New Zealand’s Earthquake Commission (EQC) from today provides increased building cover of up to $NZ150,000 ($143,555), under legislative changes approved earlier this year.

Changes to the EQC Act paved the way for the commission to extend its cover from $NZ100,000 ($95,703), applying to new policies and renewals.

“The increase in the residential cap will bring the EQC cover more in line with increased house prices,” EQC CEO Sid Miller said.

Other changes include removing the $NZ20,000 ($19,140) of EQC cover for contents. Private insurers will now pick up the tab.

“When the private insurers handle all contents damage, the customers will have only a single point of contact, which should make things easier for the claimant,” Mr Miller said.