Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

24% Of Kiwi Motorists Have Collided With An Uninsured Driver

News highlights:

  • 70% of New Zealand drivers have been involved in a road accident
  • 89% of Kiwis are in favour of making car insurance mandatory
  • Find out the top ways to lower the cost of your premium

Kiwi drivers may be putting themselves and others at risk by not taking out car insurance, according to new research by Finder, a car insurance comparison website in New Zealand.

A nationally representative Finder survey of 1,882 New Zealand drivers aged 18 and above has revealed that almost a quarter of Kiwi drivers (24%) have been hit by an uninsured driver.

ACC statistics show there have been 40,979 active road injury claims from January 2020 to 31 October 2020, totalling $451 million. Car accidents make up over half of those claims.

Despite car insurance not being compulsory in New Zealand, Finder’s research found that 89% of Kiwis are in favour of making it a legal requirement.

Kevin McHugh, Finder’s publisher in New Zealand, said that there is a worrying number of uninsured drivers on the road.

“Uninsured drivers expose themselves and others to potential financial loss, and this is a big concern.

“Without car insurance, drivers are left with no recourse when it comes to financing repairs, and this can be financially devastating in some cases,” McHugh said.

Finder’s research found that male drivers are most likely to have had a crash, with 76% admitting that they’ve been in an accident, compared to just 65% of women.

According to New Zealand Police statistics, there were 291,209 traffic events between 1 July 2018 and 30 June 2019, with 40,657 of these considered “emergency” traffic events.

McHugh urged uninsured drivers to consider their options for car insurance policies.

“If you get in an accident, comprehensive car insurance will cover damages to your own vehicle along with any others involved, regardless of whether you're at fault.

“Third party car insurance is a cheaper alternative, but only covers damages made to someone else’s vehicle, and not your own.

“If you’re unsure where to start, Finder offers tips for comparing insurance policies, along with hacks for lowering the cost of your premium,” McHugh said.

For more research on car insurance in New Zealand, visit: www.finder.com/nz/car-insurance-survey-2020

Methodology

  • This study was designed by Finder and conducted by Qualtrics, an SAP company.
  • The online Finder survey was conducted using a nationally representative survey sample of 1,882 Kiwi drivers aged 18 and above.
  • Calculation includes 22% of respondents who say they have been in an accident where the other driver was uninsured, and 2% of respondents who say both drivers were uninsured.

Top ways to lower the cost of your premium:

Pay a higher excess. The excess is the amount that you say you’ll pay if you make a claim. If you increase your excess amount, your insurance company perceives you as less likely to make a claim, which can lower the overall cost of your premium.

Restrict certain drivers. Most policies give you a cheaper premium if you restrict specific drivers from taking your wheels for a spin. Consider restricting drivers like under-25s, seniors, learners or those with a restricted licence.

Bundle your policies together. If you already have home insurance, consider sticking with the same provider for your auto insurance. When you group multiple policies, you may be able to benefit from a multi-policy discount, which can take a significant chunk out of your car insurance premium.

Compare. Get multiple quotes from different insurers to make sure you’re getting the best quote out there. But don’t be fooled by policies that are overly cheap – this can sometimes compromise your cover.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

TradeMe: Property Prices In Every Region Hit New High For The Very First Time

Property prices experienced their hottest month on record in December, with record highs in every region, according to the latest Trade Me Property Price Index.\ Trade Me Property spokesperson Logan Mudge said the property market ended the year with ... More>>

Motor Industry Association: 2020 New Vehicle Registrations Suffer From Covid-19

Chief Executive David Crawford says that like some other sectors of the New Zealand economy, the new vehicle sector suffered from a case of Covid-19. Confirmed figures for December 2020 show registrations of 8,383 were 25% ... More>>

CTU 2021 Work Life Survey: COVID And Bullying Hit Workplaces Hard, Huge Support For Increased Sick Leave

New data from the CTU’s annual work life survey shows a snapshot of working people’s experiences and outlook heading out of 2020 and into the new year. Concerningly 42% of respondents cite workplace bullying as an issue in their workplace - a number ... More>>

Smelter: Tiwai Deal Gives Time For Managed Transition

Today’s deal between Meridian and Rio Tinto for the Tiwai smelter to remain open another four years provides time for a managed transition for Southland. “The deal provides welcome certainty to the Southland community by protecting jobs and incomes as the region plans for the future. The Government is committed to working on a managed transition with the local community,” Grant Robertson said. More>>

ALSO:

University of Auckland: Pest-Free Goal Won’t Be Achieved Without New And Better Tools

New Zealand’s goal to become predator free by 2050 will remain an unrealised dream unless new technologies and advances in social engagement continue to be developed, researchers who first promoted it say. A team from the University of Auckland has ... More>>

OECD: Area Employment Rate Rose By 1.9 Percentage Points In The Third Quarter Of 2020

OECD area employment rate rose by 1.9 percentage points in the third quarter of 2020, but remained 2.5 percentage points below its pre-pandemic level The OECD area [1] employment rate – the share of the working-age population with jobs – rose ... More>>

Economy: Strong Job Ad Performance In Quarter Four

SEEK Quarterly Employment Report data shows a positive q/q performance with a 19% national growth in jobs advertised during Q4 2020, which includes October, November and December. Comparing quarter 4, 2020, with the same quarter in 2019 shows that job ad volumes are 7% lower...More>>

NIWA: 2020 - NZ’s 7th-warmest Year On Record

The nationwide average temperature for 2020, calculated using stations in NIWA’s seven-station temperature series which began in 1909, was 13.24°C (0.63°C above the 1981–2010 annual average). New Zealand’s hottest year on record remains 2016, when... More>>