About Lantern Insurance

  • Lantern is a business division of IAG New Zealand Limited (IAG). As a market leader, IAG is there for customers today, and plans for the future so we can help make your world a safer place.
  • AA- Financial strength rating
    Lantern is a business division of IAG New Zealand Limited (IAG). IAG has received a financial strength rating of AA- from Standard & Poor’s (Australia) Pty Ltd, an approved rating agency.
    A rating of AA- means IAG has a ‘very strong’ claims-paying ability, as you can see in the scale below.
    The rating scale is:

    AAA (Extremely Strong)
    AA (Very Strong)
    A (Strong)
    BBB (Good)
    BB (Marginal)
    B (Weak)
    CCC (Very Weak)
    CC (Extremely Weak)
    SD (Selective Default)
    D (Default)
    R (Regulatory Supervision)
    NR (Not Rated)
    The ratings from 'AA' to 'CCC' may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the major rating categories.
    The rating scale above is in summary form. A full description of this rating scale can be obtained from www.standardsandpoors.com
  • Solvency margin
    ​In its Annual Solvency Return filed with the Reserve Bank of New Zealand, IAG New Zealand Limited had a Solvency Margin as at 30 June 2019 as follows:
    Actual Solvency Capital
    Minimum Solvency Capital
    Solvency Margin
    Solvency Ratio
  • We sell a range of NZI products that provide cover for your:

    • House
    • Contents
    • Car
    • Caravan
    • Trailer
    • Boat
    • House renovations or new domestic building work
    • Motorcycle
    • Small Business

    We also offer a mechanical and electrical breakdown warranty product for your car.

  • Please take a few moments to read this important information.​

    Licensing and nature and scope of financial advice

    Lantern Insurance is underwritten by IAG New Zealand Limited (IAG/we). IAG has been granted a Financial Advice Provider (FAP) license by the Financial Markets Authority to provide financial advice. Advice will only be given about fire and general insurance products underwritten by IAG

    Duties Information

    IAG employes Nominated Representatives who are authorised to provide financial advice on its behalf. IAG and its Nominated Representatives are bound by duties under the Financial Markets Conduct Act of 2013 relating to the way financial advice is given.

    That means we are required to exercise care, diligence and skill and give priority to your interests when providing financial advice. We also need to meet applicable standards of ethical behaviour, conduct, client care, competence, knowledge and skill under the Code of Professional Conduct for Financial Advice Services (these are designed to make sure we treat you as we should, and give you suitable advice).

    You can learn more about the code by going to www.fma.govt.nz and searching for 'financial advice'.

    Fees, commissions and other incentives

    We do not pay any commissions or other sales incentives to our Nominated Representatives. If you receive financial advice from us you will not pay any additional fees, expenses or other amounts in relation to the receipt of that financial advice, regardless of whether you proceed with purchasing a Lantern product or not.

    Internal complaints procedures and external dispute resolution

    We understand that things don’t always go to plan and there may be times when you feel we’ve let you down. If this happens, we want you to tell us. We’ll do our best to put things right as soon as possible or explain something we could have made clearer.

    Step 1:Let us know what your concerns are:

    Call 0800 800 800

    Email us

    Write to PO Box 33714, Takapuna, Auckland, 0740

    We'll acknowledge your complaint within five business days.

    Step 2:If we can’t reach a resolution together, you’ll be referred to a manager who’ll aim to investigate and resolve your complaint within two weeks. If this isn’t possible, we’ll advise you of progress within ten business days.

    Step 3:If after working with a manager, we haven’t been able to make it right, we’ll escalate your case to a Complaints Resolution Officer to review.

    Step 4:If we’re unable to resolve your complaint, we’ll advise you in writing. You can refer your case to the Insurance & Financial Services Ombudsman (IFSO) Scheme.

    The IFSO is an independent authority that will carry out an impartial investigation.

    The IFSO scheme has been approved by the Minister of Commerce & Consumer Affairs to provide an external dispute resolution to consumers with complaints about financial service providers. It offers a free and independent complaints service.

    The IFSO can be contacted in the following ways:


Car Insurance

  • We don’t provide a discount on your premiums, but there are benefits to installing an NZI approved engine immobiliser. The risk of your car being stolen or damaged during an attempted theft will be greatly reduced and if you do have to make a claim for theft or attempted theft damage and your immobiliser was activated at the time, you won't have to pay an excess and you won't lose your no claim discount.​

  • We work with a no claims discount system. If there is a claim we may alter the level of this discount at your renewal.​


Insurance terms

  • It is a document that along with your application for insurance and the policy schedule, forms part of the insurance contract between you and us. The policy wording is common for all customers and describes what property is covered, the events your property is or isn’t insured against as well as the amounts that you can claim. It also describes the obligations you must meet in order for the policy to remain valid.​

  • You will receive a policy schedule when you buy a policy and when a change is made to your policy. The policy schedule contains information specific to you such as details of the property you insured, the dates you are insured from and to, the amount it is insured for, any excesses that apply and any special conditions that apply to your policy. Together with the policy wording, the policy schedule is your contract of insurance.​

  • “Premium” is an insurance term meaning the “cost” or “price” of the insurance policy. A premium advice is a document you will receive when you first purchase insurance, before your policy is due to expire or if a change is made to your policy that results in a refund or extra premium to pay. It describes what the premium is, the date the payment is due by and the payment options available to you.​

  • The market value of your vehicle is the reasonable cost to buy a vehicle of the same year, make, model and specifications, mileage/hours and general condition as your vehicle. Agreed value is the amount you and your Insurer agree will be paid to you if your vehicle is irreparable following an insured event. However, all of Lantern Insurance / NZI vehicle products offer market value in the event of a claim.​


Joining Lantern Insurance


Payment information

    • Annually by invoice (Bill payment or by credit card)
    • Monthly direct debit payments from your bank account - we offer two date options the 10th or 25th of the month. In most cases this can now be completed over the phone without the need to complete a form.
    • Monthly credit card payments.
  • No, we don’t accept automatic payments or monthly cheques; however you can pay by monthly direct debit instead.​

  • We have a range of ways to help customers save on premiums, so you can stay insured and protected. We may also be able to help if you can’t afford your excess and you need to make a claim.

    If you’re experiencing financial hardship or finding it difficult to make ends meet, please click the link below, fill in the form and we’ll be in touch with you within five working days.

    Request financial hardship assistance​

  • Each customer’s situation is unique, so we offer a range of tools to support customers who are having difficulty paying their premiums or claims excesses. These tools can help tailor your insurance to ensure it still meets your needs while reducing the premium you pay. These include making changes to your excess, policy types and cover.

    Some things you could consider include:​

    • Opting for a higher excess as this may lower your premium
    • Reviewing the optional add-ons to your insurance to ensure they are still relevant for you
    • Changing the type of cover you have
    • Reviewing your eligibility for discounts
    • Removing drivers who are under 25 on your car insurance
    • Changing your payment frequency.

    Please contact us on 0800 800 800, and we can review your insurance. 


Getting set for a cheque-free future



  • Making a claim can be daunting, that’s why we’ve developed an experience that we hope will be helpful to you.

    What is, ‘The Lantern Experience’

    • When you call we’ll identify you over the phone and quickly find your cover details.
    • There’s no need to complete any forms. Claims are handled over the phone in most cases.
    • If an assessment is needed we’ll arrange it straight away. An assessor will contact you very quickly.

    Call us on 0800 800 800 and speak to one of our friendly and knowledgeable staff.

    Important information you need to know

    • First and foremost make sure you and your family are safe.
    • Make sure you take reasonable precautions to prevent any further loss or damage (such as if one car window is smashed, park it up against a wall so that it is difficult for someone else to enter through it).
    • Please don’t spend any money on repairs or replacement without talking to us first. If it’s an emergency, go ahead, but keep any receipts to claim a reimbursement.
    • Please phone us on 0800 800 800 as soon as possible if you receive documents from anyone else about your claim.
    • If you may have caused damage to someone else's property, please don’t admit you are at fault. Simply say you need to speak to your insurer and phone us on 0800 800 800.
    • Contact the police immediately if the loss or damage was caused by an illegal act.

Ready for a quote?

Call 0800 800 800


© IAG New Zealand Limited Privacy Policy Terms of Use

Lantern Insurance is a business division of IAG New Zealand Ltd

For a complete description of your cover, please refer to your policy wording, policy schedule and any other relevant policy documents.
This information is a general guide only and is not necessarily complete. We reserve the right to change, update or correct any information from time to time without notice.