Car Insurance Calculator

Unlike a simple price list, insurers are trying to predict the likelihood of you making a claim. The higher they think the risk is, the higher the premium. Here are five common factors they look at:

1. The Driver: Who You Are

Age and Experience: Younger drivers with less experience are more likely to be involved in accidents, which is why premiums for drivers under 25 are significantly higher. 

Driving History: If you have made claims in the past 3-5 years, you will need to disclose them, and this will likely increase your premium.

2. The Vehicle: What You Drive

Make, Model, and Value: The cost and availability of parts, the complexity of repairs, and the vehicle's theft statistics are all factored in. A common Toyota Aqua will generally be cheaper to insure than a high-performance European car or a heavily modified vehicle.

Electric and Hybrid Vehicles (EVs & HEVs): Insuring an electric or hybrid vehicle introduces new considerations. Insurers now specifically assess risks related to the high cost of the battery and cover for charging equipment.   

Agreed vs. Market Value: Agreed Value provides more certainty i.e. you and the insurer agree on a fixed amount that you will be paid if the car is written off. Market Value cover on the other hand will only pay out the market value of your vehicle if it is written off. This can mean cheaper cover but also that you may not get the amount you paid for when you purchased the car.

3. The Location: Where You Live and Park

Suburb and City: An address in a dense urban area like Auckland, with more traffic and higher rates of theft, will almost always attract a higher premium than one in a quieter, regional town.

Parking and Storage: Where your car spends its nights is a key indicator of risk. A vehicle parked in a locked garage is considered the most secure and will result in the lowest premium, while parking on the driveway or street is viewed as more risky and could cost you more.

4. The Usage: How You Use Your Car

Personal vs. Business Use: If you use your car for work—like visiting clients or carrying tools—you are on the road more often, which increases your risk.

Annual Kilometres: While not every insurer uses this, some will factor in how many kilometres you drive per year. Lower mileage can sometimes lead to a lower premium.

5. The Policy Choices: How You Structure Your Cover

Level of Cover: Your choice between Comprehensive, Third Party, Fire & Theft, or basic Third Party is the biggest lever. Comprehensive is the most expensive as it covers damage to your own car, while Third Party is the cheapest because it only covers damage you cause to others.

The Excess: This is the amount you agree to pay out-of-pocket when you make a claim. Opting for a higher excess will immediately lower your premium, while a lower excess will cost more.

Listed Drivers: To reduce costs, some policies allow you to exclude cover for drivers under a certain age (e.g., 25 years old). To find out more about car insurance in NZ check out our comprehensive Ultimate Guide to Comparing Car Insurance in NZ page.

Car Insurance Policy Benefits Comparison

To compare more insurance providers and policy benefits use Market Scan for FREE. 

Price comparison is important so we can find a car insurance cover that fits our budget. However, it is also important to know the differences in cover across insurance providers. Comparing the coverage and benefits helps you to find the policy that offers you the best cover at the price you’re happy to pay. This is where Market Scan by Quashed comes in. A free easy to use tool that more than 85,000 NZ consumers have signed up for.

Chuck Wareham: “Quashed made it very easy to look at different options for my vehicle insurance. I was most impressed with the comparisons and in the process saved over $500 on one car. I will now look at the other vehicle insurance when it comes due.”

Zara Coghill: “I've just done a comparison for my car insurance. It was very simple and easy to use. Especially if you have your current policy documents handy. And instead of needing to answer the same questions over and over for each company, you can answer them in one place and get a really good comparison report that outlines what is/isn't covered.”

Isaac Owens: “easy to use, saved me about $700/year on my house insurance alone and with better cover/perks. Nice to see a spread of cost options.”

Chris Pilipczuk: “Quashed made it super easy to upload my current policy, and they did the rest—quickly displaying alternative options. I ended up saving nearly $1,300 on my annual car insurance! Unlike other providers that charge an arm and a leg for adding a learner or restricted driver, Quashed found me a much better deal. Plus, their support team (James) was super fast and friendly, making the whole process smooth and stress-free. Highly recommended! 🚗💰