Online resources are available to shop and compare insurance 

There are a few resources in New Zealand that can help when it comes to insurance.

Insurance companies

An obvious avenue you can seek information from would-be insurance companies themselves - insurers such AA Insurance, AMI, State, Tower for your car, house, contents insurance or AIA, Partners Life, Southern Cross for life, and health insurance are all online. If you’re going down this path, do note that there are also a number of lesser-known insurers that you should certainly check out as well such as AMP, Cove, Initio, Protecta and Pinnacle Life as they are certainly giving the well-known insurers a run for their money as they provide very competitive pricing and policies, but perhaps without spending as much as the big insurers are on marketing to get in front of more Kiwis.

The drawback of going directly to shop and compare insurance via insurers’ websites is the time and effort it takes - it can be very challenging. We estimate it would take a consumer anywhere from 30 minutes to hours to enter their information into multiple insurance companies’ websites to get quotes and then to understand the difference in policy benefits across insurers.

The first step which is simply comparing premiums is easier but the second part where you are comparing what is covered within policies certainly is very time-consuming and not an easy peasy task. So you ask, how can I make it much easier to compare and shop across insurers? Read on to find out more.

Insurance comparison websites

Outside of going directly to insurance companies, where it can be challenging and very time-consuming to compare and shop for insurance, you can check out a couple of well-known insurance comparison websites. One of the well-known websites in New Zealand is MoneyHub and the other is Quashed.

Read on to find out more about how MoneyHub and Quashed are making it easy for Kiwis to shop and compare insurance in New Zealand and what are the various benefits and differences between these two websites when it comes to insurance comparison. 

MoneyHub.co.nz 

MoneyHub is an online website that provides resources and information that tackles  topics from job hunting through to finding broadband, power and as you’ve guessed - insurance.

As stated on their website, “MoneyHub is a New Zealand consumer website, dedicated to money saving via in-depth journalistic research and reporting as well as harvesting and presenting public information in an easy-to-follow manner. We believe that the average Kiwi can save money on their yearly expenses by following our guides.” 

Let’s look at MoneyHub car insurance guide to see how it helps Kiwis to compare and shop for car insurance. It starts off with a summary stating they’ve compared quotes across a number of well known brands such as AA Insurance, AMI, State, Tower and Trade Me insurance and also one other lesser known brand which is Cove. They go on to state that Cove and Tower insurance were found to be “the best value car insurers for drivers in most parts of New Zealand”. It also explains a few key car insurance terms such as “Excess”, “Agreed vs Market Value”, the differences between “Comprehensive”, “Third Party, Fire & Theft” and “Third Party” and also “No Claims Bonus”. A table comparing a shortlist of benefits across insurers is also provided alongside two quote examples - one for a 35 year old male with a 2017 Toyota RAV4 and the other a 35 year old male with a 2011 Toyota Corolla. While this provides a rough indication of what it might cost you to get insured, due to the many factors that impact on insurance pricing such as where you live, the type of vehicle you’re insuring, driver’s licence, age, sum insured value, excess selection etc, it will not be very useful when it comes to understanding how much it will actually cost for you to insure your vehicle and how your premiums compare across insurance companies. The car insurance guide is similar to the other insurance guides they have on their website.

Quashed.co.nz

Quashed is an online website and platform solely focused on helping New Zealanders explore, compare, shop and track all their insurance in one place. Quashed mission is to make insurance more accessible, transparent and cost effective for Kiwis. It has been featured by New Zealand Herald, Business Desk, Newshub, Stuff, Fair Go and more.

On Quashed.co.nz, it states that Kiwis save an average of $1,150 or more on insurance with Market Scan. This is generated from data across tens of thousands of quotes in 2023 by Kiwis using their Market Scan feature. You’re probably wondering what Market Scan is? As it gives away in its name - it is featured on Quashed that enables Kiwi to scan across the market (various insurers) easily to compare insurance premiums and policies. Customers enter their information only once and that information is used to retrieve multiple quotes in just a couple of minutes across a number of insurers. This makes the time consuming and laborious task of comparing and shopping insurance very quick and easy. To be clear, it compares both insurance premiums and also policy benefits to understand the differences between covers so consumers know how the policies stack up against their current or others in the market. 

Another unique feature of Quashed is that consumers can view all their insurance information in one place regardless of how many policies they have and which insurance company they have their policy with. They can choose to upload the policy documents and allow the technology to pick up all the key information and present it back on a personalised insurance dashboard or alternatively enter the information manually - which is surprisingly quick and easy. 

More than 90% of Kiwis surveyed do not know how much they are paying across all their insurance, what insurance they have, how much they are covered for etc which Quashed helps with - making it very easy to see how much consumers are really spending on their insurance, how much their premiums are increasing each year and to then help them save money on their insurance via Market Scan. 

There are a few other features such as being able to explore and understand various insurances such as Trauma, Income Protection, Mortgage Repayment insurance and also the more commonly known policies such as comprehensive car insurance vs third party car insurance including fire and theft options. It also provides access to handy tools such as a contents insurance calculator (quick and easy to get a rough estimate of how much you could insure your valuables for), life insurance calculator and also house insurance calculator.

Quashed is completely dedicated to insurance - whether it is car, house, contents, landlord, motorcycle or life insurance. It empowers Kiwis to make better insurance decisions which ultimately keeps them financially protected and along the way helps to save thousands or even tens of thousands of dollars on insurance premiums.

MoneyHub insurance vs Quashed insurance

MoneyHub and Quashed both aim to make insurance simpler and more accessible for Kiwis. While they share similar goals, their approaches are very different.

If you’re looking for real-time insurance quotes for car, house, contents, or other policies, Quashed is the only platform that offers this through its unique Market Scan feature. Unlike MoneyHub, Quashed provides quotes based on your information in real-time, giving you prices that are tailored to you—no guesswork involved.

Quashed also makes managing your insurance easier with a secure, personalised dashboard. By logging in, you can store all your policies in one place and even set reminders to shop around each year. On the other hand, MoneyHub doesn’t require a login and focuses on a broader range of financial topics like KiwiSaver, mortgages, and credit cards, alongside insurance tips.

Here’s a quick comparison to help you decide:

Both platforms offer valuable tools and resources for Kiwi consumers, but if saving time and getting tailored quotes instantly sounds good to you, Quashed is your go-to.

Shopping for insurance has never been easier with tools like Quashed at your fingertips. Why not give it a try today? With the potential savings, you could be funding your next holiday—or even your next car—just by switching to a better deal. It’s worth it, especially if you haven’t compared your insurance in a while!

Further reading

• Think you’re overpaying for insurance? Find out how your premiums stack up and see if there’s room to save.

• Ready to find the best cover for you? Dive into our guide and see how Quashed makes insurance comparisons a breeze.

• Is your car costing you extra on insurance? Check out how different vehicles compare and see where yours stands.

• Hunting for a great car insurance deal? Learn how to compare quotes like a pro and start saving today.

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