Insurance reset: New players deliver novel ways to save
If you've noticed your car, home or pet insurance seems more expensive than it used to be, you're not alone. Floods, supply chain shortages and other woes are driving up the cost of our insurance policy premiums in much the same way as we're all paying more at the petrol pump and supermarket checkout.
So it comes as welcome news that a wave of innovative new insurance players have opened their doors in Australia in a bid to shake up the industry and offer customers better value.
Qantas has launched Australia's only home insurance with Qantas points, while Honey home insurance gives policy holders free smart home sensors (worth $250) to help prevent potential fire, theft and water damage, and annual premium discounts for keeping your sensors active.
Car insurance is also getting a shake up, with new innovative pay-as-you-go players like Huddle and Rollin' seeking to help Aussies drive down the cost of their premiums.
Pet insurance too has seen an influx of new players, like popular insurance brand Budget Direct which now provides affordable quality cover for your furry friends with 15% off your first year’s premium when you buy online.
1. Get Qantas Points with your home insurance
Qantas Home & Contents Insurance*
- Up to 20,000 Qantas Points for joining
- 15% new combined home & contents policy discount
Qantas flies high with this home and contents insurance policy, offering a 15% combined policy discount and up to 20,000 Qantas Points for joining (t&cs apply). Policy holders can also earn 1 Qantas point per dollar spent on their premium and up to 2,600 points a year by using the Qantas Wellbeing app to do little regular wellness checks like clearing your gutters clear or meeting your step goals.
2. Lower your home insurance costs with smart technology
Honey Home & Contents Insurance*
- Get free smart sensors worth $250 to help prevent fire, theft and water damage
- Be rewarded with policy discounts of up to 8% every year
The biggest draw of new home insurance provider Honey is its digital innovation. By using technology like AI, Honey says it insures customers in as little as three minutes. It also offers smart sensors valued up to $250 into your home, which could lower your premiums with a discount of up to 8% every year. These sensors monitor for preventable claim incidents like theft, fire, and water damage, then send alerts straight to your smartphone.
3. Pay as you drive to save up to 30% on car insurance
Huddle - Comprehensive Car Insurance*
- Pay per kilometre and save when you drive less
- 24/7 claims lodgement and new-for-old replacement (under 2 years)
If like many Aussies you're driving less than you used to, this new pay as you drive comprehensive car insurance could save you a bundle. With Huddle, you simply choose the kilometres you think you'll drive this year and buy more kms later if you need them. If you drive less than 15,000 km a year, Huddle's Pay As You Drive Cover could save you up to 30% compared to their regular comprehensive cover. With all this on offer, it's little wonder Huddle won a Mozo Experts Choice Award for Exceptional Value Car Insurance in 2021^.
4. Pay car insurance month-to-month, no cancellation fees
Comprehensive Car Insurance*
- Pay month-to-month, like a subscription, without cancellation fees
- Mozo Experts Choice Exceptional Value Car Insurance Award Winner 2021^
ROLLiN' is shaking up car insurance with a new pay-as-you-go approach that lets you pay month-to-month without any lock-ins or cancellation fees. So if you don't need to drive for a certain amount of time, you can simply cancel your cover without penalty and pick it back up when required. You'll enjoy 24/7 online claims support and a lifetime guarantee on authorised repairs, plus if you accidentally damage your windscreen, sunroof or window glass, ROLLiN' will fix them for free!
5. Buy Pet Insurance online and get a discount
Budget Direct Budget Direct Pet Insurance*
- Get 15% off your first year’s premium for policies purchased online
- Your choice of qualified & registered vet
Budget Direct offers pet insurance for your dog or cat which covers them for both accidental injury or illness, including all orthopaedic conditions. Budget Direct covers up to 80% of the cost of eligible vet expenses, and you don’t have to worry about which vet to take your pet if they get ill or injured, as you can use any qualified and registered vet in Australia. Plus, you can get a 15% discount on your first year’s premium when you purchase a new policy online (T&Cs apply).
* 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