Car insurance isn’t a legal requirement, but it’s still a must-have. Basic plans can cost as little as a few dollars a week, but can save you thousands if an accident occurs. But with so many plans and providers, finding the right car insurance can be a challenge. That’s why, each year, Canstar awards the best car insurance providers and products our 5-Star Awards for Outstanding Value.
In this article, we break down which providers earn high marks in our Awards for Outstanding Value, across different driver demographics, so you can find outstanding insurance cover for you, your car and your family.
In this article we cover:
Which car insurance policy is right for you?
Things to consider and how to get the best deals
Young drivers’ car insurance
Insurance for over 25s
Insurance for over 50s
Which car insurance policy is right for you?
When it comes to car insurance, it’s not a one size fits all. And you’ll need to consider what will best suit your needs. Firstly, you need to decide on what type of policy you want: Third Party, Third Part Fire & Theft, or Comprehensive.
Third party car insurance
Third-party car insurance is your most basic cover. It’s not designed to provide insurance for your vehicle, but rather other people’s. So if you cause an accident, it will insure you for the cost of replacing or repairing the other person’s vehicle or property. It will not, however, cover the cost to repair your own vehicle.
Third-party is by far the cheapest plan. As such, it may be suitable if you have a limited budget, or if your car isn’t worth much and you could replace it without much financial strain.
Third Party Fire & Theft
As the name suggests, this policy includes third-party cover, plus cover for fire and theft. This gives some extra security against the total loss of your car. But again, in the case of an accident, your own vehicle will not be covered.
If you are on a limited budget or your car is not worth much, but you leave your car in a high-theft area, or have no secure, off-street parking at your house or work, this could be a better option than standard third-party insurance.
Comprehensive
If you can afford comprehensive coverage, you should go for it. With this policy, you are protected against fire and theft, along with cover for your own vehicle and anyone else’s. This means if you cause an accident, your car, and anyone else’s car will be repaired or replaced.
If you are going to look at comprehensive car insurance, it pays to see what add-ons and benefits are available, as comprehensive policies vary greatly.
Things to consider and how to get the best deals
Once you’ve decided on the type of car insurance needed, there are a few more things to consider:
- Does the plan allow for flexible excess? Increasing excess can lower your premiums
- Do you have to pay for the added benefits? Many policies offer benefits, like roadside assistance and excess-free glass repair. Some policies include it in the price, others make you pay for it as an add-on
- Can you exclude young drivers? Doing so can lower your premiums
- Is your car modified? Not all insurers will cover you if you have a modified vehicle. And of those that will, the premiums can vary greatly. When shopping for car insurance you need to be upfront about any modifications you have made
- What other insurance policies do they offer? If the provider does more than just car insurance, you may be able to bundle home and contents or other policies, for a discount
If you’re interested in saving money on your car insurance, you can check out our other story Cheap Car Insurance: Tips to Save You Money for a comprehensive guide on ways to lower your car insurance costs.
The best car insurance in New Zealand
Below we have outlined the 5-Star winners of our Outstanding Value award for 2024, by demographic. The tables shown are an abridged version of our research result, and do not list the full range of providers rated.
You can the full results of our 2024 Car Insurance Ratings and Awards here.
The best car insurance: Young drivers
→Related article: Car Insurance for Learner Drivers
The best car insurance: over 25s
NZ 25- to 29-year-old Driver
NZ 30- to 49-year-old Driver
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NZ +50-year-old Driver
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About the author of this page
This report was written by Canstar Content Producer, Andrew Broadley. Andrew is an experienced writer with a wide range of industry experience. Starting out, he cut his teeth working as a writer for print and online magazines, and he has worked in both journalism and editorial roles. His content has covered lifestyle and culture, marketing and, more recently, finance for Canstar.
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