Insurers have paid out nearly $77 million on claims for storm damage in the first half of this year, the Insurance Council of New Zealand says.
The final insurance cost of damage from the storm that hit Canterbury and the lower North Island on March 4 and 5 was $22.5 million, taking the total storm-related insured payouts for the first six months of the year to $76.9 million, chief executive Tim Grafton said.
Insurers settled more than 4000 claims for the Canterbury storm paying out $21.6 million - including $15.2 million in domestic claims and $3 million in commercial material damage for the region.
"Insurers have this year paid out $76.9 million settling more than 15,800 weather-related damage claims which highlights the role insurance plays in responding to claims and helping New Zealanders to get back on their feet after major storms and extreme weather events," Mr Grafton said.
Last year, more than $174 million was paid out in weather-related damage claims, making it the second most costly year for insured weather losses since the council started tracking the losses on a regular basis in 1968.
