Third-party Vehicle Insurance is currently the cheapest type of vehicle insurance on the New Zealand market. Cheaper premium is a feature of this type of insurance, and the coverage is relatively limited compared to comprehensive vehicle insurance. In addition, SP Insurance experts believe that there are still some terms that need to be understood.
In New Zealand, drink driving and drug driving are more common reasons that insurance was declined. If the named driver drives the insured vehicle under the influence of alcohol or drugs, the claim for loss of the vehicle after the accident cannot be approved. In addition, the named driver's alcohol test exceeds New Zealand's legal restrictions or the named driver's failure to cooperate with alcohol or drug testing is also a category that cannot be covered. The only special factor under this clause is the theft of the insured vehicle.
The vehicle cannot be covered by the New Zealand insurance company if the insured vehicle is legally compulsory or repossessed. For example, the insurer buys the car in instalments, and in the case of unpaid repayments, this is the case when the vehicle is taken back by the lender.
New Zealand insurance companies will refuse to cover the vehicle due to the vehicle structure, machinery, electronic equipment and other issues that do not meet the standards for driving on the road. If the vehicle is damaged due to an accident and the driver continues to drive while knowing the damage, the vehicle will not be covered by the insurance company. For further information, please feel free to contact SP Insurance.