Australia’s best insurance of 2020

Olivia Gee

24 Sep 2020

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Insurance is a vital product, but despite its importance it is an area that Aussies sometimes avoid. Choosing the right insurance can be a complicated process, and once you've picked a policy It involves forking out cash just in case you find yourself, your belongings or your loved ones in an emergency situation. 

It’s not a nice thought but it is necessary if you want to be supported financially if the worst were to happen. Mozo regularly investigates and reports on the variety of insurance products on the market, from car insurance to home and contents cover, life insurance and even insurance policies for your pets.

Every year, the experts at Mozo compare and analyse these options for the Mozo Experts Choice Awards. This year, the Mozo judges analysed close to 200 policies spanning car, home, landlord, life and pet insurance to identify the best value and best quality insurance policies on the market.

So, if you’re looking to get your insurance sorted, take a look at some of the standout Mozo Experts Choice Insurance Awards winners for 2020.....

Best Car Insurance

Promoted

Budget Direct Comprehensive Car Insurance
  • 15% buy online discount

  • Your choice of repairer

For the second year in a row, Budget Direct has taken out top honours as Insurer of the Year, this time in the value category. The consistently affordable insurer provides flexible comprehensive car insurance, with up to $500 of personal property covered, another $1,000 to replace car keys and locks, and 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 feelgood bonus of a 15% discount if you buy the policy online.

Promoted

Woolworths Comprehensive Car Insurance
  • Pay Less, Drive Less policy option

  • New-for-old car replacement

You’ll find all kinds of cost-effective inclusions in this comprehensive policy, and can feel secure knowing you're covered in the case of emergencies. Woolworths offers $500 in emergency repairs without assessment, reasonable towing costs after a breakdown, and up to $500 for accommodation or travel if you’re stuck 200km or more from home. You’ll also get new-for-old replacement if your car is under two years old and deemed a write-off. 

Simply by applying online, you can score up to 15% off your first year’s premium, plus you can opt for the pay-as-you-drive cover. This means those who don’t drive often can elect a low kilometre limit and be rewarded with a premium reduction.

Promoted

Youi Comprehensive Car Insurance
  • Roadside assistance included

  • $1,000 emergency travel and accommodation cover

Youi’s comprehensive policy includes those sought-after flexible features and dedicated services at a price that won’t wreak havoc on your budget. If you’ve got a new set of wheels that get written-off in an accident, Youi can offer new-for-old car replacement (if your vehicle is under two years old and has travelled less than 40,000km).

Having the ability to choose your own excess means you can tailor the policy to better suit your budget, and having roadside assistance included as standard means you won’t have to worry about that additional cost. There’s also a 24/7 claims service to help whenever you’re in a pickle.

Best Home Insurance

Promoted

Westpac Premier Care Residential
  • Enjoy the benefits of multiple discounts

  • Get new for old replacement

This great value policy protects your home and belongings against damage caused from natural disasters like fire, theft, storms, flooding and even more.  There are three levels of cover to choose from, Essential, Quality and Premier. And two of those categories even managed to score awards in this year’s Mozo Experts Choice Awards for 2020.

Westpac cover comes with an automatic safety net in case repair or replacement costs are higher than expected. Together with hand flexible repayment options and a 24/7 claims support centre to support you every step of the way, you’ll even save up to 25% when you quote and buy Home and Contents Insurance online with Westpac.

Promoted

Budget Direct Home & Contents Insurance
  • 30% combined apply online discount

  • New-for-old 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 2020 Value Insurer 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.

If you are 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.

Best Life Insurance

Promoted

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 have been crowned Life Insurer of the Year for 2020. The provider cleaned up at the 2020 Mozo Experts Choice Life Insurance Awards, taking home seven trophies 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). 

Promoted

Insure Me Now Life Insurance
  • Apply for up to $1,500,000 Life Cover with our online application process

  • No medicals or blood tests required

Insure Me Now focus on providing life insurance policies which are easy to understand and affordable for every budget. In the 2020 Mozo Expert Choice Awards, this Sydney-based provider took out three wins for their top value offering.

Key policy features include a lump sum payment of between $100,000 to $1.5 million paid to your beneficiary, plus a $10,000 funeral advance out of that amount to cover immediate costs so your loved ones don’t have to face any financial stress.

Head to the Mozo Experts Choice Awards page to learn more about the judging process and the winners in other product categories.

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