Whether it’s car, home, health, or life insurance, finding the best value in Australia means more than just choosing the cheapest policy. It’s about balancing affordability, coverage, customer service, and peace of mind.
Here’s how you can make sure you’re getting the most out of your insurance policies.
✅ 1. Understand What You Actually Need
Start by evaluating your current lifestyle and financial situation:
- Are you a homeowner or renter?
- Do you own or finance your car?
- Do you have dependents?
- Are you self-employed or salaried?
- Do you have any health conditions?
Being clear about your needs prevents overpaying or being underinsured.
🔍 2. Compare Multiple Quotes (Don’t Just Stick to One Brand)
Use trusted comparison sites like:
- Compare the Market
- Canstar
- Finder
- iSelect
Also, check insurers’ websites directly—some offer exclusive online-only deals.
💡 3. Look Beyond the Premium
Cheap isn’t always best. Check:
- Excess: Can you afford the out-of-pocket cost in an emergency?
- Exclusions: What isn’t covered (e.g. floods, theft without forced entry)?
- Claim reputation: Read online reviews about customer experiences.
- Optional extras: Evaluate whether add-ons like roadside assistance are really worth it.
🔄 4. Bundle Your Policies
Many insurers offer multi-policy discounts if you combine:
- Car + Home Insurance
- Home + Contents
- Life + Income Protection
These bundles can save 10–20%, but always compare individual value before bundling.
📅 5. Review and Adjust Annually
Your circumstances change—so should your insurance.
- Have you moved?
- Paid off a car loan?
- Renovated or downsized?
Set a yearly reminder to review your policies, remove unnecessary extras, and compare new quotes.
💰 6. Take Advantage of Discounts
Ask your insurer if you’re eligible for:
- No-claims bonus
- Annual payment discount
- Multi-policy discount
- Security-related discounts (e.g. alarms, cameras)
- Health or gym membership discounts (for life/health cover)
Everyday Insurance often have discounts and you can get an Everyday Insurance discount code from here.
These can make a big difference over time.
📃 7. Read the Fine Print (Yes, the PDS)
The Product Disclosure Statement (PDS) outlines everything that’s covered—and what’s not. Watch for:
- Definitions (like “accidental damage” or “storm damage”)
- Time limits and claim procedures
- Waiting periods
- Item value sub-limits (for things like laptops or jewellery)
🤝 8. Consider an Insurance Broker
If your situation is more complex—like running a business or owning multiple properties—an insurance broker can help you:
- Compare specialist policies
- Negotiate better deals
- Handle claims support
Make sure they’re licensed with ASIC or a member of NIBA.
🎯 Final Thoughts: Value Comes from Balance
The best value insurance in Australia doesn’t just save you money—it protects you when life throws a curveball.
🔑 Key Takeaway: Regularly review your needs, compare quotes, and look beyond just the price to ensure you’re covered when it matters most.
Have a tip for saving on insurance? Drop it in the comments below!