Protecta insurance NZ: now Assurant, and what it actually sells

Is Protecta the same company as Assurant?

Yes. Assurant announced the purchase of Protecta in late 2022 and had finished rebranding it by January 2025. The Protecta name has gone from the customer site; protecta.co.nz is now Assurant's motor agent portal for dealers.

Assurant's own wording, on every product page of assurant.nz: "This insurance is issued by Protecta Insurance New Zealand Limited (NZ Company No 312700) (Protecta) as agent for Virginia Surety Company Inc, New Zealand branch (a US incorporated company with NZ Company No 920655) (VSC). The insurance is underwritten by VSC. Protecta and VSC are part of the Assurant, Inc. group."

So three names can appear on one policy: Assurant on the branding, Protecta as the issuing agent, and Virginia Surety as the licensed insurer that carries the risk and pays the claim. That is the same pattern as bank car insurance, where the name you buy through is not the company that underwrites it.

What does Protecta (Assurant) sell?

Two quite different kinds of cover, sold two different ways.

Only the first three are car insurance in the sense this site uses: cover for crash damage, theft and the damage you do to other people. MBI, GAP and payment protection do not pay for any of that. A car can carry a Protecta MBI policy from the dealer and still have no insurance against a crash.

Is MBI from a car dealer worth it?

Consumer NZ's view, published in October 2022, was no. It reported about $442 million in retail premiums for add-on insurance between 2018 and 2020, against $128 million paid out in claims.

• MBI in 2020: premiums of nearly $110 million, claims paid $40 million (Consumer NZ).
• GAP in 2020: premiums of nearly $14 million, claims paid $2 million (Consumer NZ).
• Dealer commission: Consumer NZ reported dealers earned on average between $304 and $636 in commission per add-on sale in 2020.
• Exclusions: Consumer NZ named Protecta's Pinnacle MBI policy as excluding brake pads and shoes among other parts, and noted servicing conditions. Those were the 2022 wordings; read the wording you were given, because that is the contract.

None of this makes an individual policy a bad buy, and a car bought from a dealer is already covered by the Consumer Guarantees Act for faults that make it not of acceptable quality. The practical point is the order of things: get proper car insurance first, then decide whether a breakdown policy adds anything on top.

How do you make a Protecta claim now?

Through Assurant. Its vehicle claims page has separate claim forms for car, motorcycle, classic vehicle and roadside assistance claims, and a phone line and email for help. Assurant says its average claim processing time is 5 to 7 weeks, and that waiting on an assessor's report, a Police crash report or replacement parts can stretch that. Our at-fault crash and not-at-fault crash guides cover the general steps; Assurant's wording governs yours.

For an MBI or GAP policy bought at a dealer, start with the policy schedule the dealer gave you: it names the product and the claim process. Many MBI policies want the repairer to get approval before work starts, so call before the car goes on the hoist, not after.

How do complaints work?

1. Raise it with Assurant's staff first.
2. If it isn't resolved, Assurant's Fair Conduct Programme says you can refer it to its Internal Dispute Resolution Panel, which replies in writing.
3. If you are still unhappy, you can take it to the Insurance and Financial Services Ombudsman (IFSO) within 2 months of the panel's decision. IFSO is free to use.

How financially strong is it?

Assurant publishes Virginia Surety's rating: A+ (Superior) from AM Best, as at 23 September 2026, and a solvency ratio of 507% for the year to 31 December 2025, calculated under the Reserve Bank's Interim Solvency Standard 2023. The other insurers' ratings are on their own sites; ours are listed from the insurers page.

Should you get a car insurance quote from Assurant?

It is one of the smaller direct insurers, and a specialist for bikes and classics, so it is worth a quote alongside the big brands, especially for a classic car or a motorbike. As with any quote, compare the excess, agreed or market value and named drivers, not the logo. Take our checklist to it, and use the comparison for the insurers we hold full policy data on.