Canstar Reveals NZ’s Best Value Car Insurance 2022

Let Canstar’s 2022 Outstanding Value Car Insurance Star Ratings be your guide to the best car insurance available in New Zealand.

If you are searching for the best value car insurance, then look no further than Canstar’s 2022 Outstanding Value Car Insurance star ratings.

Many people are put off researching a better car insurance deal because of the hassle of comparing different providers and the complicated procedure of obtaining quotes. Indeed, our latest research reveals that just 19% of car insurance customers have looked for a better deal.

But that’s where Canstar can help. We take the hard work out of finding the best policy by doing the research for you. This year, our expert panel of analysts researched 11 different insurance providers and policies, across six consumer profiles:

  • Under 25: female driver
  • Under 25: male driver
  • 25-29 driver

  • 30-49 driver
  • Family with young driver
  • 50+ driver

Using a sophisticated and unique ratings methodology that compares both price and features across Comprehensive car insurance products, our team has drawn up a shortlist of top products and providers.

This enables canny consumers to narrow their search to just the best products that have been assessed and awarded Canstar’s 5-Star ratings for Outstanding Value Car Insurance.

From the results of this year’s research, three car insurance providers have earned our top 5-Star Ratings for Outstanding Value products:

  • Tower
  • TradeMe
  • FMG Insurance

Tower Car Insurance


Tower continues to offer policyholders a high level of cover for a competitive premium. This has led to them not only winning an Outstanding Value Award, but also Canstar’s prestigious 2022 Car Insurer of the Year Award.

Click here for more on our Insurer of the Year Award

Tower’s Outstanding Value Ratings:

  • Under 25 Female Driver – 5 Stars
  • 25-29 Driver – 5 Stars
  • 30-49 Driver – 5 Stars
  • 50+ Driver – 5 Stars
  • Under 25 Male Driver – 4 Stars
  • Family with Young Driver – 3 Stars

Tower Car Insurance

What Tower offers:

Tower offers customers a choice of three car insurance policies: Comprehensive; Third Party, Fire & Theft; and Third Party cover.

All of Tower’s car insurance policies provide cover for legal liability, and damage caused to your vehicle by an uninsured vehicle (policy limits apply). Tower also offers a no-claims benefit on all its policies, so if you don’t make any insurance claims, you can expect lower premiums.

Additionally, Tower offers customers optional benefits such as access to its 24-hour RoadWise roadside assistance and a windscreen excess buyout.

Tower also offers the ability to earn one Airpoints Dollar for every $100 spent on your premium, and a range of great online resources. Its MyTower site makes managing your insurance easy, and its innovative GoCarma driving app rewards you with lower excess fees.

Tower’s Comprehensive cover includes:

  • Lost or stolen keys: up to $1000 cover, with no excess to pay
  • Damage caused by an uninsured vehicle
  • Transport costs: if you are unable to drive your vehicle following an accident, Tower provides up to $500 of cover for transport and accommodation costs to get you home
  • Repair guarantee: Tower will cover repairs for life (if completed by one of its recommended repairers)
  • Replacement car seats up to $750
  • One event one excess

Click here for more on Tower's Insurer of the Year Award


trade me insurance logo



TradeMe offers competitive premiums across a range of risk levels, taking out price leader in all profiles except for Family with Young Driver. This has led to TradeMe once again winning an Outstanding Value Award.

TradeMe Insurance’s Outstanding Value Ratings:

  • Under 25 Female Driver – 5 Stars
  • Under 25 Male Driver – 5 Stars
  • 25-29 Driver – 5 Stars
  • 30-49 Driver – 5 Stars
  • 50+ Driver – 5 Stars
  • Family with Young Driver – 3 Stars

trade me insurance logo

What TradeMe Offers:

TradeMe Insurance offers customers a choice of three car insurance policies: Comprehensive; Third Party, Fire & Theft; and Third Party.

Additionally TradeMe Insurance has a range of optional add-ons, such as roadside assistance, discounts for excluding under 25s, cover for accessories and modifications made to your vehicle, and excess-free glass cover.

TradeMe Insurance’s Comprehensive cover includes:

  • Cover for the agreed value of the vehicle
  • Towing and temporary storage
  • One event one excess
  • Transport costs up to $500
  • Excess free if car is stolen from a locked garage
  • Natural disaster damage

TradeMe Insurance’s optional Comprehensive policy add-ons include:

  • RoadWise roadside breakdown service
  • Windscreen and window glass excess buyout
  • No cover for under-25 drivers discount
  • Accessories and modifications (up to $5000)
  • Rental vehicle hire after loss of use (up to $1000)


FMG Insurance

FMG Insurance strongly leads the Families with Young Drivers profile, as well as offering great value in the Under 25 Male profile. Outside these profiles, they remain competitive, resulting in their Outstanding Value Award.

FMG’s Outstanding Value Ratings:

  • Under 25 Female Driver – 5 Stars
  • Under 25 Male Driver – 5 Stars
  • 25-29 Driver – 5 Stars
  • Family with Young Driver – 5 Stars
  • 30-49 Driver – 4 Stars
  • 50+ Driver 4 Stars

FMG is also the winner of Canstar’s Most Satisfied Customers | Car Insurance Award 2022

Most Satisfied Customers Award | Find out more

What FMG Offers:

FMG Car Insurance is primarily focused on rural New Zealand. However Kiwis across the country can also enjoy FMG’s award-winning customer service.

FMG offers customers two insurance plans: comprehensive insurance (FMG Superior Private Vehicles policy), and Third Party, Fire & Theft (FMG Essential Private Vehicles policy).

It also offers a range of automatic benefits that many other insurers include as an add-on, such as excess free glass cover. FMG’s Superior Private Vehicles policy is a top level of cover for personal-use cars and vehicles. It also covers trailers, horse floats, caravans and motorhomes.

FMG’s Superior Private Vehicles cover includes:

  • Liability cover for you and approved drivers for damage caused to others’ property or person
  • No excess for glass claims to repair or replace damaged windscreens and other vehicle glass
  • No excess on replacement locks and keys if lost, stolen or damaged
  • Misfuelling or fuel contamination covers the cost of breakdown or failure caused by accidentally using the wrong fuel
  • Optional benefits include hire charge cover, up to $100 a day for 30 days to hire a replacement vehicle while your vehicle is getting repaired

Click here for more on our Outstanding Value Car Insurance Ratings

About the author of this page

Bruce PitchersThis report was written by Canstar’s Editor, Bruce Pitchers. Bruce began his career writing about pop culture, and spent a decade in sports journalism. More recently, he’s applied his editing and writing skills to the world of finance and property. Prior to Canstar, he worked as a freelancer, including for The Australian Financial Review, the NZ Financial Markets Authority, and for real estate companies on both sides of the Tasman.

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