Home & Contents Insurance

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

Rated brands

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Value for Money

Ease of Claim

Cost

Comprehensiveness of Cover

Customer Service

Communication

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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 Blue research finalised in July 2021, published in August 2021.

See our Ratings Methodology.

Most Satisfied Customers Award | AA Insurance

AA Insurance rated number one for customer satisfaction

AA Insurance Keeping Your Home & Contents Safe As Houses

From the risks of unexpected events to uninvited thieves, our homes are not always as safe as proverbial houses. Floods, fires, wind and household accidents all threaten the sanctity of our homes. But thankfully, home and contents insurance is there to ensure that our losses are covered. According to Canstar’s latest research, around half of New Zealanders have made a claim on their home and contents insurance over the past six years.

As recent extreme weather events in the country have highlighted, home and contents insurance is primarily a defence against nature. It’s a fact backed by our data. Just 9% of claims are a result of crime, and 6% the result of accidents. Indeed, 34% of those in our survey state that their home and contents insurance is there primarily to cover for a major disaster.

Our latest data shows that:

  • 71% have home and contents insurance
  • 18% just contents insurance
  • 10% home (building-only) insurance

But while most of us (58%) are confident that we’ve enough cover, that still leaves 42% who have no idea if their level of cover is sufficient. And far fewer of us, 37%, regularly review our insurance. This suggests a lot of people could be getting a better deal by shopping around.

So as part of our ongoing mission to inform consumers of the best NZ has to offer, this year Canstar canvassed the opinions of 2330 New Zealanders who pay for home and/or contents insurance, across a range of categories, to measure and track their satisfaction.

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

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

Coming out on top is AA Insurance. The clear winner of Canstar’s 2021 award for Most Satisfied Customers | Home and Contents Insurance, AA Insurance is the only insurer in this year’s ratings to earn a 5-Star rating for Overall Satisfaction.

Across the board it scores top marks in each category, except for two, Ease of Claim and Communication, for which it earns 4-Stars.

Also highly commended in this year’s ratings is last year’s winner FMG, which, like AA Insurance, scores all 4- and 5-Star ratings.

What Kiwis Want From Their Insurers

The main purpose of insurance is to provide reassurance. You want to be able to sleep soundly knowing that in the event of a calamity you’re financially covered and are not going to have your claim turned down.

This is reflected in what drives Kiwi insurance customer’s satisfaction with their providers. Even more than Value for Money and Cost, Comprehensiveness of Cover is a top concern. In this year’s research it ranks equally with Customer Service – another all-important factor.

For when making a claim, you don’t want to come up against red-tape, inaction and, even worse, find yourself listening to muzak while on hold for long stretches. Overall, the full drivers of customer satisfaction:

Drivers of satisfaction

%
Comprehensiveness of Cover

19%

Customer Service

19%
Value for Money

18%

Communication

17%
Cost

16%

Ease of Claim

11%

AA Insurance: Protecting Homes and Families

This year’s award winner, AA Insurance, offers three different home and contents products:

Home Insurance

This policy includes Replacement Cover, unless the damage to your home is caused by a natural disaster. Replacement Cover protects you against the cost to rebuild or repair your house. You are also covered for temporary accommodation if your house is damaged to the extent that it’s uninhabitable.

You’re eligible for replacement of keys and locks following a burglary, theft or loss. Minor renovations and unfixed building materials for renovations under the total value of $75,000 are also covered. At an extra cost, you can add Excess-Free Glass Cover, meaning you don’t need to pay an excess for damage caused to windows and doors.

Contents Insurance

This replaces most items that have been lost, stolen or damaged, with the nearest equivalent if they cannot be repaired. You are also covered for the cost of personally owned business tools and professional equipment. There is cover up to $3000 per event, however, you can choose to increase the limit if required.

The policy also offers two optional benefits for an additional cost: Excess-Free Hearing Aid Cover and $100 Excess on Eyewear. It also includes excess-free cover for food spoilage – up to $1000 – when a fridge or freezer stops working, the power supply is accidently disconnected or there’s a power surge.

Limited Contents Insurance

This policy provides basic cover to protect your contents against burglary, fire, storm, flood and natural disaster. Most items will be replaced with the nearest equivalent if they cannot be repaired. For an additional cost, you can add Mobile Phone Cover and Laptop and Tablet Cover. This policy also includes excess-free cover for food spoilage, up to $500.

Whether you’re a renter or a home owner, paying for a basic level of cover is a no-brainer. And it doesn’t have to be too expensive. According to our latest research, the average monthly bill for home and contents insurance cover is $70 per month, which isn’t a huge price to pay for peace of mind should the worst happen.

So if you’ve not checked your policy, or your insurance provider, recently, take action. Don’t just set and forget. Check out AA Insurance, the winner of Canstar’s 2021 award for Most Satisfied Customers | Home and Contents Insurance to ensure you’re insured with a great-value policy from an insurer you can trust.

Key statistics

I’m confident I’ve enough home and contents insurance: 58%

I have other insurance (e.g. car) with the same provider to lower my premiums: 50%

I understand my policy documents and what my insurance covers: 50%

I review my home and contents insurance level of cover every year: 37%

My home and contents insurance is really only there to cover a major disaster: 34%

I pay my insurance premiums in full for a year for the policy discounts: 32%

I have increased my excess to lower my premiums: 18%

I have a burglar alarm but rarely turn it on: 10%

I’ve made a claim on my home and contents insurance after a burglary: 9%

I’ve made a major claim on my home insurance after an accident: 6%

I’ve put in a claim only to have it turned down: 4%

Types of insurance held

Home and Contents:71%

Contents: 18%

Home (Building Only): 10%

% made a claim

Yes         49%

No          48%

When made a claim

Before 2015: 35%

2015: 4%

2016: 8%

2017: 8%

2018: 11%

2019: 12%

2020: 12%

2021: 9%

Average satisfaction score with insurer

8.3/10

Average Yearly Spend

$830

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 for home and/or contents insurance. In this case, 2330 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 criteria.

2020

2019

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