Now in their sixth year, the Mozo Experts Choice Awards provide a platform to highlight products in the marketplace we believe offer great value to Australians.
For the 2019 Landlord Insurance awards, the Mozo Experts turned their attention to finding the best policies, collecting pricing for 35 landlord insurance policies.
“Whether you’ve just started your ascent up the property ladder, or you’re an experienced home investor, life as a landlord can have its own set of difficulties,” said Mozo Experts Choice Awards judge Peter Marshall.
“So, it’s more crucial than ever to compare the offers that are out there, especially with all the risks that come with renting a property and handing over your keys to a stranger.”
For details on how we crunched the numbers and determined the award winners see our methodology report or get more info about our judging criteria and read our FAQs.
With wins in all three Exceptional Value categories, Budget Direct have been crowned our Insurer of the Year for Landlord, Car and Home insurances for 2019. We found their policies delivered consistently low prices, while maintaining solid cover limits.
The value assessment was based on tens of thousands of quotes, covering a wide range of different customer situations. We found that Australians are more likely to find Budget Direct among the cheapest quotes for their needs, than any other insurer.
Those who received an Exceptional Value award had landlord insurance policies that are among the best value for the cover they offer.
Balancing expenses with income from an investment property is often a tricky puzzle. Using 2,000 customer quotes across 32 landlord insurance providers, we identified the policies that reliably offered low premium prices without sacrificing cover.
AAMI - Landlord Insurance
Allianz - Landlord Insurance
Budget Direct - Landlord Insurance
Woolworths - Landlords Insurance
Those who received an Exceptional Quality award were recognised for premium landlord insurance products that offer the very highest levels of protection and benefits. We compared a vast array of features including the generosity of cover limits, and policy exclusions.
For landlord buildings and contents insurance, our quality award highlights the four policies that score highest of the 35 policies assessed. This assessment is weighted towards cover for loss of rent, acts of tenants and legal liability, but also considers various other events, covers and options.
ANZ - Landlord Insurance
CommInsure - Investment Home Package
GIO - Landlord Insurance
Westpac - Quality Care Landlord Insurance
What’s the Judging Criteria for the awards?
Running since 2014, the Mozo Experts Choice Awards recognise products that deliver exceptional value or benefits to consumers.
See our methodology report for more detailed information on how we performed the price comparisons and determined the final winners list for the landlord insurance awards.
Did you compare all landlord insurance policies in the market for these awards?
We collected pricing and cover information for 35 different landlord insurance policies. The information collection was conducted in July and August, 2019. To be considered for inclusion in these awards, all information considered must be readily available on the insurer’s website and the policy available to the general public without being a previously established member or customer. Products are considered and awards are made irrespective of a product provider’s commercial relationship with Mozo. We aim to include most providers in the market in the Mozo Experts Choice Awards. However, not every product in the market will be included in our review.
How do I find the cheapest landlord insurance policy for my property?
You’ll want to check out the winners in the Exceptional Value categories. Our Experts crunched the data on a range of customer scenarios and these were the insurers and policies that were great value when compared to similar products.
It’s important to understand that several factors go into determining the cost of landlord insurance, such as property type, location, construction materials and size. So, you’ll still need to do some comparing of features and options to find a policy that is right for you and then get quotes, so that you can compare the pricing.
What product features or benefits did you consider for the Exceptional Quality Awards?
Our assessment of Quality is based on how well the product scores on a large range of different factors, including the nature and extent of the insurance cover, and the inclusion of added benefits. Overall results are weighted towards legal liability cover, loss of rent protections and tenant default, theft or vandalism. The full list of factors considered is included in our methodology report. We relied on product information in each insurer’s product disclosure statements, and on their websites, to assess cover and benefits.
Who are Mozo’s experts?
The Mozo Experts Choice Awards analysis is overseen by AJ Duncanson, Mozo’s Data Services Director. AJ is a data scientist and actuary, and has worked in financial services and product comparison for almost three decades. Together with our Product Data Manager, Peter Marshall, the team has over 50 years of financial services experience.
I work for an insurer, how do we promote our win?
Please get in touch with us to discuss by emailing or phoning our account management team on 02 9037 4368.