What each insurer’s policy actually says

Agreed value, set when the policy begins and reviewed at each renewal

“The agreed value is the amount determined when your policy begins and at each renewal. The agreed value is reviewed at each renewal and may be adjusted as the value of your vehicle depreciates” — AA Insurance, Comprehensive Car Insurance Policy, read 2026-09-16

Either — the policy schedule states which one applies

“Your policy schedule shows whether you have an agreed value or market value policy.” — AMI, Car Insurance Policy Wording (PDF), read 2026-09-16

Agreed value. The default sum insured is set from a third-party vehicle valuation service

“The Cove car insurance policy is an agreed value policy. This means that in the event of a total loss claim we'll pay you the sum insured you've selected and is recorded on your policy … When calculating your quote we set a default sum insured value using information provided by a third party vehicle valuation service.” — Cove Insurance, Car Insurance, read 2026-09-16

Agreed value, based on your sum insured

“Agreed Value for your vehicle sum insured where a valuation is less than 24 months old.” — NZI, Vehicle Insurance, read 2026-09-16

Either — the policy schedule states which; agreed value is available on comprehensive

“And with Comprehensive car insurance, choose an agreed value policy to get paid out what you insured your car for if it's written off or stolen.” — State, Car Insurance, read 2026-09-16

Either. An agreed value is locked in for a year and reset at renewal

“Agreed value is an amount you and your insurer agree to cover your car for. This amount is locked in for a year when your policy renews.” — Tower, Car Insurance, read 2026-09-16

Agreed value on comprehensive; market value on third party fire and theft

“Agreed value … Market value” — Trade Me Insurance, Car Insurance, read 2026-09-16

Either. An agreed value is reviewed at renewal using market data and usually falls as the car depreciates

“When we renew your policy, we may use market data to review and set your new agreed value. As a result, the agreed value will usually decrease as your vehicle depreciates with age and use.” — Vero, MotorPlan Policy (PDF), read 2026-09-16

No standard figure is published — your excesses are set out on your policy schedule

“Your policy schedule contains important information related to this policy document, including who's insured, your cover type, your agreed value and excesses.” — AA Insurance, Comprehensive Car Insurance Policy, read 2026-09-16

Not checked yet — not published by this insurer

You choose the standard excess and it is shown on your schedule; no default figure is published

“Your excess will be the total of: the standard excess shown on your schedule” — Cove Insurance, Car Insurance Policy Wording (PDF), read 2026-09-16

Not checked yet — not published by this insurer

$300 standard excess, including for drivers under 25, on new policies quoted on or after 17 May 2026

“Standard car excess refers to a publicly available default vehicle excess that direct insurers use to provide an initial quote… The lowered excesses apply to new State car policies quoted on or after 17 May 2026.” — State, Car Insurance, read 2026-09-16

No standard figure is published — your excess and any additional excesses are on your certificate of insurance

“Your excess and any additional excesses that apply are detailed on your certificate of insurance.” — Tower, Car insurance — Comprehensive cover (PDF), read 2026-09-16

Not checked yet — not published by this insurer

No standard figure is published. The wording names six kinds of additional excess that can sit on top of it

“Types of additional excesses that could apply … Imposed excess … International excess … Unnamed driver excess … New driver excess … Underage excess … Special excess” — Vero, MotorPlan Policy (PDF), read 2026-09-16

Not checked yet — not published by this insurer

No figure is published. The wording confirms that driver restrictions, including excluding drivers under 25, can be recorded on the schedule

“If your policy schedule shows that you only have cover for drivers who are specifically named or that drivers under 25 years of age are excluded, these driver restrictions do not apply in certain circumstances” — AMI, Car Insurance Policy Wording (PDF), read 2026-09-16

$500 if the driver is aged 21 to 24, or $1,000 if the driver does not hold a full current New Zealand licence — on top of the standard excess

“the inexperienced driver excess being the higher of: $500 if at the time of the loss or accident the insured person is aged between 21 and 24 (inclusive), or $1,000 if at the time of the loss or accident the insured person does not hold a full current New Zealand driver licence.” — Cove Insurance, Car Insurance Policy Wording (PDF), read 2026-09-16

Not checked yet — not published by this insurer

The same $300 standard excess applies to drivers under 25

“With State, drivers under 25 get the same great cover and the same low $300 excess on car policies.” — State, Car Insurance, read 2026-09-16

An additional excess applies when an inexperienced driver is driving, but no figure is published. Excluding drivers under 25 altogether is a separate option

“Additional excesses apply when the car is being driven or in the control of: 1. an inexperienced driver” — Tower, Car insurance — Comprehensive cover (PDF), read 2026-09-16

An additional excess can apply depending on the driver's age and experience, but no figure is published

“There may be additional excesses depending on the age and experience of the driver” — Trade Me Insurance, Car Insurance, read 2026-09-16

An underage excess applies to any driver aged under 25 at the time of the accident, but no figure is published. A separate new driver excess applies to a driver over 25 who has held a New Zealand licence for under 12 months

“Underage excess – an additional excess that applies to any driver aged under 25 at the time of the accident.” — Vero, MotorPlan Policy (PDF), read 2026-09-16

Excess-free glass cover is an optional extra

“Optional extra: Excess-free glass cover” — AA Insurance, Car Insurance, read 2026-09-16

Excess-free glass is an optional benefit

“Excess-free glass … If your claim is only for sudden and accidental loss to the windscreen or window glass of your vehicle, you do not pay an excess.” — AMI, Car Insurance Policy Wording (PDF), read 2026-09-16

Glass is covered with an excess as standard; excess-free glass is available as an option

“Damage to your car's windscreen and windows is covered under our standard policy and an excess will apply, however we also provide the option to make claims for these items without an excess.” — Cove Insurance, Car Insurance, read 2026-09-16

No excess on windscreen claims on the Echelon tier

“No excess on windscreen claims.” — NZI, Vehicle Insurance, read 2026-09-16

Excess-free glass cover is an optional benefit on all three levels

“Excess-free glass cover for windscreens and windows” — State, Car Insurance, read 2026-09-16

Glass is covered automatically with an excess; paying that excess away is an optional benefit, and it does not cover sunroofs, mirrors or lights

“Windscreen and window glass are automatically covered, but if you choose this benefit, you won't have to pay any excess for any windscreen claims.” — Tower, Car Insurance, read 2026-09-16

Glass is covered automatically with an excess; paying that excess away is an optional benefit

“Windscreen and window glass are automatically covered, but if you choose this benefit, you won't have to pay any excess for any windscreen claims.” — Trade Me Insurance, Car Insurance, read 2026-09-16

A repair costs no excess; a replacement costs a $500 excess as standard, and paying that away is an option

“If your windscreen or window glass is repairable, you won't have to pay an excess. • If your windscreen or window glass needs replacing, you'll need to pay a $500 excess.” — Vero, MotorPlan Policy (PDF), read 2026-09-16

Anyone listed under “insured drivers” on the policy schedule

“Anyone who is listed under the 'insured drivers' section of your policy schedule is covered to drive your vehicle” — AA Insurance, Car Insurance, read 2026-09-16

Named-driver and under-25 restrictions are optional and shown on the schedule

“If your policy schedule shows that you only have cover for drivers who are specifically named or that drivers under 25 years of age are excluded, these driver restrictions do not apply in certain circumstances” — AMI, Car Insurance Policy Wording (PDF), read 2026-09-16

Anyone who drives the car more than about once a month must be named, and there is no cover at all for a driver under 21

“At this stage there is absolutely no policy cover for anyone under the age of 21 – this includes non regular drivers of your vehicle that are not named on your policy.” — Cove Insurance, Car Insurance, read 2026-09-16

Not checked yet — not published by this insurer

Not checked yet — not published by this insurer

Anyone driving with your permission, unless you have chosen the option that excludes drivers under 25

“We provide cover for anyone driving your car with your permission, unless you've chosen the optional benefit No cover for drivers under 25 years old” — Tower, Car insurance — Comprehensive cover (PDF), read 2026-09-16

Not checked yet — not published by this insurer

Any licensed driver by default. Naming drivers is a voluntary option, and an unnamed driver excess then applies to anyone not on the schedule

“Voluntary named drivers — When this option is noted on the schedule for your vehicle, anyone with a valid driver's licence is covered while driving your vehicle… If your vehicle is driven by anyone not listed on the schedule at the time of a claim, the unnamed driver excess on your schedule will apply” — Vero, MotorPlan Policy (PDF), read 2026-09-16

Optional rental cover, running until the vehicle is repaired or the claim is settled rather than for a fixed number of days

“If we have accepted your claim and you are without a vehicle, we will provide you with a subcompact rental vehicle. You are covered under this benefit until your vehicle is repaired or we determine your claim is settled.” — AA Insurance, Comprehensive Car Insurance Policy, read 2026-09-16

Up to 21 days, or up to $40 a day for 21 days if you arrange it yourself

“a hire car for a single hire period of up to 21 days for an event … of up to $40 per day for up to 21 days for an event” — AMI, Car Insurance Policy Wording (PDF), read 2026-09-16

Up to 30 days, for a car up to 2000cc that is the closest available equivalent to yours

“Your Cove car insurance policy covers the costs to hire a car for up to 30 days, so you have a car if yours is being repaired or has been stolen” — Cove Insurance, Car Insurance, read 2026-09-16

On the Distinction tier, up to $10,000 towards alternative transport rather than a fixed number of days

“Up to $10,000 toward alternative transport costs if your vehicle can't be driven due to a covered event.” — NZI, Vehicle Insurance, read 2026-09-16

Up to 21 days of a hire car or alternative transport while yours is being fixed

“Hire car or alternative transport, like taxis, while yours is being fixed (up to 21 days)” — State, Car Insurance, read 2026-09-16

Optional; up to $1,000 on comprehensive and $750 on third party fire and theft, ending seven days after the claim is paid

“We'll pay reasonable costs up to $1,000 for either: 1. the costs to rent and insure a similar car” — Tower, Car insurance — Comprehensive cover (PDF), read 2026-09-16

Optional; up to $1,000 on comprehensive and $750 on third party fire and theft

“Rental vehicle hire for loss of use $1,000 $750” — Trade Me Insurance, Comprehensive car insurance policy wording (PDF), read 2026-09-16

Not checked yet — not published by this insurer

Not checked yet — not published by this insurer

Optional, and priced: free with comprehensive cover and for newly licensed drivers, otherwise $49 or $79 a year

“Free with Comprehensive Car insurance and for newly licensed drivers. $49 a year for all other AMI customers or $79 a year for everyone else. Unlimited call outs, available 24/7, nationwide.” — AMI, Car Insurance, read 2026-09-16

Optional, delivered by a third party

“Through our partner, New Zealand Roadside Assistance, Cove provides the following roadside assistance service” — Cove Insurance, Car Insurance Policy Wording (PDF), read 2026-09-16

Included on Distinction, optional on Select and Echelon

“Included with NZI Distinction, and an optional extra for NZI Select and Echelon policies.” — NZI, Vehicle Insurance, read 2026-09-16

Optional, $39 a year for five callouts a year for anyone driving your car

“Add State Roadside Rescue for just $39 a year. Get five callouts a year for anyone driving your car.” — State, Car Insurance, read 2026-09-16

Optional. It covers the car rather than the person, with three free callouts a year

“Our 24/7 roadside assistance service covers the car, not the person, so anyone driving the car can use it across NZ. It includes three free call-outs per year.” — Tower, Car Insurance, read 2026-09-16

Optional. It covers the car rather than the person, with three free callouts a year

“covers the car, not the person, so anyone driving the car can use it across NZ. It includes three free call-outs per year.” — Trade Me Insurance, Car Insurance, read 2026-09-16

Optional, and governed by a separate agreement rather than by the policy

“If you choose this optional benefit we will we'll provide you details in a separate agreement.” — Vero, Car Insurance, read 2026-09-16

An internal Customer Resolution Service; no external scheme is named in the material we read

“We can explain our complaints procedure to you, and we have a Customer Resolution Service to help you if needed.” — AA Insurance, Comprehensive Car Insurance Policy, read 2026-09-16

Not checked yet — not published by this insurer

The Insurance & Financial Services Ombudsman (IFSO), after two months or once the internal process has finished

“If after two months, you are still unsatisfied, or we have confirmed to you that we have reached the end of the complaints process via a letter, you may refer your complaint to the Insurance & Financial Services Ombudsman (IFSO)” — Cove Insurance, Car Insurance Policy Wording (PDF), read 2026-09-16

Not checked yet — not published by this insurer

Not checked yet — not published by this insurer

An external dispute resolution provider exists but is not named in the wording

“we'll let you know how you can access our external disputes resolution provider.” — Tower, Car insurance — Comprehensive cover (PDF), read 2026-09-16

An external dispute resolution provider exists but is not named in the wording

“we'll let you know how you can access our external disputes resolution provider.” — Trade Me Insurance, Comprehensive car insurance policy wording (PDF), read 2026-09-16

Not checked yet — not published by this insurer

Not checked yet — not published by this insurer

IAG New Zealand Limited

“'We', 'us' and 'our' mean IAG New Zealand Limited.” — AMI, Car Insurance Policy Wording (PDF), read 2026-09-16

Aioi Nissay Dowa Insurance Company Limited; the policy is issued by Cove Limited under its authorisation

“This insurance is issued by Cove Limited in accordance with the authorisation granted to it by the underwriter, Aioi Nissay Dowa Insurance Company Limited.” — Cove Insurance, Car Insurance, read 2026-09-16

Not checked yet — not published by this insurer

IAG New Zealand Limited

“'We', 'us' and 'our' mean IAG New Zealand Limited.” — State, Car Insurance Policy Wording (PDF), read 2026-09-16

Not checked yet — not published by this insurer

Tower Limited

“This is your Comprehensive policy wording, underwritten by Tower Limited.” — Trade Me Insurance, Comprehensive car insurance policy wording (PDF), read 2026-09-16

Not checked yet — not published by this insurer