Westpac Car Insurance review: The Ultimate Guide for kiwis

Cars are the easiest way to reach somewhere with ease of comfort. But driving our car on roads and highways has some risks. No, I am not talking about that you should not drive cars.

But keeping our car and ourselves safe is a wise man’s decision always. However, in New Zealand, there is no government commitment to compulsory insurance. But as I said before, a wise man decides to keep himself safe and secure in every situation.

We know how much charges/costs we need to pay if we damage someone’s property. I might take our whole savings. Why don’t we spend a little, approximately $50 to $120 per month, and be safe for such things?

Today, we have an insurance company that offers three different insurance plans. We always recommend that our readers have at least third-party insurance. It is a safety net for your family and yourself.

Who Needs Westpac Car Insurance in New Zealand?

You don’t need car insurance to drive your vehicle on NZ roads. But always remember that your car insurance is as essential as fuel for your car.

It keeps you safe if, unfortunately, you hit someone’s car or property. And it may happen for whatever reason, so if you are one of those who want to stay safe from paying any money from their pocket, then you can choose car insurance.

Introduction to Westpac Car Insurance 

Westpac has been one of the large businesses since 1861 in New Zealand with over 1.5 million customers and employs five thousand people. Westpac offers banking and investing services.

But Westpac car insurance is underwritten by IAG New Zealand Limited, which has an AA rating from Standard & Poor’s, which is an approved rating agency.

So, Westpac only guides you about what you will get and will even help you file a claim. But Westpac isn’t itself an insurer.

Here, Westpac receives a commission from IAG to get an insurance buyer for them.

Westpac Car Insurance NZ offers three main insurance plans, and you can choose any one of them that best suits you and your needs.

What Westpac Car Insurance Covers in New Zealand

Westpac car insurance is designed to meet anyone’s needs. Westpac has three insurance plans to serve you.

• Full cover: As with its name, you can understand it covers your car for accidental damage as well as damage to someone else’s vehicle or property.
• Third-party, Fire & theft: This plan covers damage to someone else’s vehicle or property while driving and protects your car in the case of loss or damage by Fire or theft.
• Third-party only: It is the basic coverage that covers you in case you damage someone else’s property or vehicle while driving.

These are the definitions of each plan, which you can understand, but these are wider here. They have additional benefits, too. So, let’s look at each policy one by one and at their coverage options.

Westpac Full Car Insurance:

Westpac full car insurance coverage offers you the maximum benefits and coverage. This plan covers everything like your car and spouse, legal costs, third-party covers, and medical and accident cover.

Here is Westpac’s full car insurance coverage:

• Agreed Value benefits mean you will have a sum insured amount of your car, which you will receive in case of a total loss of your vehicle.
• It covers liability up to $100,000 if you injure someone while driving and up to $20 million if you damage another person’s property.
• It covers your car if it is hit by an at-fault uninsured driver, which doesn’t have sufficient third-party liability coverage.
• This plan also protects your car profiler or the ft, which will help you repair or place it up to the sum insured.
• This insurance plan also covers your car’s windscreen, windows, and sunroof excess-free without affecting your no-claims bonus to repair or replace either.
• If you have this insurance plan and your car breaks, then Westpac will hire a courtesy car for you for up to 14 days if your vehicle is stolen or repaired after an accident (you need to contribute $25 a day).
• This insurance also offers optional Auto Assist.
• It provides travel and accommodation up to $500 if your vehicle gets damaged.
• It provides towing and transport coverage up to $500 for returning your vehicle home.
• In certain circumstances, replace your car with a new one if it’s less than 12 months old.
• It covers medical expenses up to $500.
• It covers keys and locks up to $1,000 if they’re stolen.
• It covers accident costs up to $500
• This plan also safeguards you in legal matters. It covers legal costs up to $1,000.
• It covers a Fatal injury payment of $5,000 each for you or your spouse.
• It also provides coverage up to $1,000 for your trailer for accidental loss or damage to a trailer you own or use.

Now, looking at the Westpac full car insurance coverage, you can understand that it is a one-stop solution for your car’s needs.

Westpac Third-party, Fire & theft insurance plan:

As its name suggests, you can understand that the Westpac third-party that the Westpacathird-party, Fi, re and theft insurance will cover if you damage anyone’s car or property and if the Firethe damages your vehicle or gets stolen.

Here is Westpac’s third-party fire and theft insurance coverage:

• Agreed Value benefits
• Liability up to $100,000 if you injure someone while driving and up to $20 million if you damage another person’s property.
• It covers your car up to $3,000 if an at-fault uninsured driver hits it.
• This plan also protects your vehicle from Fire or theft, which will help you repair or replace it up to the sum insured.

Westpac Third-party only insurance plan:

Westpac’s third-party-only insurance plan provides coverage for liability up to $100,000 if you injure someone while driving and up to $20 million if you damage another person’s property. It covers your car up to $3,000 if an at-fault uninsured driver hits it.

How to Get a Westpac Car Insurance Quote in New Zealand

Westpac car insurance quote process is straightforward. To get a Westpac car insurance quote, you need to visit the Westpac website. Then, under the product & services menu, you need to click on the insurance option.

Then you need to choose car and vehicle option and click on get a quote & buy online. It will open in a new tab; here, click on let’s get started button.

You need to add your details like name, email, phone number & date of birth, address, car details and primary driver information. After providing all the information, click on the get a quote button, and you will come to know about your estimated price of monthly car insurance premiums.

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Westpac Car Insurance nz Costs in New Zealand

Westpac insurance cost depends on a number of factors, which mainly include which plan you choose. As we know, Westpac has three plans, and comparatively, full car insurance is more costly than third-party only.

Also, your optional coverage does affect your insurance price. Your car makes & model, driver’s age & history also create a variation in your monthly car insurance price. For example, if you are under 25, then your car insurance quote will be more expensive than anyone older than 25.

But as an approximate, if you are under 25, then your monthly car insurance price will be around $120 per month, and if you are older than 25, then your car insurance premium will be around $60-$70 per month for third-party insurance cover.

Saving on Your Cover: Tips for Affordable Westpac Car Insurance in NZ

It is not like car insurance premiums can’t be lowered; there are some ways where you can reduce your car insurance premium.

• You can save up to $100 a year if you choose the higher excess amount.
• As we have mentioned before, for under 25 years, insurance is higher, so avoid having such drivers under your policy.
• If you own a house, then you can get an extra discount on bundling up your home and car insurance with Westpac.
• If you didn’t file any claim in your insured period, then on its renewal, you can get up to a 64% no-claim bonus.

Pros & Cons of Westpac car insurance

Like every other financial instrument, insurance products have some pros and cons. Here, we are going to discuss Westpac car insurance’s pros and cons, which will help you make an informed decision about it.

Westpac car insurance Pros:

• Get 24/7 roadside help.
•  No claim discount
•  Bundling discount with home insurance
•  Westpac offers 30 30-day free look period, which means if you find that Westpac insurance isn’t for you, then you can inform them, and you will get a full refund (if you do so in the first 30 days of your policy).
•  Westpac available

Westpac car insurance cons:

• Higher excess for those under 25 years old and persons not holding a NZ driver’s license for the last 12 months
•  You have to pay $25 per day for your courtesy car.

Westpac car insurance review 

Westpac insurance has 4 star rating based on 23477 Westpac product reviews as rated by Mozo community.

But Trustpilot has 1.4 star rating with 179 westpac car insurance reviews.

Westpac vehicle insurance claim process in New Zealand 

If, unfortunately, something happens, then you need to file a claim; this is something for what we were paying the insurance premium, right? Yes, the Westpac car insurance claim process is straightforward and takes about 7-10 minutes.

If you have an accident or your vehicle is damaged, then first of all, you need to make sure that everyone is safe around you, and if you need roadside assistance, then you can call 0800309378. If someone gets injured, you need to report it to the police within 24 hours.

You also need to get some details for the other drivers and any witnesses, like their names, phone numbers, car registration numbers, and insurance details.

You also need to take photos of the accident and damage, including the surroundings and any other vehicles involved.

If you are in a situation where you need to file a claim with Westpac, then you can follow these steps:

• Go to the Westpac website.
• Then, under the products & services menu, click on insurance and choose car insurance.
• Then click on the make a claim option.
• Then click the Claim Online here button, and Westpac will redirect you to the insurer’s place to file your claim.
• Then, it would help if you told the incident time, details of your vehicle, and much more. Provide all the information, and you are dome.

Then, the insurer team will use the documentation you provided. If they find your claim legitimate, then they will either arrange repairs for your vehicle or pay your claim up to the amount insured in your policy.

Is Westpac Car Insurance the Most Competitive Option in New Zealand?

Westpac isn’t a direct insurer, but it offers its policy with IAG New Zealand Limited. Westpac also receives a commission from IAG New Zealand Limited to get a new customer for them.

But yes, there are many car insurance providers that you can consider as well. Here, in the table below, you can consider the following:

 Westpac Car Insurance vs NZ Competitors: What Makes Them Stand Out?

We have already learned everything about Westpac car insurance. In the table above, we have highlighted some of the critical benefits of Westpact car insurance competitors. Some of their competitors offer online courses, which can reduce the extra exceeds on your policy for under 25 drivers like AMI. Westpac doesn’t have any such course.

So, every company has its uniqueness, like Tower, which also covers electric cars.

Westpac car insurance contact number

If, in case of any emergency or support assistance, you need to contact Westpac, then you can call them at 0800 400 600. They are available on the phone on weekdays, 7 am to 8 pm & weekends, 8 am to 5 pm. We recommend you call them from your registered mobile number and keep your customer ID with you for better assistance.

You can also crawl the FAQ section, where Westpac has already given answers to many queries.

Conclusion: Is Westpac car insurance good?

Every insurance company in New Zealand covers a different segment with some bonus and discount options. Which insurance company is best for you totally depends on your age, driving experience, needs, car value, and required coverage.

Westpac is a good car insurance option. You can consider any one of their insurance plans. But if you want your insurance cover directly from the insurer company, then Westpac isn’t for you.

Then, you can consider other insurance providers.