Westpac takes home multiple insurance awards in 2020

By Olivia Gee ·
Family on a lounge looking at home insurance online

It can be a bit of a drag when your insurance renewal rolls around for another year and yet again you haven’t needed to make a claim. But that’s the thing about having insurance: you hope for the best but are prepared for the worst. Future you will be grateful you played it safe.

Mozo’s aim in the insurance game is to help ease the financial strain of maintaining your cover by helping you find a top value-for-money policy. We also try to help simplify the process of taking out a policy which suits your needs.

In pursuit of these goals, Mozo analyses what’s on offer in the insurance world each year in the Mozo Experts Choice Awards. In 2020, the expert judges were on the hunt for the best value and highest quality home and contents insurance.

In both regards, Westpac’s Home & Contents Insurance was a stand-out performer. Its Premier Care tier – Westpac’s highest grade of home and contents insurance – was awarded in the Exceptional Value and Exceptional Quality award categories, with the standard Essential Care option also taking home a value award.

When considering value, Mozo’s expert judges assessed the policies in terms of the level of cover offered at a more affordable price compared to others in the market. When they assessed quality, the judges were on the lookout for even more generous or extensive policy features.

Read on to learn more about Westpac’s winning cover.

Westpac Home & Contents Insurance
  • Numerous discounts
  • New-for-old contents cover
  • Underinsurance protection

Westpac’s home and contents insurance offers three levels of cover to choose from. The basic level (Essential Care) and the top-tier product (Premier Care) both won gold in the 2020 Mozo Experts Choice Awards.

While each option comes with different levels of coverage for your belongings and the structure of your home, there are medal-worthy features across the board. In addition to cover for damages caused by storm, fire, flooding and theft, the policy will ensure any belongings damaged beyond repair are replaced with comparable new items.

Underinsurance is also included in both levels (up to 30% of the sum insured for Premier, and up to 10% for Essential). This means if you undervalue your property initially, Westpac will give you extra leeway for covering repair and replacement costs at claim time.

And if you’re a bargain hunter, you won’t be disappointed in the discounts department. Both tiers of this policy give you access to a 15% apply-online discount, a 10% premium reduction for combining building and contents insurance at the same property, plus a no-claims bonus.

Head to the Mozo Experts Choice Awards page to learn more about the judging process and other home and contents insurance winners for 2020.

*Any information provided on this page should be considered a summary and general advice only. All information should be verified before purchase via the relevant Product Disclosure Statement (PDS).

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.

Olivia Gee
Olivia Gee
Money writer

As one of Mozo’s money writers, Olivia Gee shares her research and insights across banking, insurance and property to help readers save. She loves getting stuck into a story, unveiling all the facts, breaking down stats and drawing on personal experiences - this is what drives her as a journalist. She has a double degree from the University of Wollongong, with a BA in Journalism as well as Media and Communications.