A nationwide survey conducted by AMI, State and NZI has revealed a significant portion of New Zealanders don’t know what their insurance would cover.
The survey, conducted by market research agency Ipsos on behalf of the brands, found that 31% of respondents were unaware of what their insurance policies would cover if their homes or belongings were significantly damaged by a wild weather event.
It also found that 32% of New Zealanders were not confident of having the right amount of insurance coverage to protect against major weather events.
According to the study, 25% of surveyed individuals did not hold contents or house insurance, leaving their valuable assets and properties unprotected.
In response to the findings, the IAG insurance brands launched an "Understanding Insurance” series to explain complex insurance topics and terms. The series is designed to educate individuals about insurance policies, empowering them to make informed decisions and ensure they have appropriate coverage.
