A new Insurance Council of New Zealand survey found 53% of residents support restrictions on construction in high-risk areas to prevent insurance becoming unaffordable.

The survey, which polled more than 1000 respondents, revealed the measure as the most popular action to address rising insurance costs, with similar support (50%) given for better investment in flood defences and infrastructure. 

About 35% of respondents backed the establishment of a government-supported insurance scheme, while only 9% felt no action was necessary, believing that the “market will decide for itself”.

The survey found that more than 67% of New Zealanders believe risks such as earthquakes, floods, or sea level rise contribute “a great deal” or “a fair deal” towards rising premiums.  

This sentiment was most prevalent amongst those with an insurance policy, those who have lodged a claim in the last five years, homeowners without a mortgage, and those aged 60 or older.

By comparison, 24% of respondents said natural hazards are either a minor or not much of a factor in premium costs, while 4% said they have no influence at all.  

The survey also showed that New Zealanders believe growing weather risks and significant natural hazard events are the most likely causes of reduced insurance access.   

“These results show that New Zealanders are highly aware of the pressures natural hazards and climate change are placing on insurance,” ICNZ CEO Kris Faafoi said. “We need a combined effort from government, councils, and communities to reduce risks and ensure insurance remains accessible."

About 24% of New Zealanders feel they lack sufficient information regarding the natural hazard risks associated with their properties when buying or owning a home.  

Mr Faafoi says this highlights the importance of “transparent hazard information, smarter land-use decisions, and resilient infrastructure investment to maintain long-term insurance accessibility in New Zealand”.