Body Corporate Insurance NZ — Compare Building & Liability Cover

Body corporate insurance typically covers building structure, common areas, liability for injuries on common property, and contents in shared spaces. Specific coverage varies by policy and property type.

Costs vary based on factors like property size, age, construction type, location, and coverage level. Most body corporates in New Zealand pay between $5,000 and $50,000+ annually depending on the number of units and replacement value.

Yes, under the Unit Titles Act 2010, body corporates must maintain insurance covering replacement value of buildings and common areas. Failure to insure adequately can expose committee members to personal liability.

Simply complete our comparison form with your property details. Your information is securely passed to Venture Insurance Brokers Ltd (FSP1009673), who will prepare competitive quotes from multiple insurers and contact you within one business day.

No, our comparison service is completely free. Venture Insurance Brokers Ltd receives commission from insurance providers for policies arranged, so there's no cost to you for comparing quotes.

Yes. EQC covers the first $300,000 + GST per dwelling for earthquake damage, with private insurers covering amounts above this. Wellington and Christchurch properties typically have higher earthquake premiums due to increased seismic risk.

Body corporate insurance covers the building structure and common areas, while contents insurance covers personal belongings inside individual units. Unit owners need their own contents insurance — body corporate insurance doesn't cover personal property.

The body corporate committee is legally responsible for arranging and maintaining adequate insurance under the Unit Titles Act 2010. Committee members can face personal liability if they fail to maintain proper coverage.

Contact your body corporate manager or committee chairperson immediately. Document damage with photos, and the committee will lodge the claim. For earthquake damage, claims go through EQC first for the initial $300,000 + GST.

If a claim exceeds your sum insured, unit owners must cover the shortfall from their own funds. This can result in special levies of tens of thousands of dollars per unit. Regular valuations help ensure adequate coverage.

Yes, but there may be cancellation fees and you'll need to ensure continuous coverage. Most body corporates review and potentially switch insurers at renewal time to get the best rates without penalties.

Annually at minimum. Review before each renewal to compare quotes, ensure sum insured reflects current replacement costs, and check that coverage meets your building's current needs and any regulatory changes.