Insurance premiums around the country are rising, with new research showing those in Wellington are facing the steepest price hikes.
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Those in the capital are facing the greatest premium hikes.
Source: 1 NEWS
Consumer New Zealand is calling on the government to take action after home insurance costs increased more than 150 per cent over the past decade.
The organisation compared insurance quotes from eight insurers, finding a median cost of $2386 for standard cover on a house in Wellington, per year.
That’s almost $500 more than Christchurch ($1892) and about $670 more dear than Auckland ($1718).
Jessica Wilson of Consumer New Zealand said “it is a real concern for us that insurance is become quite pricey – there is a bigger role here for EQC”.
Tim Grafton of the Insurance Council said premium levels in past years had been “grossly under-priced for