Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
ASB Car Insurance
Get a choice of cover levels, a range of optional extras plus a no-claims discount up to 65% with ASB car insurance.
Updated . What changed?
ASB Bank offers a full range of car insurance options including comprehensive cover, third party fire & theft and third party only. You have many opportunities to save, including a solid no-claims bonus and a multi-product discount that is increased if you are over 55. Keep reading to find out more about car insurance from ASB.
ASB car insurance – key facts
- ASB’s insurance policies are underwritten by IAG, a multinational Australian insurance company, which has a financial strength rating of AA- (Very Strong).
- One of New Zealand’s biggest banks, ASB has branches throughout the country for in person customer service. You can also get in touch with ASB by phone and email.
- ASB offers a range of other insurance products, including house and contents, travel, health and business.
What cover options does ASB car insurance offer?
Choosing a level of cover involves balancing your budget and the risk of loss if your car is stolen or if you are in an accident. Comprehensive insurance offers the best protection and you should weigh up a larger monthly premium against the possible consequences of not obtaining adequate cover.
ASB’s comprehensive car insurance product is called Full Cover and will protect you against the loss of your vehicle and against accidental damage.
The benefits include the following:
- Reimbursement for any damage to your vehicle or loss of your vehicle after an accident
- Cost to replace a vehicle that has been stolen
- Cost to repair damage caused by fire
- Cost to repair methamphetamine contamination if stolen
- Legal liability of up to $20 million for damage to or loss of another person’s vehicle, including accidental injury to a person
- Recovery of your vehicle if you cannot drive it after an event covered by the policy
- Up to $10,000 for accidental death or disablement
- Cover of up to $1,000 for a trailer
- Cover of up to $10,000 in legal defence costs if you are charged with manslaughter or dangerous driving
- Costs to get you and your family home
- Up to $750 in accommodation costs if your vehicle was damaged or stolen and you are more than 100 kilometres from your home
- A key replacement benefit
Protect yourself against the risk of theft and fire damage plus any third-party claims for damage.
Under this cover level, you benefit from the following:
- Reimbursement if your vehicle is stolen
- Cover for costs to repair or replace your vehicle in case of fire damage
- Cost to repair methamphetamine contamination if stolen
- Up to $20 million in cover for legal liability if, while driving your vehicle, you accidentally damage another person’s property or cause physical harm
- Up to $10,000 in legal defence costs if you are charged with dangerous or careless driving
- Up to $3,000 in costs if your vehicle is damaged due to the fault of an uninsured driver
It is risky to drive without insurance since you will need to pay compensation if you cause an accident. If you are on a strict budget, you should consider third party insurance at a minimum.
This policy covers you for the following:
- A maximum of $20 million in legal liability if you cause an accident which results in property damage or personal injury
- Up to $10,000 towards your legal defence if you are charged with dangerous driving or manslaughter
- Up to $3,000 towards repairing your vehicle if you are in an accident that is the fault of another driver
What is excluded by ASB?
Every insurer will refuse to pay claims under certain conditions. ASB’s exclusions include the following:
- Accidents occurring while an unlicensed driver was driving your car, unless you were teaching a learner’s licence holder
- Accidents where the driver’s blood alcohol level exceeds the legal limit
- Accidents while you are using your vehicle to carry fare-paying passengers
- Events where you were using the vehicle to carry goods or samples connected with a trade or business other than farming
- Use of your vehicle for testing or racing purposes
- Any claims resulting from an intentionally reckless act
- Tyre damage that is caused by a puncture, a cut or a burst
- The contents of trailers
- Vehicles which were modified outside manufacturer specifications and not approved by ASB
- Mechanical or electrical breakdown
- Wear and tear, rust and corrosion
How much excess will I pay?
When you make an insurance claim with ASB car insurance, you may be required to pay an excess. In other words, the first portion of the costs will be carried by you. The excess you pay will depend on your individual policy. The following are some exceptions where you won’t have to pay an excess:
- ASB may choose to waive your excess payment when you are in an accident that is clearly not your fault, provided you supply ASB with the full details of the party at fault
- All claims related to trailers carry a standard excess of $100
- Policies that include windscreen cover.
How to save on your ASB car insurance policy
- Drive carefully. ASB offers a no-claims discount of up to 65%, and your no-claims bonus will usually be protected if an accident is not your fault.
- Purchase multiple ASB policies. You may qualify for a package discount if you purchase multiple policies with ASB, such as policies for your home or pleasure craft.
- Install security. Installing a security system in your car, if it does not already have one, can lower your premiums.
- Exclude under 25s. ASB will reduce your premium if you exclude under 25s from cover. This does not apply to your partner.
- Pay annually. Your total premium payments will be less if you pay annually in advance, instead of monthly or fortnightly.
How do I make a claim?
You need to phone the toll-free ASB number if you want to make a claim. The insurer will require that you provide certain details about the incident. These can be difficult to collect in the moments after an accident, but be prepared to supply the following:
- A thorough description of the incident
- Your details including policy number
- Name and contact details of any other parties involved
- Photographic evidence of damage and, if applicable, the accident scene
- A police report number, if applicable
Other benefits of getting insurance with ASB
ASB offers the following unique benefits:
- High no-claims bonus. If you meet ASB’s terms and conditions, you stand to get a no-claims bonus of up to 65%.
- Older drivers save more. ASB offers special package discount rates for people over 55 who also purchase other insurance products from the insurer.
- Optional roadside rescue. You can add this optional cover to any ASB car insurance policy. Benefits include roadside help for flat tires, running out of fuel or a flat battery.
If you like keeping all your financial affairs under one roof, you should consider taking out an insurance policy with ASB Bank since ASB Bank is a full-service personal banking provider.
However, you should always check the cover on offer from ASB, as well as the premium you are quoted, as other insurers in New Zealand may offer a better deal. Nonetheless, ASB offers a comprehensive car insurance product that will protect you against the common risks of car ownership.
More guides on Finder
Uber car rentals
Renting a vehicle to drive with Uber gives you an easy way to get an eligible vehicle as well as have your insurance covered. Find out how it works and how to sign up today.
Used car guide: Things to consider when buying a used car
Learn about the used car buying process, including what you need to check on the car and what financing options are available.
How Kiwis can become $15,000 richer in 2021
Kiwis can boost their annual earnings by thousands of dollars by making use of their assets, time or skills, according to new research by Finder, a financial research and comparison site in New Zealand.
24% of Kiwi motorists have collided with an uninsured driver
Kiwi drivers may be putting themselves and others at risk by not taking out car insurance, according to new research by Finder, a car insurance comparison website in New Zealand.
How much can you really make as an Uber driver?
Is signing up as an UberX driver worth it? Use the calculator and read our guide to find out how much you might expect to make.
Finder Car Insurance Consumer Survey 2020
We asked more than 2,000 Kiwis about their experiences with and thoughts on car insurance in New Zealand. This is what they said.
Home insurance shakeup? Startup Cove expanding into new market
Innovative car insurer Cove will soon offer house and contents insurance products. We look at the Kiwi company’s plans to disrupt the market.
Save on driving costs – our top 25 tips
Keen to save money on your driving costs? Our comprehensive guide shows you how.
Where to buy cycling clothing gear online in New Zealand
With Tour De France just around the bend (yes, pun intended) we’ve pulled together a comprehensive guide of what should be in your shopping cart before the day’s out.
1 in 10 Kiwis don’t lock their doors
Thousands of Kiwis may be putting themselves at increased risk of being burgled according to new research by Finder. A recent survey of 2,001 respondents found that 1 in 10 Kiwis don’t lock their door