Car Insurance NZ

Car Insurance NZ

In New Zealand, you are not mandated by law to have car insurance. However, you should really consider getting insurance to help protect you against major financial loss in the event an accident is deemed your fault. Car insurance in NZ can be fairly cheap and is a worthy investment for your future.

How Much Is Car Insurance In NZ?

The cost of your in NZ will depend on a few different factors. These include the level of coverage, your excess, any add-on coverages, type of vehicle, your driving history, your credit score, your payment schedule, your personal information, and the insurance company you go through. With so many varying factors it can seem quite unsettling to discover the ideal policy for you.

As a general guideline, the comprehensive coverage runs between $600 NZD and $1000 NZD annually. The third party insurance runs between $300 NZD and $500 NZD annually. Again, these are just rough estimates and will vary depending on the factors listed above.

What Are The Most Common Car Insurance NZ Providers?

There are many different providers you can get car insurance from in the country of New Zealand. The most popular include The AA, State, Tower, and FMG. We recommend checking in with all these insurance companies before agreeing to a specific contract. Different providers will offer different prices as they weight each of the factors listed above differently in their assessment quote.

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Ways To Reduce Car Insurance NZ Premium Payment Amounts

The premium, or payment, you make for your car insurance NZ can be drastically reduced with a few implemented tactics. Let’s take a look at what you can do to decrease your car insurance NZ rate below.

Pay Annually – One of the simplest ways to reduce your car insurance cost is to pay the premium annually. Most insurers will pay monthly premiums, which cost more in the long run. This is because car insurance NZ providers charge small administration fees to process your monthly bill. By prepaying annually you can take advantage of fewer fees and typically providers will offer a discount for the prepayment.

Keep A Clean Record – By keeping a clean driving record you can continually reduce your car insurance NZ rate. If you have not had a rate reduction in the past few years and have kept a clean driving record, it’s time to call your insurance company. Most will automatically decrease your payment amount as the years pass, others may not reduce your rate unless you call them to request a deduction.

Opt For E-Statements – Many insurance providers are now tacking on an administration fee to send you a paper copy of your statement. To avoid this added surcharge you should opt for e-statements. This is one simple switch that can save you money throughout the year.

Hopefully, you have learned a lot about car insurance in NZ and are now prepared to go search for the best policy to fit your needs.

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