Covi Insurance

What Covi Insurance does

Covi Insurance Limited is a New Zealand-domiciled specialist RV (recreational vehicle) insurance intermediary operating as the exclusive insurance scheme of the New Zealand Motor Caravan Association (NZMCA). The company insures motorhomes, caravans, 5th wheels, horse trucks, slide-on campers, and private motor vehicles, with product differentiation centred on 5-year Agreed Value coverage, $10,000 automatic RV contents cover, fixtures/fittings protection, no-excess glass for vehicles under $400,000, and towing following mechanical breakdown.

The business does not bear underwriting risk on its own balance sheet; RV policies are underwritten by NZI and private motor vehicle policies by Lumley, both divisions of IAG New Zealand Limited (Standard & Poor's AA rated). Covi's revenue is therefore commission- and fee-based on the premium book it distributes, supplemented by an optional Wings Roadside breakdown add-on, a paid Online Valuation Service ($50/$100), and the Covi Advantage discount ecosystem.

Distribution is direct and phone-led (0800 805 965 inside sales plus online quote capture), with the NZMCA membership channel acting as the primary top-of-funnel source. The company reinforces acquisition through event marketing (Covi SuperShow, NZMCA Motorhome Caravan & Leisure Show) and a partner discount network spanning SealX, Masport, Oztent, Nutshell, Kakapo Linen, and RnR Publishing. Operations are run from a single Auckland headquarters (Greenlane) with a small staff and no disclosed proprietary technology.

Name

Covi Insurance

Legal name

Covi Insurance Limited

Website

https://covi.co.nz

Company type

Private

Founded year

1958

Operating status

Operating

Headcount range

1–10 employees

Short description

Covi Insurance is a New Zealand specialist RV insurance intermediary serving NZMCA members, underwriting motorhomes, caravans, 5th wheels, horse trucks, slide-ons, and private motor vehicles through IAG subsidiaries via direct phone and online distribution.

Ownership category

akta.pro rank

Product category

Specialist RV Insurance

NAICS

Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Commercial Auto & Fleet Insurance (FSAJAMAB)

Keywords

• RV insurance
• Motorhome insurance
• Caravan insurance
• Recreational vehicle coverage
• Agreed value insurance

Headquarters

HQ city

Auckland

HQ country

New Zealand

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations, Others, Infrastructure

Revenue model

1. RV Insurance Premiums: Covi generates revenue through insurance premiums charged to policyholders for coverage of motorhomes, caravans, 5th wheels, horse trucks, slide-ons, and private motor vehicles. Premiums are collected either as lump-sum annual payments or monthly instalments.
2. Wings Roadside Assistance: Optional roadside assistance add-on to standard insurance policies, providing 24/7 breakdown coverage for vehicles.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

Covi Insurance is a specialist RV insurance provider in New Zealand offering motorhome, caravan, 5th wheel, horse truck, slide-on, and private motor vehicle insurance policies, underwritten by NZI and Lumley (divisions of IAG New Zealand). The company operates as the official insurance scheme of NZMCA, designed by members for members, and packages its policies with optional Wings Roadside assistance, an online valuation service, and dedicated claims processing. Customers obtain quotes via phone or online form and receive cover with terms such as Agreed Value coverage for five years, RV-specific contents cover, and towing/glass/key benefits.

Product overview

Covi NZMCA Insurance is a specialist RV (Recreational Vehicle) insurance provider offering a comprehensive suite of insurance products designed by NZMCA members for NZMCA members. The core portfolio includes Motorhome Insurance, Caravan Insurance, 5th Wheel Insurance, Horse Truck Insurance, Slide on Insurance, and Private Motor Vehicle Insurance. The company differentiates through its Agreed Value coverage for up to five years. Supporting services include Wings Roadside (optional roadside assistance add-on), an Online Valuation Service ($50 for members/$100 for non-members), Contents Cover Insurance with $10,000 automatic RV-specific contents coverage, Covi Advantage discount programme, and Online Claims Processing. The company was founded in 1958 as the NZMCA insurance scheme and is the only insurance provider to return money into the RV industry. Policies are underwritten by NZI and Lumley, divisions of IAG New Zealand Limited, which holds a Standard & Poor's AA financial strength rating.

Differentiator

Problem solved

Functional benefit

Products and services

• Motorhome Insurance Specialist motorhome insurance designed by NZMCA members for NZMCA members, offering comprehensive RV coverage with agreed value, towing, and fixtures cover for motorhome owners.
• Caravan Insurance Specialist caravan insurance designed by NZMCA members, providing comprehensive cover for caravan owners.
• 5th Wheel Insurance Specialist 5th wheeler insurance offering agreed value for five years, towing costs up to $500, window glass with no excess for vehicles under $400,000, keys and locks up to $5,000, and RV-specific contents up to $10,000.
• Horse Truck Insurance Specialist horse truck insurance with fuel protection covering up to $10,000 for accidental loss to vehicle if emission control system is affected by fuel or fuel additives.
• Slide on Insurance Insurance coverage for slide-on units, a type of RV that slides onto a vehicle chassis.
• Private Motor Vehicle Insurance Private motor vehicle policy underwritten by Lumley, a business division of IAG New Zealand Limited, providing comprehensive vehicle coverage for non-RV vehicles.
• Wings Roadside Optional roadside assistance add-on providing 24-hour, 365-day emergency support throughout New Zealand, including towing following mechanical breakdown up to $500 less $100 excess.
• Online Valuation Service Online valuation service for NZMCA members ($50) and non-members ($100), providing written valuations for Covi Insurance purposes, completed by Kerry L Congdon & Assoc.
• Covi Advantage Exclusive discount programme partnering with industry businesses to offer Covi clients discounts on products and services including SealX applications, RV-NZToday magazine subscription, Masport BBQs, Oztent outdoor products, Nutshell phone holsters, and Kakapo Linen.

Quantifiable outcome

• Agreed value coverage for five years based on purchase price or valuation
• +4 more outcomes

Named customers3 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eleven partnerships are on record, tiered core, preferred and minor.

• NZMCA (New Zealand Motor Caravan Association)coreStrategic or Co-development Partner · 1 January 1958The foundational partnership since 1958. NZMCA represents private motor caravan owners in New Zealand. Covi is the official insurance scheme of NZMCA, designed by members for members. The partnership enables Covi to serve the NZMCA's member base and contributes money back into the RV industry through NZMCA parks, dump stations, and member benefits.
• NZI Insurance (IAG New Zealand)coreOthersNZI, a business division of IAG New Zealand Limited, underwrites Covi's policies. IAG has received a financial strength rating of AA from Standard & Poor's, indicating very strong claims-paying ability.
• Lumley (IAG New Zealand)coreOthersLumley, a business division of IAG New Zealand Limited, underwrites Covi's private motor vehicle policies. Shares the same AA financial strength rating from Standard & Poor's.
• Novus GlasspreferredTechnology or IntegrationPreferred glass repair supplier for windscreen claims. Policy number 6000152770 for booking. Contact via novus.co.nz or 0800 20 35 35.
• Approved Valuers NetworkcoreOthersNational network of motorhome and caravan professionals including Motorhub, Levin RV Centre, RV Masters, Nationwide RV, Jayco, Wilderness Motorhomes, and others who provide vehicle valuations for insurance purposes.
• SealXminorGTM or Marketing PartnerRV protection product partner. Covi customers receive up to 10% off all SealX applications. SealX products clean, restore and protect RV fibreglass, paint, glass, leather and vinyl against UV damage.
• RnR PublishingminorGTM or Marketing PartnerPublisher of RV-NZToday Lifestyle and NZ Classic Driver Magazine. Covi customers save $50, paying just $40 for an 18-month subscription (RRP $90).
• MasportminorGTM or Marketing PartnerOutdoor equipment manufacturer (established 1910). Covi customers receive 5% discount on Masport's Ziegler and Brown portable BBQs.
• OztentminorGTM or Marketing PartnerOutdoor adventure products manufacturer. Covi customers receive 10% discount across the entire Oztent range.
• NutshellminorGTM or Marketing PartnerNZ-made premium leather smartphone holsters. Covi customers receive 15% discount on holsters with 12-month warranty.
• Kakapo LinenminorGTM or Marketing PartnerCustom designed, handmade linen for caravans, motorhomes, boats. Covi customers receive exclusive discounts.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Progressive: Progressive is a large US personal-lines insurer that offers motorhome and RV cover alongside standard auto. Comparable as a broad incumbent that has chosen to enter the RV niche, demonstrating how a generalist could attack Covi's specialist position.
• IAG New Zealand: IAG NZ is the parent group of Covi's underwriters (NZI, Lumley, AMI) and a broad incumbent across NZ personal and commercial lines. Comparable as the dominant NZ insurance group whose strategic decisions directly shape Covi's economics and could eventually bypass the Covi intermediary.

Direct peers

• Tower Insurance: Tower is a long-standing NZ general insurer with motor, home and contents products. Comparable as a direct competitor for NZ consumer insurance, including motor vehicles that overlap Covi's private motor vehicle line.
• NZI Insurance: NZI is one of Covi's two underwriting partners (an IAG New Zealand division) selling motor and commercial insurance across NZ. Highly comparable because it underwrites Covi's RV policies and competes in the same NZ personal-lines vehicle insurance market.
• AMI Insurance: AMI is another IAG New Zealand brand selling personal motor and home insurance in NZ. Comparable as a same-group insurer with overlapping motor vehicle offerings and a similar NZ retail distribution model.
• AA Insurance New Zealand: AA Insurance is a major NZ personal-lines insurer with a strong focus on private motor vehicle cover. Directly comparable because it competes with Covi for NZ consumer vehicle insurance dollars, including among RV-adjacent customers.
• State Insurance: State Insurance is an established NZ general insurer offering motor vehicle and home cover to consumers. Comparable because it targets the same NZ personal-lines market with overlapping motor insurance products.
• Lumley: Lumley is Covi's other underwriting partner (also an IAG NZ division) and writes Covi's private motor vehicle policies. Directly comparable as a co-underwriter and a competitor for NZ consumer motor insurance.

Emerging players

• Good Sam Insurance: Good Sam is a US/Canada specialist in RV and recreational vehicle insurance tied to a member community. Comparable because it pairs RV-specialist cover with a captive enthusiast membership base — analogous to Covi's NZMCA model, though in a different geography.

Regional players

• FMG (Farmers' Mutual Group): FMG is a NZ mutual insurer focused on rural and lifestyle customers, including motor vehicle cover. Comparable in target customer (lifestyle/leisure vehicle owners) and NZ geographic footprint, though it does not specialize in RVs.

Market position

Strengths4 records

Weaknesses4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/CoviNZMCA
• LinkedInlinkedin.com/company/covi-insurance

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Covi Insurance