The results of Consumer NZ's annual insurance satisfaction survey found MAS and FMG were rated highly by customers, with both earning Consumer's People's Choice award.
“This is the eighth consecutive year FMG has received the accolade, and customers have voted MAS for People’s Choice for nine consecutive years,” said Consumer NZ chief executive Jon Duffy.
The best
MAS and FMG were the top-rated insurers for house, car and contents insurance. Customers praised their value for money, easy-to-understand policy documents and products tailored to customers’ needs.
MAS had the highest overall satisfaction rating for house insurance at 76%, while FMG ranked highest for contents insurance at 78%. For car insurance, MAS and FMG also took out the top spots, with 81% and 79% respectively.
Consumer NZ’s Insurance Satisfaction Survey found that while most banks scored below average for house and contents insurance, they generally performed better in travel insurance.
“Some banks scored higher for travel insurance, likely due to it being offered free through some credit cards,” Mr Duffy said.
“In today’s economy, value for money is a key factor in customer satisfaction.”
The worst
State and AMI (both owned by IAG New Zealand) scored below average for house and contents insurance, with significantly lower-than-average ratings for value for money, communication, customer support and tailored advice.
Banks also underperformed when it came to car insurance.
“Four banks – ANZ, BNZ, Westpac and ASB – received below average ratings, with ASB at the very bottom of the pile,” said Mr Duffy.