Whether you’re a homeowner, renter, or student, contents insurance offers peace of mind by covering your belongings against theft, natural disasters, and accidental damage. With rising insurance costs across New Zealand, this guide will help you understand why contents insurance is essential and how to choose the right policy to protect your valuables at the best price.
What is contents insurance?
Contents insurance protects your personal belongings—like furniture, electronics, and jewellery—by covering the cost of repairs or replacements if they’re lost or damaged. Events such as theft, burglary, accidental damage, or natural disasters (like earthquakes and floods) are typically covered. Whether you rent or own your home, having contents insurance in New Zealand is crucial for staying financially secure.
Is contents insurance a must-have or a nice to have?
New Zealand’s stunning landscapes come with unpredictable weather, leading to natural disasters like earthquakes and floods that can damage homes. But it’s not just major events—everyday accidents, like spilled drinks or dropped vases, can result in costly damage too. With a contents insurance policy, you’re protected from financial loss and even legal liability in some cases. It ensures you can recover and rebuild when life throws the unexpected your way. Beyond financial security, contents insurance gives you peace of mind, so you can enjoy your home without worrying about unexpected loss.
Choosing the right contents insurance for your needs
Finding the right contents insurance policy in New Zealand is easy with Quashed. You’ll get real-time quotes and flexible options tailored to your needs. Forget spending hours searching the internet—Quashed simplifies the process by managing key details and explaining everything in plain Kiwi English.
With Quashed, you can:
Get real-time quotes: See the latest prices for contents insurance from multiple providers in just a few minutes.
Select your sum insured and excess: Adjust these settings to fit the value of your belongings and your budget.
Compare policies side by side: Quashed provides a clear breakdown of premiums, excesses, and coverage features from leading providers.
Focus on key features: You can quickly find benefits like accidental loss, worldwide coverage, and liability limits.
If you own special or older items, it's smart to get a professional valuation. An appraiser can provide an accurate estimate for your insurance, which is especially important for high-value items.
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$2,023.79 a year by shopping their insurance!
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How much is contents insurance in New Zealand?
Insurance costs vary based on factors like location, age, and coverage level. According to the Quashed Index, the average annual cost of home contents insurance in New Zealand was $844 in Q3 2024—a rise of 11.5% compared to the previous year.
Here’s the breakdown by region:
Region | Yearly Average Cost ($) | Difference to National Average ($) |
|---|---|---|
National | $844 | |
Auckland | $755 | -$89 |
Canterbury | $865 | +$21 |
Wellington | $1,054 | +$210 |
The cost of contents insurance varies based on where you live and your personal circumstances. For example, premiums in Auckland tend to be lower because of fewer natural disaster risks, while Wellington premiums are higher due to earthquake risks. In Christchurch, premiums are slightly above average due to ongoing rebuilding efforts after past earthquakes.
Age also plays a role—younger adults (25–30) may face higher premiums due to more claims for accidental damage, while those in their 30s–40s typically enjoy lower premiums as their claims history improves. Seniors (50+) may see higher premiums because they often insure more valuable items, but they can find tailored policies with lower excesses and more affordable options.
The good news? Quashed lets you compare quotes in minutes, helping you find the best deal for your location and age.
Tips for valuing your stuff the right way
When it comes to contents insurance, getting the right value for your belongings is key. Here are some quick tips to make sure you’re covered:
Take stock of what you own: Start by listing all your major items, like electronics, furniture, and jewellery. Don’t forget about things like bikes or sports gear that can be easy to overlook.
Keep receipts or photos: Having receipts or photos of your stuff will help you know exactly how much it’s worth, especially if you need to claim
Think about replacement costs: Don’t just base the value on what you paid for something. Calculate what it would cost to replace the item today. This ensures you’re fully covered if the unexpected happens.
Review your policy regularly: As your belongings change over time, make sure your coverage reflects that. Review your insurance every year or after major purchases, like upgrading your tech or getting new furniture.
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What should you consider in choosing contents insurance?
When it comes to contents insurance, it’s about more than just picking the cheapest premium. You want to make sure you’re covered properly. Here are some things to keep in mind:
Excess: This is what you’ll pay when making a claim. A higher excess can lower your premium, but make sure it’s an amount you’re comfortable paying if something goes wrong. Tip: Find an excess that works for your budget but doesn’t leave you in a bind if you need to claim.
What’s not covered: Always read the fine print. Some policies won’t cover things like natural disasters or accidental damage, so it’s crucial to know what’s included. Tip: If you live in an area prone to earthquakes or floods, double-check that your policy covers these risks.
Valuables: If you’ve got items like jewellery, electronics, or artwork, make sure they’re fully covered. Tip: Check if your policy has limits for valuables—if it does, you might need to add extra cover for high-value items.
Theft and accidental damage: Check that your policy covers theft, vandalism, and accidents, especially if you have flatmates or kids who might cause a mishap. Tip: Accidental damage cover is a must for anyone with young ones or roommates.
Sort out your stuff the smarter way
Getting contents insurance doesn’t have to be a mission. It’s all about protecting your stuff—whether it’s from theft, damage, or those unexpected disasters we all hope never happen.
With insurance costs rising, making the right choice matters more than ever. That’s where Quashed comes in. You’ll get real-time quotes, tweak your cover and excess to suit your needs, and compare options side by side. It’s insurance, the Kiwi way: simple, fast, and stress-free.
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FAQs
Can I insure specific high-value items separately?
Yes, you can usually get insurance for valuable items like jewellery or artwork separately. It’s worth discussing the available coverage options with your insurance company. Be sure to ask about any exclusions or limits that might apply apply.
How much should contents insurance cover?
When deciding how much contents insurance you need, it’s essential to know the value of your belongings. You want enough cover to replace everything if something happens—whether it’s a break-in, fire, or natural disaster.
Start by taking stock of your possessions—from furniture and electronics to your personal items like jewellery or bikes. Then, think about how much it would cost to replace everything at today’s prices, not what you originally paid for them. Make sure your policy covers the replacement value, not just the depreciated cost.
Tip: Use a contents calculator, available on most insurer websites, to help you figure out what level of coverage you’ll need. And remember, if you have valuable items, you might need to add specific cover for things like art or high-end electronics.
