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Canterbury and Wellington are being hit harder than Auckland by continued insurance price hikes that the industry says is partly outside its control.

Latest figures from Stats NZ show insurance premiums have increased 6% in the past year, compared to an overall inflation rate of 2.7%.

House insurance prices are up 9.1%, while contents insurance prices up 10.3%.

Insurance comparison website Quashed has seen average house insurance quotes rise 12% and average contents insurance quotes rise 3%.

The Insurance Council said insurance prices aren’t rising as fast as they were after the Auckland Anniversary Weekend floods and Cyclone Gabrielle and insurers are doing what they can to keep costs down.

“The impact of repair costs continues to run ahead of general inflation and taxes and levies, which are out of the control of insurers and account for around 40% of a premium,” a spokesperson said.

“Insurers are also moving toward greater risk-based pricing as more is known about natural hazards such as earthquake and flooding risks, which is also affecting premium levels.”

While Wellington has seen stark rises in insurance premiums in recent years, Canterbury is now seeing steeper hikes too.

Quashed’s data shows average house insurance quotes rising 18% in Canterbury, 13% in Wellington and 7% in Auckland.

“We’ve seen increases in Canterbury which outpace Auckland and even Wellington,” chief executive Justin Lim said.

Consumer NZ is calling for the Financial Markets Authority to investigate whether risk-based pricing is being applied fairly to all households.

It’s also calling for the Commerce Commission to carry out a market study into competition in the sector similar to previous studies into personal banking, residential building supplies, supermarkets and fuel.

“Our research shows people are dropping cover or being priced out entirely, and this will only get worse without serious intervention,” investigative team leader Rebecca Styles said.

Tower Insurance is the latest insurer to make an announcement about risk-based pricing, confirming changes that will see most customers pay less for insurance each year.

The Insurance Council said some properties will cost more to protect than others, with premiums being based on a range of risk factors.

“Properties on flood plains or near major rivers are more prone to flooding during heavy rainfalls, while those in regions with higher seismic activity are more susceptible to earthquake damage,” it said.

Michael Sergel is a senior reporter and radio news director for ��һ�ǿ�����talk ZB, usually based in Auckland. Michael has been covering business, politics, local government and consumer affairs for more than a decade. He joined ��һ�ǿ����� in 2013.