Mortgage protection insurance NZ
Cover your mortgage repayments if you can't work. Compare options from NZ's top insurers.
Get my free mortgage protection quoteWhat is mortgage protection?
Mortgage protection covers your home loan repayments (or a set monthly amount) if you can't work because of illness, injury, or redundancy. It's designed to keep a roof over your head while you focus on getting back on your feet. Some policies also pay out a lump sum on death to clear the mortgage entirely.
Why Kiwis get mortgage protection
Keep the home
Don't risk a forced sale.
Bridge the income gap
ACC may not cover illness.
Peace of mind
Sleep at night knowing the biggest bill is sorted.
First home buyer safety net
Especially powerful for new homeowners.
What's typically included
- Monthly benefit matching your mortgage repayments
- Payments during illness or injury
- Optional redundancy cover
- Sometimes paired with life insurance for lump sum payout on death
Things to think about
Mortgage protection vs income protection
Income protection covers more, mortgage protection is often cheaper.
Stepped vs level premiums
Same trade-off as life insurance.
Cover term
Match it to your mortgage term.
Existing income protection
Don't double up unnecessarily.
How NZQuoteCompare helps
Our adviser panel compares mortgage protection across NZ's top insurers and helps you weigh it against income protection to find the cover that fits your repayments and budget.
Get my free comparisonFAQ
Common questions
They cover different things. Life insurance pays out on death; mortgage protection pays your repayments while you're alive but unable to work. Many Kiwis have both.
Some policies include optional redundancy cover. Conditions, waiting periods, and exclusions vary.
Premiums are generally not tax deductible for personal mortgage protection. Speak with a tax professional about your situation.
You may need to adjust the cover amount. An adviser can help you review your policy when your mortgage changes.
Income protection generally provides broader, larger benefits. Mortgage protection is more targeted and often cheaper. The right answer depends on your situation — an adviser will help you compare.
This page is general information only and not financial advice. Speak with a licensed adviser for advice tailored to your situation.