Totalling tempest costs

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Insurance

The Insurance Council of New Zealand has reported that the storm that hit Auckland and the Coromandel between 7 and 12 March 2017 –  the ‘Tasman Tempest’ – has resulted in insured costs of NZ$41.7 million.

This is according to provisional data that shows 5,800 house and contents claims costing $24.5 million, 760 commercial material damage and business interruption losses costing $13.4 million, and 315 motor vehicle claims costing $2.8 million.

“The three weather bombs we’ve had in recent weeks highlights the importance insurance plays when disaster strikes,” said Insurance Council chief executive Tim Grafton. “We would hope that uninsured renters are now taking steps to ensure their contents are protected to see them through these types of events. And for homeowners that they check their sum insured is enough to rebuild in the event of a total loss.”