Extreme Weather
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@taniwharugby The insurance thing is quite scary. I am dealing with the renewal of premiums on the family properties and the premium is up over 10% on last year. The insured values (complete rebuild) we have covered at is over $150,000 more the current valuations supplied by registered valuers about six months ago mostly thanks to the insane costs of building materials etc. The same sort of thing applies to contents insurance. Little wonder people are struggling when that sort of thing happens (and don't get me started on Council Rates!) The insurance premium increases the good folk in Ta$man, BoP and Northland will undoubtedly be facing next year will not be nice, that is assuming they can even get any in the worst hit areas.
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@Higgins well, some valuations supplied by registered valuers are not that great either, many of those supplying them do so alongside a market valuation so thier qualifications to provide a rebuild one are a bit limited.
I believe there is a select committee looking at that issue presently....Quantity Surveyors are supposedly best qualified to provide the most accurate ones.
Evidence suggests 85% of NZers are underinsured, and some supposedly >50%.
As to your 10%, sadly that is about normal for many areas, but by the same token, down on the past few years increases most saw.
While less impact to residential consumers, some huge changes to Fire Service Levies in 2026 that will see large increases to the levy charged for those owning commercial property, down to how these are.charged as opposed to a rate increase.
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@taniwharugby In our case the rateable values are considerably in excess of the registered valuer's ones which is grating (we are in what is best described as a rural area, albeit on the very near boundary of what could be described as the "city limit" so it is only a smaller percentage of the valuation that belongs to "improvements"). We are fortunate in that my brother is a retired builder that is now a project manager so he was the one that has come up with the rebuuild value we have used for insurance purposes and we have full confidence in the figures he has provided.
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@Chris-B said in Extreme Weather:
@taniwharugby It has really been the cumulative at my place. We've had 500+mm in the past two months.
I still thought the river would have to come up another metre to get my house (and if it managed to do that there would be large parts of Richmond washing up in Wellington).
But, unfortunately, it broke its banks a km upstream - flowed across the plain until it reached the elevated SH6, which it couldn't cross - so it just took the path of least resistance down the side of the road and took out the houses in its path. Looked quite a lot like the footage of the Asian tsunami as it came across the paddock - and a very nasty WTF is that and where's it come from moment.
Any idea on the stopbank construction? I've a feeling it's a bit shit in NZ in general, it's the reason parts of HB got hammered in Gabriel.
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@delicatessen Yeah - it went over the top of the stopbank.
To be fair - the river was running at record levels - somewhere around 80-times its normal winter flow.
My house got built in 1860 and to the best of my knowledge the first time it's been flooded - then twice in a fortnight!
The bottom graph is the second major rain event - I think it went over the stopbank at about 350m3/sec.
Most recent rain event was starting to accelerate - another 50mms of rain would have sent it close to that level, because everything was running off.
https://www.tasman.govt.nz/my-region/environment/environmental-data/river-flow/waiiti-livingston
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This is a good page for weather mainly around the QLD area of things. Some cool stuff there.