Only a fraction of NSW residents living in bushfire zones have checked their insurance policies to make sure they have proper coverage since last year's devastating bushfire disaster.

As a result, some homeowners risk falling short by more than $100,000 if they lose their property in a blaze, a leading insurer claims. Insurance company GIO says changes to building regulations to make homes more bushfire resilient could add up to 25 per cent to the rebuilding cost. “Checking…