• Comparison site crunches insurance numbers

Auckland residents are paying higher car insurance premiums than people in the rest of the country, research shows.

Financial product comparison website Moneyhub released a report that found a wide range in prices for car insurance.

It said Trade Me Insurance offered the best value for comprehensive vehicle insurance on standard vehicles. AA charged 40% more, on average.

“While most policies had the same $400 excess, the annual saving in the upfront policy could be significant by getting a few quotes,” said researcher Christopher Walsh.

“Vehicle owners in the regions generally pay a lot less than those in cities, with Invercargill and New Plymouth being two examples of cities where car insurance can be 35% to 50% cheaper than what it would cost for an Auckland driver of the same age to insure the same vehicle. Insurers tended to penalise those living in areas with tricky and bendy roads such as Piha by charging more for a policy.

“And within Auckland it also ranges – every insurer charged different amounts for the same vehicle when we compared Takapuna to
South Auckland.”

June 2018

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