EQC leaked information

[AllanB]

GV is a load of shit. Check your own GV and tell me if the land value would allow you to replace the same as you had and ditto with your house value. I must be the easiest job in NZ to be a GV person as you have not responsibility to get it remotely correct!


Fixed Sum insurance is being used all over the world. The trick is to insure your house for the correct sum that it would cost to replace if it was a total loss. Under insure and burn that sucker down and you will not have enough to replace it with.

[Grumph]

GV is a load of shit. Check your own GV and tell me if the land value would allow you to replace the same as you had and ditto with your house value. I must be the easiest job in NZ to be a GV person as you have not responsibility to get it remotely correct!


Fixed Sum insurance is being used all over the world. The trick is to insure your house for the correct sum that it would cost to replace if it was a total loss. Under insure and burn that sucker down and you will not have enough to replace it with.

Quite correct - the prob in ChCh at present is that building costs are going up faster than you can get new quotes for the rebuild....reprice insurance 2 or 3 times a year anyone ? Then there's the rising cost of the insurance itself.
Most i think will eventually settle on a sum insured which will at least pay for a roof over your head - maybe a relocatable.....Who knows what the premiums will eventually settle at. I'd like to see the equivalent of 3rd party insurance for property - or at least just fire and theft insurance. Bugger the EQC levy - we've seen just what it doesn't get you.

Re the information - EQC lie to homeowners - fact. The release of this info at least has told some people just how big the lies have been. Lets see more I say...

[Zedder]

GV is a load of shit. Check your own GV and tell me if the land value would allow you to replace the same as you had and ditto with your house value. I must be the easiest job in NZ to be a GV person as you have not responsibility to get it remotely correct!


Fixed Sum insurance is being used all over the world. The trick is to insure your house for the correct sum that it would cost to replace if it was a total loss. Under insure and burn that sucker down and you will not have enough to replace it with.

Fixed sum insurance isn't used all over the world, France and Germany don't have it for example, and even if it was that doesn't make it right.

The valuation process isn't straight forward and the insurance companies have neatly stepped aside from responsibilty and placed that and the risk on home owners to get the numbers correct. Results of this are building cost inflation plus over insurance, which is money for nothing for insurers, but home owners aren't likely to see any premium rebates come their way.

[mashman]

GV? From what I read, the last thing you do is rely on it or market valuation for that matter.

It's not usually that out of touch from what I've seen. Huge difference between resale value and rebuild value, especially if you already "own" the land.

[triplets]

If you don't mind a 15.8Mb email, otherwise PM me and I could stick it on a disc.

Can't guarantee there's any useful information in there, there was nothing on our rental with an outstanding claim, or the claims for 2 guys at work that had a look for their addresses either.

Any chance you could send me a copy please, EQC have just started really messing me around and I may look to take the money and organise my own repairs. I want to keep them honest :-) Thanks!

[Jantar]

I thought there were only around 9000 adresses, but there is some hiddedn data that when exposed gives details on 98000 adresses. I finally found my sister's details, and more than 2 years after the claim was lodged, it still hasn't even been assigned to an EQC supervisor.

[Grumph]

I thought there were only around 9000 adresses, but there is some hiddedn data that when exposed gives details on 98000 adresses. I finally found my sister's details, and more than 2 years after the claim was lodged, it still hasn't even been assigned to an EQC supervisor.

Situation normal for far too many people....many years down the track when all this shit comes out into the public domain, historians are going to speculate just how it was kept quiet for so long - and why.