How comparing could save you money on insurance

Family in front of cardboard home and car

In today's increasingly expensive world, every dollar saved counts. As the cost of living seems to climb higher every year, it becomes essential to find ways to cut back on unnecessary expenses. One area where money-savvy Aussies could save is insurance. 

With insurance premiums on the rise over the past few years, it pays to compare different insurance providers and policies, whether it be for home, life, car or even pet insurance - after all, insuring the things most important to us, is often a non-negotiable.

Home insurance

With the value of properties and the potential risks associated with homeownership constantly evolving, the need for appropriate coverage is more important than ever. 

Factors such as the property's location, previous claim history, and personal circumstances can all affect the cost of home insurance premiums. By comparing home insurance policies from different insurers, homeowners find a policy that meets their specific needs while offering competitive rates.

Life insurance

Life insurance is an essential safeguard for loved ones in the event of an unexpected tragedy. However, premiums for this coverage can vary significantly between companies. 

By comparing policies, individuals can identify the best coverage for their unique circumstances at the most competitive rates. This can result in substantial savings over the life of the policy.

Car insurance

Car insurance is a necessity for all vehicle owners, but it doesn't have to break the bank. Factors such as the type of vehicle, driving history, and location can all influence premium amounts. Comparing quotes from several providers can ensure that individuals secure the right coverage at affordable rates, potentially saving substantial amounts each year.

Pet insurance

Pet insurance is becoming increasingly popular as pet owners recognise the need for proper healthcare coverage for their furry friends. As vet bills continue to rise, choosing the right pet insurance policy is crucial to avoid excessive expenses.

With options ranging from routine care coverage to comprehensive plans, shopping around ensures that pet owners can access the best care for their pets without paying too much.

5 important things to consider when it comes to insurance:

1. Shop around: Obtain quotes from multiple insurers to compare premiums and coverage options.

2. Assess coverage needs: Determine what coverage is necessary and avoid paying for unnecessary add-ons.

3. Review deductibles and limits: Choosing a higher deductible can lower premiums, but could cost you when it comes time to make a claim. Keep this in mind when picking your policy. 

4. Bundle policies: Many insurers offer discounts when combining multiple policies, such as home and car insurance.

5. Review and update policies regularly: Life circumstances change, and policies may need adjusting to ensure they meet your current needs.

Compare home insurance, car insurance, life insurance and pet insurance and see how much you could save by switching.

Top Home Insurance

QBE Home & Contents Insurance***
  • 10% online policy discount (T&Cs)
  • Up to $30 million legal liability cover (T&Cs)

QBE Home and Contents Insurance can cover your property and belongings in case of fire, storm damage, theft and more. 24/7 friendly and helpful claims service. It comes with up to $30 million legal liability cover and you’ll receive temporary accommodation costs for up to two years if your home isn’t liveable (eligibility criteria applies). New policies purchased only could receive a 10% discount (with conditions).

Top Car Insurance

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

Budget Direct's top-value Gold Comprehensive Car Insurance policy offers 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 new-for-old car replacement and the option to choose your own repairer after an insurable event. And don’t forget the feel-good bonus of a 15% discount when you buy the policy online (T&Cs apply).

Top Life Insurance

NobleOak Life Insurance**
  • Lump sum cover available up to $15,000,000 if you pass away or are diagnosed with a terminal Illness
  • Funeral Advance Benefit of $15,000

NobleOak has helped protect Australians for over 140 years and has been crowned Life Insurance Provider of the Year by our experts after taking home seven trophies in the Mozo Experts Choice Life Insurance Awards.^ NobleOak are known for their extensive policy coverage and features which come with competitive premiums. You can attain cover if you are aged between 16 and 69, with renewal available up to age 99. Get 2 months free when you apply for one or more life insurance cover types available under Premium Life Direct (T&Cs apply).

Top Pet Insurance

Pet Insurance Australia Pet Essentials**
  • $1,000 annual condition limit
  • 90% of eligible vet bills covered

Pet Insurance Australia’s Pet Essentials policy comes with no waiting periods for accidental injuries as well as an incremental 5% multi-pet discount, up to 15% (or three pets on one policy). It has an annual benefit limit of $6,000, cover for up to 90% of eligible vet bills (for pets under eight years old), up to $500 cover for emergency boarding fees and more.

* 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