I’m sure you’ve heard this type of headline before…

“The Average Kiwi is underinsured to the tune of blah blah blah”..

Trust us when we say this – plenty of good people in New Zealand, could do with more tailored insurance solutions.

We’ve all heard the nightmare stories of homes lost, health situations, cars not covered, no income coverage while ill etc.

But – how about this for a suggestion…. there are possibly loads of people out there, who are OVER insured too!

Just recently, while having a vibrant discussion with a friend… this suggestion was put to me:

“People MUST be overpaying for insurance, otherwise, how do you explain the massive profits that insurance companies seem to be making?”

Now I’m not sure if this friend had many facts around this suggestion, but I understand the idea.

There is a lot more to the story than simply looking at profits of companies, however the notion that some people pay too much is worth exploring a bit.

Take Car Insurance for example…

You can certainly be insuring your car for more money than it’s really worth.

Do you need to dig a bit deeper and find out what you are really getting for your money? Possibly, I don’t know what you drive, but with car insurance, there are quite a few online calculators that can help.

OR – just get on the phone to your insurer and have a chat. Discussion is generally good.

Once we move on from reasonably simple ones like cars, things get a lot harder.

Remember – every single person and situation is different, and your own situation will change from year to year.

In that regard – and yes we are biased because we ARE insurance brokers – we strongly suggest you establish a good working relationship with a broker, who has been in the game for many years.

Home and contents insurance? Health Insurance? Income protection insurance? Trauma? Life Insurance?

We would suggest that there ARE people out there OVER paying, because they set up their coverages, and simply don’t revisit their situation.

They may have set up coverages via their bank, or other financial institution, and not come back to review regularly, or even EVER!

The thing to do is have a chat to an experienced Insurance Broker. Contact Jan Viljoen and the team HERE

Another article that might interest you: DO I need Life Insurance in New Zealand?


By Jan Viljoen | Insurance Broker Tauranga


Some of our links you should visit:

1️⃣ Contact us: https://jvfs.co.nz/contact-us/

2️⃣ Are you over-insured? https://jvfs.co.nz/2021/07/01/are-you-over-insured/

3️⃣ Do you need Life Insurance? https://jvfs.co.nz/2021/05/27/do-i-need-life-insurance-in-new-zealand/

4️⃣ Small Business money savers: https://jvfs.co.nz/2021/08/09/small-business-owners-here-are-6-ways-to-save-money-that-you-might-have-missed/

{Insurance Broker Tauranga | Jan Viljoen}