Car insurance up 20% home / contents insurance up 30%

Forums › Transport (cars, bikes and boats) › Car insurance up 20% home / contents insurance up 30%

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dfnt

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#3070137 1-May-2023 19:24

Yep I found quashed useless if you have house and contents under the same policy

It also found no cheaper alternatives for car insurance, which has gone up quite a bit

concordnz

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#3070178 1-May-2023 21:28

Insurance companies make sure they don't lose.
Be very wary of IAG group of companies. Ive had to take a reasonably straightforward claim for electronics damaged in a power cut/surge, to the Insurance Ombudsman...
They keep changing their reason for decline, as errors in their view were pointed out.
I'll never insure with them again.

Scott3

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#3070186 1-May-2023 21:56

kobiak:

alasta:

but then I figured that the entire industry is probably increasing premiums as they must be getting smashed with claims recently.

I strongly suggest to compare quotes. as I found over the years, the difference could be upto 50% cost.

quick compare for my car (15 yrs old SUV)

- tower $430 comprehensive
- state $690 comprehensive

rather insane difference.

Note that the cover is not like for like.

As an example, tower has a blanket exclusion for off road use (other than launching trailer boats).

GV27

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#3070703 3-May-2023 07:56

Have decided to ringfence the value of our excesses in a separate account and effectively self-insure, and push our excesses way up to keep things affordable.

Have to have car insurance one way or the other, but it's getting to the point where we will downsizing the number of cars in our house to get our insurance costs down. Having a runabout or a toy isn't something I can justify anymore.

ElSegundo

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#3070889 3-May-2023 16:15

Move to Manurewa and it could jump up another 40%: https://www.banked.co.nz/new-zealands-insurance-poverty-premium

timmmay

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#3364089 14-Apr-2025 20:38

Home and contents insurance is going up, up, up again! They're up 23% in the past 12 months, and in four years the state insurance premiums have risen by 84%. That's crazy. Comparing with AA Insurance the premiums are very similar.

(2021) $2,875
(2022) $2,975
(2023) $3,800
(2024) $4,300
(2025) $5,300

Car premiums have had relatively mild rises in comparison.

(2021) $695
(2022) $692
(2023) $812
(2024) $903
(2025) $897

I don't see insurance as optional, but I can see it getting tough for many to afford.

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kiwi_64

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#3364098 14-Apr-2025 21:36

Interesting. I too am with State, in Wellington, and I was amazed to see that my house/contents actually went down this year.

Off to buy lotto, I guess!

mattwnz

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#3364104 14-Apr-2025 22:26

Seems to be a lack of competition and market consolidation. A lot of the brands seem to be operated by a few parent companies

vexxxboy

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#3364119 14-Apr-2025 22:38

My car insurance dropped nearly a $100 a year and house coverage about a $120 a year drop with AA , quite surprised.

Common sense is not as common as you think.

lNomNoml

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#3364122 14-Apr-2025 23:54

rscole86: I've just seen the same with Trademe insurance, I'm eligible for the multi discount and Trademe member discount. I think the total discount was around $100 over the years premium.

I'm yet to shop around again, but when I switched two years ago no one could beat Trademe, including going through a broker.

I'm in the same boat, will need to start looking around for cheaper deals.

JPNZ

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#3364134 15-Apr-2025 08:12

vexxxboy:

My car insurance dropped nearly a $100 a year and house coverage about a $120 a year drop with AA , quite surprised.

My work coverage through a broker, for vehicles, commercial property and stock/tools was down around 25% from $160,000 to $120,000 for year ending 31/3/26

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