Business insurance · New Zealand · Head-to-head
NZI Insurance vs Vero Insurance
Two New Zealand business insurance options, compared side by side for New Zealand trades.
Which should you choose?
NZI Insurance and Vero Insurance 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.
NZI Insurance
Tier A · ListedIAG New Zealand's business insurance brand, sold through insurance brokers
NZI is the business and commercial insurance brand of IAG New Zealand, part of Insurance Australia Group (IAG), whose other NZ brands include AMI, State and Lumley. IAG says NZI provides business, rural and personal insurance through brokers, so trade businesses buy NZI cover through an insurance broker rather than directly.
Pros
- + Backed by IAG New Zealand, part of Insurance Australia Group
- + Broker distribution means advice on cover for your trade
- + Business, rural and personal cover available through one broker
Cons
- − No direct online quote; you need a broker
- − No public prices
- − Product details for trades are set per broker quote
New Zealand note
Sold through New Zealand insurance brokers; there is no direct online quote. Cover, limits and premiums for a trade business are set in the broker's quote.
Vero Insurance
Tier A · ListedSuncorp-owned NZ insurer with a Tradies Insurance policy sold through brokers and advisers
Vero Insurance New Zealand is part of Suncorp New Zealand, which belongs to Australia's Suncorp Group, and sells through insurance brokers, advisers and partners rather than directly. Its Tradies Insurance policy can combine cover for vehicles, tools, stock and equipment, mobile devices, premises, public and product liability and business interruption.
Pros
- + Tradies Insurance bundles vehicles, tools, liability and business interruption in one policy
- + Optional licensed building practitioner and defective workmanship cover
- + Broker or adviser helps set cover for your trade
Cons
- − No direct online quote; you need a broker or adviser
- − No public prices
- − Excesses, limits and exclusions vary by policy and are set in the quote
New Zealand note
Bought through a New Zealand broker or adviser (Vero has a broker locator on its site), not quoted directly online. Optional extras include licensed building practitioner cover and defective workmanship cover.
More New Zealand options
See all New Zealand business insurance vendors and the rest of the New Zealand directory.