Can you afford to replace your TV if it breaks or your jewellery if it’s stolen? For many Kiwi seniors living on the NZ Super Pension, finding affordable contents insurance can feel like an uphill battle. This guide is here to help. We’ll explore the challenges seniors face, why contents insurance is essential, and how to make smarter, more affordable decisions—all while protecting what matters most.
Rising costs of contents insurance in NZ
For Kiwi seniors, rising insurance premiums are a growing concern. Over the past year, contents insurance costs have increased by 12% on average, with Wellington seniors paying the most at $1,054 annually, compared to $755 in Auckland. Here’s why this matters:
Limited incomes: A single senior living alone, earning $521 a week after tax from NZ Super, spends an average of 3% of their annual income on contents insurance—a significant expense for those on a tight budget.
Inflation and claims pressure: Rising repair costs and theft claims have driven premiums higher, adding to the financial strain.
Regional disparities: Where you live matters. Premiums can vary widely depending on factors like theft rates and climate risks.
Contents insurance costs are climbing, so it’s crucial to make smart choices about your coverage. Want to know what’s driving these costs? Keep an eye out for our upcoming blog: 'How Much Does Contents Insurance Cost?'
Why contents insurance is worth it for seniors
You might wonder if contents insurance is really necessary, especially with premiums rising. Here’s why it’s worth the investment:
Theft protection: Opportunistic thieves often target seniors, and with thousands of burglaries reported annually in NZ, insurance provides peace of mind.
Coverage for accidents: From a dropped laptop to grandkids knocking over a TV, contents insurance helps protect against unexpected costs.
Financial security: Rather than dipping into savings, insurance ensures you’re covered for life’s mishaps.
Not sure where to start with insurance? Check out our blog for tips on finding the best coverage without the stress.
Common policy exclusions to be aware of
Not everything is covered under contents insurance, so it’s important to understand what’s excluded:
Wear and tear: Gradual damage from regular use is typically not covered.
Pre-existing damage: Insurers won’t pay for items that were already broken.
Unlisted valuables: High-value items like jewellery or antiques often need to be declared separately.
Always read your policy carefully to avoid surprises during claims. Understanding these challenges is key to making an informed choice. That’s where Quashed can help. Not sure if contents insurance is worth it? Our blog Your Complete Guide To Contents Insurance breaks down why it matters, how it works, and how to get started.
How Quashed simplifies the process
Sorting through insurance options can feel overwhelming, but Quashed makes it easy. With a platform designed to save time and reduce stress, Quashed helps seniors compare policies side by side, so they can find coverage that works for their budget. Here’s how Quashed helps:
Real-time quotes: Instantly see up-to-date pricing and coverage options from multiple providers, so you know where you stand.
Personalised options: Adjust your excess, sum insured, and policy features to find the perfect fit.
Quick comparisons: View multiple policies in one place without switching between websites.
Tailored insights: Spot bundle offers, discounts, and senior-friendly features to save money.
Are you curious how Quashed compares with other tools? Check out our blog on MoneyHub vs Quashed.
The average Kiwi household can save
$2,023.79 a year by shopping their insurance!
Find out how your renewal prices stack up against other options out there!
How families can help seniors with insurance decisions
Family members can play a key role in simplifying insurance for seniors:
Assist with comparisons: Use Quashed to help seniors find the best coverage.
Explain complex terms: Insurance jargon can be tricky—family members can help clarify details.
Spot cost-saving opportunities: Look for excess adjustments, discounts, or bundle deals that suit their needs.
By working together, families can ensure seniors feel confident and supported in their insurance decisions.
Looking for affordable contents insurance? Our guide breaks down how to find the best deals.
Shop smarter with Quashed
Insurance just got way easier with Quashed. Compare, shop and track all your insurance in one place.
Be the boss of your insurance
Rising costs don’t have to control your decisions. With Quashed, you have the power to compare policies in real time, customise your cover, and potentially save money—all with confidence.
Ready to be the boss of your insurance? Start comparing contents insurance today with Quashed and take charge of protecting what matters most.
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FAQs
Does contents insurance cover accidental damage to appliances?
Yes, most policies include accidental damage for items like fridges, TVs, and washing machines.
Are high-value items like jewellery covered?
Yes, but you’ll need to list them separately if their value exceeds the policy limit.
Can raising my excess save me money?
Absolutely. Increasing your excess can reduce premiums by up to 20%, depending on the policy.
Should I insure contents if I live in a retirement village?
Yes! Theft and accidents can happen anywhere, so it’s always wise to stay protected.
Why should I use Quashed to find contents insurance?
Quashed makes finding the right contents insurance simple and stress-free. We provide real-time quotes and side-by-side comparisons, so you can easily compare coverage options, premiums, and excess amounts all in one place. No more switching between multiple websites or feeling overwhelmed by too many choices.
What makes Quashed different from other comparison tools?
Quashed is designed to make insurance simple and user-friendly. Unlike other platforms, we offer real-time quotes and side-by-side comparisons, so you always have the most up-to-date options at your fingertips.
