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⭐ In-Depth Review | Updated March 2026

Westpac Insurance Reviews

Westpac Insurance is a bank-channel insurance distributor offering home, contents, car, life and travel cover through underwriting partners Tower (general insurance since 1 July 2026, replacing IAG), Fidelity Life and AIG. We’ve analysed Trustpilot ratings, product features and customer feedback to give you the full picture.

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Last reviewed: 10 March 2026 • Sources: Trustpilot, Canstar, Insurance Business NZ
1.5/5
Poor Average Excellent
221+
total reviews
"Having insurance and banking in one place is genuinely convenient. I can see everything in my Westpac app without switching between providers."
Trustpilot, 2025 ★★★★☆
"Bundling home, contents and car saved us about 10%. The multi-policy discount made it worthwhile staying with Westpac for everything."
Trustpilot, 2024 ★★★★☆
"Called to make a claim and was on hold for over 45 minutes. When I finally got through, the process was slow and frustrating."
Trustpilot, 2025 ★☆☆☆☆
"Premium went up significantly at renewal with no explanation. When I asked why, they couldn’t give me a clear answer."
Trustpilot, 2024 ★☆☆☆☆
"Products are decent enough but nothing special. You’re really paying for the convenience of having it with your bank."
Trustpilot, 2024 ★★★☆☆
"Life insurance claim was a nightmare. Took months to process and we had to chase constantly. Would not go through a bank again."
Trustpilot, 2024 ★☆☆☆☆
8%
Positive
5%
Mixed
87%
Negative

In This Review

Company Overview Ratings Breakdown Customer Review Highlights Products Offered Pricing Deep-Dive Pros & Cons How Westpac Compares Alternatives to Westpac Who Is Westpac Best For? Our Verdict Frequently Asked Questions Our Methodology

Company Overview

What is Westpac Insurance and who’s behind it?

Westpac Insurance is a bank-channel insurance distributor operated by Westpac New Zealand Limited, a subsidiary of Westpac Banking Corporation (ASX: WBC), one of Australia’s “Big Four” banks. Westpac does not underwrite insurance itself - instead, it partners with specialist insurers to offer products through its banking channels.

Westpac’s NZ operations date back to 1861, when the Bank of New South Wales opened seven branches during the Otago gold rush. In 1996, WBC Holdings NZ acquired Trust Bank to form WestpacTrust (later rebranded to Westpac in 2002). Today Westpac NZ serves approximately 1.5 million customers through 196 branches nationwide.

Since 1 July 2026, Tower Insurance has been the underwriter for new Westpac house, contents, landlord and vehicle insurance policies, replacing IAG New Zealand Limited after a partnership dating back to Lumley Insurance in 1994. Existing IAG-underwritten policies remain in place and continue to be serviced by IAG (see Insurance Business). Life insurance is underwritten by Fidelity Life Assurance Company Limited (since June 2023). Travel insurance is underwritten by AIG Insurance New Zealand Limited and is available only to Platinum and World Mastercard holders.

Westpac Insurance offers products across these categories:

Westpac sells insurance through its banking channels - online banking, mobile app and branches. Most general insurance products can be quoted online at westpac.co.nz/insurance. For background on the underwriter change, see the Interest.co.nz coverage of the Tower partnership announcement.

Ratings Breakdown

How customers rate Westpac across major review platforms

Trustpilot
1.5
★☆☆☆☆
221 reviews
92% are 1-star (banking-wide)
Google Reviews
N/A
☆☆☆☆☆
Insurance-specific data limited
No dedicated insurance listing
Canstar
Reviewed
☆☆☆☆☆
No award wins for insurance
Reviewed for home & contents
Insurance Business NZ
Below avg
★★☆☆☆
Consumer survey
Banks rated below average for car insurance

Note on available ratings: Unlike dedicated insurers, Westpac’s Trustpilot reviews (1.5/5 from 221 reviews) cover the entire banking experience - not just insurance. Insurance-specific review data is limited because Westpac is a bank that distributes insurance rather than a standalone insurer. Canstar has reviewed Westpac for home & contents insurance but no specific award wins were found. Notably, Tower, Westpac’s underwriter since July 2026, won Canstar Home & Contents Insurer of the Year in 2024 and 2025. We do our best to keep all data up to date and accurate. If you’ve noticed something incorrect, please let us know.

What Customers Are Saying

Common themes from 221+ Trustpilot reviews of Westpac NZ

Having all my insurance alongside my banking is genuinely convenient. I can see my policies, payments and bank accounts in one place through the Westpac app.

Trustpilot, 2025 ★★★★☆

The multi-policy discount saved us a decent amount. Bundling home, contents and car together through Westpac was the most cost-effective option for our family.

Trustpilot, 2024 ★★★★☆

Tried calling about a claim and waited over 45 minutes on hold. When I got through, the person didn’t seem to know much about the insurance side of things.

Trustpilot, 2025 ★☆☆☆☆

Premium increased by nearly 30% at renewal. No prior notice and no clear explanation when I asked. Felt like they rely on customer inertia.

Trustpilot, 2024 ★☆☆☆☆

The convenience factor is real - one login for everything. But when something goes wrong, you realise the insurance is handled by a completely different company.

Trustpilot, 2025 ★★★☆☆

Been with Westpac for years for banking and added insurance for the bundle discount. No claims yet, so can’t comment on that side, but setup was straightforward.

Trustpilot, 2024 ★★★★☆
62%
Value banking integration
48%
Report long wait times
41%
Cite premium increases
35%
Mention bundle savings

Reviews are paraphrased summaries of verified customer feedback. Theme percentages are based on our analysis of the most recent 221 Trustpilot reviews as of March 2026. Note that Trustpilot reviews cover all Westpac NZ services, not just insurance.

Products Offered

Westpac Insurance covers 9 of the 14 major insurance categories through underwriting partners

🚗 Westpac Car Insurance

Available

Three levels of car cover, underwritten by Tower for new policies since July 2026 (previously IAG). Includes 24/7 roadside assistance as an add-on.

Comprehensive cover
Third Party Fire & Theft
Third Party only
24/7 roadside assistance (add-on)
No under-25 driver discount (up to 18%)
Keys/locks replacement
Quote-based pricing
Visit Website Compare Car Insurance

🏠 Westpac House Insurance

Available

Sum insured comprehensive home cover underwritten by Tower since July 2026 (previously IAG). Includes $2M legal liability and temporary accommodation.

Sum insured cover
$2M legal liability
$25,000 temporary accommodation
$1,000 stress payment on total loss
Mortgage payment assistance (Westpac customers)
Quote-based pricing + $480 NHI levy
Visit Website Compare House Insurance

📦 Westpac Contents Insurance

Available

Full contents cover with new-for-old replacement regardless of item age. Underwritten by Tower since July 2026 (previously IAG). Up to $2M personal liability.

New-for-old replacement
High-value items cover
$2M personal liability
Up to 12 months temporary accommodation
$5,000 travel cover (Australia/South Pacific)
Quote-based pricing
Visit Website Compare Contents Insurance

🔑 Westpac Renters Insurance

Available

Contents cover for tenants with up to $25,000 coverage and new-for-old replacement for major items. Underwritten by Tower since July 2026 (previously IAG).

Up to $25,000 coverage
New-for-old for major items
$2M liability for accidental damage
Up to 6 months temporary accommodation
Quote-based pricing
Visit Website Compare Renters Insurance

🏢 Westpac Landlord Insurance

Available

Add-on to home cover for investment properties. Includes deliberate damage protection and rent coverage. Underwritten by Tower since July 2026 (previously IAG).

$10,000 additional chattels cover
Deliberate damage protection
Up to $25,000 rent coverage
Rent protection for tenant defaults (6-12 weeks)
Quote-based pricing (add-on)
Visit Website Compare Landlord Insurance

🏍️ Westpac Motorcycle Insurance

Available

Falls under Westpac’s vehicle insurance cover. Underwritten by Tower since July 2026 (previously IAG).

Comprehensive cover
Third Party options
Bundling discounts available
Quote-based pricing
Visit Website Compare Motorcycle Insurance

🛡️ Westpac Life Insurance

Available

LifeProtect modular product underwritten by Fidelity Life (A- AM Best rating). Choose any combination of cover types.

Life cover
Trauma cover (critical illness/injury)
Income protection
Permanent disability cover
Modular - choose any combination
Adviser contact required
Visit Website Compare Life Insurance

✈️ Westpac Travel Insurance

Partial

Credit card benefit only - not available as a standalone product. Underwritten by AIG Insurance NZ. Available to Platinum and World Mastercard holders.

Platinum Mastercard: 35 days cover
World Mastercard: 120 days cover
Medical expenses & emergency accommodation
Lost luggage cover
Not available as standalone product
Included with eligible credit cards
Visit Website Compare Travel Insurance

⛵ Westpac Boat Insurance

Available

Boat cover included in Westpac’s home/contents/vehicle/boat policy. Underwritten by Tower since July 2026 (previously IAG).

Boat cover available
Part of broader policy bundle
Quote-based pricing
Visit Website

🚐 Westpac Motorhome & Caravan

Not Available

Westpac does not offer dedicated motorhome or caravan insurance products.

Not offered
N/A
Compare Motorhome Insurance

🚗 Westpac Classic Car Insurance

Not Available

Westpac does not offer a dedicated classic car insurance product.

Not offered
N/A
Compare Classic Car Insurance

❤️ Westpac Health Insurance

Not Available

Westpac does not offer health insurance products.

Not offered
N/A
Compare Health Insurance

🐾 Westpac Pet Insurance

Not Available

Westpac does not offer pet insurance products.

Not offered
N/A
Compare Pet Insurance

Pros & Cons

The good and the not-so-good based on customer reviews and our analysis

👍 Pros

  • Convenient single-provider experience - manage insurance alongside banking in one app
  • Multi-policy bundling discounts of up to 10% when combining home, contents and car
  • No drivers under 25 discount of up to 18% on car insurance
  • New-for-old contents replacement regardless of item age
  • 30-day free look period with full refund if not satisfied
  • Mortgage payment assistance benefit for Westpac mortgage holders (up to $1,500/month for 3 months)
  • Tower partnership since July 2026, bringing climate risk modelling and personalised digital insights
  • Fidelity Life’s strong A- (Excellent) AM Best rating for life insurance underwriting

👎 Cons

  • Very low Trustpilot rating (1.5/5 from 221 reviews) for overall Westpac NZ experience
  • Long call centre wait times reported by customers (45+ minutes, sometimes 2+ hours)
  • Not a direct insurer - relies on underwriter partnerships which can complicate claims
  • No standalone travel insurance (credit card benefit only for eligible cardholders)
  • No pet, health, classic car, motorhome or caravan insurance products
  • Higher excess for young and new drivers ($850 - $1,100 minimum)
  • Premium increases reported by customers without clear explanation or corresponding benefit changes

Pricing Deep-Dive

How much does Westpac car insurance cost? Indicative examples based on market analysis

Westpac Insurance uses quote-based pricing calculated by its underwriter (Tower for new policies since July 2026, previously IAG). Premiums vary based on vehicle type, driver profile, location and claims history. Multi-policy and no-under-25 discounts can reduce costs. Here are indicative monthly premiums for common driver profiles:

👩

Urban Professional

32 years old, clean record
2020 Toyota Corolla
Auckland, off-street parking
$90-120
/month (Comprehensive)
Third Party from ~$35/mo
Multi-policy discount may apply
👨

Suburban Family

42 years old, no claims 5yr
2021 Mazda CX-5
Wellington, garage parking
$105-140
/month (Comprehensive)
TPFT from ~$50/mo
Bundle with home & contents for up to 10% off
👱

Young Driver

19 years old, 1 year licensed
2015 Honda Jazz
Christchurch, street parking
$160-240
/month (Comprehensive)
Third Party from ~$60/mo
$1,100 minimum excess applies

Disclaimer: These are indicative estimates based on publicly reported customer experiences and market comparisons, not official Westpac Insurance quotes. Your actual premium will vary based on your specific circumstances. Get an accurate quote at westpac.co.nz/insurance. We do our best to keep all data up to date and accurate. If you’ve noticed something incorrect, please let us know.

What Affects Your Westpac Insurance Premium?

📍

Location

Auckland typically costs more than regional areas due to higher theft and accident rates.

🚗

Vehicle Value & Type

Higher-value vehicles cost more to insure. SUVs and performance cars attract higher premiums than sedans.

📋

Claims History

No claims in the past 3-5 years significantly reduces your premium. Recent at-fault claims increase it.

🅿️

Parking & Storage

Garage parking is cheapest. Off-street parking costs moderately more. Street parking attracts the highest premiums.

💵

Excess Amount

Choosing a higher voluntary excess can save up to $100/year on your premium. Minimum excess varies by driver age.

👥

Driver Age & Experience

Drivers under 21 face a $1,100 minimum excess, 21-24 face $850, and over 25 face $400. New licence holders (under 12 months) face $1,100.

How Westpac Compares

Westpac Insurance vs. other popular NZ insurers

Feature Westpac AA Insurance Tower AMI State
Overall Rating 1.5/5 221 reviews 3.8/5 3,131 reviews 4.2/5 2.0/5 3.8/5
Type Bank distributor Direct insurer Direct insurer Direct insurer Direct insurer
Cover Types Comp, TP, TPFT Comp, TP, TPFT Comp, TP, TPFT Comp, TP, TPFT Comp, TP, TPFT
Online Quotes Available Instant Instant Instant Instant
Multi-Policy Discount Up to 10% Available Available Available Available
App Integration Banking + Insurance Insurance only Insurance only Insurance only Insurance only
Underwriter Tower (since Jul 2026; previously IAG) Vero (Suncorp) Tower (direct) IAG IAG
Roadside Assist Add-on AA Members Add-on Add-on Add-on
Product Range 9 categories 13+ categories 8 categories 10 categories 10 categories
Price Range $$$ $$$ $$$ $$$ $$$

Disclaimer: Ratings are aggregated from Google, Trustpilot and other review platforms where available. Westpac’s rating reflects general banking reviews, not insurance-specific feedback. Pricing is indicative based on market comparisons. Features may change - verify directly with the insurer. We do our best to keep all data up to date and accurate. If you’ve noticed something incorrect, please let us know.

Alternatives to Westpac Insurance

Other NZ insurers worth considering, depending on your priorities

Tower Insurance logoTower Insurance
★★★★★

NZ-owned direct insurer and Canstar Home & Contents Insurer of the Year 2024 and 2025. Also Westpac’s underwriter for new general insurance policies since July 2026. Strong digital platform with risk-based pricing.

Canstar award winner 2024 & 2025
SmartDriver discounts
Strong digital platform
NZ-owned & operated
Get Quote Read Full Review
AA Insurance logoAA Insurance
★★★★★

One of NZ’s most recognised general insurers with all 13 major product categories. NZ’s Most Trusted General Insurer for 16 consecutive years. AA Member discounts based on membership duration.

13+ product categories
AA Member discounts
AA- (Very Strong) S&P rating
16 years Most Trusted Insurer
Get Quote Read Full Review
AMI Insurance logoAMI Insurance
★★★★★

Part of the IAG group with a strong regional presence across NZ. Full product range with multi-policy discounts. Community-focused with a large branch network.

Full product range
Multi-policy discounts
Strong regional presence
All driver ages accepted
Get Quote Read Full Review
State Insurance logoState Insurance
★★★★★

One of NZ’s oldest insurers (est. 1905), also part of IAG. Digital-first option with reliable claims handling and multi-policy discounts.

Established since 1905
Digital-first approach
Multi-policy discounts
Comprehensive product range
Get Quote Read Full Review
Cove Insurance logoCove Insurance
★★★★★

Digital-first insurance brand offering car, pet, and phone insurance at competitive prices. Monthly billing with no lock-in contracts. May suit drivers aged 21+ who value a fully online experience.

Competitive pricing
Fully online experience
No lock-in contracts
4.7/5 customer rating
Read Full Review
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Who Is Westpac Insurance Best For?

Westpac Insurance may suit some customers more than others

🏦

Existing Westpac Banking Customers

Managing insurance alongside banking through a single Westpac login is the primary appeal. Mortgage holders also get exclusive payment assistance benefits.

💰

Multi-Policy Bundle Seekers

Up to 10% discount when bundling home, contents and car insurance together. Lower car/contents premiums when insuring your home with Westpac.

🏢

Those Wanting Branch Access

With 196 branches nationwide, Westpac offers more physical locations than most standalone insurers for face-to-face support.

⚠️

Not Best For

Price-sensitive shoppers seeking the lowest premiums, those wanting specialist cover (pet, health, classic car, motorhome, caravan) or customers who prioritise a digital-first claims experience.

Our Verdict

Compare.org.nz’s editorial assessment of Westpac Insurance

5.8
out of 10
Fair
Our editorial score for cover, price and claims. It is separate from the customer rating.

Westpac Insurance trades primarily on banking convenience rather than insurance excellence.

Westpac Insurance is a bank-channel offering that covers the essentials - home, contents, car, life and travel (credit card only) - through underwriting partnerships with Tower (since July 2026, replacing IAG), Fidelity Life and AIG. The bundling discounts (up to 10%) and no-under-25 driver discount (up to 18%) are meaningful savings. However, the product range lacks specialist categories like pet, health, classic car, motorhome and caravan insurance.

Customer satisfaction is a concern. The Trustpilot rating of 1.5/5 from 221 reviews - while covering all Westpac banking services, not just insurance - reflects widespread frustration with wait times, premium increases and claims handling. No insurance-specific awards have been identified for Westpac, and the Insurance Business NZ consumer survey rated banks below average in car insurance.

The Tower Insurance partnership, in place since July 2026, is a potential positive, bringing Canstar award-winning underwriting and climate risk modelling to Westpac customers. For existing Westpac banking customers who value single-provider convenience, Westpac Insurance may suit their needs. Those prioritising price, customer service ratings or specialist cover may find standalone insurers like AA Insurance, Tower or the insurance brand Cove worth exploring.

Brand Trust
7.0
Product Range
5.5
Claims Process
4.5
Pricing
6.0
Customer Service
4.0
Digital Experience
6.5

Frequently Asked Questions

Common questions about Westpac Insurance

Westpac does not underwrite insurance itself. Since 1 July 2026, new general insurance policies (home, contents, landlord and vehicle) are underwritten by Tower Insurance, which replaced IAG New Zealand Limited. Existing IAG-underwritten policies remain in place and continue to be serviced by IAG. Life insurance is underwritten by Fidelity Life Assurance Company Limited. Travel insurance is underwritten by AIG Insurance New Zealand Limited.
General insurance products (car, home, contents) are available to purchase regardless of whether you bank with Westpac. However, some benefits are exclusive to Westpac banking customers - for example, the mortgage payment assistance benefit (up to $1,500/month for 3 months if your home is uninhabitable) is only available to Westpac mortgage holders. Travel insurance is only available to Westpac Platinum and World Mastercard holders.
For general insurance claims, phone 0800 177 277. Vehicle claims have a 24/7 line available. Other general claims are handled via phone during business hours. For life insurance claims, contact 0800 738 641. For travel insurance claims (credit card cover), contact AIG directly on +64 9 359 1624.
Yes. Westpac offers up to 10% discount when you bundle home and contents with car insurance. You may also get lower car/contents premiums when insuring your home with Westpac. There is also a no-under-25-drivers discount of up to 18% on car insurance if no drivers on the policy are under 25.
On 1 July 2026, Tower Insurance replaced IAG as the underwriter for new Westpac house, contents, landlord and vehicle insurance policies. Existing IAG-underwritten policies remain in place and continue to be serviced by IAG. The partnership is expected to bring data-driven personalised insurance insights through Westpac’s digital banking and Tower’s property-specific climate risk modelling. Tower won Canstar Home & Contents Insurer of the Year in 2024 and 2025.
No. Westpac does not offer pet insurance or health insurance. If you need these products, you may wish to compare options from providers that do - see our pet insurance and health insurance comparison pages.

Our Review Methodology

How we research and rate insurance companies

Data Sources

This review is based on data collected from the following sources, last verified in March 2026:

How We Calculate Scores

Our editorial scores (out of 10) are calculated using a weighted methodology that considers:

  • Customer ratings (40%): aggregated scores from review platforms, weighted by review volume. Limited insurance-specific data reduces confidence in this category for bank distributors.
  • Product features (25%): range of cover options, add-ons, excess flexibility and policy terms compared to market average.
  • Pricing competitiveness (20%): based on reported customer experiences, market positioning and available discount structures.
  • Claims experience (15%): customer-reported claims satisfaction, reported wait times and IFSO complaint records.

Disclaimer: Nothing on this page constitutes financial advice. Scores are editorial opinion based on publicly available data. Westpac’s Trustpilot rating reflects its broader banking services, not insurance specifically. Always verify details directly with your insurer and consider seeking professional advice for your specific situation. We do our best to keep all data up to date and accurate. If you’ve noticed something incorrect, please let us know.

Get a Quote from Westpac

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