Three out of Four Kiwis Want Car Insurance to be Compulsory

Three out of Four Kiwis Want Car Insurance to be Compulsory

Auckland, 9 February 2017. Latest research from Canstar Blue reveals that three quarters of Kiwis think that third party insurance should be compulsory for the three million passenger vehicles currently on New Zealand Roads.

Speaking about the survey, the results of questioning 1,680 Kiwi drivers, Canstar Blue general manager, Jose George said:

“The survey results were pretty overwhelming and in some regions, such as Bay of Plenty and Taranaki, in excess of 80 percent of people called for compulsory third party insurance.

“Although only eight percent of our respondents had been involved in an accident with an uninsured driver, people are obviously worried about being left out of pocket if it happens to them.”

George continues:

“Private passenger cars and vans account for over 70% of the traffic on our roads and for many, their car is one of the most valuable assets they own. It’s no surprise that people want to make sure they’re going to be financially covered if they have an accident – and unfortunately it can be more common that we think – 52% of our respondents had been involved in an accident.”

New Zealand has one of the highest car ownership per capita rates in the world and the latest information from the Insurance Council of New Zealand shows that in 2015, car insurance claims totaled over $1 billion.

Car insurance – the costs

• Average annual car insurance spend was $688. Auckland rates were the highest at $824 and Hawkes Bay the lowest at $494.

• 23% of people pay their premiums in installments to manage the cost

• 28% of people have home and car insurance with the same provider in order to get a discount

• Only 34% of people know what their car insurance covers

• 19% of people think car insurance premiums should be based on usage

Most Satisfied Customers

Scoring a maximum five stars for customer satisfaction in six out of eight categories, Vero has this year been announced as winner of the Canstar Blue Car Insurance Customer Satisfaction Award.

Accepting the award, Paul Smeaton, CEO Suncorp New Zealand which includes the Vero brand, said:

“It’s fantastic that Vero’s been recognised by Canstar as having the most satisfied car insurance customers in New Zealand for 2017.

“We aim to put our customers ta the heart of everything we do, and to be rated as the best car insurer by New Zealanders who have actually made a claim in the last three years shows that we’re really there for our customers when they need us most.

“I’d like to thank our customers for this incredible endorsement of our car insurance products, and our brokers and advisers, intermediary partners who have done so much to contribute to this award.”

For further information regarding this survey, please click here.

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