Home Insurance Providers
There are plenty of home insurance companies in Australia, and they’re all a little bit different in what they cover. There are a couple of important points to remember. Firstly, the real estate value of your home is not the same as the cost of rebuilding it -a professional valuation will help ensure you know the replacement cost.
Secondly, make sure you know what supplementary costs the policy you currently have (or are about to have) covers. For example, does it cover expenses like temporary accommodation if your home needs to be rebuilt? Another consideration: if you’re going to be away from your home for extended periods of time, let your insurer know – because some policies may not cover ‘insured events’ if the home is unoccupied for a specific length of time.
Most Australians appreciate that insurance is an essential part of their lives, but some are unsure about what’s covered in their policies – and this can lead to confusion when it’s time to make a claim. There’s a good reason insurers are always reminding us to “read the Product Disclosure Statement for full details”, it’s so we can be better informed about what we’re covered for in the policy we choose. With insurance, the more you know, the better equipped you’ll be to make decisions that are right for you.
Shop around for the deal you want
There are over 120 licensed insurers in Australia1 (though not all of these offer Home & Contents cover). So how do you compare them to see which offers the price that best suits your needs? At Budget Direct, we’ve made the process super-easy with our Budget Direct Comparitron™. Just enter the type of insurance (Home, Contents or a combined policy) and the state you live in, and in seconds it will tell you how much money our customers saved when they switched their Home & Contents Insurance over to Budget Direct.
Your present insurer may not be jumping for joy that you’re comparing prices, but if they offer good service, a competitive price, a straightforward claims service and solid Policy Benefits, they should have nothing to worry about. However, because so many of us just go into ‘automatic mode’ and pay our renewal notices without thinking about alternatives, we might potentially be missing out on some savings. The insurance industry is highly competitive in Australia these days and there are some great deals out there – if you take the time to look for them. So it pays to look over your cover annually, and make sure it’s still giving you what you need at a price you can afford.
Budget Direct – helping protect Aussie homes since 2000
Budget Direct isn’t afraid of price comparisons – in fact, we welcome them. By using highly accurate risk assessments, we’re able to keep the price of your premiums a bit lower. We also offer discounts if you buy your cover from us online: % off for a new Home or Contents policy and % off for a new Combined Home & Contents policy if you purchase from us online.
Insurance should be flexible, and so should the ways you can pay for it. We offer customers the option of paying by credit card, PayPal or direct debit, and the choice of paying annually, fortnightly or monthly.
Do you know what you’re covered for?
Price is only part of the equation, of course. You also want to ensure you’re getting policy options that match up with your circumstances. You certainly don’t want to be paying for anything you don’t need, but it’s vital to be adequately covered for the unexpected. Insurance is all about managing risk. According to a national survey, more than 4 in 5 Aussies risk their homes and valuable assets because their insurance cover isn’t adequate for their needs. Equally alarming is the fact that nearly a quarter of all homeowners and renters have no Contents Insurance at all.
Here are some other interesting statistics from the same Quantum/Insurance Council of Australia study: (a) 1 in 4 Australians aren’t sure what’s actually covered in their Home & Contents policy; (b) 48% don’t consider exclusions when selecting their policy; (c) 44% admit to failing to read the details of their insurance policy, and (d) 39% don’t update their policy when they purchase a new asset3.
Knowledge is power, and this certainly applies when you’re looking for Home & Contents Insurance. When you’re shopping around for Smarter Insurance, don’t be afraid to ask as many questions as you need to – you’re the one who will benefit in the long term.
Fires, storm damage, burst pipes and a range of other calamities can damage or destroy the belongings you have stored inside your home. Burglary is also a problem in this country, so can you afford to not have adequate cover for your valuable Contents? Have any idea what it might cost to replace household items if they were stolen or damaged? Don’t worry – we’ve got some quick and convenient Replacement Value Calculators that can help you with that.
When you start adding up the value of all your appliances, clothing, tools, digital gizmos, whitegoods and everything else you’re storing in your home, it can come to a pretty tidy sum. It’s definitely a good idea to photograph your more valuable possessions for insurance purposes. Keep in mind that when you take items (jewellery, cameras, etc.) outside of your home, you may need to look at extra cover.
Check out Budget Direct – and then get a quick quote!
Please have a look at our Standard Benefits and Optional Benefits to see what we offer. Need Landlord Insurance? We can handle that too. And remember, our Home & Contents cover comes with a 24-hour Claims Helpline and a 21-day Money Back Guarantee. So grab an Online Quote and see what you can save – you never know!