Cost & Savings

New Zealand Car Insurance: How Your Model Impacts Premiums

By InsurspyPublished 7 September 2025

Introduction

A vehicle’s make and model can affect a New Zealand car-insurance quote, but it cannot tell you what you will pay on its own. In our editorial review as at 17 August 2026, insurers’ public guidance points to a wider calculation: the vehicle’s year, make, model, value, repair profile and theft exposure sit alongside the driver, address, claims history, chosen cover and excess.

That is why historic model rankings and old quote tables are not reliable buying guides. For a current starting point, compare car insurance options using same-day, like-for-like details, then read the policy wording before deciding.

How your vehicle can affect a premium

Insurers assess the expected cost and likelihood of claims, not simply whether a car is a hatchback, SUV, hybrid or imported vehicle. The weight given to each factor can differ between insurers and between individual quotes.

What insurers may consider	Why it can matter	What to check
Year, make and model	Claims frequency and claim cost for the same or similar vehicles can influence pricing.	Enter the vehicle details accurately, including its year and model variant.
Parts and repair complexity	Specialist or imported parts and more complex repairs may increase the expected cost of a claim.	Disclose modifications and check repair-related terms in the policy wording.
Theft exposure	A vehicle that is more attractive to thieves can represent a different theft risk.	Ask whether the insurer has security requirements or recognises particular devices in its quote.
Vehicle value and value basis	The selected value and whether cover uses agreed or market value can affect both protection and premium.	Review the insured value at purchase and renewal.
Driver and policy choices	Age, past claims, cover level, excess and other disclosed personal or policy information can affect the quote.	Keep each quote’s drivers, use, cover and excess consistent when comparing.
Location	Location and population density can affect risk and premium.	Use the actual address and usual garaging details.

The table is a comparison framework, not a pricing formula. A different quote for the same vehicle does not by itself show that one insurer is always cheaper or that one policy is better.

Theft risk: what the Toyota Aqua example shows

The latest AMI/IAG theft-claims dataset identifies the Toyota Aqua as its most frequently stolen vehicle for the fourth consecutive year. It represented 8% of theft claims in that dataset, with 54 theft claims per 1,000 insured Aquas, compared with 15 per 1,000 insured Corollas. This is useful evidence that theft exposure can be material for a particular model; it is not a national Police theft ranking and does not predict the premium charged by every insurer.

The same insurer-group dataset’s top 10 theft-claims-frequency models were Toyota Aqua, Toyota Corolla, Nissan Tiida, Mazda Demio, Toyota Vitz, Toyota Hilux, Subaru Impreza, Mazda Atenza, Toyota Mark X and Mazda Axela. It also found that nearly nine in 10 stolen vehicles were more than 10 years old, and listed Auckland, Canterbury, Waikato, Wellington and Bay of Plenty as its leading regions for theft claims, with Auckland first.

Practical theft prevention still matters, even though no device guarantees a lower premium or a claim outcome. AMI recommends measures such as parking in a garage or well-lit place, locking the vehicle, keeping valuables out of sight, and considering alarms, immobilisers, fuel cut-out switches, steering-wheel or handbrake locks, and tracking systems. Before installing anything for insurance purposes, ask the insurer whether it is required, approved or reflected in your particular quote.

Value, cover and excess: compare the protection as well as the price

A lower premium can come with a different level of protection or a larger amount to pay if you claim. Consumer Protection NZ describes the main cover types as follows:

Third party: generally the least expensive type of policy; it covers damage you cause to other people’s property.
Third party, fire and theft: adds cover for theft and fire.
Comprehensive: provides wider protection, including damage to your own vehicle.

Also check the vehicle-value basis. Market value is the vehicle’s value immediately before it is damaged. Agreed value is set with the insurer when cover is taken out and at renewal. Whichever basis applies, make sure the amount and basis are appropriate for your circumstances.

The excess is the amount you may need to contribute when making a claim. Choosing a higher excess generally reduces the premium, but only choose an amount you could realistically pay after an accident or theft.

Government charges to distinguish in 2026

Not every vehicle-related charge is part of an insurer’s risk assessment. For policies that start or renew from 1 July 2026, the Fire and Emergency New Zealand (FENZ) levy is $25 plus GST per car or EV and applies to all car-policy types, including third party cover. It is a government levy component collected through the policy, separate from the insurer’s risk-based price.

The ACC motor-vehicle levy is different: it is paid through vehicle licensing, not as an insurance-policy levy. The listed annual rate for the 2026–27 period is $56.75 for petrol passenger vehicles and $115.34 for non-petrol passenger vehicles.

How to obtain useful, like-for-like quotes

Use complete and accurate information. Include the correct drivers, address and usual garaging, vehicle use, claims history, licence details, convictions and modifications. Do not omit information to seek a lower quote; it may affect cover or claim eligibility.
Match the cover type. Compare third party, third party fire and theft, or comprehensive on the same basis.
Match value and excess. A quote based on a different agreed value, market-value basis or excess is not a direct price comparison.
Check the terms behind the quote. Read the policy wording and schedule for exclusions, driver and use conditions, limits, options and security requirements relevant to your vehicle.
Repeat at renewal. Vehicle value, risk information, levies and insurer underwriting can change, so a past quote is not a current benchmark.

Insurers providing consumer services in New Zealand generally need an FMA financial institution licence and a fair conduct programme designed to support fair treatment. If you have a concern, first complain to the insurer. If it is not resolved, you can use its free external dispute-resolution scheme.

Practical Takeaway

Do not treat a model’s old premium, theft ranking or another driver’s quote as your price. Your car’s make, model, age, value, parts and theft exposure can matter, but so can your personal profile, location and the policy design. Our team recommends obtaining current personalised quotes with identical inputs, comparing cover and excess as carefully as premium, and checking the wording before you buy or renew. This article is general information, not personalised insurance advice.

References

Author / Editorial Team

This content was produced by Insurspy’s internal editorial and research team. In our editorial review, we compare publicly available insurance information, prioritise authoritative New Zealand government, regulator and insurer sources, and update time-sensitive claims where verified current material is available. We aim to explain decision factors clearly; policy terms, eligibility and quotes remain specific to the insurer and applicant.

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