A survey has revealed growing mistrust of insurers in New Zealand as consumers continue to flag affordability concerns.  

The Consumer NZ Sentiment Tracker finds insurance is now the fourth-biggest cause of financial pressure on respondents – behind housing, food, and household debt – up from sixth last October.  

The shift has dented the sector’s reputation, with more people now saying they distrust insurers than trust them.  

And Consumer NZ warns the trends will worsen if the industry fails to demonstrate value, increase transparency in decision-making and ensure fairness in its offerings.  

“Insurance is meant to provide a safety net, but for many people it’s becoming increasingly difficult to access,” the consumer group’s investigations team leader Rebecca Styles said.

“We’re hearing more and more from consumers who feel they’re being priced out of essential cover.

“When you add the complexity of policies and the lack of transparency, it’s easy to understand why trust in the industry is falling.”  

A record 65% of New Zealanders rank cost of living as their top concern.  

The poll also shows climate concerns are becoming less immediate, with only 12% of respondents ranking them among their top three issues.  

Consumer NZ says its upcoming report on affordability of home and contents cover will provide more context on the survey findings.