New Zealand: New research shows Kiwis insure cars, boats and gadgets but not themselves
Source: Asia Insurance Review | Aug 2025
Latest research by The Financial Services Council (FSC) of New Zealand shows a surprising trend that while New Zealanders are quick to insure their cars, homes, and gadgets, they’re far less likely to protect their health, income and lives - the very things that matter most.
The new report Money & You: Valuing Belongings Over Ourselves, shows that New Zealanders are twice as likely to have car insurance than life or health insurance.
FSC CEO Kirk Hope said, “The research shows New Zealanders instinctively protect their homes, cars and possessions, but when it comes to insuring their most valuable asset, themselves, there’s a striking disconnect.”
“For those that do have life and health insurance, most Kiwis are paying for it out of their own pockets rather than receiving it through an employer remuneration package.”
Mr Hope said, “With cost being a barrier, expanding access to insurance through workplace schemes would boost uptake and improve coverage across the population.”
The rising cost of living is the leading reason for cancelling or avoiding insurance, though life and health policies are less likely to be dropped for this reason compared to others. When seeking financial advice, more people engage with advisers for mortgages and KiwiSaver than for insurance decisions.