Sunday’s magnitude 5.7 earthquake may have come as a surprise to many of us, however it serves as a timely reminder that occasional jolts are part of the ‘new normal’ we’ve all tried to get accustomed to following the events of 2010 and 2011. After significant shakes like the one on Sunday, it’s important we remember to continue to look out for each other, especially those who are alone, infirm or need extra support.
As far as property damage and claims go, The Press reports:
Insurance claims after the quake on Sunday are close to 500, said earthquake minister Gerry Brownlee after a briefing by the Earthquake Commission.
There have been 496 claims in total as at Monday afternoon for damage caused by the 5.7 magnitude earthquake that rocked Christchurch.
If you’re currently in the process of buying or selling a property (i.e. have a contract in place), our advice is to check the property in the first instance. If you have any concerns, it would pay to have to have a more thorough inspection carried out by a suitably qualified professional. You have three months to lodge a claim with EQC, and it will be imperative to have a claim lodged if there is any damage prior to settlement, so that such claims can be assigned to the new owner. Broadly speaking, it appears the majority of Christchurch properties (save a handful in a few localised spots) weren’t significantly affected by Sunday’s event.
Results from this week’s auctions suggest buyers were largely unperturbed with 13 properties from 17 selling under the hammer at Harcourts Gold, 7 from 11 at Harcourts Grenadier and 12 from 17 at Harcourts Holmwood. Even uninsured properties sold well with competitive bidding this Thursday.
As far as insurance goes, we’re yet to hear of any reports of tightened criteria or stand-down periods as a result of the recent seismic activity, which is encouraging. See also: ‘Christchurch earthquake: Insurers not expecting big claims’
All in all it’s simply a case of back to business as usual. As we approach the 5th anniversary of the February earthquake let’s get on with doing out bit to making Christchurch the first class city it’s set to become!