The study revealed that 86% of participants consider climate change a significant factor when purchasing a home, compared to just 55% two years ago. Weather and natural disaster risks now rank second only to pricing among housing considerations, ahead of crime rates, school zones, and public transportation.
The findings align with recent research that noted New Zealanders’ raised expectations regarding the performance of buildings during seismic events.
Amanda Whiting (pictured above), CEO of AMI, State, and NZI, explained that natural disasters have impacted New Zealanders’ housing preferences.
“The findings show that climate concern and natural hazard risk is well and truly front of mind for New Zealanders,” she said. “Issues like flooding are now impacting people’s behaviour around where to buy and rent. People have seen the devastation wrought by storms like Cyclone Gabrielle and are much more aware of the risks.”
The findings are part of the insurers’ latest Wild Weather Tracker, which recorded 6,712 claims related to extreme weather during the six months ending in February 2024. Canterbury was the hardest-hit region, accounting for 37% of these claims due to storms and high winds.
In addition to identifying weather risks, the survey found that 90% of participants want more publicly accessible data on property-specific hazard risks. Local councils were identified as the preferred source of this information, followed by real estate agents, government bodies, and insurers.
The Wild Weather Tracker aims to shed light on weather event impacts and assist New Zealanders in better understanding their exposure to natural hazards. Its Disaster Claims Hub is an online resource providing guidance on submitting claims following significant weather incidents.
Whiting emphasised the need for collaboration between insurers, government, and councils to maintain affordable insurance for New Zealanders.
“Our intention is to be here for the long-term, as a strong, sustainable insurer for New Zealanders. As a country, we are facing growing risk with unpredictable weather, alongside other natural hazards like earthquakes. This means claims are becoming more frequent and costly, compounded by inflation, which has led to premium increases. However, we don’t expect to see the same level of increases year on year,” she said. “This is why it’s important we continue to work closely with councils, the government, and other partners to ensure insurance remains accessible for New Zealanders.”
