New Zealand’s Best Car Insurance Revealed

None of us want accidents to happen or issues with our vehicles to occur but, when they do, it’s a relief to know car insurance policies have our backs. In the unfortunate event of a road accident, insurance gives us peace of mind and softens the financial blow of costly repairs.

While it’s not required that you insure your car in NZ, it’s a good idea to have at least some form of basic cover (such as third-party insurance). If you don’t, you could end up having to pay a lot of money to fix someone else’s car, as well as your own.

However, insurance doesn’t come cheap, and the levels of service offered by different providers can vary considerably. So, as part of our mission to inform consumers of the best car insurance providers NZ has to offer, Canstar canvassed the opinions of New Zealanders who have car insurance and have made a claim within the past three years across a range of categories, to measure and track their satisfaction.

To decide which car insurer offers the best level of customer satisfaction, each company was rated across the following categories:

• Overall Satisfaction
• Claims Outcome
• Claims Process
• Claims Lodgement
• Clarity of Policy
• Communication
• Quality of Service 
• Value for Money

Excelling across the board, FMG takes home Canstar’s award for Most Satisfied Customers | Car Insurance. The newcomer to Canstar’s awards blew away the competition in this year’s ratings, earning 5 Star ratings in every category. The only other insurance provider to earn 5 Star ratings is BNZ, with top marks for Claims Outcome and Value for Money. AA Insurance also deserves a mention, scoring highly with 4 Star ratings across the board.

What customers are looking for

While value for money is an important driver of satisfaction for respondents in our survey (24%), Quality of Service is paramount, at 25%. This is understandable for anybody who has been involved in any kind of road accident. Clear communication and a straightforward claims process definitely helps to reduce post-accident stress levels, and in our survey Communication ranks as the third most important driver of satisfaction, at 15%.

New Zealanders value being covered

Of our respondents, 70% say they think third-party car insurance should be compulsory for all drivers; 45% feel stronger penalties should be introduced for people who cause serious road accidents, and 39% admit to being regularly frightened by the way other road users drive.

What kinds of car insurance do Kiwis have?

Although comprehensive insurance isn’t mandatory in NZ, the majority of those in Canstar Blue’s survey say they opt for full cover: 86%. Just 11% have third-party, fire and theft, and even fewer have only third-party insurance (5%).

Of the different claims that were made by those in our survey, nearly half of respondents, 46%, made a claim to fix damage to their own cars, while 30% called on their insurance after being involved in an accident. In terms of costs, the average car insurance premium paid by our respondents is $830. To save money, half say they bundle their car and home and contents insurance with the same provider. 

Read the full results of Canstar Blue’s survey by hitting the button below, and if you’re in the market for a car insurance policy, drive with peace of mind knowing FMG has got you covered.

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