Nearly 1/3rd of Kiwis don’t understand their insurance

Published: Wed 15 May 2019 09:52 AM
With an average annual spend of $801, most would agree that it’s important to know what your car insurance covers. But Canstar’s recent customer satisfaction survey has found that while 87 percent of us favour a comprehensive policy, 32 percent don’t understand what it covers.
While not mandatory in New Zealand, comprehensive, third-party and third-party fire and theft insurance are available to policyholders – all of which offer different levels of cover. Our survey found that in addition to the 87 percent of respondents who prefer comprehensive cover, 10 percent prefer third party fire and theft, and the remaining three percent compulsory third party.
The most frequent type of car insurance claim is for damage to car (48%), followed by accident (32%). Theft from car (3%) and theft of car (2%) represent much smaller proportions of claims made. Other claims make up the balance.
In terms of providers, State has been awarded Canstar’s Most Satisfied Customers Award for car insurance for the first time. Its overall customer satisfaction performance has steadily increased since 2014.
“State scored particularly well for quality of its service, and throughout the customer claims journey – lodgement, process and outcome,” says Jose George, General Manager of Canstar New Zealand.
Executive General Manager Customer and Consumer Kevin Hughes says he is extremely proud that State has been recognised with the 2019 Most Satisfied Customers Award for car insurance.
“Cars are often one of the most valuable items we own, both in terms of value and convenience. We know our customers are busy people and we’re committed to taking care of them when they need us most, so they can get back on the road as quickly as possible.”
“We’re excited to be recognised as the leading brand for overall satisfaction. It’s a competitive market and a testament to the efforts our teams make every day for our customers.”
Nine providers were compared on value for money, claims lodgement, process and outcome, quality of service, clarity of policy, communication and overall satisfaction. To take part in the survey, the 1,782 Kiwi respondents had to have a current car insurance policy for which they are the bill payer, they also had to have made a claim within the last three years.
Details about the Canstar Most Satisfied Customers Award – Car Insurance 2019 winner can be found on our website.

Next in Business, Science, and Tech

Government accounts show strong economy
By: New Zealand Government
OceanaGold cleared to buy land for Waihi tailings expansion
By: BusinessDesk
Fletcher sued for $7.5m over Christchurch justice precinct
By: BusinessDesk
PHARMAC signs bundle deal for more cancer medicines
Government levels electricity playing field for consumers
By: New Zealand Government
NZ dollar rises on better-than-expected govt surplus
By: BusinessDesk
Rail revaluation bolsters Crown 2019 accounts
By: BusinessDesk
Shane Jones' PGF quietly made tax-exempt
By: BusinessDesk
Robertson’s pockets bulge as everyday Kiwis struggle
By: New Zealand National Party
DHB deficits out of control, health services at risk
By: New Zealand National Party
Green Party responds to Government surplus announcement
By: Green Party
Nearly $2 of every $5 swallowed by the Government
By: ACT New Zealand
NZEI Te Riu Roa welcomes Government's education spending sig
Give the money back, Grant
By: New Zealand Taxpayers' Union
Surplus should be spent on housing, health and services
By: Public Service Association
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media