The divide is growing between home insurance premiums in Wellington and the rest of New Zealand. 

Data from insurance company website Quashed shows the average Wellington premium quote last quarter was $4589, up 14% on a year earlier. 

A year ago, the average Wellington household was being quoted 51% more than in Auckland, 29% more than in Christchurch, and 31% more than the national average. 

They’re now being quoted 54% more than in Auckland, 40% more than in Canterbury, and 38% more than nationally. 

Adding on contents and car insurance, Wellingtonians are being quoted 58% more than in Auckland, 43% more than in Christchurch, and 42% more than nationally. 

The Insurance Council said while prices are stabilising due to easing pressures such as construction inflation and reinsurance rates, several factors continue to affect Wellington premiums. 

“In Wellington premiums will reflect a higher earthquake risk compared to other places like Auckland,” a spokesperson said. 

“The experience from the Canterbury and Kaikōura earthquakes and more information about the Hikurangi Subduction Zone and the Alpine Fault has seen insurers adjust their understanding of the risks faced in regions like Wellington.” 

Quashed chief executive Justin Lim said Wellington users appear to be saving money by selecting a higher excess amount when getting a quote. 

The average excess in Wellington has increased 16% in the past year. It is now 12% higher than Auckland and 29% higher than Christchurch. 

“Insurers are charging more for areas they deem a lot riskier. [They] are pricing out areas where they’re not as keen on insuring.” 

The Insurance Council said people should contact their insurer about options and shop around. 

“Insurers have also been looking at ways to help their customers manage their own protection as cost-effectively as possible, while doing what they can do to be efficient and keep costs down in their business.” 

It said the Government needed to work with councils, insurers, banks and communities on flood protection and other resilience measures. 

Such action would “send the right signals to global insurers that as a country we are reducing risk and ensure insurance is affordable and accessible”.