|Australia’s best insurance of 2021|
Insurance is a vital product, but despite its importance it is an area that Aussies sometimes avoid. This could be because choosing the right insurance products can be a very complicated and often disheartening process.
Once you’ve trawled through the fine print of multiple policies and finally picked one to go with, it involves forking out cash just in case you find yourself, your belongings or your loved ones in an emergency situation.
It’s not a nice thought but it is necessary if you want to be supported financially if the worst were to happen. Mozo regularly investigates and reports on the variety of insurance products on the market, from car insurance to home and contents cover, life insurance and even insurance policies for your pets.
Then each year, the experts at Mozo compare and analyse these options for the Mozo Experts Choice Awards^. Close to 200 policies spanning car, home, landlord, life and pet insurance were analysed by the Mozo judges to identify the best value and best quality insurance policies on the market.
We’ve plucked a few standout policies which have one awards across the last 12 months for you to compare and consider here.
Best Car Insurance
Budget Direct Gold Comprehensive Car Insurance*
15% buy online discount on your first annual premium
Your choice of repairer
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For the second year in a row, Budget Direct has taken out top honours as Insurer of the Year, this time in the value category. The consistently affordable insurer provides flexible comprehensive car insurance, with up to $500 of personal property covered, another $1,000 to replace car keys and locks, and the option to choose your own repairer after an insurable event.
If you get into a scrape and your wheels are written off, Budget Direct will replace your car with a new comparable ride (as long as it was less than two years old and had driven under 40,000km). And don’t forget the feel-good bonus of a 15% discount if you buy the policy online.
Woolworths Comprehensive Car Insurance*
Drive Less, Pay Less policy option
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This is a great option for Aussie drivers who aren’t on the road very often. Woolies’ Drive Less, Pay Less policy option can reduce your premium when you set and stay under an annual kilometre limit. The Woolworths comprehensive policy also includes cover for people using their cars to work as rideshare drivers.
This policy also provides new-for-old car replacement if your wheels are written off (on the condition the car is less than two years old), and there’s a discount of up to 15% on your first year’s premium if you apply online.
Youi Comprehensive Car Insurance*
New-for-old-car replacement (within 2 years and 40,000km)
Emergency roadside assistance included
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Youi’s policy has many of the flexible features you may be after at a consistently affordable price. In an emergency you can access up to $1,000 to cover repairs without an insurance assessment, or spend it on accommodation and travel if you’re more than 100km away from home. Emergency roadside assistance is also included as standard.
You can get back onto the road after a theft or not-at-fault accident with Youi’s hire car cover (for up to 14 days). And if your vehicle is written off, You will replace it for a car of comparable value so long as your original ride was under two years old and had less than 40,000km on the odometer.
Best Home Insurance
Virgin Money Home & Contents Insurance*
30% apply online discount on your first year’s premium
Optional underinsurance protection
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When you take out a home and contents insurance policy with Virgin money, your home and belongings will be covered in a wide range of circumstances. This includes fire, storm, earthquake and theft, and you can expect new-for-old contents replacement. Most items or events will have coverage limits and there are exclusions, so be sure to check the product disclosure statement (PDS) for all the details. For example, cash is covered up to $800, while computer software is insured for up to $3,000 and jeweller is insured for $1,000 per-item (up to $5,000 in total).
There are also optional extras with this policy (for an additional fee) you may want to consider. Flood and accidental damage or loss beyond glass breakage can be included on top of standard cover, as can underinsurance of up to 25%.
Budget Direct Home & Contents Insurance*
30% combined apply online discount for your first year’s premium
Are you looking for extensive protection for your home and belongings at an affordable price? Then you’ve come to the right place, as Budget Direct is Mozo’s Value Insurer of the Year.
This comprehensive home and contents insurance policy offers an impressive list of extra features like new-for-old contents replacement, cover for portable items, and emergency accommodation for up to 12 months (or 10% of the sum insured) for you and your pets. You’ll be protected against a range of natural disasters and there’s a heap of contents included – just check your product disclosure statement (PDS) for limits on specific items. And if you’re after combined home and contents cover, you’ll score a 30% discount on your first year’s premium just by purchasing a new policy online. Too easy.
Woolworths Comprehensive Cover*
20% combined apply online discount for the first yearly premium
Temporary accommodation for you and your pets
Woolies’ building and contents insurance policy protects against fire, theft, storm and flood, with cover also extending to any fences and gates up to the sum insured. Landscaping is insured up to $750 and replacement locks up to $500. And if you find yourself unable to stay in your property because of substantial damages, the policy will cover up to 12 months of temporary accommodation (up to 10% of sum insured). $500 is also available for temporary accommodation for your pets if needed.
When it comes to your contents cover, things like CDs and DVDs, handwoven carpets, jewellery and antiques are insured up to $1,000 per item and up to $2,500 per item category. The contents of your home office is also covered up to $5,000. Just remember there are policy limits and exclusion, so always read your PDS carefully.
Best Life Insurance
NobleOak Life Insurance*
Comprehensive cover up to $15,000,000 + Funeral Advance Benefit of $15,000
Process claims within 5 business days on average
NobleOak has more than 140 years experience in the insurance game and has been crowned Life Insurer of the Year by our experts after taking home seven trophies in the latest Mozo Experts Choice Life Insurance Awards and appearing in every single award category.
These life insurance pros are known for their extensive policy coverage and features which come at an affordable price. You can start your cover aged between 16 and 69, with guaranteed renewal up to 99 on up to $15 million in coverage (with higher levels of cover considered on request).
NobleOak Premium Life Direct Income Protection Insurance*
Insure up to 75% of your pre-tax income (up to $25,000 per month)
Protect your income up to age 65
NobleOak’s Premium Life Direct Income Protection Insurance gives you peace of mind with regular payments for a specified period helping you replace some of your income when you can’t work due to serious illness or injury.
With this policy you can choose either a 30 or 90 day waiting period, a benefit period of 2 years or to age 65, plus there’s a generous maximum cover benefit of up to $25,000 per month (up to 75% of your pre-tax income).
* 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 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
Head to the Mozo Experts Choice Awards page to learn