Latest news with #VanessaPratley
Scoop
14-05-2025
- Automotive
- Scoop
Consumer NZ Finds Some Car Insurance Premiums Have Almost Doubled Since 2023
Press Release – Consumer NZ Car insurance premiums have surged in the past 2 years but switching providers could save you hundreds of dollars, says Consumer NZ. Vanessa Pratley, investigative writer at Consumer NZ, says its annual car insurance survey found premiums have increased by as much as 46% since 2023. Pratley points to inflation and extreme weather events as factors driving up the cost of insurance across the board, but another contributing factor is your age and life stage. 'Every insurer will base its premiums on risk. How much you pay will depend on things like whether you live in a flood-prone area, the car you drive, and even your age and gender. 'And because not all insurers are equal – which is to say they use their own risk assessments – you might be more or less of a risk to one provider or another. 'You can switch insurance providers any time (though there might be cancellation fees), and that could potentially reward you with hundreds of dollars in annual savings.' Toot if your premium's up! Consumer's survey found young males will pay more in car insurance premiums than older people or young females. And older females could pay more than older males – depending on the insurer. 'When we compared the costs for four different age brackets across nine insurance providers, we found annual savings ranged quite significantly – between $481 and $1,296. 'Since 2023, the lowest median increase was just 0.6% for a family of four living in Auckland, and the highest median increase was 46% for young males living in Christchurch. 'If the cost to insure your car is stressing you out right now, don't cancel your cover or drop down to third-party – shop around and see what savings you could make first.' Switch to a lane you can afford Other than switching providers, Pratley explains some policies may look similar but cover very different things. ''Standard' cover with one insurer will be an optional extra with another insurer. 'You might find your insurance policy includes towing expenses or key replacements as part of its standard offering. But if you very rarely park in the city and never lose your keys, you might be paying more than you need. 'Take the time to compare what's on offer and consider whether switching plans or providers would get you back to a policy you can afford.' Get a steer on satisfaction As well as crunching the numbers on the cost of car insurance premiums, Consumer surveys car insurance customers about how satisfied they are with their current provider. 'No one takes out insurance cover for fun. It's an important financial safety net, for example, if you accidentally swing your car into a parked Tesla. If the right protection isn't in place for you, you could find yourself in a real pickle. 'The experience you get from your insurance provider, especially how they treat you, should be an important consideration, too. We're pleased to announce that FMG and MAS received Consumer's People's Choice award for car insurance this year.' To help New Zealanders independently compare insurance providers' cover, our team has crunched the details on comprehensive car insurance policies.
Scoop
14-05-2025
- Automotive
- Scoop
Consumer NZ Finds Some Car Insurance Premiums Have Almost Doubled Since 2023
Press Release – Consumer NZ Consumer's survey found young males will pay more in car insurance premiums than older people or young females. And older females could pay more than older males depending on the insurer. Car insurance premiums have surged in the past 2 years but switching providers could save you hundreds of dollars, says Consumer NZ. Vanessa Pratley, investigative writer at Consumer NZ, says its annual car insurance survey found premiums have increased by as much as 46% since 2023. Pratley points to inflation and extreme weather events as factors driving up the cost of insurance across the board, but another contributing factor is your age and life stage. 'Every insurer will base its premiums on risk. How much you pay will depend on things like whether you live in a flood-prone area, the car you drive, and even your age and gender. 'And because not all insurers are equal – which is to say they use their own risk assessments – you might be more or less of a risk to one provider or another. 'You can switch insurance providers any time (though there might be cancellation fees), and that could potentially reward you with hundreds of dollars in annual savings.' Toot if your premium's up! Consumer's survey found young males will pay more in car insurance premiums than older people or young females. And older females could pay more than older males – depending on the insurer. 'When we compared the costs for four different age brackets across nine insurance providers, we found annual savings ranged quite significantly – between $481 and $1,296. 'Since 2023, the lowest median increase was just 0.6% for a family of four living in Auckland, and the highest median increase was 46% for young males living in Christchurch. 'If the cost to insure your car is stressing you out right now, don't cancel your cover or drop down to third-party – shop around and see what savings you could make first.' Switch to a lane you can afford Other than switching providers, Pratley explains some policies may look similar but cover very different things. ''Standard' cover with one insurer will be an optional extra with another insurer. 'You might find your insurance policy includes towing expenses or key replacements as part of its standard offering. But if you very rarely park in the city and never lose your keys, you might be paying more than you need. 'Take the time to compare what's on offer and consider whether switching plans or providers would get you back to a policy you can afford.' Get a steer on satisfaction As well as crunching the numbers on the cost of car insurance premiums, Consumer surveys car insurance customers about how satisfied they are with their current provider. 'No one takes out insurance cover for fun. It's an important financial safety net, for example, if you accidentally swing your car into a parked Tesla. If the right protection isn't in place for you, you could find yourself in a real pickle. 'The experience you get from your insurance provider, especially how they treat you, should be an important consideration, too. We're pleased to announce that FMG and MAS received Consumer's People's Choice award for car insurance this year.' To help New Zealanders independently compare insurance providers' cover, our team has crunched the details on comprehensive car insurance policies.
Scoop
14-05-2025
- Automotive
- Scoop
Consumer NZ Finds Some Car Insurance Premiums Have Almost Doubled Since 2023
Car insurance premiums have surged in the past 2 years but switching providers could save you hundreds of dollars, says Consumer NZ. Vanessa Pratley, investigative writer at Consumer NZ, says its annual car insurance survey found premiums have increased by as much as 46% since 2023. Pratley points to inflation and extreme weather events as factors driving up the cost of insurance across the board, but another contributing factor is your age and life stage. "Every insurer will base its premiums on risk. How much you pay will depend on things like whether you live in a flood-prone area, the car you drive, and even your age and gender. 'And because not all insurers are equal – which is to say they use their own risk assessments – you might be more or less of a risk to one provider or another. "You can switch insurance providers any time (though there might be cancellation fees), and that could potentially reward you with hundreds of dollars in annual savings.' Toot if your premium's up! Consumer's survey found young males will pay more in car insurance premiums than older people or young females. And older females could pay more than older males – depending on the insurer. 'When we compared the costs for four different age brackets across nine insurance providers, we found annual savings ranged quite significantly - between $481 and $1,296. "Since 2023, the lowest median increase was just 0.6% for a family of four living in Auckland, and the highest median increase was 46% for young males living in Christchurch. 'If the cost to insure your car is stressing you out right now, don't cancel your cover or drop down to third-party – shop around and see what savings you could make first.' Switch to a lane you can afford Other than switching providers, Pratley explains some policies may look similar but cover very different things. ''Standard' cover with one insurer will be an optional extra with another insurer. 'You might find your insurance policy includes towing expenses or key replacements as part of its standard offering. But if you very rarely park in the city and never lose your keys, you might be paying more than you need. 'Take the time to compare what's on offer and consider whether switching plans or providers would get you back to a policy you can afford." Get a steer on satisfaction As well as crunching the numbers on the cost of car insurance premiums, Consumer surveys car insurance customers about how satisfied they are with their current provider. 'No one takes out insurance cover for fun. It's an important financial safety net, for example, if you accidentally swing your car into a parked Tesla. If the right protection isn't in place for you, you could find yourself in a real pickle. 'The experience you get from your insurance provider, especially how they treat you, should be an important consideration, too. We're pleased to announce that FMG and MAS received Consumer's People's Choice award for car insurance this year." To help New Zealanders independently compare insurance providers' cover, our team has crunched the details on comprehensive car insurance policies.
NZ Herald
21-04-2025
- Business
- NZ Herald
Tauranga man's frustration as Air NZ fares soar
He said it seemed insensitive for the airline to be talking about its new uniforms at a time when the cost of living was a major concern for many New Zealanders. The airline recently unveiled its new uniforms, designed by Emilia Wickstead. 'They've been doing it for a while - I just get kind of disgusted with it … I understand dynamic pricing and the free market but just because the company can doesn't mean it should.' He said he had filed a complaint with the Commerce Commission. Frequent complaints at holiday time Consumer NZ investigative writer Vanessa Pratley said her organisation frequently received complaints about the cost of flying domestically, especially around holidays. 'High prices to fly over Easter are reflective of the levels of demand on airlines, and showcase the impact of dynamic pricing algorithms. It's difficult for consumers to know what they're paying for, and whether that price is fair. 'In our domestic market, one carrier, Air New Zealand, has a monopoly on several routes, giving consumers little choice but to cough up and pay. This is the case for the Wellington to Tauranga route, where Air New Zealand is the only option. 'We think a market study examining all the factors that impact competition, especially on regional routes, is needed to get to the bottom of why consumers are paying so much.' Seats in demand Air New Zealand said the date that Koster wanted to book travel for was the end of a very busy school holiday, Easter weekend, and Anzac day period. 'Flights are very full next weekend and we already have a sold-out flight between Tauranga and Wellington next Sunday.' A spokesperson confirmed the airline used a supply and demand pricing system. 'At peak travel times - like school holidays, or before an event - demand is high. If fares were fixed at the average price, seats would sell out fast, leaving none for those who have to travel at short notice. 'While we do our best to schedule additional flights, there is a limit to how much we can add, so pricing helps manage demand and encourage people to choose an alternative flight for which there is lower demand, at a lower price. 'Conversely, we also have off-peak periods - like midweek afternoons - where there's not as much demand, and we adjust prices to encourage bookings on those.' Air New Zealand's advice for people who wanted to find cheaper fares was to book early and be flexible.
