Trade Me Car Insurance Review
We analyse Trade Me Car Insurance Review Insurance's car policies, outlining the cover, pros, cons, optional features and claim process
Updated 17 May 2021
Summary
Our review covers:
Summary
- Trade Me offers comprehensive, third party fire and theft and third party policies.
- Trade Me is one of many car insurers; what you pay for a policy will depend on many factors, including your driving profile and history. The type of car you insure will also affect individual quotes.
- We suggest visiting the Trade Me Insurance website for a quote, and comparing it to other providers, including your current insurer.
- We believe the average time to arrange 3-5 quotes is around ten minutes, and the differences in price (per our research) can be significant.
Our review covers:
Trade Me Car Insurance vs Alternatives - Our Research has You Covered:
- Trade Me is one of many car insurers; what you pay for a policy will depend on your driving profile and history. The type of car you insure will also affect individual quotes.
- We suggest visiting the Trade Me website for a quote, and comparing it to other providers, including your current insurer.
- We believe the average time to arrange 3-5 quotes is around ten minutes, and the differences in price (per our research) can be significant.
A standard Trade Car Insurance policy covers you for the following:
- Collision cover - Trade Me pays out for any accidental damage caused from an incident (comprehensive policies only).
- Full liability - you're covered for accidental damage to someone else’s car or property while driving your car (all policies).
- Damage by an uninsured vehicle - if your car is damaged by an uninsured vehicle, Trade Me's coverage will depend on your policy:
a. Trade Me will repair or replace your car (comprehensive cover only).
b. Trade Me will repair your car if you can identify the person at fault and the fault was at least 50% theirs (Third party fire and theft and third party policies) - Repair guarantee - Trade Me guarantees the repairs for life if you use one of their recommended repairers (not applicable to a third party policy).
- Transport costs - Trade Me pays out your travel and accommodation expenses to complete your journey or return home after an accident, or if your vehicle is stolen (not applicable to a third party policy).
Want to compare policies by benefits? Our AMI vs AA Insurance vs Cove vs State vs Tower vs Trade Me Insurance review has all the details
Trade Me Insurance offers the following cover options, for an additional premium:
For an additional monthly cost, Trade Me offers the following add-on benefits:
- Roadside assistance - Trade Me's 24/7 roadside assistance service covers the car, not the person (unlike AA Membership) and includes three free call-outs per year. Pricing is from $3/month.
- Windscreen excess buyout - If damage happens to your windscreen and/or window glass, this additional benefit replaces or repairs said glass, and claims are excess-free. Pricing is from $6/month.
- Rental car - If your car is stolen or undriveable after an accident, Trade Me covers the cost of hiring and insuring a similar car. The limit will depend on your policy: up to $1,000 (for comprehensive policies) $750 (for Third party, fire and theft). Pricing is from $5/month.
- Trailer Cover - If you are driving with a trailer and it is damaged, Trade Me will pay up to $3,000 for repairs or replacement of the trailer. Pricing is from $6/month.
Trade Me Car Insurance - What You Need to Know:
- Excess Range: $400, $500, $750 and $1,000
- Multi-Policy Discount: Up to 20%
- Loyalty Rewards: Not offered
- Claiming Process: Call 0800 950 145 (closed Sunday)
- Call Centre Location(s): Auckland and Rotorua
- Average Wait Time to Answer: 4 minutes
- No Claims Bonus: Offered - see our dedicated guide
- Additional (Optional) Benefits: Excess free windscreen and window claims (around $10/month), Rental vehicle (around $6/month) and Roadside assistance (around $4/month)
- Young Drivers: Permitted. Drivers under 21 must pay an additional excess of $750 in the event of a claim.
- Accessories or modifications cover: Offered (but exclusions apply, examples can be seen here in our uninsurable cars guide)
Our View: Trade Me offers a full-service policy, with the benefits of a multi-policy discount, local call centre, no claims bonuses and excess-free key loss. Young drivers are also taken care of, although a $750 excess applies on top of the standard excess for anyone under 21. The Airpoints tie-in isn't significant (we calculate this to be a 1% cashback equivalent), but it's an easier rewards benefit to understand compared to Flybuys (which is offered by State) LINK.
Frequently Asked Questions
Trade Me offers competitive pricing, but it may not be the cheapest quote for you. We answer common queries below.
Is Trade Me Car Insurance the cheapest option?
It depends on many factors, so there is no yes or no answer. Our How to Get Cheaper Car Insurance guide outlines ways to save, and our compare car insurance review offers sample quotes for different user types. We suggest always comparing a range of quotes before buying car insurance to give yourself the best chance of saving money.
Is a Trade Me policy cheaper if I pay one year in advance vs monthly?
Yes, like most policies, Trade Me allows customers to pay fortnightly, monthly or annually. Customers paying annually save around 10% per our research. Please note, add-on benefits the priced the same if paid fortnightly, monthly or annually so there's no discount for paying in advance.
What happens if I claim on my Trade Me policy?
When you contact Trade Me Insurance and claim, you will need to pay the excess stated in your policy (unless you're exempt under the policy). Tower Insurance provides the policy, so they will suggest an approved repairer (you can see the closest repairer near a given location using their tool), or the car will be assessed for write-off if the damage is significant.
Do I have to pay an excess for third-party damage if I didn't cause the accident?
Yes, unless you can prove exceptions. Our guide to car insurance excess explains your rights and responsibilities in detail.
Can I renew a Trade Me car insurance policy online?
No. Trade Me will send you a renewal notice one month before your car insurance expires. You will need to review the pricing and ask any questions - if you want to compare the pricing you're offered with the current quotes available, our car insurance guide would be a good starting point.
Can I claim windscreen damage with a Trade Me policy?
Yes - this is an additional benefit for any Comprehensive or Third party, fire and theft policy. You'll pay an extra amount (around $75 a year) for such cover, although the exact price will depend on your risk assessment.
​How do I cancel a Trade Me policy?
What does Trade Me's car insurance policy NOT cover?
As is the case with most car insurance policies, Trade Me excludes the following events:
- Mechanical failure - i.e. if your car breaks down and needs to be repaired. Unless you have breakdown assistance (an optional extra to any policy), Trade Me won't provide any roadside rescue.
- Breach of licence terms - i.e. if you drive without the correct licence and have an accident. Examples include learner or restricted licence holders driving in breach of their conditions, or driving while intoxicated.
- Using your vehicle for business purposes - ride sharing or courier work is a breach of Trade Me's standard policy and will void any claim. If you use your car for work (i.e. sales visits or trade services), check to see if you're covered - you may need commercial vehicle insurance.
- Modifications - Some performance features increase the risk of your car being stolen or damaged, which means Trade Me won't cover the car altogether. A sample list can be found here; any questions about modifications should be directed to Trade Me who can best advised if you'll be covered or not.
Trade Me Car Insurance vs Alternatives - Our Research has You Covered:
- Trade Me is one of many car insurers; what you pay for a policy will depend on your driving profile and history. The type of car you insure will also affect individual quotes.
- We suggest visiting the Trade Me website for a quote, and comparing it to other providers, including your current insurer.
- We believe the average time to arrange 3-5 quotes is around ten minutes, and the differences in price (per our research) can be significant.