Car insurance

[skybluearmy]

I know that vehicle insurance isn't compulsary in NZ but i wondered if those that do have it do they have no claims bonuses :icon_question:

[ag28com]

If you don't have insurance, does this mean you personally have to settle any bills for accident damage (for yourself as well as third party)?

What happens if you don't have the money to do so?

[Daisyspop]

Bring proof of no claim period with you and you will receive approprate discounts just as you do in the UK.

[Welshgirl]

If you have an accident and you have no insurance:

a) If the other person involved is insured and it was their fault, you can claim off their insurance, regardless of whether or not you are insured.
b) If the other person is not insured and it was their fault, you can only claim injury compensation from ACC (Accident Compensation Corporation) but any damage to your vehicle could only be recovered through court proceedings against the other party. *
c) If the accident was your fault and you have no insurance, you are personally liable for any damage incurred. The other party would be able to take you to court to sue you. If you are not able to pay, then they could enforce an attachment of earnings, etc.

* N.B. If you do have insurance, and you have an accident in which the other party is at fault and is uninsured, you can claim off your insurance (if you have fully comprehensive insurance). Your insurance company may then sue the other party to recover their costs but at least you won't be out of pocket, although you may or may not lose your no-claims bonus, depending on the insurance company you are with!

And the moral of the story is - buy insurance! It's not worth the risk without it, and of course, you are covered in the unfortunate event your car gets stolen - flippin heck, I sound like an insurance broker now :icon_rolleyes: