Posted on 22 September, 2017 at 6:00

If you are comparing funeral cover NZ quotes across a range of insurers it will become obvious very quickly that the range between the most expensive and the cheapest funeral plan can be significant. And often, when it comes to funeral insurance the plans are not too different from insurer to insurer. Most expensive does not always mean the best and cheapest does not always mean the worst.

Some insurers tend to be naturally expensive, they may have big high street offices, lots of staff, high advertising costs and think of themselves as a high value brand. So they deliberately position themselves at that end of the market when setting premiums.There are other insurers who could be referred to as no frills ie they are smaller, or niche insurers and who do not advertise so much.

Both could perfectly meet your requirements. But you need to be aware that there are differences between insurers and factor that in to your decision making process. Some insurers also reflect their own claim statiistis in to settting premiums. For example, insurer A may have had very bad experiences with claim numbers for smokers of a certain age or sex. So, they might load premiums for those people, whereas insurer b may have had a very good claims experience with the same group of people so they may set entirely different premiums for them.

When you buy funeral insurance, or any insurance type for that matter, you do need to compare at least 2 insurers but often we recommend at least 3 or 4. If you have heard of one particular insurer and look at their quotes without checking other insurers you could very well find yourselves paying a lot more than you should be.

Paul Woollams, Funeral Insurance NZ