New Zealand Home Owner's Insurance Bills Surge 300% Over Five Years: Experts Weigh In

Napier homeowner Harry Machiela's insurance bill has risen more than 300% in five years, prompting questions about the affordability and fairness of home insurance. Insurers attribute the increases to inflation, reinsurance rates, and severe weather events, but the Insurance Council of New Zealand notes that there is no one-size-fits-all figure for expected increases.