Understanding Fire and Emergency New Zealand Levy Price Changes 2024

Premiums on insurance policies in New Zealand will be revised considering the updated Fire and Emergency New Zealand Levy rates that will be valid starting 1 July 2024. The revised levy rates will affect fire insurance coverages, residential buildings, contents insurance, and some categories of motor vehicles.

The increased rate of fire levy is at 11.95 cents per every $100 sum insured while the levy cap on residential buildings is increased to $119.50. Caps on contents insurance will be increased to $23.90 while the cap on motor vehicles that weigh below 3.5 tonnes gross laden weight is now $9.53 per every vehicle.

FundaGroup has been assisting customers by offering professional Fire & General Insurance Brokerage services to its clients.