Compare House Insurance Policies New Zealand

Reading and understanding house insurance policies is hard.

But don’t worry, we have done the dirty work for you.

Whether you’re buying a house or switching insurers, our comparison tool can help you compare policies across popular New Zealand insurers.

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What makes a good cover?

The difference between a comprehensive house insurance policy and a basic cover will be in the extensions.

Policies have additional extensions on top of the core cover, and the limits on these change between insurers. Common limits are on Alternative Accommodation, Hidden Gradual Damage, limits for Keys & Locks, Retaining Walls and Owner’s Liability.

Conditions between policies also vary. For example there might be different conditions that apply to unoccupied houses, while sum insured policies are different to square metre replacement policies.

Special excesses are common – like zero excess for window breakage. You often add these extensions on by paying more premium. You should check if add-ons are included in your premium when comparing price and cover.

Price vs. Cover

Cheaper is not always best when it comes to your house insurance.

A lower premium suggests a lower level of cover. However, this is not always the case. You should check the level of cover provided to determine whether you are getting an appropriate price. You should compare both the premium and the amount of cover provided.

A bare minimum policy will save you money, but you are at risk of not having cover when particular damage occurs. Or there may be cover but you are disappointed with the payout received.

For example, if your hidden gradual damage cover is $1,000, but your excess is $750 – there’s actually very little cover (just $250).

Understanding your house insurance policy will ensure you are getting the best policy at the lowest price!


House Insurance Comparison

We have picked apart each policy wording. Select the insurer on the right and you can compare the cover against our policy. For full details of each policy please select the policy wording link.

What extensions should I consider?

Hidden Gradual Damage

Hidden gradual water damage is one our most common claims. Most insurers cover this with different limits but it can be excluded in some policies.

Statistically you are more likely to use this cover, especially for older houses so this should be given extra consideration.

Alternative Accommodation

If your house is badly damaged or a total loss not only is your house lost, but also your place to live. Alternative accommodation cover provides you with funds towards paying for a temporary residence.

The Christchurch earthquake showed that house repairs can take longer than you might expect. So you should ask yourself if enough alternative accommodation cover is included in your policy in a worst case scenario.

What conditions are important?

Replacement Cover Conditions

If your house suffers a total loss you are going to want good rebuild cover. Most policies are full replacement where the insurer will rebuild the house to its current size and to today’s building standards – but limited to the sum insured. Even if your house is old, the insurer will pay for a new one to be built.

Keep an eye out for policies that are limited to the house’s present value. This means if you have an older house, the insurer will only pay you to rebuild the house up to its value or condition as it currently stands – which will be depreciated.

The best replacement cover for your home is uncapped replacement to its existing size. Some popular insurers are now offering this.

This means that if your house burnt down, the insurer will pay to rebuild the house to its existing size, even if the rebuild costs more than the sum insured. However, following the Christchurch earthquakes rebuilds are still limited to the sum insured for rational disasters like earthquakes.