Fears high building costs will leave home owners with inadequate insurance

An article from RNZ.

The rising cost of building materials may leave home owners in the lurch as the risk of under-insurance throughout New Zealand grows.  Most residential home insurers use a fixed sum policy, meaning anything over and above that amount will not be paid out if a home needs repairs or a total rebuild.  So, with construction costs continuing to rise the amount homes are covered for may not be enough.

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