Australia’s best insurance of 2021

Family in car

Insurance is a vital product, but despite its importance it is an area many people put-off properly investigating. This could be because choosing the right insurance products can often be a complicated process. 

It's also not the most enjoyable topic to think about. Once you've trawled through the fine print of multiple insurance options and finally picked the best insurance policy to suit you, it involves forking out cash just in case you find yourself, your belongings or your loved ones in an emergency situation. 

This year, close to 200 policies spanning car, home, landlord, life and pet insurance were analysed by the Mozo judges to identify the best value and best quality insurance policies on the market. 

We've jotted down the details of a few standout policies which have won awards in 2021 for you to compare and consider here.

Best Car Insurance

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Budget Direct Gold Comprehensive Car Insurance*
  • 15% buy online discount on your first annual premium
  • Your choice of repairer

For the third year in a row, Budget Direct has taken out top honours as on of Mozo's Insurance Provider of the Year, this time in the value category^. The top-value insurance company provides flexible comprehensive car insurance, with the Gold Comprehensive Car Insurance policy offering up to $500 of personal property covered, a separate $500 for covering baby capsules and another $1,000 to replace car keys and locks, plus the option to choose your own repairer after an insurable event. 

If you get into a scrape and your wheels are written off, Budget Direct will replace your car with a new comparable ride (as long as it was less than two years old and had driven under 40,000km). And don’t forget the feel-good bonus of a 15% discount if you buy the policy online.

Huddle Comprehensive Car Insurance*
  • Pay-per-km policy option
  • 24/7 online claims and policy management
Find out more

Huddle offers a range of great money saving features. For example, if you drive under 15,000km a year, Huddle offers up to a 30% discount on yearly premiums. In 2021, this flexible policy earned a specialised award in the Exceptional Value Senior Driver Insurance category.

It covers $500 of personal property and up to $1,000 to replace stolen locks and keys. And if you are more than 200km from home, there's $500 to cover travel and accommodation costs after an accident, as well as reasonable towing. And if your car is written-off Huddle will replace it with a brand new one (if the car is under two years old and you're the original registered owner).

Best Pet Insurance

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Knose Pet Insurance*
  • Annual benefit limit of $25,000 for accident and injury cover
  • Flexibility to have between 70% and 90% of eligible claims covered

Knose Pet Insurance has been crowned the 2021 Mozo Experts Choice Awards Pet Insurance Provider of the Year^. Its single, flexible policy may cover up to $25,000 each year in treatments for eligible accidents and injuries, with the option to have 70%, 80% or 90% of eligible claims covered by the policy. You’ll be able to make your claims online or through your vet, and can include optional extras (for an increased premium) to cover things such as dental illness, behavioural problems and alternative therapies like acupuncture and physiotherapy.

But not all vet costs are covered, some of which include treatments for pre-existing conditions you knew about before you signed your pet up with Knose, preventative care such as desexing, unregistered medication and costs after a pet’s death. There’s no excess to pay when you make a claim with Knose, and waiting periods can range from one day to six months, depending on the claim type. You’ll also get a 30-day cooling off period when you take out a policy with Knose.

Pet Insurance Australia Major Medical Cover*
  • Offers annual benefit limit up to $15,145 for accident and injury cover
  • Covers up to 80% of vet bill claims

This long standing provider has taken home the Mozo Experts Choice Award^ for Exceptional Value Comprehensive Pet Insurance for its Major Medical Cover alongside a value award for its Comprehensive Cover. As its premium policy, a Major Medical plan with Pet Insurance Australia covers up to $15,145 annually for specific accidents, injuries and routine care cover. You may be able to claim up to 80% of eligible vet bills, but it does not cover certain costs like pre-existing conditions your pet had before signing up with Pet Insurance Australia (some conditions are eligible for review after an 18-month period). 

Under the Major Medical Cover, you could get up to $1,200 towards tick paralysis and up to $300 for consultations and visits. Additional benefits include up to $1,200 for emergency pet boarding fees if you are hospitalised for more than 5 days or due to family violence. Waiting periods may range from zero days to six months depending on the claim type, and there’s also a 21-day cooling off period when you take out a policy. And as an added bonus, you can get a premium discount from 5% and it incrementally increases up to maximum of 15% discount for each pet that is insured.

Best Life Insurance

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NobleOak Life Insurance*
  • Comprehensive cover up to $15,000,000 + Funeral Advance Benefit of $15,000
  • Process claims within 5 business days on average

NobleOak has more than 140 years experience in the insurance game and has been crowned Life Insurance Provider of the Year by our experts after taking home seven trophies in the latest Mozo Experts Choice Life Insurance Awards^ and appearing in every single award category.

These life insurance pros are known for their extensive policy coverage and features which come at an affordable price. You can start your cover aged between 16 and 69, with guaranteed renewal up to 99 on up to $15 million in coverage (with higher levels of cover considered on request).

NobleOak Premium Life Direct Income Protection Insurance*
  • Insure up to 70% of your pre-tax income (up to $30,000 per month)
  • Protect your income up to age 65

NobleOak’s Premium Life Direct Income Protection Insurance gives you peace of mind with regular payments for a specified period helping you replace some of your income when you can’t work due to serious illness or injury.

With this policy you can choose either a 30 or 90 day waiting period, a benefit period of 2 years, 5 years or to age 65, plus there’s a generous maximum cover benefit of up to $30,000 per month (up to 70% of your pre-tax income).

Best Home Insurance

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Budget Direct Home & Contents Insurance*
  • 30% combined apply online discount for your first year's premium
  • New-for-old contents replacement cover

Are you looking for extensive protection for your home and belongings at an affordable price? Then you’ve come to the right place, as Budget Direct is Mozo’s Value Insurance Provider of the Year^. 

This comprehensive home and contents insurance policy offers an impressive list of extra features like new-for-old contents replacement, cover for portable items, and emergency accommodation for up to 12 months (or 10% of the sum insured) for you and your pets. You’ll be protected against a range of natural disasters and there’s a heap of contents included – just check your product disclosure statement (PDS) for limits on specific items. And if you're after combined home and contents cover, you’ll score a 30% discount on your first year’s premium just by purchasing a new policy online. Too easy.

Head to the Mozo Experts Choice Awards page to learn more about the winners and judging process for the latest Mozo Experts Choice Insurance Awards.


* Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.

^See information about the Mozo Experts Choice Car Insurance Awards