1cover FMG IAG NZ: DriveRight Mike Henry Travel Insurance NAC Insurance Swann Insurance Pinnacle Southern Cross: Southern Cross Health Society Southern Cross Pet Insurance Southern Cross Travel Insurance Sovereign Suncorp: AA Insurance Asteron life Vero Tower Unimed Youi

New Zealand Insurance Companies

Do you hear the word “insurance” all the time especially now that you have reached the life of adulthood and know nothing about it? If that is the case, then this article is the right place for you to be in right now because it will discuss what insurance is all about and what the different types of it are.

Insurance is some sort of a risk management wherein the insured transfers the cost of potential loss to another person or entity in exchange for a monetary value which is known as the premium.

Insurance is a way of protecting individuals, businesses and other entities against potential losses and financial troubles at an affordable rate. This is significant if you want to protect yourself against monetary loss.

Types of Insurances

For those who don’t know yet, insurance covers different aspects wherein it can benefit any types of entities in every way.
Check out these different types of insurances so that you will know what to get when you apply for one.

Life Insurance

The coverage for this type of insurance is for the specified beneficiaries wherein they will be paid with a certain amount of money in the events that the insured has died.

In most cases, this is the primary insurance that people get so that they will have something to leave for their loved ones, especially if the insured is the breadwinner of the family.

The common period of coverage for a life insurance usually lasts for more than a year. It will require periodic premium payments (monthly, quarterly or yearly).

Risks covered by this type of insurance:

  • Illness
  • Premature death
  • Income during retirement

Main products of this type of insurance:

  • Term
  • Whole life
  • Endowment
  • Life annuity plan
  • Investment-linked
  • Medical and health

General Insurance

This is an insurance policy that will protect individuals against damages and losses apart from the ones covered by life insurance.

To let you in the know about the comprehensive coverage, you should have an understanding about the risks covered so that you will protect you and family from unforeseen losses.

Risks covered by this type of insurance:

  • Property losses (e.g. cars, houses, etc.)
  • Accidental injury or death
  • Liability that arises from damage caused by you towards a third party

Main products of this type of insurance:

  • Travel insurance
  • Motor insurance
  • Householders / homeowners / fire insurance
  • Medical and health insurance
  • Personal accident insurance


Human life is not possible without any risks involved. The best way that you can deal with such scenario is to have yourself insured. This protection is not primarily for yourself but for the family that you will be leaving behind and that is the reason why insurance companies exists and functions from different parts of the world. So as early as possible, get yourself insured and secure your assets, particularly your family, because you will never know when such a dreadful scenario will happen.

Insurance in New Zealand

New Zealand has many insurance companies, which provide a range of insurance services to consumers including home insurance, contents, life, medical, and travel policies; as well as consumer finance and goods specific policies. Many of the major insurance brands are independently owned, some are part of larger parent companies which offer both direct and intermediated insurance and others operate solely online. All New Zealand insurance companies are regulated by the Reserve Bank under The Insurance (Prudential Supervision) Act 2010 to make sure that the sector operates efficiently and to promote public confidence in the sector. In addition, the Act also requires licensed insurers to list a financial strength rating from an approved agency such as Standard and Poor's.

Main New Zealand Insurance Companies:


1cover are a direct travel insurance company. They were discovered...

more details

FMG is an insurance company in New Zealand, has a financial strength rating of A (excellent) from A M best.

more details
IAG NZ DriveRight Mike Henry Travel Insurance NAC Insurance Swann Insurance

IAG NZ is a major insurance provider and offers both direct insurance and intermediated...

more details

Pinnacle are a New Zealand owned and operated online life insurance company.

more details
Southern Cross

Southern Cross Group was established in 1961 and its primary interest is in the health sector.

more details

Sovereign have been offering insurance in New Zealand for the past 25 years.

more details
Suncorp AA Insurance Asteron life Vero

Suncorp group are a large finance, banking, and insurance corporation who are based...

more details

Tower are a New Zealand owned and operated insurance company specialising in home...

more details

Unimed has been operating since 1979 and specialises in individual and workplace health insurance.

more details

Youi is a general insurance company who offer vehicle and home insurance.

more details