Ever feel like your insurance bill is burning a hole in your back pocket? If so, you're not alone. Whether you're in Auckland or Christchurch, premiums have been climbing, and Kiwis everywhere are asking the same question—what's happening, and why?
In this blog, we break down the latest data on car, house, and contents insurance premiums across Aotearoa. Our insights highlight key trends driving premium changes, based on real market data. You'll discover what's influencing prices and how to assess your coverage options—helping you stay informed without the guesswork.
The cost of car insurance in New Zealand
The average cost of car insurance is $1,325 per year (or $110 per month) as of Q4 2024, based on Quashed Index data. The cost of insuring motor vehicles in New Zealand has increased over time, as shown below for comprehensive car insurance.
Average car insurance costs
Year Ended | Yearly Costs ($) | Year-on-Year Difference ($) |
|---|---|---|
Q4 2022 | $937 | - |
Q4 2023 | $1,241 | $304 |
Q4 2024 | $1,325 | $84 |
Regional differences in car insurance premiums
Car insurance costs vary by location. Aucklanders now pay around $1,600 per year, or $133 per month on average. In comparison, Wellington drivers pay about $1,155 per year ($96 monthly), while in Canterbury, the cost is approximately $1,230 annually or $103 monthly. Q4 data is shown below:
Average car insurance premiums
Region | Yearly Costs ($) | Monthly Costs ($) |
|---|---|---|
National | $1,325 | $110 |
Auckland | $1,600 | $133 |
Canterbury | $1,230 | $103 |
Wellington | $1,155 | $96 |
Source: Quashed. Actual costs will vary depending on the insurer, policy coverage, excess levels, and individual risk factors such as age, location, and driving history.
Why do car insurance costs vary so much by location?
According to Quashed CEO Justin Lim, it boils down to risk. 'In densely populated cities like Auckland, where vehicle numbers have been increasing, there’s a higher likelihood of accidents, and this is reflected in car insurance premiums,' explains Lim. He adds, 'Areas with high rates of car theft or vandalism also face higher costs. Finally, natural disasters like floods, force insurers to adjust premiums to manage these risks more effectively.’
Got questions? Be sure to check out our Car Insurance FAQs at the end of the blog.
How much can Kiwis save by comparing car insurance policies?
How much can Kiwis potentially save by comparing car insurance policies? The gap between the highest and lowest comprehensive car insurance premiums has widened over time. In Q4 2024, the average price difference for comprehensive car insurance reached $714—an increase from $692 in 2023 and $395 in 2022.
For Kiwi drivers, the takeaway is simple—exploring different policies can help you find a plan that best suits your needs and budget.
Average car insurance premium difference across insurers
Year Ended | Yearly Difference ($) | Year-on-Year Increase % |
|---|---|---|
Q4 2022 | $395 | - |
Q4 2023 | $692 | 75% |
Q4 2024 | $714 | 3% |
Source: Quashed. Actual costs will vary depending on the insurer, policy coverage, excess levels, and individual risk factors such as age, location, and driving history.
Want to save on your car insurance? Our Further Reading section at the end of the blog covers expert tips on car, house, and contents insurance.
The cost of house insurance in New Zealand
The average cost of house insurance is $2,704 per year (or $225 per month) as of Q4 2024, based on Quashed Index data. Let’s take a look at how house insurance costs have changed over the past few years.
Average house insurance costs
Year Ended | Yearly Costs ($) | Year-on-Year Difference ($) |
|---|---|---|
Q4 2022 | $2,062 | - |
Q4 2023 | $2,648 | $586 |
Q4 2024 | $2,704 | $56 |
That’s just the national picture—regional variations show notable differences.
Regional differences in house insurance costs
Homeowners in Auckland pay an average of $2,210 per year ($184 per month) for house insurance. While this may seem high, it’s actually below the national average of $2,704.
However, Wellington homeowners pay significantly more, with an average annual premium of $4,466—more than twice that of Auckland.
Region | Yearly Costs ($) | Monthly Costs ($) |
|---|---|---|
National | $2,704 | $225 |
Auckland | $2,210 | $184 |
Canterbury | $2,817 | $235 |
Wellington | $4,466 | $372 |
Source: Quashed. Actual costs will vary depending on the insurer, policy coverage, sum insured levels, and location.
Want to learn more? Our Further Reading section at the end of the blog covers expert tips on car, house, and contents insurance.
How much can Kiwis save by comparing house insurance?
House insurance premiums aren’t one-size-fits-all—they vary a lot depending on your insurer and policy.
In Q4 2024, Quashed Index data showed an average gap of $1,098 between the highest and lowest premiums across insurers. So, what does this mean for you?
If you’re not checking your options regularly, you could be paying hundreds more than you need to. With prices swinging this much, staying on top of your policy could mean finding a better deal and keeping more money in your pocket.
Average house insurance premium differences across insurers
Year Ended | Yearly Difference ($) | Year-on-Year increase % |
|---|---|---|
Q4 2022 | $859 | |
Q4 2023 | $1,112 | 30% |
Q4 2024 | $1,098 | -2% |
Source: Quashed. Actual costs will vary depending on the insurer, policy coverage, sum insured levels, and location.
Got questions? Be sure to check out our House Insurance FAQs at the end of the blog.
The cost of contents insurance in New Zealand
As of Q4 2024, the average cost of contents insurance is $823 per year ($69 per month), based on Quashed Index data. Prices have steadily increased over time, reflecting broader insurance trends.
Average contents insurance costs
Year Ended | Yearly Costs ($) | Year-on-Year Difference ($) |
|---|---|---|
Q4 2022 | $629 | - |
Q4 2023 | $816 | $187 |
Q4 2024 | $823 | $7 |
Regional differences in contents insurance costs
Just like house insurance, contents insurance costs can vary depending on where you live. Aucklanders pay an average of $754 per year ($63 per month), which is below the national average. Meanwhile, Wellington homeowners face the highest premiums, averaging $990 per year ($83 per month).
Region | Yearly Costs ($) | Monthly Costs ($) |
|---|---|---|
National | $823 | $69 |
Auckland | $754 | $63 |
Canterbury | $891 | $74 |
Wellington | $990 | $83 |
Source: Quashed. Actual costs will vary depending on the insurer, policy coverage, sum insured levels, and location.
Got questions? Be sure to check out our Contents Insurance FAQs at the end of the blog.
How much can Kiwis save by comparing contents insurance?
Based on our latest data, we’ve found that premiums for contents insurance vary widely across insurers. In Q4 2024, the gap between the cheapest and most expensive quotes was $463—up 12% year on year.
That’s why it’s so important to compare your options. Whether you’re a homeowner or a renter, comparing policies can potentially help you save.
Average contents insurance premium differences across insurers
Year Ended | Yearly Difference ($) | Year-on-Year Increase % |
|---|---|---|
Q4 2022 | $439 | |
Q4 2023 | $412 | -6% |
Q4 2024 | $463 | 12% |
Source: Quashed. Actual costs will vary depending on the insurer, policy coverage, sum insured levels, and location.
Quash insurance confusion today
Be the boss of your insurance by comparing car, house, and contents insurance with Quashed’s Market Scan tool.
It’s simple, easy, and lets you explore options that suit your needs—no hassle, no fuss.
Further reading
Car insurance
Car Insurance Guide: Learn the essentials of car insurance.
Saving on Car Insurance: Smart ways to lower your premiums.
Sorting Out Your Car Insurance Renewal: Stay on top of your renewal.
Cheapest Versus Best Car Insurance: Find the right balance.
Car Insurance Quotes: Get the best deal for you.
House insurance
House Insurance Guide: Understand the key basics.
Climate Change and House Insurance: How it impacts your cover.
Why Are House Insurance Premiums Increasing?: What's driving the rise.
House Insurance Key Considerations: What to look out for.
8 Budget Hacks for House Insurance: Save without cutting corners.
Contents insurance
Complete Guide to Contents Insurance: Everything you need to know.
Key Considerations with Contents Insurance: Find coverage options.
Saving on Contents Insurance: Simple tips to reduce costs.
Contents Insurance Tips for Kiwi Seniors: Special advice for senior Kiwis.
Insurance comparisons
Comparing Insurance 101: Why compare, how Quashed helps.
How Quashed Compares: See the differences in approaches.
FAQs
Car insurance
Why have my car insurance premiums increased so much?
Premiums can rise due to factors like higher repair costs, inflation, and natural disasters. Even small claims or changes in your area can impact your premium. If you’re seeing a sudden spike, it’s a good idea to shop around to see if you can find a better deal.
Is shopping around for insurance really worth the effort?
Absolutely! Shopping around helps you find the best deal. At Quashed, we simplify this by providing real-time comparisons of various providers. It’s easy to find the right coverage at the best price with just a few clicks.
What factors should I consider when choosing an insurer?
Don’t just focus on price. Look at the coverage options, customer service, and how easy it is to make a claim. Consider the excess amount and whether the policy suits your needs. Make sure you're not paying for coverage you don’t need.
Do loyalty discounts actually make a difference in my premiums?
Not always. Insurers often offer the best rates to new customers. Long-term customers may not get the same deal, so it’s worth comparing prices each year to avoid paying the "loyalty tax."
What’s the impact of a claims history on my insurance premiums?
A history of claims can increase your premiums, as insurers view it as a higher risk. If you’ve been claim-free for a while, it could work in your favour when it’s time for renewal.
How does the value of my car or home affect my premiums?
The higher the value of your assets, the higher your premiums. This is because it costs more to repair or replace expensive cars and homes. Insurers base premiums on the potential cost to fix or replace your items.
House insurance
How can I avoid overpaying for house insurance?
Make sure you’re not over-insuring. Check that your sum insured reflects the actual cost of rebuilding your home, not the market value. Be mindful of unnecessary add-ons, and consider increasing your excess to lower premiums. Shopping around each year can also help ensure you’re getting the best deal.
Does my car’s safety rating impact the cost of my insurance?
Yes, safer cars with better ratings (like airbags and stability control) can lower your premiums. Insurers consider these features because safer cars are less likely to be involved in serious accidents, resulting in fewer claims.
How can I find discounts or better deals on my insurance premium?
Quashed makes finding discounts easy by providing real-time comparisons from different providers. You can also save by bundling policies, adjusting your coverage, or installing security systems.
Contents insurance
How do insurance providers determine the cost of my contents insurance?
The cost is determined by factors like the value of the items you're insuring, their condition, and the risk associated with your location. Insurers consider whether your home is secure (e.g., alarms or security systems) and the likelihood of claims in your area, like crime rates or natural disaster risks.
Why should renters consider contents insurance?
Renters should consider contents insurance to protect their personal belongings from unexpected events like theft, fire, or accidental damage. Even if you're not responsible for the building itself, your possessions (furniture, electronics, clothing, etc.) are valuable, and contents insurance can help replace them if something goes wrong.
General questions
How do natural disasters and global events impact insurance costs in New Zealand?
Natural disasters like floods or earthquakes can drive up premiums due to the increased risk. Global events, such as rising reinsurance costs from worldwide disasters, can also affect premiums in New Zealand.
Is it better to increase my excess to save on premiums?
Increasing your excess can lower your premium, but it’s important to find a balance. A higher excess means you pay more out of pocket if you need to make a claim. If you rarely claim, a higher excess can save you money, but if you expect to claim soon, keep it lower.
How do insurance providers determine the cost of my contents insurance?
The cost is based on the value of your contents, their condition, and the risk factors of your location. Insurers consider factors like home security and the likelihood of claims in your area.
What do I need to know about regional variations in insurance premiums in New Zealand?
Premiums can vary depending on where you live. Areas prone to natural disasters, high crime rates, or higher repair costs typically have higher premiums. Even the cost of materials and labour can affect premiums based on location.
This article provides general information only and does not constitute insurance or financial advice. Insurance policies vary between providers, and you should check with your insurer or a licensed adviser for guidance specific to your situation. For full details, refer to Quashed’s terms and conditions.
