Real estate agents say some people buying new properties in Canterbury are having trouble getting insurance cover in the wake of last Saturday's earthquake.
Most insurers have introduced a 21-day stand-down period for quake damage, and at least one company, AMI, is refusing to accept any new customers.
AMI says it's doing that until the future risks to property are understood.
The company's chief executive, John Balmforth says people who haven't been previously insured present a potential liability.
"There is a particular risk that people may seek insurance on properties that are already damaged and then seek to claim on those policies once they are put in place."
Mr Balmforth says AMI is concentrating on supporting its existing customers for the time being.
Tower's stand-down period applies to properties between Cheviot and Ashburton.
The Real Estate Institute of New Zealand says some property deals may fall through because buyers can't arrange insurance.
REINZ's Christchurch-based director, David Rankin, says it may be possible in some cases to transfer insurance from the vendor to the new owner, and lawyers can advise.
However, the Insurance Council says people in the process of buying a home in Canterbury should still be able to get insurance.
The council says once the industry realised stand-down periods were creating problems, it moved to provide more flexible options.
Chief executive Chris Ryan says insurers removed cover for further quakes for 21 days to protect themselves against new customers lodging claims for damage already done.
He says this created problems for people trying to buy or sell homes, and most companies are now offering more flexible arrangements.
Mr Ryan says it will probably be next week before the industry is able to give a definitive estimate of the total cost of the earthquake.
