Wondering about the average cost of car, house, and contents insurance in New Zealand? Insurance premiums can vary by location, so it’s important to understand what factors drive costs in your area. Here’s a breakdown of the average premiums and how they differ across regions like Auckland, Wellington, and Christchurch.
The cost of car insurance in New Zealand
The average cost of car insurance is $1,346 per year - or $112 per month as at Q3 2024. The cost of insuring motor vehicles in New Zealand has increased over time.
Average car insurance costs in NZ (2024)
Year ended | Average costs $ | Year on year difference $ |
|---|---|---|
Q3 2022 | $903 | - |
Q3 2023 | $1,140 | $500 |
Q3 2024 | $1,346 | $692 |
Regional differences in car insurance premiums
Car insurance costs vary by location. In Auckland, drivers now face an average annual cost of $1,579, or $132 per month. In comparison, Wellingtonians pay around $1,178 yearly, or $98 monthly, while for Canterbury, the figure is approximately $1,254 annually, or $105 monthly.
Average car insurance premiums (Q3 2024)
Yearly $ | Monthly $ | |
|---|---|---|
National | $1,346 | $112 |
Auckland | $1,579 | $132 |
Canterbury | $1,254 | $105 |
Wellington | $1,193 | $99 |
source: Quashed
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, which 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 flooding, force insurers to adjust premiums to manage these risks more effectively.’
Want to dig deeper? We’ve broken down the key factors driving car insurance. Read the full breakdown here.
How much can Kiwis save by comparing car insurance policies?
How much can Kiwis save by comparing car insurance policies? A lot! The gap between quotes keeps growing. In Q3 2024, the average price difference for comprehensive car insurance hit $686—up from $574 in 2023 and $414 in 2022. For Kiwi drivers, this means one thing: compare your options. Whether it’s third-party or comprehensive cover, shopping around could save you hundreds.
Average car insurance costs difference across insurers (Q3 2024
Year ended | Yearly difference $ | Year on year Increase % |
|---|---|---|
Q3 2022 | $414 | - |
Q3 2023 | $574 | 38% |
Q3 2024 | $686 | 20% |
source: Quashed
Looking to save on car insurance? Check out our blog on Smart Ways to Slash Your Car Insurance for practical tips to keep more money in your pocket.
The cost of house insurance in New Zealand
The average cost of house insurance is $2,702 per year — or $225 a month as at Q3 2024. That’s a noticeable jump, and just like car insurance, prices are steadily climbing. Here’s how the numbers have shifted over the past few years:
Average house insurance costs in NZ (2024)
Year | Average costs $ | Year on year difference $ |
|---|---|---|
Q3 2022 | $2,148 | - |
Q3 2023 | $2,303 | $155 |
Q3 2024 | $2,702 | $399 |
But that’s just the national picture—things get even more interesting when you zoom in on specific regions.
Regional differences in house insurance costs
Homeowners in Auckland pay an average of $2,104 per year (or $175 per month) for house insurance. While that might seem steep, it’s actually below the national average of $2,702. Wellington, however, is a completely different story. The average annual premium there is a jaw-dropping $4,467—more than double what Aucklanders pay. To put that into perspective, Wellington homeowners are forking out amounts comparable to body corporate fees, which typically range between $4,000 and $6,000 a year.
Average house insurance premiums (Q3 2024)
Yearly ($) | Monthly ($) | |
|---|---|---|
National | $2,702 | $225 |
Auckland | $2,104 | $175 |
Canterbury | $2,655 | $221 |
Wellington | $4,467 | $372 |
source: Quashed
Trying to figure out why house insurance premiums are increasing? Check out our blog on the key factors driving up costs.
How much can Kiwis save by comparing house insurance?
Just like car insurance, the cost of house insurance is becoming a real mixed bag. In Q3 2024, our data revealed that the premium difference across insurers was a staggering $1,050. That’s a 21% jump from the previous year!
What does that mean for you? It highlights how crucial it is to regularly compare your insurance. With such big variations in premiums, staying on top of your options can save you more money than ever.
Average premium differences across insurers
Yearly difference $ | Year on year increase % | |
|---|---|---|
Q3 2022 | $933 | |
Q3 2023 | $866 | -7.2% |
Q3 2024 | $1,050 | 21.3% |
source: Quashed
Looking for ways to save on house insurance? Check out our blog on eight budget hacks to get started.
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!
The cost of contents insurance in New Zealand
The average cost of contents insurance is $844 per year - or $70 per month as at Q3 2024. These costs have been increasing over time as our data shows.
Average contents insurance costs in NZ (2024)
Year | Average costs $ | Year on year difference $ |
|---|---|---|
Q3 2022 | $649 | - |
Q3 2023 | $757 | $108 |
Q3 2024 | $844 | $87 |
Regional differences in contents insurance
The same trends we see with house insurance play out here too. Aucklanders pay an average of $755 per year (or $63 per month), which is below the national average. Meanwhile, Wellington homeowners face higher premiums, averaging $1,054 a year — or $88 a month.
Average contents insurance premiums (Q3 2024)
Yearly ($) | Monthly ($) | |
|---|---|---|
National | $844 | $70 |
Auckland | $755 | $63 |
Canterbury | $865 | $72 |
Wellington | $1,054 | $88 |
source: Quashed
Want to know what contents insurance actually covers? Check out our comprehensive guide for all the details!
Shop smarter with Quashed
Insurance just got way easier with Quashed. Compare, shop and track all your insurance in one place.
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 Q3 2024, the gap between the cheapest and most expensive quotes was $473 — a noticeable 9.7% increase from last year.
That’s why it’s so important to compare your options. Whether you’re a homeowner or a renter, shopping around for the best deal can save you hundreds now—and thousands over the years.
Average contents insurance premium differences across insurers in Q3 2024
Yearly difference $ | Year on year increase % | |
|---|---|---|
Q3 2022 | $289 | |
Q3 2023 | $431 | 49.1% |
Q3 2024 | $473 | 9.7% |
source: Quashed
Market Scan quotes are direct from insurers
So you won’t pay more with Quashed
How to be the boss of your insurance!
Saving on car, house, or contents insurance doesn’t have to be complicated. Here’s how to get started with Quashed:
Compare your insurance regularly: Don’t let the ‘lazy tax’ eat into your wallet! Insurance rates change often, so checking costs every few months can save you heaps. Tools like Market Scan make it easy—just enter your details once and see multiple quotes in minutes.
Check your cover: Are you paying for more than you need, or missing something important? Review your sum insured amounts to ensure they’re just right. For houses, tools like Cordell Sum Sure are handy; for cars, Trade Me’s valuation tool can help.
Adjust your excess: Got some savings? Consider increasing your excess to lower your premiums. It’s a simple way to take control and save big.
Know what’s excluded: Fine print matters. Take a moment to understand what your policy covers (and what it doesn’t) so there are no surprises when it’s time to claim.
FAQs
What is the cheapest type of car insurance in New Zealand?
The cheapest type of car insurance in New Zealand is typically third-party insurance. This policy only covers damage to someone else's property if you're at fault, which is ideal if you’re driving an older car and want a cost-effective option. However, it doesn’t cover damage to your own vehicle. To learn more read our blog Cheapest Versus Best Car Insurance in NZ.
Who has the best house insurance in New Zealand?
The "best" house insurance depends on what matters most to you—affordability, extensive coverage, or customer service. Use tools like Quashed to compare quotes and coverage from leading providers such as Tower. Learn more in House Insurance: A Homeowner’s Guide.
How much does house insurance cost per month in New Zealand?
On average, house insurance in New Zealand costs $225 per month as at Q3 2024, but this varies based on factors like your location, the size of your property, and the level of coverage.
How can I compare house insurance in NZ?
Comparing house insurance involves looking at key factors like premiums, excess amounts, and coverage options. Quashed simplifies this by offering real-time comparisons across providers.
Which car insurance company is the best in NZ?
Choosing the "best" car insurance company depends on your specific needs—whether it's affordability, coverage, or claims support. Quashed provides tools to compare quotes and features from New Zealand’s top providers. Learn more in our blog Key Factors in Choosing the Best Car Insurance.
How much is car insurance in NZ?
Car insurance premiums in New Zealand depend on factors like your age, driving history, and location. On average, comprehensive insurance costs $1,346 annually, but drivers in cities like Auckland might pay more. For a breakdown of costs, check out Comparing Insurance Costs for Top Cars in NZ.
