Car Insurance New Zealand
If you are looking for car insurance New Zealand deals, you’ll be glad to know that many insurance companies are offering the service. Car insurance is not compulsory in this country, but many people realize the benefits of having an insurance cover; it can save you thousands of dollars should you suffer an accident.
What types of policies can you get?
– Third party
This is the most basic car insurance New Zealand package. If as a result of your fault an accident happens and another person suffers injury, or you damage their car or property, you could be required to pay a substantial amount of money as compensation. Third party insurance covers the insured against such damages when the driver is the one to blame. However, this insurance does not cover repair costs or replacement of the holder’s vehicle in case of an accident or theft. It’s the most affordable Youi car insurance NZ deal.
– Third party fire and theft insurance
In larger cities such as Auckland and Wellington, this is the most popular insurance package. New Zealand, like many countries, has a large concentration of motor vehicles in its big towns. This necessitates the need of insurance covers as accidents are bound to occur. Third party fire and theft insurance is popular because it covers against third party injury and property damage. Also, it also protects the vehicle against fire or theft. This policy is more expensive than third party cover but more affordable than a comprehensive cover.
– Comprehensive car insurance policy
Of all the policies available for car insurance New Zealand, this is the most advantageous albeit its relatively high cost. It covers the insured against any damage on their vehicle and on a third party’s vehicle or property if he or she is at fault. If your vehicle is stolen or damaged by fire, hail, earthquake, vandalism, falling objects or any other insurable risk, the cost of replacing it will be met. This cover is the most expensive car insurance New Zealand deal, but it’s the one that gives total peace of mind.
– Specialized car insurance
This is an insurance cover that is specifically designed for non-ordinary vehicles. Some insurers provide this cover for vintage vehicles or cars over the age of 25. You may get all the benefits of comprehensive cover, but it must not exceed a certain set mileage per year. Modified vehicles or custom cars may also require this kind of insurance.
How to reduce the cost of car insurance New Zealand
Car insurance in this country has lower rates than the U.S and Europe. This is probably because insurance for motor vehicles is not compulsory. However, this does not necessarily mean that car insurance New Zealand is cheap. In some cases, it can cost more than $700 USD per year.
Here are tips that can considerably reduce the cost:
1. Increase your deductibles. This reduces the extent of your coverage, but in return, it allows the insurer to charge you lower premiums.
2. Utilize multi-policy discounts. Take various policies with one company.
3. Consult your insurer before modifying your vehicle. Modified vehicles might attract higher insurance costs.
4. Do not acquire policies that you do not need.
5. Maintain a clean driving record. You might enjoy discounts for no claims of your car insurance New Zealand package.