In most cases, we’re unable to adjust premium based on mitigation steps taken to reduce the damage from a natural hazard event. Our approach to pricing is commercially sensitive, but there are several data points we can take into account when calculating premium. These include our own data on the frequency of claims for certain types of events such as flooding or storm damage as well as third-party data to help estimate the probability and impact of natural hazard events.
In this section
- I’ve invested heavily to make my property more resilient to storms and/or flooding, will my home insurance premium be adjusted to account for this?
- I’ve never had a flood or earthquake, why are you charging me for it?
- Why is my neighbour’s home insurance premium less than mine?
- Where can I find information about the natural hazard risk associated with my home?
- Does my policy cover off-grid power sources?
- Does my home policy cover me for damage caused by pests?
- Does my policy cover landscaping costs?
- Can I include excess-free glass cover on my policy?
- Can I insure a multi-unit dwelling?
- What is a multi-unit dwelling?