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Compare Toyota Aqua Insurance Costs

Compare Toyota Aqua insurance costs across Comprehensive, Third Party Theft & Fire and Third-Party policies from leading insurers such as AA Insurance, AMI, Cove, Tower and more, as well as tips to save and answers to FAQs.
Updated 8 April 2025
Summary
  • The Toyota Aqua ranks among New Zealand's top selling cars and is known for its reliability and widespread ownership. However, it remains expensive to insure relative to other cars per our research, a problem confirmed by reports in RNZ and Stuff as well as Reddit posts.
  • While the Aqua is a run-around favourite nationwide, insurance costs vary significantly depending on location and coverage type, making comparison essential for owners seeking value.
  • We have published this guide for new and existing Aqua owners looking to understand their insurance options, avoid overpaying, and make informed decisions based on real-world data. We examine premiums for a 2018 Toyota Aqua, valued at $10,000, with no alarm and parked off-street but not in a garage.
  • We have used a driver profile of a 35-year-old male, driving 6,000 km annually, holding a full licence for 10+ years, with no accident history.
  • Our research looks at Comprehensive, Third Party Fire & Theft and Third Party policies from AMI, AA Insurance, ​AMP, Cove, State Insurance, Trade Me Insurance and Tower Insurance.
  • We encourage you to compare for your needs - our quotes analysis across seven cities covers Auckland (Takapuna, Henderson, Mangere), Hamilton, Wellington, Christchurch and Dunedin. However, not every insurer offers online quotes for certain policies so that comparisons may have gaps.

Our comparison covers:
Important: Toyota Aqua Theft Risk
  • Per our Most Stolen Cars guide and January 2025 reporting from the NZ Herald, the Toyota Aqua consistently ranks as one of the most common theft targets nationwide. Given the sheer number of Aquas on New Zealand roads, it's no surprise they're a frequent theft target. Many models lack modern anti-theft features, and their parts are in constant demand, making them highly attractive to thieves. This makes owning one a risk, and a reason to consider comprehensive car insurance.
  • If you're considering a Third Party only policy, be aware that you are taking on 100% of the risk if your Aqua is stolen. The annual savings of a Third Party policy, around $600 to $1,200 over a Comprehensive policy, can be instantly erased by a single loss event.
  • Our view: At a minimum, Toyota Aqua owners, especially those parking on-street or in theft-prone areas, should consider Third Party Fire and Theft to protect against this real and growing risk. A $500–$900 policy is modest compared to a $10,000+ replacement cost in the event of a theft.

Our Quotes
  • The quotes published in this guide were sourced in January 2025 and are accurate for the policyholder profile and vehicle parameters we outlined. However, insurance premiums change all the time. You may find your quote differs even when using the same details.
  • As such, please treat our pricing data as directional - the cost comparisons are useful for identifying which insurers are cheaper on average, but to know what you'll actually pay, always generate your own quotes before deciding. For the most accurate premium, we recommend getting a fresh quote online from each insurer using your exact details.

MoneyHub Founder Christopher Walsh Shares His Views on Insuring Toyota Aquas:

"Aquas - reliable and cheap to run, but don't sign up for the first insurance quote you get because our research confirms insurance costs vary.

To save the most while ensuring you're fully covered, consider the following steps:
  • Cast a Wide Net: I don't stop at one insurer - you can get fast online quotes from AMI, AA Insurance, AMP, Cove, State, Trade Me, Tower. 20-30 minutes of clicking can save you hundreds of dollars.
  • Make a Decision: With quotes in hand, pick what fits your needs; you may want the full protection of comprehensive or, for older Aquas, save significantly with third party policies. What is right depends on your willingness to take the risk.
  • Check Yearly: Your Aqua value drops yearly, so if you buy comprehensive coverage, your policy should reflect the lower value.
  • Tweak Coverage: If you don't drive much, tell the insurer - this will help lower the price. Full protection will arguably be a wise investment if you are in a high theft-risk spot.
  • Weigh the Options: Comprehensive gives drivers peace of mind, but if your Aqua is worth $5,000, a third-party policy can save you $800+ every year, but you'll need to understand the risk you're taking.

Insuring your Aqua can be cost-effective because insurers see them (and their drivers) as low-risk. Extract online quotes widely, and then decide what works for you".
Christopher Walsh
MoneyHub Founder 
What Our 2025 Model Comparison Taught Us About Insurance Costs: Key Findings and What You Need to Know
The results of our research were clear:

1) Cove Insurance - a trusted quiet achiever, was repeatedly the cheapest across all seven models and the lowest average-priced insurer in 5 out of 7 cases, often by a margin of $150–$300+ compared to the second cheapest quote obtained.
  • For price-savvy drivers looking for full cover without cutting corners, Cove emerged as a reliable option.
  • Furthermore, Cove offers a free month of cover (worth up to $100), multi-policy discounts of up to 10% if you insure more than one car, and an annual discount of up to 10% if you pay for a year of cover in advance.

2) Trade Me, Tower, and AA: High Variability, Sometimes Pricier
  • Trade Me Insurance was competitive for the Corolla but significantly more expensive for the Aqua and Hilux.
  • Tower offered competitive premiums for the Legacy and Navara but was also among the top three most expensive for Aquas and Rangers.
  • AA Insurance remained middle-of-the-road in most cases — not the cheapest, not the most expensive.

3) AMI and State: Big Brand, Big Bill
  • AMI consistently charged higher premiums — averaging over $2,050 for the Aqua and Hilux, and more than $1,300 for the Demio.
  • State Insurance followed a similar trend, with only marginal savings compared to AMI — often within $20–$40.
  • These larger insurers may offer extensive features, but their premiums suggest you're paying for the name as much as the cover.

4) Toyota Corolla: Most Affordable to Insure
  • Despite being a top theft risk, the Corolla was the cheapest to comprehensively insure, averaging just $1,216, thanks to relatively lower replacement costs and perceived reliability.

5) Mazda2 and Demio: Cheap Wheels With a Catch
  • The Mazda Demio had relatively low premiums (avg: $1,265), but many insurers apply a theft excess unless the car is fitted with an alarm. Demio owners should double-check policy conditions to avoid a $1,000+ surprise at claim time.

6) Toyota Aqua: The Hybrid That Costs a Lot to Insure
  • While eco-friendly, the Toyota Aqua is the most expensive car to insure among the seven, with an average premium of $1,851, mainly due to theft risk and replacement cost. Alarm systems and immobilisers are crucial for reducing premiums.

7) Urban Drivers Beware – Aucklanders Pay More
  • No matter the model, premiums in Auckland suburbs like Takapuna, Mangere, and Henderson were 20%–35% higher than those in Dunedin or Hamilton. Risk-based pricing is alive and well in 2025 — location still dictates a big part of the premium.

Compare Car Insurance Quotes With Our Top Two Insurers for Comprehensive Cover – Cove and Tower

Our comprehensive car insurance research has identified Tower Insurance and Cove Insurance as leading options in car insurance based on price and policy cover. Cove was cheapest in 5 of 7 models where savings were significant. 

Important: Cove saves you with a free month of cover (up to $100), plus up to 10% off for multiple cars and up to 10% off for annual payments. Tower offers discounts, including excess-free key replacement.

Insurance Types Explained - Comprehensive vs Third-Party Fire and Theft (TPF&T) vs Third-Party

We analysed all three insurance types -  Comprehensive, Third Party Fire & Theft and Third Party policies to reflect the full range of options Toyota Aqua owners are offered by general insurers.

MoneyHub generally focuses on comprehensive policies, given the protection it offers. However, we accept that with the increasing cost of living, drivers are considering a third-party policy, given the cost savings. We explain what you need to know about each policy type:

Comprehensive
  • Covers repairs, theft, accidents, weather damage to your car, and liability to others. Annual policy costs in our survey of a Aqua with a $10,000 insured value range from $900 to $1,600 but offer the safest, most complete protection. Comprehensive policies are arguably ideal for newer Aqua owners (e.g., 2015 models and after) and/or those in high-risk areas like Auckland.
  • Comprehensive policies offer peace of mind and full asset protection, so you won't be out of pocket if your car is written off. However, Comprehensive policies are not always the best if you have a low-value Aqua and are prepared to replace or repair it out of pocket should your Toyota have an accident.

Third-Party Fire and Theft (TPF&T)
  • Covers fire, theft, and liability to others, but not accident damage to your car. Annual policy costs in our survey range from $460 to $850, making it a mid-tier option cheaper than Comprehensive policies.
  • Third-party fire and Theft are popular with Aqua owners with older models (e.g., pre-2015) or moderate budgets who want protection against theft without full coverage costs.
  • Overall, Third Party Fire and Theft offers a balanced mix of cost and coverage, safeguarding against key risks like theft, which should not be understated as Aquas are popular theft options per our most recent stolen car research. However, without a Comprehensive policy, you are exposed if your Aqua sustains accident damage, requiring out-of-pocket repairs or replacement.

Third-Party
  • Covers only damage you cause to others, excluding any protection for your car. Annual policy costs in our survey range from around $110 to $300.
  • Third-party policies arguably appeal to budget-conscious drivers with low-value Aquas or minimal usage. However, policyholders need to be prepared to self-fund repairs and be comfortable with the fact there is no protection against theft, fire, or accidents, a significant risk for owners unprepared to cover losses.

Know More: For detailed cost estimates tailored to your profile, use our Car Insurance Calculator.

Toyota Aqua Insurance Cost Comparison - AMI vs AMP vs AA Insurance vs Cove vs State vs Trade Me vs Tower

Our analysis of insurance costs for a 2018 Toyota Aqua across seven New Zealand cities reveals distinct trends by policy type, reflecting location and insurer variations. We encourage you to get your own online quotes from AMI, AA Insurance, ​AMP, Cove, State Insurance, Trade Me Insurance and Tower Insurance.

1. Comparing Comprehensive Toyota Aqua Insurance Quotes

  • Premiums show the widest range, reflecting full coverage for repairs, theft, and accidents. Costs are highest in Auckland, driven by urban risks like congestion and crime, and lowest in smaller cities like Dunedin, where risk profiles are lower.
  • Cove consistently offers the most competitive policy costs, while larger insurers charge more in our sample quotes. However, all provide robust protection suited to newer vehicles.
  • Our policy comparison guide looks at the details of each insurer's policy and its respective benefits.
Location AMI AMP AA Insurance Cove State Trade Me Tower
Takapuna $2,088.48 $1,574.86 $2,122.87 $1,569.81 $1,948.20 $2,381.93 $2,249.91
Henderson $2,297.84 $1,535.85 $2,077.31 $1,599.59 $2,285.05 $2,900.07 $2,750.14
Mangere $2,475.88 $1,567.70 $1,926.68 $1,616.43 $2,461.84 $3,178.34 $3,068.81
Hamilton $2,167.97 $1,216.48 $1,802.30 $1,225.33 $2,157.46 $2,104.33 $2,031.94
Wellington $1,951.86 $1,200.35 $1,758.57 $1,428.42 $1,943.27 $2,417.16 $2,333.95
Christchurch $2,241.10 $1,246.13 $1,795.05 $1,301.54 $2,230.87 $2,250.38 $2,172.94
Dunedin $1,868.75 $1,073.88 $1,675.23 $1,333.54 $1,861.02 $1,919.35 $1,853.36
Excess $400 $500 $400 $400 $400 $400 $400

Compare Car Insurance Quotes With Our Top Two Insurers for Comprehensive Cover – Cove and Tower

Our comprehensive car insurance research has identified Tower Insurance and Cove Insurance as leading options in car insurance based on price and policy cover. Cove was cheapest in 5 of 7 models where savings were significant. 

Important: Cove saves you with a free month of cover (up to $100), plus up to 10% off for multiple cars and up to 10% off for annual payments. Tower offers discounts, including excess-free key replacement.

2. Comparing Third Party Fire and Theft (TPF&T) Toyota Aqua Insurance Quotes

  • Overall, Aqua insurance costs are moderate, balancing theft and fire coverage with affordability. Variation across cities is less pronounced than Comprehensive, but Auckland remains pricier, and Dunedin again stands out for lower rates.
  • AA Insurance leads with cheaper quotes, though we could not get online quotes from some insurers, and Cove only offers comprehensive policies.
Location AMI AMP AA Insurance Cove State Trade Me Tower
Takapuna Need further details $652.04 $651.30 Not offered Need further details $656.27 $736.83
Henderson Need further details $734.85 $648.00 Not offered Need further details $750.62 $842.94
Mangere Need further details $731.14 $736.47 Not offered Need further details $759.71 $853.18
Hamilton Need further details $651.38 $518.16 Not offered Need further details $561.29 $658.40
Wellington Need further details $651.38 $522.57 Not offered Need further details $542.48 $608.82
Christchurch Need further details $614.94 $529.39 Not offered Need further details $577.45 $648.17
Dunedin Need further details $581.56 $460.55 Not offered Need further details $549.93 $617.22
Excess $400 $500 $400 $400 $400 $400 $400

3. Comparing Third-Party Toyota Aqua Insurance Quotes

  • The cheapest option shows the smallest cost spread, focusing solely on liability to others. Auckland premiums edge higher, while smaller cities like Hamilton and Dunedin offer the lowest rates.
  • State and AMI often undercut competitors, but every Aqua and owner is unique, so getting quotes from as many insurers as possible is important. 
Location AMI AMP AA Insurance Cove State Trade Me Tower
Takapuna $178.07 $215.86 $226.84 Not offered $157.80 $225.94 $256.61
Henderson $187.48 $221.44 $225.68 Not offered $166.06 $258.97 $294.13
Mangere $182.83 $276.44 $257.01 Not offered $160.48 $262.15 $297.75
Hamilton $152.12 $257.83 $179.68 Not offered $136.16 $192.68 $226.68
Wellington $148.38 $257.83 $181.24 Not offered $134.68 $186.09 $211.36
Christchurch $143.78 $261.55 $183.66 Not offered $130.50 $198.34 $225.27
Dunedin $119.20 $199.11 $159.26 Not offered $112.02 $188.70 $214.33
Excess $400 $500 $400 $400 $400 $400 $400

Must-Know Tips to Save on Toyota Aqua Insurance

​Every Toyota Aqua owner can cut insurance costs without compromising essential coverage:
  1. Compare All Insurers: Quotes vary widely; we suggest investing the time to check all seven providers (AMI, AA Insurance, ​AMP, Cove, State Insurance, Trade Me Insurance and Tower Insurance.) across Comprehensive, TPF&T, and Third Party.
  2. Consider Increasing Your Excess: Increasing from $400 to $800 can drop Comprehensive premiums by 10–20% - around $100–$300 annually - play around with online quotes to see what works for you.
  3. Leverage No-Claims History: A clean record for the last five years helps you qualify for no-claims bonuses. Furthermore, Aqua reliability boosts this perk as insurers consider the cars lower risk.
  4. Consider Switching to TPF&T or Third Party: The savings are considerable, but Aquas are hot targets for theft per our ongoing stolen car research.
  5. Pay Annually: Monthly payments add fees - paying a $1,000 Comprehensive policy upfront with many insurers offers a discount - check insurer terms for exact savings.
  6. Limit Optional Extras: Skip add-ons like roadside assistance if your Aqua is reliable—our driver's 6,000 km/year suggests low breakdown risk.
  7. Consider Multi-Policy Discounts: Many insurers, including Tower, State, AMI and AA Insurance, offer multi-policy discounts when you bundle your car insurance with other products, like home or contents cover. These discounts typically range from 5% to 20%, depending on the insurer and the policies bundled. For a typical $1,500 Comprehensive car insurance policy, this could mean savings of $75 to $300 annually - often for no extra effort. However, bundling doesn’t always mean better value - some standalone policies may still be cheaper, even after multi-policy discounts. Always compare the total cost before committing.

Frequently Asked Questions

Can I lower my Aqua's insurance by parking it in a garage?

Yes, garaging your Aqua can reduce premiums by 5–10% due to lower theft and weather risks. Your $900–$1,600 Comprehensive range means around $45–$160 saved yearly. Our sample quotes assume off-street parking, so a garage could cut costs further.

How does my Aqua's model year affect insurance?

Newer Aqua models have higher Comprehensive costs due to their replacement or insured value. Older Aquas may be more suitable for TPF&T or basic Third Party policies, although there is no protection for accident repairs or theft.

Why are Auckland insurance costs higher for my Aqua?

Auckland's urban risks—traffic, crime, and accidents, drive up premiums, whereas smaller cities like Dunedin are much cheaper to insure, given the lower risks.

Can I add a young driver to my Aqua's policy?

Yes, but adding someone under 25 could raise premiums by 20–50%. Your $1,000 Comprehensive policy is $200–$500 more. If you're looking to insure a young driver, you'll need to compare insurer by insurer to find the best deal, as prices vary significantly. Our guide to young drivers' car insurance has more details.

What if I drive more than 6,000 km/year?

More driving increases risk—insurers might add 5–15% for 10,000+ km/year. Your $1,000 policy is $50–$150 extra. Be sure to declare accurate mileage to get an appropriate quote and to keep any claims valid.

Is Third Party enough for my $10,000 to $20,000 Aqua?

The policies are the cheapest, but they only cover damage to others. If your Aqua is stolen (a common risk given the research), you'd lose $10,000 (if it was valued at $10,000). Comprehensive policies offers full protection - Third Party suits if you can self-fund losses.

Can I switch policies if I find a cheaper deal?

Yes, you're free to move at any time. Contact your existing insurer to get a refund if you have prepaid - most policies refund unused premiums minus a cancellation fee, if applicable. Just be sure your new policy is active before cancelling the old one to avoid any coverage gaps.

Does age impact insurance costs for Aqua owners?

Yes. While our sample driver profile is a 35-year-old male with a clean driving history, insurance premiums tend to drop significantly for drivers over 40. This is because insurers view mature drivers with long-term licence history and low claim activity as lower-risk. 

If you’re 45, 50 or 60 and have been claim-free, you may see premiums 10–25% cheaper than those outlined in our guide—even when insuring the same vehicle in the same suburb. For example:
  • A 35-year-old in Christchurch may pay $1,500 for a Comprehensive policy
  • A 55-year-old with similar driving history and car could pay $1,100–$1,300, depending on the insurer

The savings are not guaranteed, but worth checking. If you’re over 40, quote widely and make sure the insurer recognises your low-risk profile. Some offer age-based discounts or superior no-claims bonuses for long-term driving experience.

Compare Car Insurance Quotes With Our Top Two Insurers – Cove and Tower

Our comprehensive research has identified Tower Insurance and Cove Insurance as leading options in car insurance based on price and policy cover. Cove was cheapest in 5 of 7 models where savings were significant. 

Important: Cove saves you with a free month of cover (up to $100), plus up to 10% off for multiple cars and up to 10% off for annual payments. Tower offers discounts, including excess-free key replacement.
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