this post was submitted on 18 Apr 2024
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Car Insurance 100% rise (self.newzealand)
submitted 7 months ago by purrtastic to c/newzealand
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My car insurance through Trade Me (Tower) is about to renew and the new cost is 100% higher. Any recommendations for a new insurer or are we powerless to prevent these increases?

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[–] Dave 1 points 7 months ago* (last edited 7 months ago)

It costs us maybe $700 a year to have comprehensive cover on a vehicle insured for $10k (with an excess of maybe $1500 or something). I figure if we have an accident on average every 15 years, then that's $10,500 when the payout would be $8,500 after excess.

Now I mention it, before you go for third party, see what your excess is. You can often save quite a bit by moving that up to $2k or even $5k (depending on the value if your car).