Motoko Kakubayashi joins us from Toyko where they are also about to mark a significant anniversary. A few weeks after the 2011 Christchurch earthquake, a magnitude 9.0 earthquake hit the east coast of Japan, triggering a tsunami that destroyed large parts of the coast, including damage to the Fukushima Dai-ichi Nuclear Power Plant. More than 15,000 lives were lost, more than 2000 still remain missing. In one afternoon, half a million people became homeless, and the search for family and friends at evacuation shelters began.
New Zealanders are paying too much for house and contents insurance, according to a new survey. Consumer NZ's price comparison survey shows climate and natural hazard risk is being factored in, and is more expensive than ever. Quotes for a large house differed by more than $3,000 across Auckland, Hamilton, Wellington, Christchurch, and Dunedin, and there's a more than $2,000 difference between the cheapest and most expensive policies on offer for a standard-sized house. If you live somewhere with a higher chance of earthquakes - such as Wellington or Christchurch - you'll be charged more for insurance. The cost of house and contents insurance has risen by 5.6% this year, over the past ten years it's gone up 150%. Kathryn is joined by Consumer NZ's Gemma Rasmussen and Katrina Shanks Chief Executive of Financial Advice New Zealand, which represents independent and professional financial advisors.
