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Car Insurance Calculator

Calculate your car insurance costs in a few clicks, find out the value of your car and know the risk factors to help lower your car insurance costs

Updated 13 November 2023
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Summary
  • If your car insurance is coming up for renewal, the quote you've received for the next 12 months may seem expensive. Cheaper car insurance is more than likely if you're prepared to get a few online quotes.
  • And to make sure you don't over-insure (and overpay) for car insurance, it's essential to know the value of your car.
  • Our car insurance calculator is a proven (and easy) three-step process to get the best deal.

Step 1 - Know how car insurance is calculated

Car insurance costs depend on your unique circumstances. The final price you see is influenced by many factors, including your driving history, car, where you live, your age and your gender. Insurers use this information and all of their data to predict the risk of you making a claim. The bigger the risk, the higher the cost of car insurance (and vice versa). 

Significant risk factors include:
  1. Young drivers (who don't have much driving history and, for many reasons, are statistically more likely to make a car insurance claim than older drivers)
  2. Modified or unusual vehicles (as high-performance usually means a higher chance of accidents and/or expensive parts for repairs)
  3. Where the car is stored - a locked garage is the safest, whereas on-the-road in an area with a high crime is the riskiest for an insurer. Car insurance usually costs more when the car's location is less secure.

Step 2 - Know the value of your car

To make sure you're covered correctly, knowing the value of your car is essential. There's no sense in buying too much insurance – it's a waste of money. But if you don't buy enough insurance, you could be on the hook for the difference between what your insurance pays and the cost of damages, which could be financially destructive.

Getting a reliable car valuation can be problematic. Our research highlighted two tools that provide car valuations free of charge:
  • We suggest trying Trade Me's Value My Car tool first and then the BestCar tool. Both are free of charge. 
  • If you still need more data points, we suggest searching Trade Me's motoring section to see current prices from other sellers to get an indication of valuation. 
  • Disclaimer: We have no relationship with Trade Me, BestCar or any other car valuation service provider listed on this guide. We suggest getting several car valuations before determining a valuation. Estimates range and the first car valuation you're given may not be the highest or the lowest.

Step 3 - Compare car insurance

Once you know the value of your car and understand the risk factors, the best thing to do is compare car insurance quotes. Generally, most insurers offer the same level of cover (see our AMI vs AA Insurance vs Cove vs State vs Tower vs Trade Me Insurance comparison of policies). 

Our guide to car insurance outlines everything you need to know when getting quotes from major insurers (AMI, Tower, State, AA etc.). Our car insurance directory lists 38 car insurers in New Zealand, some of which provide online quotes.

Know this:
  1. Driving safely and not making claims makes you popular with car insurers. If you have claimed in the last 1-3 years, you will need to disclose this.
  2. Before buying any car insurance policy, make sure you know what it covers - price is important, but sufficient cover is essential. Our video below explains what a 'good' insurance policy should have and optional add-on features you may want to consider:

Comprehensive vs Third Party Cover

By comparing quotes, you can see what cover is right for you. For example, if your car is valued below $2,000 and you have sufficient savings and are looking to upgrade, a third party policy could be a cost-effective option. Our guide to third party car insurance helps compare options.

Where can I find a car insurance calculator?

All of the leading car insurance companies offer online quotes, which are calculations based on your profile. Our car insurance guide lets you calculate and compare car insurance quotes.
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