Compare Home Insurance Providers - 2025

Compare New Zealand's leading home insurance providers. All offer comprehensive cover for seniors with competitive rates and natural disaster protection.

AMI Insurance

🌐 ami.co.nz | 📞 0800 100 200

(2,234 reviews)

BEST VALUE

$44

per month (estimated)

Key Features:

Flexible excess options

Online claims platform

Home security discounts

Multi-policy savings

Temporary repairs cover

Pros & Cons:

✓ Competitive premium rates

✓ User-friendly online platform

✓ Security system discounts

✗ Basic standard coverage

✗ Regional service variations

Tower Insurance

🌐 tower.co.nz | 📞 0800 808 808

(1,876 reviews)

$46

per month (estimated)

Key Features:

Comprehensive building cover

Natural disaster protection

24/7 claims assistance

Flexible payment options

Online policy management

Pros & Cons:

✓ Long-established NZ insurer

✓ Competitive rates for seniors

✓ Strong natural disaster coverage

✗ Higher excess for lower premiums

✗ Some pre-existing damage exclusions

AA Insurance

🌐 aainsurance.co.nz | 📞 0800 500 213

(2,987 reviews)

AA MEMBERS

$48

per month (estimated)

Key Features:

AA member benefits

No excess glass claims

Garden and fencing cover

Lock replacement service

Multi-policy discounts

Pros & Cons:

✓ AA member exclusive benefits

✓ Excellent customer service

✓ Comprehensive policy options

✗ Premium rates for non-members

✗ Geographic restrictions (some areas)

State Insurance

🌐 state.co.nz | 📞 0800 80 24 24

(3,456 reviews)

$52

per month (estimated)

Key Features:

Full replacement value

Natural disaster cover

24/7 emergency repairs

Alternative accommodation

Senior citizen discounts

Pros & Cons:

✓ Comprehensive NZ coverage

✓ Strong earthquake protection

✓ 24/7 emergency support

✗ Premium pricing (high-risk areas)

✗ Higher excess for natural disasters

💡 Choosing Home Insurance

Full replacement vs sum insured: Full replacement rebuilds your home regardless of cost - better protection against underinsurance
Natural disaster cover: Essential in NZ - check earthquake, flood, and storm coverage limits
Excess options: Higher excess = lower premiums, but ensure you can afford to pay the excess if needed
Senior discounts: Ask about age-based discounts and multi-policy bundling (home + contents)

What Does Home Insurance Cover?

Home insurance protects your building (house structure) from damage or loss. Here's what typical NZ home insurance covers:

✓ Building Structure Coverage

• Walls, roof, floors: Structural components of your home
• Fixed items: Built-in wardrobes, kitchen cupboards, bathroom fixtures
• Outbuildings: Garages, sheds, carports
• Driveways & paths: Concrete or paved surfaces
• Fences: Boundary and internal fencing
• Swimming pools: In-ground and above-ground pools

✓ Common Events Covered

• Fire & explosion: Accidental fires, lightning strikes
• Weather damage: Storms, wind, hail, snow
• Water damage: Burst pipes, leaking roofs
• Theft & vandalism: Break-ins, malicious damage
• Earthquakes: Seismic activity (may have special excess)
• Floods: Natural flooding events (check coverage limits)

✓ Additional Benefits

• Alternative accommodation: Hotel/rental costs while home being repaired
• Emergency repairs: Immediate temporary repairs (tarpaulins, boarding)
• Debris removal: Cost to clear damaged materials
• Professional fees: Architects, engineers for rebuilding
• Liability protection: If someone injured on your property

✗ What's NOT Usually Covered

• Gradual damage: Wear and tear, lack of maintenance
• Pre-existing damage: Issues present before policy started
• Intentional damage: Deliberate actions by you or family
• Pests: Rodents, insects, borers (unless sudden infestation)
• Land value: Only building covered, not the land itself

Frequently Asked Questions

What should my home insurance cover?

Your home insurance should provide comprehensive protection for your building structure and related risks:

Essential Coverage:

• Full replacement: Rebuild to same standard regardless of cost
• Natural disasters: Earthquakes, floods, storms
• Fire & explosion: Complete fire protection
• Water damage: Burst pipes, roof leaks
• Theft & vandalism: Break-ins and malicious damage

Additional Protection:

• Alternative accommodation: Hotel costs during repairs
• Liability protection: $2M+ public liability
• Emergency repairs: Immediate temporary fixes
• Outbuildings: Garages, sheds, carports
• Gardens & fences: Landscaping and boundaries

💡 For Seniors: Look for policies that include:

• Senior citizen discounts (typically 5-10% off)
• 24/7 emergency support with immediate assistance
• No excess on glass breakage (AA Insurance offers this)
• Flexible payment options (monthly, quarterly, annual)
• Multi-policy discounts when bundling home + contents

How is the premium calculated?

Home insurance premiums are calculated based on multiple risk factors. Understanding these helps you find the best rates:

Location Factors:

• Natural disaster risk: Earthquake zones (Wellington, Christchurch), flood plains, coastal erosion areas = higher premiums
• Crime rates: Higher theft/burglary areas increase premiums
• Fire service access: Remote areas with longer response times pay more
• Building code zones: Seismic zones and weather exposure ratings

Property Factors:

• Age & construction: Older homes or weather board = higher risk than newer brick/concrete
• Rebuild cost: Higher sum insured or replacement value = higher premium
• Home condition: Well-maintained homes get better rates
• Home features: Swimming pools, multiple stories affect premiums

Security & Safety:

• Security systems: Monitored alarms can reduce premiums 5-15%
• Smoke alarms: Working smoke detectors (mandatory)
• Deadlocks: Secure locks on doors and windows
• Neighborhood watch: Active community safety programs

Policy Options:

• Excess amount: Higher excess ($500-$1,000) = 10-20% lower premiums
• Coverage type: Sum insured vs full replacement
• Additional covers: Each add-on increases premium
• Payment frequency: Annual payment often 5% cheaper than monthly

💡 Ways to Reduce Your Premium:

1. Increase your excess (if you can afford it)
2. Install monitored security system
3. Bundle home + contents insurance (save 10-15%)
4. Maintain your property regularly
5. Stay with same insurer (loyalty discounts)
6. Ask about senior citizen discounts
7. Pay annually instead of monthly

What's the difference between sum insured and full replacement?

This is one of the most important decisions when choosing home insurance. The difference can be significant if you need to rebuild:

Sum Insured (Fixed Amount)

You choose a specific dollar amount to insure your home for.

How it works:

• You nominate coverage amount (e.g., $500,000)
• Insurer pays up to that amount maximum
• You're responsible if rebuild costs exceed amount
• Lower premiums than full replacement

⚠️ Risk:

If you underinsure and rebuild costs $600,000, you pay the $100,000 shortfall yourself

Full Replacement (Unlimited)

Insurer covers whatever it costs to rebuild your home.

How it works:

• No specific dollar limit set
• Insurer pays full rebuild cost regardless of amount
• Protected against underinsurance
• Covers building cost increases

✓ Peace of Mind:

Even if rebuild costs $800,000 vs expected $500,000, you're fully covered

Real Example - Christchurch Earthquakes:

Many homeowners discovered the critical difference after the 2011 earthquakes:

• Sum insured customers: Some were underinsured by $100,000-300,000 and had to pay the difference themselves or accept inferior rebuilds
• Full replacement customers: Homes were rebuilt to original standard regardless of increased costs due to high demand
• Building costs surge: Rebuild costs increased 30-40% due to demand and materials shortages

💡 Recommendation for Seniors:

Full replacement is strongly recommended because:

• Building costs increase faster than expected (materials, labor)
• Natural disasters cause regional cost surges
• Modern building code requirements add costs
• Premium difference is typically only 10-15% higher
• Peace of mind - no risk of shortfall

Exception: If you have substantial savings and can afford to cover potential shortfalls, sum insured with lower premiums might work for you.

Are natural disasters covered?

Yes, but with important variations depending on the specific natural disaster and your policy. New Zealand home insurance generally covers natural disasters, but here's what you need to know:

✓ Typically Covered Natural Disasters:

• Earthquakes: Covered but often with higher excess ($500-$5,000+)
• Storms & wind: Usually fully covered with standard excess
• Floods: Covered but may have special conditions or limits
• Landslides: Generally covered if sudden and accidental
• Volcanic eruption: Covered but rare in most areas
• Tsunami: Covered under natural disaster provisions

EQC (Earthquake Commission) in New Zealand:

NZ has a unique government insurance scheme for natural disasters:

• Automatic coverage: Included with your home insurance (small levy added to premium)
• What EQC covers: First $150,000 + GST of damage from earthquakes, natural landslips, volcanic eruptions, hydrothermal activity, tsunamis
• Your insurer covers: Damage above $150,000 (if you have private insurance)
• Land coverage: EQC covers up to $150,000 land damage (private insurers don't cover land)

⚠️ Special Considerations:

• Higher excesses: Earthquake excess often $500-$1,000+ higher than standard
• High-risk zones: Wellington, Christchurch may have higher earthquake excesses ($5,000+)
• Flood exclusions: Properties in known flood zones may have limited or no flood cover
• Age of property: Older homes may face restrictions or higher excesses
• Gradual damage: Slow-moving landslips or subsidence not covered (must be sudden)

Questions to Ask Your Insurer:

1. What's my earthquake excess? (can vary from $200 to $10,000+)
2. Is flood damage covered for my specific property location?
3. Are there any natural disaster exclusions for my area?
4. How does EQC coverage work with my policy?
5. What happens if there's a major regional disaster? (is capacity limited?)

Real Cost Examples for NZ Seniors

Here's what New Zealand seniors typically pay for home insurance based on different property types and locations:

✓ Margaret, 68 - Auckland Weatherboard

Property: 1960s 3-bedroom weatherboard in Mt Albert

Sum insured: $650,000 (full replacement)

Excess: $500 standard, $1,000 earthquake

Security: Basic deadlocks + smoke alarms

Provider: AMI Insurance

$52/month = $624/year

✓ Full replacement cover
✓ Alternative accommodation included
✓ Senior discount applied (5%)
✓ Multi-policy discount (bundled with contents)

Tom, 72 - Wellington Brick & Tile

Property: 1980s 2-bedroom brick unit in Lower Hutt

Sum insured: $480,000 (full replacement)

Excess: $500 standard, $2,500 earthquake

Security: Monitored alarm system

Provider: Tower Insurance

$64/month = $768/year

✓ Full replacement cover
✓ Higher earthquake excess (Wellington zone)
✓ Security system discount (10%)
✓ Earthquake premium surcharge applies

David, 70 - Christchurch Modern

Property: 2015 3-bedroom brick home in Halswell

Sum insured: $720,000 (full replacement)

Excess: $500 standard, $1,500 earthquake

Security: Monitored alarm + deadlocks

Provider: AA Insurance (AA member)

$58/month = $696/year

✓ Full replacement cover
✓ Modern construction discount
✓ AA member discount (10%)
✓ Lower earthquake excess (post-2011 build)

Helen, 66 - Hamilton Standalone

Property: 1975 4-bedroom standalone in Hillcrest

Sum insured: $580,000 (sum insured, not replacement)

Excess: $1,000 standard, $1,000 earthquake

Security: Basic locks only

Provider: State Insurance

$44/month = $528/year

≈ Sum insured (NOT full replacement)
≈ Higher excess ($1,000) for lower premium
✓ Low earthquake risk area
⚠️ Risk of underinsurance if rebuild costs exceed $580k

💡 What These Examples Teach Us

• Location matters: Wellington premiums 20-30% higher due to earthquake risk
• Construction type: Brick/concrete cheaper than weatherboard
• Age of home: Modern homes (post-2000) get better rates
• Security systems: Can save 5-15% on premiums
• Higher excess: Can reduce premiums 15-25% but ensure you can afford it
• Full replacement vs sum insured: Full replacement costs 10-15% more but eliminates underinsurance risk

How to Calculate Your Sum Insured

If you choose sum insured (instead of full replacement), it's critical to get the amount right. Underinsuring can leave you severely out of pocket if you need to rebuild.

Step-by-Step Sum Insured Calculator

Step 1: Calculate Building Area (m²)

Measure your home's floor area including:

• Main house floor area (all levels)
• Attached garage (if part of main structure)
• Enclosed verandas, decks, patios
• Example: 3-bedroom home = typically 120-180 m²

Step 2: Determine Rebuild Cost Per m²

2025 average rebuild costs in NZ (per m²):

Construction Type	Standard Quality	Higher Quality
Weatherboard	$2,800-$3,200	$3,500-$4,000
Brick veneer	$3,000-$3,400	$3,800-$4,500
Concrete block	$3,200-$3,600	$4,000-$5,000
Brick & tile	$3,400-$3,800	$4,200-$5,500

Step 3: Add Extra Costs

Don't forget additional rebuild costs:

• Detached garage/shed: Add $40,000-$80,000
• Second story: Add 15-20% to total cost
• Complex roof: Add 10-15%
• High-spec fittings: Add 20-30%
• Demolition & site prep: Add $20,000-$50,000
• Architect & consent fees: Add $15,000-$30,000

Step 4: Calculate Total Sum Insured

Example Calculation:

• House area: 150 m²

• Construction: Brick veneer standard quality = $3,200/m²

• Base cost: 150 × $3,200 = $480,000

• Detached garage (40 m²): +$50,000

• Demolition & site prep: +$30,000

• Architect/consent fees: +$20,000

Total Sum Insured: $580,000

⚠️ Important: Add 20% Buffer

Building costs can increase significantly due to:

• Natural disasters causing regional demand surges (Christchurch saw 30-40% increases)
• Materials shortages (COVID-19 caused 15-25% price increases)
• New building code requirements
• Labor shortages driving wage inflation

In the example above, insure for $580,000 × 1.20 = $696,000 to be safe, or better yet, choose full replacement cover.

Home Insurance Tips for Seniors 65+

✓ Ways to Reduce Your Premium

1
Install security systems: Monitored alarms can save 10-15% on premiums
2
Bundle policies: Combine home + contents for 10-15% multi-policy discount
3
Increase excess: Raise excess from $500 to $1,000 = 15-20% lower premiums
4
Ask for senior discounts: Many insurers offer 5-10% for over 65s
5
Pay annually: Annual payments often 5% cheaper than monthly
6
Maintain your home: Regular maintenance prevents claims and keeps premiums lower

✓ Don't Forget to Cover

•
Detached structures: Garages, sheds, glasshouses - ensure they're included
•
Gardens & landscaping: Mature gardens can cost $10,000-$30,000+ to replace
•
Swimming pools & spas: Add $20,000-$50,000 to sum insured
•
Retaining walls: Often excluded or limited - check policy
•
Solar panels: Add cost to sum insured or check if covered
•
Home office equipment: May need separate business cover

⚠️ Common Mistakes to Avoid

✗
Underinsuring: Setting sum insured too low to save premium - leaves you exposed
✗
Not reviewing annually: Building costs increase - review sum insured every year
✗
Excess too high: Can you afford $2,000+ out of pocket for repairs?
✗
Not disclosing modifications: Renovations must be declared or claims denied
✗
Letting policy lapse: Even 1 day gap means no coverage for events during that time

💰 Maximizing Senior Benefits

✓
Join AA: AA members get 10% discount with AA Insurance
✓
Loyalty matters: Staying with same insurer 5+ years can earn loyalty discounts
✓
No-claims bonus: Some insurers reduce premiums after 3-5 claim-free years
✓
Ask about Gold Card: Some insurers offer SuperGold Card holder discounts
✓
Home safety review: Some insurers offer free home safety assessments

How to Make a Home Insurance Claim

Knowing how to make a claim can speed up the process and reduce stress during difficult times:

Immediate Safety First

Before anything else, ensure everyone is safe:

✓ Evacuate if home is unsafe (fire, flood, structural damage)
✓ Call emergency services if needed (111)
✓ Turn off utilities if dangerous (gas, electricity, water)
✓ Secure the property if possible (lock doors, board windows)

Document Everything

Evidence is crucial for your claim:

✓ Photos & videos: Take extensive photos/videos of all damage from multiple angles
✓ Keep damaged items: Don't throw away damaged items until insurer assesses
✓ Write down details: Date, time, what happened, who was present
✓ Get quotes: For emergency repairs (but check with insurer first)
✓ Save receipts: For emergency accommodation, temporary repairs

Contact Your Insurer

Report the claim as soon as possible:

Have this information ready:

• Your policy number
• Date and time of incident
• Detailed description of what happened
• Extent of damage (photos help)
• Whether anyone was injured
• Police report number (if applicable)

Contact Numbers:

• AMI: 0800 100 200
• Tower: 0800 808 808
• AA Insurance: 0800 500 213
• State: 0800 80 24 24

Assessor Visit & Approval

Your insurer will send an assessor to inspect the damage:

✓ Timeframe: Assessor typically visits within 3-10 days
✓ Be present: Show them all damage, answer questions
✓ Ask questions: What's covered, what's not, next steps, timelines
✓ Get it in writing: Ask for written confirmation of approved claim amount
✓ Dispute if needed: You can challenge the assessment if you disagree

Repairs & Settlement

Two options for getting repairs done:

Option A: Insurer-Managed

• Insurer arranges contractors
• You pay excess, insurer pays rest
• Repairs guaranteed by insurer
• Less hassle for you

Option B: Cash Settlement

• Insurer pays you approved amount
• You arrange your own contractors
• More control over repairs
• Can save money if you find cheaper quotes

⏱️ Typical timelines:

• Small claims: 2-4 weeks from claim to completion
• Medium claims: 1-3 months
• Major claims: 3-12 months (or longer for complex rebuilds)

Protect Your Home Today

Compare home insurance quotes from New Zealand's leading providers. Get comprehensive coverage with senior discounts from $44/month.

$44

Starting from/month
(AMI Insurance)

24/7

Emergency support
& claims assistance

Senior

Discounts & benefits
available

Get Quotes Today:

AMI Insurance
🌐 ami.co.nz
📞 0800 100 200

Tower Insurance
🌐 tower.co.nz
📞 0800 808 808

AA Insurance
🌐 aainsurance.co.nz
📞 0800 500 213

State Insurance
🌐 state.co.nz
📞 0800 80 24 24

Home Insurance for Seniors 🇳🇿

Senior Discounts Available

Compare Home Insurance Providers - 2025

AMI Insurance

Key Features:

Pros & Cons:

Tower Insurance

Key Features:

Pros & Cons:

AA Insurance

Key Features:

Pros & Cons:

State Insurance

Key Features:

Pros & Cons:

💡 Choosing Home Insurance

What Does Home Insurance Cover?

✓ Building Structure Coverage

✓ Common Events Covered

✓ Additional Benefits

✗ What's NOT Usually Covered

Frequently Asked Questions

Sum Insured (Fixed Amount)

Full Replacement (Unlimited)

Real Cost Examples for NZ Seniors

✓ Margaret, 68 - Auckland Weatherboard

Tom, 72 - Wellington Brick & Tile

David, 70 - Christchurch Modern

Helen, 66 - Hamilton Standalone

💡 What These Examples Teach Us

How to Calculate Your Sum Insured

Step-by-Step Sum Insured Calculator

Step 1: Calculate Building Area (m²)

Step 2: Determine Rebuild Cost Per m²

Step 3: Add Extra Costs

Step 4: Calculate Total Sum Insured

⚠️ Important: Add 20% Buffer

Home Insurance Tips for Seniors 65+

✓ Ways to Reduce Your Premium

✓ Don't Forget to Cover

⚠️ Common Mistakes to Avoid

💰 Maximizing Senior Benefits

How to Make a Home Insurance Claim

Immediate Safety First

Document Everything

Contact Your Insurer

Assessor Visit & Approval

Repairs & Settlement

Protect Your Home Today

Get Quotes Today: