Canstar Reveals NZ’s Best Car Insurance

October 03, 2024: Canstar’s research for its latest car insurance awards reveals that Kiwi motorists understand the importance of great car cover: 87% of insured drivers have comprehensive insurance. However, far fewer (24%) shop around for a better deal when their policy comes up for renewal.

But finding the best deal in car insurance doesn’t have to be as gruelling as a Monday morning commute in heavy rain. Because at Canstar, we crunch the numbers for time-poor Kiwi motorists, and our latest awards research leads directly to the best in car insurance.

Congratulations to State, for winning our prestigious Insurer of the Year | Car Insurance Award. Our research team noted that over the past 12 months the broader car insurance market saw premiums increase around 14%. However, over the same period, the cost of State’s comprehensive policy remained stable. Our researchers also noted State’s great comprehensive policy features and strong customer satisfaction score, which was based on feedback from over 3000 policy holders.

Tom Slee, Canstar Group Manager – Wealth, Health & NZ, says, “Comprehensive car insurance is must-have for Kiwi motorists. However, given increasing policy costs, it’s surprising that for most drivers it’s a set-and-forget purchase. State’s win of our Insurer of the Year Award highlights that not all car insurance policies are created, or priced, equally, and that there are considerable savings to be made.

“That State earns high praise from our research analysts for its pricing and products features, in addition to great consumer feedback, is a reflection of State’s dedication to delivering not only great value, but great customer service, too.”

Paula ter Brake, State Executive General Manager Consumer Brands, says: “We’re absolutely delighted to see State named as Car Insurer of the Year, as well as winning an Outstanding Value Award. These awards are wonderful recognition of the work our team does every day to put our customers at the centre of everything we do.”

Canstar’s Outstanding Value Car Insurance Awards

State’s Insurer of the Year Award win sits alongside Canstar’s Outstanding Value Car Insurance Awards, which recognise the best insurance providers across six driver profiles: Under-25 female | Under-25 male | 25-29 driver | 30-49 driver | Family with young driver | 50+ driver.

This year’s Outstanding Value winners include AA Insurance, FMG and State.

AA Insurance

In addition to an Outstanding Value Award, this year AA Insurance is also the winner of Canstar’s inaugural Most Satisfied Customers | Car Insurance Claims Award.

Explaining the new award, Mr Slee says: “Unfortunately, it’s not until claim time that a policy holder gets a true understanding of the levels of service and cover offered by their insurer. That’s why we’ve launched our new Claims Award, which is based on feedback from 861 car insurance customers.

“The award acknowledges the insurer that delivers the best overall claims process, from the speed and ease of making a claim, to communication levels. A big congratulations goes to AA Insurance, for winning not only an Outstanding Value Award, but also one recognising its outstanding levels of customer service.”

Shaun Rees, AA Insurance Chief Product and Marketing Officer, says: “We’re proud to have stood out for outstanding value and customer satisfaction in car insurance. We strive to provide great value and unparalleled service – especially at claims time when we know our customers need us most. These awards are a fantastic recognition for our teams and the trusted relationship we have built with our customers over the years.”

FMG

This is the third year in a row that FMG has won an Outstanding Value Award, as FMG continues to offer eligible customers a high level of cover at competitive prices. FMG is also the winner of Canstar’s Most Satisfied Customers | Car Insurance Award 2024.

Pete Frizzell, Chief Marketing Officer FMG, says: “We’ve been 100% NZ owned and operated for 119 years, and are proud of our history. One of our core values at FMG is to deliver a better deal for rural New Zealand.

“Winning Canstar’s Most Satisfied Customers Award demonstrates our commitment to this value, and highlight’s FMG’s market leading customer service, comprehensiveness of cover, and communication. And winning an Outstanding Value Award for the third year running shows that we continue to offer a better deal in these challenging times.”

Canstar’s expert research team assesses the winner of its car insurance awards using a bespoke rating methodology. The awards are designed to help consumers make more informed financial choices and sit alongside Canstar’s other awards, covering banking, insurance and KiwiSaver products.

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