AMI is one of New Zealand’s largest car insurers, with particular strength in the South Island. Part of IAG (the world’s largest general insurer by premium), AMI offers competitive pricing and broad cover across the country.
Who Is AMI?
AMI was founded in 1926 as the Automobile Mutual Insurance Company — New Zealand’s first mutual motor insurer. It demutualised and was subsequently acquired by IAG NZ (part of Insurance Australia Group, the same parent as State Insurance and NZI in New Zealand).
AMI is notable for its role in the Canterbury earthquake response — it paid out billions in earthquake claims after 2010–2011, requiring partial government support. Today it continues as a mainstream mass-market insurer under IAG ownership.
AMI Car Insurance Cover Options
Comprehensive
Full cover for your vehicle and third-party liability:
- Accidental damage to your vehicle
- Third-party property damage (unlimited — no cap on third-party claims)
- Fire and theft
- Flood, storm, hail
- Windscreen damage
- Roadside assistance (optional add-on or via AA membership)
Third Party, Fire & Theft
- Third-party property damage
- Fire and theft cover for your own vehicle
Third Party Only
- Third-party property damage only
AMI Excess
AMI’s standard excess for comprehensive car insurance is typically $400, similar to AA Insurance. Age-related excesses apply:
- Drivers under 25: additional ~$500–$750 (check current policy)
- Named vs unnamed driver distinctions apply
AMI allows voluntary excess increases in exchange for premium reductions.
Pricing
AMI is generally competitive on price — often slightly cheaper than AA Insurance for similar cover, particularly in the South Island where AMI has strong market presence.
Multi-policy discounts are available for combining car with home and contents. AMI and State are both IAG brands, so their pricing and systems are similar — but they can price differently for the same risk profile, making it worth comparing both.
Claims Experience
As one of NZ’s highest-volume insurers, AMI has a mature claims operation:
- 24/7 claims phone line
- Online claims lodgement
- Approved repairer network across NZ
- Cash settlement option available
AMI’s claims reputation is generally positive, though — as with any large insurer — individual experiences vary. AMI’s Canterbury earthquake claims experience gave it deep expertise in large-scale claims management.
What AMI Does Well
- Competitive pricing — often among the more affordable options for standard-risk drivers
- Strong South Island presence and awareness
- Reliable claims infrastructure as part of the IAG group
- Broad cover for standard comprehensive policies
What to Watch
- Age-related excess structure — similar to AA Insurance, worth checking for under-25 drivers
- Roadside assistance is an add-on, not included in standard cover (unlike AA Insurance’s bundled Roadside Rescue)
- As an IAG brand, price and product decisions are made by a large corporate parent — less NZ-specific focus than Tower or Fidelity Life
AMI vs AA Insurance vs Tower
| AMI | AA Insurance | Tower | |
|---|---|---|---|
| Pricing | Competitive | Mid-market | Risk-based — varies |
| Claims | Strong | Very strong | Good |
| NZ-owned? | No (IAG/Australian) | No (Suncorp JV) | Yes (NZX) |
| Roadside included? | No (add-on) | Yes | No (add-on) |
| Agreed value? | Yes | Yes | Yes |
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