Consumer NZ has issued a warning that the situation could deteriorate further unless the insurance sector demonstrates greater value, transparency, and fairness. Insurance, traditionally seen as a safety net, is becoming increasingly inaccessible for many, according to Rebecca Styles, the investigations team leader at Consumer NZ. She indicates that the rising costs and complex policies contribute to this growing mistrust.
A notable 65% of New Zealanders have identified the cost of living as their primary concern, further illustrating the economic challenges faced by consumers. Meanwhile, environmental issues appear to have shifted down the priority list, with only 12% of those surveyed citing climate concerns as one of their top three issues.
Consumer NZ plans to address these concerns further in an upcoming report on the affordability of home and contents insurance, aiming to shed more light on the barriers facing New Zealanders today.
