Is Comprehensive Car Insurance Worth It? With Money Compare
May 24, 2024

Should you consider comprehensive car insurance? Money Compare breaks down the benefits of the most robust form of car insurance in New Zealand.

New Zealand is famous around the world for its unique roads. Tight and windy, along cliff sides, and through forests, or simply busy city roads, driving a car comes with a risk in New Zealand! While car insurance is not mandatory in New Zealand, it is an important investment for drivers and car owners. Having car insurance means your wallet will be protected in the event you are involved in an accident. However, there are different types of car insurance, and the various tiers cover different types of incidents and situations. 

The Types of Car Insurance in NZ

It is important that you choose the right coverage for your needs and budget when purchasing car insurance. Comprehensive car insurance is the most robust form of coverage. However, it does come with the highest premium. So, this begs the question – is comprehensive car insurance worth it?

1. Comprehensive Insurance Protects your Vehicle

If you make a claim on your comprehensive car insurance, your policy provider will cover any damage done to your car, no matter whose fault it is. So even if you were at fault for the damage or accident, your insurance provider will pay out the insured amount to cover the costs of repairs or replacement. You won’t have to worry about having to replace the vehicle yourself or have to go without!

2. Comprehensive Insurance Protects your Wallet

Yes, the premiums for comprehensive insurance may be higher than more basic car insurance policies, but your wallet will be most protected overall. In the event of an accident, you’ll only have to pay the excess. The excess is the amount of money you must pay to have your claim processed, and this is an amount agreed upon when you purchase your insurance. But this is all you will have to pay in the event of an accident! Your insurance provider will cover the damage to all parties, so that you don’t have to drain your savings to repair the other party’s vehicle or your own. Having this wide protection gives you peace of mind when you are out on the road!

3. Comprehensive Insurance Gives you Peace of Mind

Like we said earlier, New Zealand roads can be a wild place! Anything can happen at any time. Comprehensive insurance unlocks peace of mind, so you can continue driving and exploring beautiful Aotearoa, knowing that your wallet and your car will be completely protected and repaired or replaced if something unexpected happens. If you had to cover the significant cost of damage or vehicle replacement, it could set you back thousands of dollars and leave you in an unpleasant situation! Comprehensive car insurance means you don’t have to worry about this happening!

There are things you can do to lower your premium

Comprehensive car insurance is going to cost more than other tiers of car insurance such as third party. But you can do a couple of things to keep costs as low as possible, without compromising coverage. 

Choose Higher Excess

When you purchase your comprehensive car insurance, you can lower your premium by choosing a higher excess. Just bear in mind that you’ll need to pay this higher excess if you need to make a claim. So just be sure that you can afford it if something happens to your car!

Compare Comprehensive Car Insurance

Money Compare always encourages Kiwis to take advantage of the power of comparison. Our user-friendly platform makes it easy to compare car insurance policies side-by-side and find the best deal. You can find the cheapest price in minutes and sign up right away! Comparison can save you lots of money across a year! So make sure you jump on Money Compare to unlock savings and peace of mind with your comprehensive car insurance today. 

Compare Comprehensive Car Insurance