Business insurance · New Zealand · Head-to-head
BizCover (NZ) vs Builtin
Two New Zealand business insurance options, compared side by side for New Zealand trades.
Which should you choose?
BizCover (NZ) and Builtin are both Tier A, which every business insurance entry without a reputation warning receives, so the tier does not separate them. Weigh the pros, cons, pricing and New Zealand-specific notes below against your trade and region.
BizCover (NZ)
Tier A · ListedOnline business insurance for NZ tradies, with cover from AIG, Ando, DUAL and BHSI
BizCover is an online business insurance platform, trading in New Zealand as BizCover Limited, that sells cover from four insurers (AIG, Ando, DUAL New Zealand and Berkshire Hathaway Specialty Insurance) and acts as the insurer's agent, not the customer's. It was founded in Sydney in 2008, is listed as one of AUB Group's business areas, and its NZ homepage says more than 18,000 NZ small businesses use it. It says it covers 900+ occupations, including builders, plumbers, electricians, painters and other trades.
Pros
- + Quote and buy online, with policy documents emailed straight away
- + Public liability limits from $1M to $20M
- + Publishes average monthly costs as a guide
- + Pay monthly or annually
Cons
- − Acts as the insurer's agent, not yours
- − BizCover fee of $20-$150 + GST per policy on top of the premium
- − Paying monthly adds $8 + GST a month
- − Commission and fees kept if you cancel
New Zealand note
For tradies BizCover sells public liability at six limits from $1M to $20M, tool and portable equipment cover, professional indemnity and other covers online, with policy documents emailed on purchase. On its tradie page it gives expected averages of $32 a month for public liability and $80 a month for tool cover (July 2023 to June 2024 customer average, a guide only). It adds a fee of $20 to $150 + GST per policy and keeps its commission and fees if you cancel.
Builtin
Tier A · ListedTauranga-based insurance broker for builders and trades, with roots in 2002
Builtin Insurance Brokers Limited is a Tauranga-based broker for builders and trade businesses, holding a Class 2 financial advice provider licence (FSP28581) and belonging to the Steadfast broker network. It traces its history to 2002, when it began insuring Certified Builders Association members, and says it is family-owned, with Keryl and Ben Rickard as shareholders and directors. It places cover with insurers including Ando, IAG, Vero, QBE, Lloyd's, DUAL, UANZ and AIG, across liability, contract works, tools, commercial vehicles, professional indemnity, bonds and a Residential Completion Guarantee.
Pros
- + Broker specialising in construction and trades, with its own FAP licence
- + LBP professional indemnity for Licensed Building Practitioners
- + Instant online quotes for liability, tools and vehicles
- + Residential Completion Guarantee you can offer homeowners
Cons
- − No published prices; premiums quoted per business
- − Paid by insurer commission and may add advisory fees
- − Completion Guarantee has no post-completion defects cover
- − Steadfast network takes up to 1.5% of each policy from insurers
New Zealand note
Builtin offers LBP professional indemnity for Licensed Building Practitioners (errors in records of work and negligent supervision) and instant online quotes for liability, tools and vehicles. Its Residential Completion Guarantee covers a homeowner's lost deposit and non-completion up to 10% of the contract value, to a maximum of $100,000, with no post-completion defects cover. It is the named insurance partner for TANZ, NZCCA, Building Hub and PlaceMakers Plus members.
More New Zealand options
See all New Zealand business insurance vendors and the rest of the New Zealand directory.