Alright, it’s that time again—car insurance renewal. But before you hit 'renew' and forget about it for another year, let’s ensure you’re still getting a sweet deal. Why not make life easier by zipping through this checklist, with a helpful sidekick like Quashed, to weigh your options? Here’s how you can get savvy with your policy—and maybe even cut down those insurance costs!
1. Review your current cover
First things first, it’s essential to ensure your current plan still aligns with your needs. Different vehicles can have a big impact on insurance rates. Many people wonder, "What does car insurance cover?" or "What should my car insurance include?" Now is the perfect time to review your coverage and check that you’re protected against the risks you actually face. If your situation has changed—like getting a new car or moving house—comprehensive coverage might be worth considering.
Think you're overpaying on car insurance? Discover practical ways to save in our further reading section.
2. Update your personal information
Keeping your insurer up to date is quick but crucial. Moved recently? Is someone else in the household now driving? Changes like these can impact your premium and coverage. It’s a small effort that could make a big difference.
3. Check for discounts
Who doesn’t love a good discount? With Quashed, you can easily spot special offers from insurers, such as Trade Me member discounts or Prezzy Card draws, to name just a couple of examples. Quashed streamlines the review process by highlighting these offers, ensuring you don't miss out—because every bit of savings matters.
Wondering if it’s time to switch providers? Learn what to consider in our further reading section.
4. Adjust your excess
Choosing a higher excess can help lower your monthly premiums, giving you more control over what you pay. With Quashed, it’s easy to update your preferred excess directly on the platform and see how it affects your premium in real time. It’s all about finding that sweet spot between affordability and having the cover you need when it matters.
Not sure if you're getting the best deal? We’ve got expert tips in our further reading section.
5. Shop around for competitive quotes
Don’t settle for the status quo. With Quashed, comparing your current deal against the market is quick and easy. Our platform brings together quotes from multiple insurers in one place, saving you the time and effort of visiting different websites. See how Quashed stacks up and why it’s the smarter choice for Kiwis.
6. Check your sum insured
When it’s time to renew, don’t just hit "renew" without a second glance. Your sum insured—the amount your car is covered for—might not reflect its current value. If it’s set too low, you could end up out of pocket; if it’s too high, you might be overpaying. To get a better idea of your car’s current value, try Trade Me's valuation tool. It’s a quick and easy way to ensure your sum insured matches what your car is actually worth.
With Quashed, you can easily adjust your preferred sum insured directly on the platform and see how it affects your premium. Whether you’ve added accessories, upgraded your ride, or your car’s value has changed, this feature makes it simple to ensure your policy is just right.
Struggling to compare car insurance options? We break it down in our further reading section.
7. Evaluate customer service levels
How’s your insurer been treating you? Good service can make all the difference when things go south. If your experiences have been less than stellar, it might be time to explore other options. Quashed provides a handy star rating that aggregates reviews from trusted sources like Google Reviews, Trustpilot, and Feefo. It’s a great starting point to get a high-level overview of how insurers perform in terms of customer service. If you want to dive deeper, checking detailed reviews on these platforms can provide specific insights into claims handling, communication, and issue resolution.
Facing rising car insurance premiums? Get actionable advice in our further reading section.
8. Re-read your policy terms
Not the most thrilling read, but it’s worth it. Knowing exactly what you’re signed up for can save headaches down the line. Look out for changes to exclusions, excesses, or coverage limits that might affect you. It’s also a good time to check for any new terms that may have slipped into your policy unnoticed. With Quashed, you can easily manage your policies and compare key details, ensuring you’re never caught off guard by unexpected changes.
Renew smarter, not harder
Think you're overpaying?
Use this checklist, sign up with Quashed, and compare quotes to save on your next renewal.
Further reading
Here are some great additional reads:
Smart Ways to Slash Your Car Insurance: Practical tips to lower costs.
Car Insurance Quotes: How to compare insurance quotes.
What Car Insurance Covers: Understanding policy coverage essentials.
Why Is Car Insurance So Expensive?: Factors driving premium increases.
Key Factors in Choosing the Best Car Insurance: Essential considerations for selection.
FAQs
Will my car insurance renew automatically, or do I need to take action?
Most car insurance policies in New Zealand automatically renew—especially if you’re paying by direct debit. About a month before your renewal, your insurer will send the new policy details, including any premium changes. If everything looks good, you don’t need to lift a finger. But if you’re not happy or want to make changes, it’s a good idea to get in touch before the renewal date.
What’s the process for renewing my car insurance?
When it’s time to renew, your insurer will send you a renewal notice outlining your cover and the updated premium. First, give it a good once-over—are the details correct? Does the cover still suit your needs? If it’s all in order, your policy will roll over automatically. But if something doesn’t sit right, you’ve got a chance to negotiate, update your details, or shop around for better options before the renewal date.
Why can’t I insure my car for its full market value?
If you’ve ever felt your car’s insured value seems a bit low, you’re not alone. Insurers base their valuations on factors like age, wear and tear, and resale data, which can sometimes feel out of sync with what you see on Trade Me. You might have the option to agree on a specific value with your insurer, but keep in mind that premiums could increase.
Why do car insurance premiums often jump at renewal time?
There are a few reasons why your premium might creep (or leap!) up when it’s time to renew. Inflation, natural disasters, and rising repair costs can all play a part. Plus, if your personal details or driving history have changed, that could also nudge the cost higher.
How can I save on car insurance when it’s time to renew?
Saving money on car insurance doesn’t have to be a headache. Start by comparing quotes (Quashed makes it easy). Check for discounts—some providers offer perks for low mileage or bundling policies. And if you’re happy to increase your excess, it could mean lower premiums. Just make sure the cover matches your needs before you switch.
How do I stop my car insurance from renewing automatically?
If auto-renewal isn’t your thing, you’ll need to let your insurer know before your policy renews. Most providers need notice, so check your policy’s fine print to avoid any surprises. Once you’ve confirmed the cancellation, you’re free to shop around or make other plans.
Can I haggle over my car insurance premium?
Absolutely! Insurers are often open to negotiating, especially if you’ve been a loyal customer or found a better deal elsewhere. Highlight your clean driving record, mention your low mileage, and don’t be shy about asking for discounts. The worst they can say is no!
Does driving fewer kilometres reduce my renewal premium?
It can. If you’re not clocking up as many Ks as you used to, let your insurer know—some offer discounts for lower mileage. It’s a simple way to potentially save without sacrificing your cover.
