Comprehensive car insurance comparison

This page is the result of a survey conducted by interest.co.nz in January 2016.

SEE OUR LATEST 2018 SURVEY HERE.

Note premium prices and cover are subject to change.

Interest.co.nz endeavoured to keep all factors as similar as possible during this comparison to ensure apples were being compared with apples. Any deviations from the set profiles interest.co.nz based the quotes on, are described in the ‘Assumptions’ column of the ‘Premium Price Comparison’ table.

Here is the related story.

Here are the quicklinks to both the cover and the cost for each insurance provider surveyed:

AA Insurance Cover Cost	AMI Cover Cost	ANZ Cover Cost	ASB Cover Cost	BNZ Cover Cost
State Cover Cost	Tower Cover Cost	Trade Me Cover Cost	Youi Cover n.a.	Westpac Cover Cost
Warehouse Money Cover Cost

Additional assumptions made when creating the profiles used to get quotes include:

Insured’s address: 206 Jervois Road, Herne Bay, Auckland (interest.co.nz office address)
No modifications done to car
Insured has experienced no car related incidents, thefts, losses, or driver licence suspensions, disqualifications or cancellations in last five years
No additional drivers are added to the cover
The vehicle is only used for private, not business, purposes
No money is owing on the vehicle

Note the ‘Policy Cover’ table is a summary of various policies, and doesn’t include all the benefits, terms and conditions. Click on the links in the table to view different insurance providers’ policy documents.

Note Youi wasn’t included in the premium price comparison, as it required us to answer questions other insurers didn’t ask in the quoting process. Had we answered Youi’s questions, we would have create different risk profiles to that which we used when getting quotes from other insurers, thus skewing the comparison.

PREMIUM PRICE COMPARISON (annual, incl GST)
Car model	1996 Honda Civic Vi Sedan 4DR Auto 4SP 1.5L 4 Cylinders No immobiliser		2005 Holden Commodore VZ Berlina Sedan 4DR Auto 4SP 5.7L 8 Cylinders Has immobiliser		2013 Toyota Corolla GX Sedan 4DR Auto 4SP 1.8L 4 Cylinders Has immobiliser		2015 Audi A4 MY15 S Line Avant 5DR Multitronic 8SP 1.8T 1.8L 4 Cylinders Has immobiliser		Assumptions
Agreed value of car	$2,000		$10,000		$21,000		$74,000
Insurance type	Comprehensive
Excess	$500
Driver age	30	50	30	50	30	50	30	50
Traditional providers
AA Insurance	$418	$358	$677	$578	$809	$690	$1,840	$1,569
AMI	$283	$251	$568	$507	$681	$608	$1,174	$1,052	Car is parked in the open – visible from road.
State	$310	$228	$628	$464	$723	$549	$1,261	$918	Includes $75 online discount.
Tower	$538	$450	$781	$654	$826	$699	$1,534	$1,300	Honda Civic based on agreed value of $2,970, Holden based on agreed value of $11,160 (lowest values in system).
New insurance providers
Trade Me Insurance	$424	$352	$724	$599	$682	$564	$1,223	$1,011	Includes 15% discount for Trade Me members. Assume car is parked in driveway and you drive between 10,000 and 20,000km a year.
Warehouse Money	$461	$362	$866	$654	$902	$680	$1,599	$1,182	Excesses: Honda: $400 Holden: $600 Toyota: $400 Audi: $800 Owner drives between 10,000km and 15,000km a year. The minimum agreed value it’s allowed for the Audi is $79,400.
Banks
ANZ	$551	$371	$1,366	$912	$1,271	$851	$2,530	$1,699	Car is not locked up in garage at night. Market value not agreed value. Coverage only offered for named drivers for Audi.
ASB	$393	$365	$653	$604	$792	$733	$1,183	$1,095	Excess: $300 for all
BNZ	$417	$396	$669	$635	$808	$767	$1,207	$1,145	Excesses: Honda: $300 Holden: $500 Toyota: $300 Audi: $750
Westpac	$515	$470	$665	$603	$779	$710	$1,285	$1,168	Market, not agreed value.

POLICY COVER COMPARISON

	AA Insurance	AMI	State	Tower
	Joint venture between the NZ Automobile Association (32%) and Vero New Zealand (68%), which is part of the Suncorp Group	Part of IAG	Part of IAG
MAIN COVER
Agreed or market value	Agreed value	Market or agreed value as outlined in policy.	Agreed value	Agreed value
Legal liability if you cause accidental loss or damage to someone else’s property. - Covers others driving your vehicle with your permission if they’re uninsured and not excluded from your policy. - Covers you when you’re driving someone else’s car.	Up to $20m - Includes legal costs. Cover for bodily injury to be included from April.	Up to $20m Up to $1m for accidental bodily injury. Up to $1,000 for legal defence costs if you’re charged with manslaughter or dangerous/careless driving causing death.	Up to $20m Up to $1m for accidental bodily injury. Up to $5,000 for legal defence costs if you’re charged with manslaughter, or careless/dangerous driving causing death.	Up to $25m - Includes up to $100,000 for accidental bodily injury. - Includes up to $1,200 for legal defence costs if you’re charged with manslaughter, or careless/dangerous driving causing death.
New vehicle replacement if vehicle is available in NZ	Will replace vehicle with same make and model if: - The vehicle’s less than a year old; and - The cost of repairing the vehicle is more than the Agreed Value, it is “uneconomic” to repair, or the vehicle’s been stolen.	Will replace vehicle with same make and model if: - The vehicle’s less than a year old; and - The vehicle’s travelled less than 20,000km; and - The cost to repair is greater than 60% of market value.	Will replace vehicle with same make and model if: - The loss happened within a year of you buying the car new; and - The vehicle’s uneconomic to repair.	Will replace vehicle with same make and model if: - The vehicle’s less than a year old; and - Tower accepts the claim.
Towing, transport & storage of vehicle after accident	Yes	Yes	Yes	Yes
Transport and temporary accommodation after emergency	Transport: Yes Accommodation: Up to $500	Transport: Yes Accommodation: No	Transport: Yes Accommodation: No	Transport and accommodation: Up to $500 for both
ADDITIONAL BENEFITS
Key/lock replacement	Up to $750 excess-free	No	Up to $300 excess-free	No
Excess protection - You don’t have to pay an excess if an identifiable driver of another vehicle causes loss	Yes	Yes	Yes	Yes
Excess-free broken glass replacement	Optional	Optional	Optional	Optional
Cover for drivers under 25. Under this policy unnamed under 25s who cause loss or damage to your vehicle usually have to pay a higher excess than named under 25s.	Yes Optional to pay a lower premium if you agree to have no cover for under 25s.	Optional. Excluded unless they’re named in the policy schedule. Cover available for higher premium.	Yes	Yes Optional to pay a lower premium if you agree to have no cover for under 25s.
Roadside assistance	Optional	AMI standard breakdown is now free for a year for all new customers and existing customers on renewal. Promotion ends 25 June 2016.	Optional	Optional
DEATH AND INJURY COVER
Medical costs	No	Optional	Covers you and your partner for up to a total of $500 for a single event.	Covers you for up to $600. Includes dental costs.
Accidental death and permanent disablement	No	Optional	Covers you and your partner for up to $2,000 if either of you were driving the car at the time of the crash. Up to $1,000 for permanent loss of use of a hand, foot or eye.	Covers you or partner for a total of $10,000 if either of you die.

	ANZ	ASB	BNZ	Westpac
	Underwritten by Vero	Underwritten by IAG	Underwritten by IAG	Underwritten by IAG
MAIN COVER
Agreed or market value	Market or agreed value	Agreed value	Agreed value	Market value
Legal liability if you cause accidental loss or damage to someone else’s property. - Covers others driving your vehicle with your permission if they’re uninsured and not excluded from your policy. - Covers you when you’re driving someone else’s car.	Up to $20m - Includes legal costs agreed to in advance.	Up to $20m - Includes legal costs. Up to $1m for accidental bodily injury - Includes court costs. Up to $1,000 for legal defence costs if you’re accused of manslaughter, careless/dangerous driving causing death.	Up to $20m - Includes up to $1m for bodily injury. Up to $10,000 for legal defence costs if you’re accused of manslaughter, careless/dangerous driving causing death.	Up to $20m Up to $100,000 for injury to another person. Up to $1,000 for legal defence costs if you’re accused of manslaughter, careless/dangerous driving causing death.
New vehicle replacement if vehicle is available in NZ	Will replace vehicle with same make and model if: - The vehicle’s less than a year old; and - Has travelled less than 15,000km; and - The cost to repair is greater than 60% of market or agreed value, or the vehicle’s been stolen.	Will replace vehicle with same make and model if: - You bought the vehicle new less than a year ago; and - It’s uneconomic to repair or has been stolen.	Will replace vehicle with same make and model if: - You bought the vehicle new less than a year ago; and - It’s uneconomic to repair or has been stolen.	Will replace vehicle with same make and model if: - You bought the vehicle new less than a year ago; and - The cost to repair is greater than 60% of market value, or the vehicle’s been stolen.
Towing, transport & storage of vehicle after accident	Yes	Yes	Yes	Yes
Transport and temporary accommodation after emergency	Transport and accommodation: Up to $500 for both	Transport: Bus and rail costs only. Accommodation: Up to $500 if you’re more than 100km away from home	Transport: Yes Accommodation: Up to $750	Transport and accommodation: Up to $500 for both. Transport allowance for hire car available for 14 days after your car is lost or being repaired.
ADDITIONAL BENEFITS
Key/lock replacement	Up to $1,000	Up to $500 excess-free	Up to $1,000 excess-free	Up to $1,000 excess-free
Excess protection - You don’t have to pay an excess if an identifiable driver of another vehicle causes loss	Yes	Yes	Yes	Yes
Excess-free broken glass replacement	Yes	Yes	Yes	Yes
Cover for drivers under 25. Under this policy unnamed under 25s who cause loss or damage to your vehicle usually have to pay a higher excess than named under 25s.	Yes Optional to pay a lower premium if you agree to have no cover for under 25s.	Yes Optional to pay a lower premium if you agree to have no cover for under 25s.	Yes Optional to pay a lower premium if you agree to have no cover for under 25s.	Yes Optional to pay a lower premium if you agree to have no cover for under 25s.
Roadside assistance	Optional	Optional	Optional	Optional
DEATH AND INJURY COVER
Medical costs	Covers you and your immediate family involved in crash. Up to $1,000 per person for medical and dental expenses.	Covers you and your partner for a total of up to $500.	Covers you and your family for a total of up to $500.	Covers you and your family for a total of up to $500.
Accidental death and permanent disablement	Covers you and your immediate family. Up to $5,000 per person and $15,000 in total for death, loss of sight or use of your hands or feet.	Covers you and your partner for up to a total of $10,000. Cover includes that for death, loss of sight, hands and feet.	Covers you for up to $10,000 for death, loss of sight or use of your hands or feet. Trauma cover for up to $500 per event if you or your family need to attend counselling due to an accident causing death or up to $5,000 for permanent disablement.	Covers you for up to $10,000 for death.

	Trade Me Insurance	Warehouse Money	Youi
	Underwritten by Tower	Underwritten by Vero
MAIN COVER
Agreed or market value	Agreed value	Agreed value	Agreed value
Legal liability if you cause accidental loss or damage to someone else’s property. - Covers others driving your vehicle with your permission if they’re uninsured and not excluded from your policy. - Covers you when you’re driving someone else’s car.	Up to $20m - Includes up to $100,000 for accidental bodily injury. - Includes up to $5,000 for legal defence costs if you’re accused of manslaughter, careless/dangerous driving causing death.	Up to $20m - Includes legal costs.	Up to $20m - Includes legal and defence costs.
New vehicle replacement if vehicle is available in NZ	No	Will replace vehicle with same make and model if: - You bought the vehicle new less than a year ago; and - The repair cost exceeds the amount covered, it’s uneconomic to repair, or it’s stolen.	Will replace vehicle with similar make and model, or provide cash equivalent if car is assessed as total loss within 2 years: - Since it was registered in your name and had less than 500km on the odometer; and - It had travelled less than 40,000km since it was first registered.
Towing, transport & storage of vehicle after accident	Yes	Yes	Yes
Transport and temporary accommodation after emergency	Transport and accommodation: Up to $500 for both.	Transport and accommodation: Up to a total of $500. Accommodation costs only paid if event happened more than 100km from your house.	Transport and accommodation: Up to a total of $1,000 if the event happened more than 100km from your house. Hire car for 14 days after theft.
ADDITIONAL BENEFITS
Key/lock replacement	No	Up to $1,000	Up to $1,000
Excess protection - You don’t have to pay an excess if an identifiable driver of another vehicle causes loss	Yes	Yes	Yes
Excess-free broken glass replacement	Optional	Optional	No, but there’s a discounted excess for windscreen damage.
Cover for drivers under 25. Under this policy unnamed under 25s who cause loss or damage to your vehicle usually have to pay a higher excess than named under 25s.	Yes	Yes	Yes. There are cases where Youi excludes certain drivers completely (e.g. based on car type and driver’s age). This is verbally conveyed over the phone when you buy insurance and also noted in the policy document.
Roadside assistance	Optional	Optional	Yes
DEATH AND INJURY COVER
Medical costs	No	No	No
Accidental death and permanent disablement	No	No	No

2 Comments

by kingsdog | 14th Jun 18, 8:31am 1528921917

https://www.moneyhub.co.nz/car-insurance.html has a few more details, but interesstNZ prices more cars....I switched to Trade Me all the same. thank you for providing this information.

by MattAKL | 5th Sep 22, 10:19am 1662329988

Any chance of a 2022 version? Add Cove Insurance, Initio Insurance, remove Youi, remove Warehouse etc?