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Pain in the pocket: Higher building costs set to hit home insurance

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Business

11 Jun, 2021 05:00 PM

House insurance costs look set to rise. Photo / File

Higher building costs are pushing up the cost of insurance claims prompting insurers to consider or make price hikes in their premiums.

Insurance advisers were told on Thursday by NZI, which is owned by IAG,

When it came to contents insurance IAG also noted that repairs and replacement costs to household appliances, computers and mobile phones were also on the rise due to expensive technology in the latest models, as well as costs for personal-use items, such as eyewear and audiology.

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