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Gisborne's pre-Xmas earthquake is shaping up to be New Zealand's costliest in 20 years.
The deadline for claims resulting from the December 20 quake expired this week, with damage estimated to top $50 million.
This would make it the most expensive earthquake since a similar-sized quake hit the Bay of Plenty town of Edgecumbe in 1987.
On inflation-adjusted terms, the Edgecumbe quake would have cost $391 million.
Gisborne's central business district was hardest hit by the magnitude 6.8 quake, with shops partially collapsed and roofs caved in. Elsewhere, water tanks and winery vats burst and holes opened up in roads.
The three-month deadline for claims to be lodged passed on Thursday, but the future of a number of damaged buildings remains in the hands of insurance companies.
Nine buildings are still closed under the Building Act. Two more buildings have their second storey closed.
Commercial insurance claims are expected to reach $26m, with 383 claims already lodged with the New Zealand Insurance Council.
"It is too early to tell the future of some buildings. The talk is that most can be repaired but a lot are still in limbo," Gisborne District Council construction consents administrator Ian Petty told The Gisborne Herald.
"It is up to the owner, the level of repairs required, how much their insurers are going to pay and how much will have to come out of the owners' pockets...and how deep those pockets are."
For some building owners, demolishing the building would be a cheaper option, he said.
Resource consents would have to be obtained for any repair or demolition work to earthquake-damaged buildings.
Domestic claims reported to the Earthquake Commission have reached almost $26m.
EQC insurance manager Lance Dixon said the commission had received an influx of last-minute claims this week.
Since January, the EQC has resolved 1791 claims and paid out $4.14m from a total of 5879 claims.
Meanwhile, Gisborne residents are being asked to hold on to any china broken in the earthquake for use in a mosaic seat to be created as a reminder of the big shake.
The idea came from jeweller Tony Field, who was left with a lot of broken china after insurance claims were settled.
Mosaic artist Erica Holden is working with the Arts and Public Places Trust Board to plan the project.
- NZPA
