New Zealand’s Earthquake Commission has paid out more than $NZ500 million ($468.42 million) in contents claims arising from the Canterbury earthquakes.

The state-owned insurer has received more than 185,000 claims. It covers up to $NZ20,000 ($18,737) of damage, with the remainder passed to householders’ private insurers.

GM Customer and Claims Gail Kettle says 98% of contents claims have been settled, with fewer than 3000 outstanding. The average payment is $NZ2700 ($2529).