The country's largest general insurer, IAG New Zealand, it already has more than 1,000 separate claims under management as a direct result of this week's ferocious storms.
The insurer, better known through its insurance brands of State and NZI, says claims enquiries were up by 30% after violent weather lashed the country.
The cost of storm damage has been estimated at around $100 million.
Insurance Council Chief Executive Chris Ryan says that figure does not include the costs for those who are un-insured.
IAG says it expects to have a clearer picture of property damage costs by the end of the week. Chief Executive David Smith says the weather is making it difficult to conduct early claim assesments.
"The challenge is actually getting our people into properties to assess damage. Like those impacted by the evacuations, we're only now getting access in many cases," said Smith.
The majority of damage relates to wet carpet in flooded houses, submerged motor vehicles and commercial claims, the company says.
Flooding is the most significant cause of claims disasters in New Zealand, attributing for more than 65% of all weather related claims.
IAG shares were trading on the ASX at A$4.41, down 3c, at 2pm on Wednesday.
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