Coles and Woolies come out on top in low cost home insurance awards

Mozo’s recent Experts Choice Home Insurance Awards have revealed that when it comes to low cost home insurance our major supermarkets are holding their own, with Coles and Woolies taking out two top gongs apiece.

Renters on a tight budget might like the look of a Coles insurance policy, after it picked up an award for Low Cost Contents Insurance. It also won for Exceptional Value Home Building Insurance, for those property owners who want a step up in coverage, while keeping premiums affordable.

Woolworths took out awards for both Low Cost Home and Contents and Low Cost Building Insurance, making it a good pick for homeowners looking to insure their home and everything in it, without breaking the bank.

Mozo Data Manager Peter Marshall said the Award results showed that Coles and Woolworths are living up to their promise of budget-friendly financial products.

“When it comes to insurance, Coles and Woolies have both built their brands on the idea of being “cheap and cheerful” - good for the everyday Aussie - and now we’re seeing the numbers back that up. Supermarket insurance is effectively putting its money where its mouth is,” he said.

In the Exceptional Value category, where Coles’ Home Building Insurance was a winner, Mozo’s experts compared 35 home insurers to identify the best-priced policies for the features on offer.

“For these Awards, we ran the numbers in over 19,000 possible home insurance scenarios to work out which products would be the cheapest while still meeting a given level of cover,” explained Marshall.

The Low Cost category, which three out of four of the supermarket insurance wins fell under, is designed to recognise the most price-conscious policies.

“When it comes to buying insurance, it really is a personal choice in terms of how much cover you need and how much you’re willing to pay for it,” said Marshall.

“Our Experts Choice Awards were split into different categories to help people find the right policy for their needs. And if you’re after cost-effective coverage, turning to your local Coles or Woolies may be the right choice.”

If you’re in the market for a home insurance policy, head over to take a look at the complete list of Experts Choice Home Insurance winners and pick out a policy that suits your needs.