Home & Contents Insurance

Compare Home & Contents Insurance in New Zealand at Canstar. FMG, AA Insurance, AMI, AMP, ANZ, ASB, BNZ, NZI, State, Tower, Westpac and Vero were compared on Overall Satisfaction, Communication, Comprehensiveness of Cover, Cost, Customer Service and Value for Money.

Rated brands

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Customer Service

Value for Money

Communication

Comprehensiveness of Cover

Cost

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*Overall satisfaction is an individual rating and not a combined total of all ratings. Brands with equal overall satisfaction ratings are sorted by the mean overall satisfaction score as rated by consumers. Canstar research finalised in June 2022, published in August 2022.

See our Ratings Methodology.

Most Satisfied Customers Award | FMG

FMG rated number one for customer satisfaction

FMG NZ’s Best Home and Contents Insurer

While you can’t foretell the future, you can ensure your most valuable assets will always be protected. Like all types of insurance, great home and contents cover is something that you only appreciated fully when misfortune strikes. In the event of theft, fire or natural disaster, the financial security that it provides alleviates undue stress and ensures that you can concentrate on the important task at hand: re-establishing your family home.

However, while most Kiwis have home and contents insurance (72%), it’s easy to lose track of your policy’s details. According to Canstar’s latest research, just under half of policy owners (49%) fully understand their levels of cover, and fewer still, just 40%, review their home and contents policies annually. But while it’s easy to set and forget, having too much cover, or too little, can, in the long run, cost you dearly.

So if you’re not up-to-date with the finer details of your home and contents cover, isn’t it time to check you’re adequately covered? And that’s where Canstar can help.

As part of our mission to inform consumers of the best NZ has to offer, each year we ask home and contents policy holders to rate their satisfaction with their insurers.

This year, Canstar canvassed the opinions of 2414 New Zealanders who pay for home and contents insurance, and asked them to rate their insurers across a range of categories, to measure and track their levels of customer satisfaction.

To decide which home and contents insurance provider offers the best level of customer satisfaction, each was rated across the following categories:

  • Overall Satisfaction
  • Communication
  • Comprehensiveness of Cover
  • Cost
  • Customer Service
  • Value for Money

Coming out on top is FMG, the clear winner of Canstar’s 2022 award for Most Satisfied Customers | Home and Contents Insurance.

This year FMG is the only insurance provider in our award ratings to earn a top 5-Star score for Overall Satisfaction. It’s a mark of excellence reflected by its performance across all rated categories. In each, FMG’s customers award the insurer a perfect score.

It’s worth noting that out of the 12 insurers judged in this year’s award, FMG is the only provider to earn any 5-Star ratings at all.


What Kiwis Want From Their Insurers

While cost is always an important factor for consumers, a trend we’re seeing across all of Canstar’s ratings is an increased emphasis on Value for Money.

Reflecting this trend, this year, Value for Money is on par with Customer Service as one of the two top factors driving insurance customers’ satisfaction levels with their providers.

Communication and Comprehensiveness of Cover are also major factors, more so than just policy price.

That Customer Service rates so highly is not a surprise, as most people’s only contact with their insurer is during a time of stress, when sympathetic and engaging customer service is critical to ease the claims process.

Overall, the main drivers of satisfaction are:

FMG NZ’s Best Home and Contents Insurer

What’s covered by FMG’s Home Policy?

No excess on replacement locks and keys

If your house keys, locks, or electronic keypads are lost or stolen.

Gradual damage
Up to $5000 for hidden damage caused over time by leaking internal plumbing.

Retaining walls
$20,000 to repair or replace retaining walls

Inflation protection
Sum insured is automatically adjusted for inflation at time of renewal

As NZ’s leading rural insurer, FMG’s Home Policy pays special attention to risks faced by rural residential. This includes additional structures, such as:

  • Garages
  • Sheds
  • Gates
  • Fences

  • Patios
  • Driveways
  • Septic tanks

FMG’s policy also covers damage caused by natural disasters, including earthquakes, tsunamis, hydrothermal activity, or landslips. If the loss to your home is also covered by the Earthquake Commission, FMG will pay the difference between your EQCover and the cover you have under their policy.

FMG’s policy also automatically covers your legal liability for damage or loss you cause to someone else’s property, or accidental bodily injury to another person, at your section.

Option extras include:

  • Excess-free cover for the accidental breakage of glass and bathroom fittings
  • Matching floor coverings, to ensure your flooring matches throughout your home if one area needs replacing

What’s covered by FMG’s Contents Policy?

Hearing aids, glasses or dentures
Up to $5000, or higher agreed value for loss of hearing aids, prescription glasses and dentures.

Liability
Cover for your legal liability for injury to others and loss of their property.

Matching pairs and sets
If you can’t find a replacement item for a furniture pair or set, FMG will cover replacement of the full set.

Current value for computers and cellphones
If you choose not to repair or replace these items, or if they’re more than three years old, FMG will pay present day value of up to $5000.

The policy covers your personal effects if they’re damaged or destroyed, as well as covers your legal liability, including you as a tenant, if you accidentally damage someone else’s property, or injure somebody.

In the event FMG agrees your house cannot be lived in following a loss, it will pay up to $30,000 for temporary accommodation costs. If all your contents are destroyed, it will make an upfront $5000 advance payment within 48 hours of accepting your claim.

So wherever you live in New Zealand, if you’ve not checked your home and contents level of cover recently. Or are not happy with your current provider and are looking for a new insurer that delivers on the key factors of Customer Service and Value for Money, why not seek out greener pastures with FMG, the winner of Canstar’s 2022 award for Most Satisfied Consumers | Home and Contents Insurance.

 

Types of insurance held

Home and Contents: 72%

Contents: 20%

Building Only: 7%

Average Monthly Spend: $168

Key statistics

Confident that have enough home and contents insurance: 58%

Understand policy documents and what insurance covers: 49%

Bundle insurance with same provider to lower premiums: 47%

Review level of home and contents cover every year: 40%

Home and contents insurance only there to cover major disaster/accident: 34%

Pay insurance premiums yearly for the policy discounts: 32%

Increased excess to lower premiums: 17%

Claimed on home and contents insurance due to burglary: 8%

Have a web-based security alarm system: 8%

Have made a major claim on home insurance due to an accident: 6%

Have had claim turned down: 4%

Canstar Blue surveyed 5000 New Zealand consumers across a range of categories to measure and track customer satisfaction, via ISO 26362 accredited research panels managed by Qualtrics. The outcomes reported are the results from respondents who pay premiums for home and contents insurance. In this case, 2414 New Zealanders. Brands must have received at least 30 responses to be included. Results are comparative and it should be noted that brands receiving three stars have still achieved a satisfaction measure of at least six out of 10. Not all brands available in the market have been compared in this survey. The ratings table is first sorted by star ratings and then by mean overall satisfaction. A rated brand may receive a ‘N/A’ (Not Applicable) rating if it does not receive the minimum number of responses for that criterion.

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