Is it more expensive to insure houses in Christchurch?
Christchurch isn't the most expensive place to get insurance in New Zealand.
Yes, it usually costs more to insure a house in Christchurch compared to Auckland.
But, insurance premiums in Wellington are often higher than in Christchurch.
Let's say you took 2 identical properties. One is in Christchurch and the other is in Wellington.
The premiums for the Wellington property could be x2 those for the Christchurch property.
Stepping outside the main cities, other parts of NZ are more expensive to insure too.
Properties in Hawkes Bay (or areas with a higher flood risk) will pay more for insurance.
Insurance premiums will also vary within each city too.
For instance, in Christchurch, the cheapest premiums are in Sydenham, Spreydon, or Rolleston.
Most of the houses in these suburbs were built post-earthquakes.
Developers built these properties to a higher standard. So they pose less risk to the insurance company. That means home owners get access to cheaper insurance.