Health insurance abroad is essential for any expat. In addition to expat healthcare insurance rates, insurance providers or online insurance comparison sites can provide life assurance quotes and auto insurance rates to provide you with overseas coverage. However, remember that cheap insurance may not represent the best value for money if you need to make a claim - as an expat you may require specialist expatriate insurance cover abroad.

To request free, no-obligation quotes from leading insurers, please visit our expat insurance page

Health insurance in New Zealand is for private healthcare and for those expats who do not have permanent residency status. Health insurance providers will ask applicants to give details of their medical history, family history and lifestyle. As in the US and the UK, insurers will not provide insurance cover for existing medical conditions. In New Zealand there are two types of health insurance policy. A comprehensive care policy will cover all medical bills, although some policies will only cover you up to a certain amount of funding each year. An elective surgical and specialist care policy is only for those occasions when a patient is hospitalised. All other medical expenses are covered by the patient or public funding. These policies will not cover some treatments, such as fertility treatment. Private healthcare insurance is occasionally offered by an employer as part of the employment package or employees can join a group scheme.

There are various types of life insurance available to New Zealand residents. Term life insurance is a policy which offers cover for a specific period of time and the policy premiums are usually the same each month. The policy is usually designed to end when the policy holder reaches a certain age and there is no payout if a claim has not been made before the end of the policy. Permanent life insurance is a policy that will pay out when the policy matures, even if a claim is not made. Whole life insurance also has fixed premiums, gives a cash value but may not have a good return when compared with other plans. Universal life insurance has a cash account into which the premiums are paid. Interest is paid on the policy into the account and administration charges are withdrawn from it. The amount paid out when the policy is surrendered is what remains in the account. Another life insurance option in New Zealand is the accidental death policy. A payout is limited to when the policy holder dies as a result of an accident.

It is advisable for all homeowners and tenants to have some form of house insurance. Tenants do not need to have insurance to cover the building, only their possessions and accidental damage. There are different types of policies which are available. A total replacement policy will cover the cost of rebuilding the house and all related fees. This is normally only applicable to those who live in their own homes and have kept the houses in reasonable condition. Some insurers may have an age limit on the type of building covered by this policy. A fixed sum insured policy will cap the amount that the insurance company is prepared to pay out if the house is destroyed. If the fees are more than the policy then the policy holder will need to pay the balance. An indemnity policy will pay out only what the house is worth at the time. This is usually based on market value. A contents policy can be included as part of these or purchased separately.

It is not essential in New Zealand to have a third party car insurance policy but these are advised in addition to a comprehensive policy so that in the event of an accident you will be covered in every aspect. Some policies may not cover you even if you are not to blame for the accident, so it is wise to ensure that you have a policy that covers everything.

Those who are in business for themselves may need to have professional liability insurance. This is particularly recommended for those who regularly come into contact with members of the public such as hairdressers, beauticians, mechanics and other professionals who provide a service. The policy will normally cover all aspects of any claim and will be designed specifically for your profession, so you should ensure that all aspects of your work are covered by the policy.

Useful Resources

NZI
Private Bag 92130
Auckland
Tel: 0800 694 222 (in NZ)
Tel: +64 9 969 6000
www.nzi.co.nz

AMI Insurance
P O Box 386
Christchurch 8140
New Zealand
Tel: 0800 100 200
Tel: +64 3 371 9000
Email: info@ami.co.nz
www.ami.co.nz

AA Insurance
P.O. Box 992
Shortland Street
Auckland 1140
Tel: 0800 500 213
www.aainsurance.co.nz