The cost of insuring a home is rising six times faster than incomes.

Data from Stats NZ show insurance premiums have increased 14 percent in the year to March, while incomes rose just 4.1 percent over the same period. The price of home insurance has increased 24.6 percent, while contents has increased 28 percent – both the biggest increase since the 1980s.

Insurance Council Chief Executive Kris Faafoi tells Mike Hosking a spike in premiums often follows significant events like natural disasters. It is important consumers maintain their level of insurance to protect important things in their life.

LISTEN ABOVE

The cost of insuring a home is rising six times faster than incomes. 
Data from Stats NZ show insurance premiums have increased 14 percent in the year to March, while incomes rose just 4.1 percent over the same period. The price of home insurance has increased 24.6 percent, while contents has increased 28 percent – both the biggest increase since the 1980s. 
Insurance Council Chief Executive Kris Faafoi tells Mike Hosking a spike in premiums often follows significant events like natural disasters. It is important consumers maintain their level of insurance to protect important things in their life. 
LISTEN ABOVE

Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more.

The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.The sharpest voice and mind in the business, Mike drives strong opinion,...