Car insurance in New Zealand is not yet a legal requirement. If you own a car it is in your best interest to have some type of auto insurance coverage. New Zealand car insurance or auto insurance protects you against financial loss in the event of an accident. Like all insurance policies, car insurance is a contract between the insurer (the car insurance company) and the insured (policy holder). You, the policy-holder, pay a premium and the insurance company agrees to pay your losses as defined in your policy.
Car insurance policies provide liability, property and medical coverage:
Property coverage
Pays for damage to or theft of your car.
Liability coverage
Pays for your legal responsibility to others involved in the incident. This covers you for bodily injury or property damage you have caused to another party.
Medical coverage
Generally pays for the cost of treating injuries, rehabilitation, lost wages and funeral expenses. This will depend on what is specified in your car insurance policy.
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New Zealand car insurance or auto insurance protects you against financial loss in the event of an accident. Like all insurance policies, car insurance is a contract between the insurer (the car insurance company) and the insured (policy holder). You, the policy-holder, pay a premium and the