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  1. #51

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    Whangarei beats all or Dunedin

    a volcano may not be a problem The Maori lived here when the last one Rangitoto was still erupting

  2. #52
    Join Date
    Jun 2004
    Posts
    10,415

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    Quote Originally Posted by John the builder View Post
    a volcano may not be a problem The Maori lived here when the last one Rangitoto was still erupting
    I'm sure they covered the area the same as we do now - lots of big buildings etc.

  3. #53
    Join Date
    May 2004
    Location
    Christchurch
    Posts
    568

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    One practical thing you can do to limit your physical risk in a NZ home is remove any unused chimneys and fix any large pieces of furniture to the wall.

    Bricks kill people when coming down from a height. In the 2011 Christchurch earthquake I was outside a building we owned as the two three story chimneys came down. If it had happened three minutes earlier I wouldn't be here to write this as the room I was working on repairing from the 2010 earthquake was filled with bricks chest high by the chimney to knee deep at the lowest point.

  4. #54
    Join Date
    Sep 2008
    Posts
    7,581

    Default

    The premiums at one small complex have trebled since 2016, as part of a hike from $14,000 in 2011 to $57,000.

    That has pushed their annual body corp levy to more than $12,000 for each apartment.

    The complex, which did not want to be identified, has also spent more than $1 million on earthquake strengthening, meaning each apartment owner had to find over $150,000.


    https://www.stuff.co.nz/dominion-pos...from-insurance
    have you defeated them?
    your demons

  5. #55
    Join Date
    Mar 2015
    Location
    Brisbane Wellington Auckland
    Posts
    815

    Default

    Quote Originally Posted by eri View Post
    read it and weep

    https://www.stuff.co.nz/science/1099...-zealand-faces

    In the capital, a GNS Science study puts the estimated probability of a rupture of the Wellington-Hutt Valley segment of the Wellington Fault during the next 100 years at about 11 per cent. More people could be killed by the resulting tsunami than the earthquake itself, and many thousands of homes would be at risk from landslides in the hills.

    A senior geophysicist at GNS Science, Power was lead author of a 2013 report updating New Zealand's tsunami hazard, modelling peak water heights around the entire coastline, including waves of up to 10m that could strike Northland, Great Barrier Island, parts of East Cape and the Wairarapa.
    On average, a dangerous tsunami hits the shoreline every 40 to 50 years.

    There's nowhere on the coast that doesn't face some degree of risk, but the three main scenarios are:
    A tsunami is triggered by an offshore earthquake in the Hikurangi or Kermadec subduction zones, with potentially catastrophic consequences for the entire east coast of the North Island from the Far North to Wellington, and spilling into Marlborough.
    The threat to Auckland would be "somewhat mitigated" by buffering from the Coromandel Peninsula and Great Barrier Island.

    An earthquake in South or Central America sends a tsunami across the Pacific Ocean, affecting the whole coast of New Zealand, with Christchurch, Banks Peninsula and the Chatham Islands among the hardest hit.

    A megathrust earthquake in the Puysegur subduction zone south of New Zealand generates a tsunami that strikes the southwest corner of the South Island, from Fiordland to Southland

    plus volcanoes for auckland

    and fires for remote areas
    11% for a 100 years so the probability is caculated as one in 900 years approx
    So 900 years of premium = total loss
    Say premium for a house $2k you would have paid $1.8m over 900 years
    That house is worth say $600k so the rest is profit/overheads for insurance company .
    Every year put your premium into a investment
    The chances are that investment will be able to cover a claim
    In only 200 years your investment will probably be able to sustain a major loss
    The next 700 years you will not need to fund the account .
    Last edited by Beano; 07-05-2019 at 03:15 PM.


 

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