Consumer profiles

We've created a series of typical consumer profiles, and made recommendations for each profile. Check which one most closely resembles your situation.

• For each profile we rated the companies on both their overall average premium and our assessment of their policy cover. Our recommendations are based on a combination of good price and good cover - with policies scoring at least 4 stars for premiums and cover.
• Our focus is on open-ended replacement house policies, as these are far more popular than sum-insured cover. (See How insurance works for more information.)
• Not included in our survey are Farmers' Mutual Group (FMG) and Medical Assurance (their policies are only available to people in certain geographical locations or professions); AMP, Lumley, NZI and Vero (these companies sell exclusively through brokers or other brands rather than directly to the public); Ansvar and HSBC (these companies declined to take part in our survey).
• We used an average house price in each region: $275,000 in Napier, $310,000 in Christchurch and $470,000 in Auckland.
• All the recommended insurers (or their underwriters) are members of the Insurance and Savings Ombudsman scheme.

The profiles: Single and flatting | Young couple | Family with teenagers | Retired couple | Family of two

Single and flatting (contents cover only)

Contents only ($25,000)

Todd is 23 and wants $25,000 contents-only insurance (with personal liability cover). He shares a flat with two friends.

Our pick offered both cheap cover and extensive coverage for Todd. There are cheaper options from AMI, ANZ, ASB, FinTel, Kiwibank, Lantern, and National Bank – but these are “basic” policies. While they keep their premiums down, they give limited cover (there’s a greater emphasis on indemnity or present-day value rather than replacement value, and the cover limits on individual items are lower).

TSB Bank has a minimum of $40,000 cover. Westpac’s minimum is $34,500 for this profile. It also offers more limited Renters' Cover, but this only provides Todd with a maximum sum insured of $23,000.

See Contents-only policies compared for details of all the policies we looked at.

Young couple

Replacement value house; contents ($110,000)

Pete and Rebecca (both 35) want $110,000 contents and "replacement" house insurance for a 175 square metre house built in 1982.

See House and contents policies compared for details of all the policies we looked at.

Family of four

Replacement value house; contents ($130,000)

Rupert and Gail (both 50) and their two teenage children want $130,000 contents and "replacement" house insurance for a 175 square metre house built in 1982.

See House and contents policies compared for details of all the policies we looked at.

Retired couple

Replacement value house; contents ($90,000)

Stewart and Patricia (both 70) want $90,000 contents and "replacement" insurance for a 112 square metre house built in 1982.

ASB, BNZ, PSIS, State, and Tower all offer a special benefit solely for their customers aged 55+. There’s no excess on the first claim in each insurance period for spectacles, contact lenses or dentures.

See House and contents policies compared for details of all the policies we looked at.

Family of two

Replacement value house; contents ($110,000)

Glenys (45) and her daughter Katie (17) want $110,000 contents and "replacement" insurance for a 112 square metre house built in 1982.

See House and contents policies compared for details of all the policies we looked at.