your land caused by a natural disaster, storm, or flood. When you purchase your home insurance with us, you automatically acquire EQC cover.

Will I still have the same insurance cover?

You’ll still have the same insurance cover that you do currently – all that is changing is how much of the claim cost is covered by EQC and how much is covered by us in the event of a natural disaster.

When will the changes apply to me?

From 1 October 2022, the changes will apply to your next renewal. It will also apply to any new home insurance or commercial, rural or farm insurance with residential buildings purchased after this date.

What do these changes mean for my insurance cover?

Home insurance

You’ll still have the same home insurance cover that you have now. The difference is that in a natural disaster, EQC will now cover up to the first $300,000 plus GST of your claim, and we will cover the rest up to your sum insured, subject to the policy terms and conditions.

The EQC cover is paid for by a levy that all insurers collect on behalf of the Government. As of 1 October 2022, the EQC levy on your home insurance policy will change.

For a breakdown of your premium and levies, please refer to your renewal notice. You can also find your policy wording here.

Commercial, farm or rural insurance (with a residential building)

You’ll have the same insurance cover for residential buildings that you have now, and this will be treated the same way as home insurance. Please refer to the home insurance FAQ above.

Why has my premium changed?

There are a number of factors that can influence your insurance premium. The calculation of your premium this year includes an adjustment for the changes made by EQC, so you may find that your premium goes up or down depending on your home, location and how we calculate your property’s risk.

We continually check that pricing across all our products is sustainable, to ensure we can support our customers in the long term. We’re here to help protect New Zealanders, and we want to ensure that insurance remains accessible for as many New Zealanders as possible.

We're here for you

If you’re facing financial hardship and are not able to pay your premium, or you’d like to discuss your payment options, please get in touch with your AMP adviser, broker or contact us and we’ll do our best to support you.

Insurance: Everyday

Everyday cover is insurance you purchased online rather than via an adviser.

Call: 0800 505 234

Insurance: Homeplan

Homeplan cover is insurance you purchased via an adviser.

Call: 0508 806 244
Important information

AMP general insurance products are issued and underwritten by Vero Insurance New Zealand Limited.