A Wellington couple are trying to figure out why the premium for their house insurance has soared from just over $2,000 a year to more than $7,000. Tower warned in April that customers in quake prone areas would have to pay more as it switched to what it calls risk-based pricing. Ursula Egan expected her bill would go up a few hundred dollars, but was shocked to be told of the new premium. We asked Tower to respond. They directed us to a media statement from March in which the company said locations facing higher risk from natural disasters will have to pay more under a new pricing system than areas where the risk is lower. At the time, the head of Tower, Richard Harding, said the insurer believed risk-based pricing was the fairest way to distribute the costs the company faces and was, they said, an important step in better educating the community on the risks facing New Zealand.