Levy is payable on all contracts of fire insurance for all assets insured in New Zealand.
Levy is currently calculated at 7.6 c per $100 sum insured. This is subject to upper limits for a number of items such as:
Where the indemnity value of the assets is less than the sum insured, levy must be paid on the indemnity value of the assets insured.
GST is payable in addition to any amount of levy. The current rate of GST is 15%.
Should you require any further information, please consult with the guide for any specific details, or failing that, email us with any specific questions