Are more of your clients reducing insurance cover, or delaying buying the cover they need, due to the increasing cost of living?
- Yes (92%)
- Not sure (5%)
- No (3%)
Loading ...A report from nib says almost half (49%) of the families who took part in a survey it carried out are facing financial stress due to the cost of living. The figure is up from 35% two years ago.
Its annual State of the Nation Parenting Survey states that parents are making tough choices when it comes to paying for petrol and heating, and that 19% are skipping meals to make ends meet. This is even worse for Māori parents, affecting 26% – up from 13% in 2022.
But is this trend translating into under-insurance across New Zealand?
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