Insurer Reviews
Trade Me Car Insurance Review 2026
Introduction
Trade Me Car Insurance is a Trade Me-branded private-car insurance offering underwritten and provided by Tower Limited, with policies distributed through Trade Me Insurance. As at 17 August 2026, it offers three cover levels: Comprehensive, Third Party Fire and Theft, and Third Party Only.
In our editorial review, the key point is to assess the cover level, agreed or market-value basis, excesses and optional benefits against your own needs—not to assume one insurer will be cheapest for every driver. Trade Me members who meet the applicable criteria may receive up to 15% off premiums excluding taxes and levies.
At a glance
| Item | What the current information says | Why it matters |
|---|---|---|
| Underwriter | Tower Limited | The insurer behind the policy is relevant when reviewing policy wording and financial-strength information. |
| Cover levels | Comprehensive; Third Party Fire and Theft; Third Party Only | Choose the level that reflects whether you want cover for loss or damage to your own car. |
| Liability cover | Up to $20 million under all three levels | Third-party liability can be important even where your own car has limited value. |
| Vehicle-value basis | Comprehensive uses agreed value; Third Party Fire and Theft uses market value for fire/theft claims | The settlement basis can materially affect the amount payable following a covered total loss. |
| Online service and claims | My Insurance is the published self-service route; the claims phone number is 0800 950 145 | Check that the available contact route suits how you prefer to manage a policy or claim. |
Cover levels explained
Comprehensive
Comprehensive is the broadest of the three options. It includes collision cover for the insured car and uses an agreed value. The policy wording defines agreed value as the amount agreed when cover starts, changes or renews, as shown on the latest certificate of insurance. This is different from market value, so check the certificate carefully at each renewal.
The current wording also provides a repair guarantee for work completed by a Tower recommended repairer for as long as you own the car. A replacement or additional car bought for $125,000 or less may be automatically covered for 14 days, subject to the wording, limits and conditions. These provisions are useful safeguards, but they are not substitutes for reading the full policy terms.
Third Party Fire and Theft
This option combines third-party liability protection with cover for fire or theft loss to the insured car. The product comparison states that fire and theft cover is based on market value rather than the agreed-value basis used by Comprehensive cover.
Third Party Only
Third Party Only provides third-party liability protection but does not cover fire or theft loss to your own vehicle. It may be worth considering if your priority is liability protection and you are comfortable carrying the financial risk of loss or damage to your car.
Excesses, liability and key policy conditions
All three cover levels currently include legal-liability protection up to $20 million. This does not mean every liability scenario is automatically covered: the policy wording, exclusions and claim circumstances still apply.
Your excess is the amount you may need to contribute to a claim. Trade Me says choosing a larger excess generally means a smaller premium, and additional excesses may apply according to a driver's age and experience. When we compare policy information, we recommend considering the excess alongside the premium rather than treating the lowest quote as the lowest overall cost.
For Comprehensive cover, the current wording says that if you identify the at-fault party and Tower is satisfied that person was more than 50% at fault, you keep your no-claims bonus and do not pay an excess. This is conditional, so retain relevant details and evidence after an accident.
Private-car cover is intended for social, domestic and private purposes, including commuting and community or charity work. Business use needs to be disclosed. Do not assume that delivery, rideshare, car-share or other commercial activity is covered without confirmation from Trade Me Insurance or Tower.
Optional benefits and discounts
Options and eligibility can vary by cover level and policy. The current product information identifies the following items to check:
- RoadWise roadside assistance: optional on all three cover levels, with three free call-outs a year. It covers the car, so a person driving it can use the service across New Zealand.
- Windscreen excess buyout: optional with Comprehensive and Third Party Fire and Theft, but not Third Party Only.
- Rental vehicle hire for loss of use: an optional Comprehensive benefit. The current wording limits reasonable costs to up to $1,000 and applies further conditions and time limits.
- Accessories and modifications cover: listed among the optional benefits in current official material. Check the applicable wording and your certificate for the scope of cover.
- Trade Me member discount: eligible members may receive up to 15% off premiums excluding taxes and levies, subject to the applicable terms and eligibility criteria.
A no-claims bonus may apply where eligible. However, the multi-policy discount for Trade Me private-car policies was discontinued from 28 January 2026. It should not be treated as a saving available to new or renewing private-car customers.
Who may want to compare Trade Me Insurance?
Trade Me Car Insurance may suit people who prefer an online quotation and self-service route, want a choice of three mainstream cover levels, or are eligible for the Trade Me member discount. Comprehensive may be more relevant to drivers seeking agreed-value and collision cover for their own vehicle, while the third-party options can be considered by people willing to accept more risk for their own car.
It may be less suitable if the certificate, excess structure, vehicle valuation or optional-benefit limits do not match your circumstances. A personalised quote is essential: premiums, eligibility and policy terms are not the same for every driver or vehicle.
Claims and customer contact
Trade Me Insurance directs customers to My Insurance for self-service, including policy management and claims. Its current published claims phone number is 0800 950 145; the contact page states phone claims hours are Monday to Friday, 8am to 6pm. Use the current contact information and policy documents available when you need to claim, as processes can change.
Financial strength and regulation
Tower Limited is the policy underwriter. Tower says A.M. Best reaffirmed its financial-strength rating of A- (Excellent) with a stable outlook in April 2026. This is a financial-strength assessment of Tower, not a product rating or a guarantee that a particular claim will be accepted or paid.
The Financial Markets Authority lists Tower Limited as an active licensed Financial Institution (FSP41165). Regulatory status and financial-strength information are useful context, but readers should still compare the policy wording, exclusions, excesses and their own quote.
Practical Takeaway
- Decide whether you need cover for damage to your own car, or primarily third-party liability protection.
- For Comprehensive, confirm the agreed value on your latest certificate; for Third Party Fire and Theft, understand that fire/theft cover uses market value.
- Compare like-for-like quotes, including excesses, optional benefits and the member-discount eligibility rules.
- Disclose any business use and ask for confirmation before relying on cover outside ordinary private use.
- Read the current policy wording and certificate before purchase or renewal. For a broader market check, you can compare car insurance options with Insurspy.
This article is general information, not personalised insurance advice. The policy wording, certificate of insurance, eligibility criteria and insurer's decision on a claim control the cover available.
References
- Trade Me Insurance — Why Trade Me Insurance
- Trade Me Insurance — Car insurance
- Trade Me Insurance — Car comprehensive cover policy wording
- Trade Me Insurance — Terms and Conditions
- Trade Me Insurance — Contact us
- Tower Limited — Financial strength rating
- Financial Markets Authority — Tower Limited licensed provider record
- New Zealand Consumer Protection — Car insurance
Author / Editorial Team
This content was produced by Insurspy's internal editorial and research team. In our editorial review, we compare publicly available policy information, prioritise insurer, regulator and government sources, and update material when verified product information changes. We aim to explain practical insurance trade-offs clearly; we do not replace the policy wording or provide personalised advice.