Insurance

COVID-19 has really been a game changer when it comes to driving. Many people may now require a private way to get around, or might be rethinking the need for their car during lockdown.World Car-Free Day rolls in on September 22 this year, encouraging motorists to give up their wheels for the day to minimise air pollution. It’s one of many initiatives linked to drivers reducing their carbon footprints, but it brings up a couple of other questions, too. Firstly, can Aussies live without their cars in the post-pandemic world? And then for the more financially astute drivers: how much does owning a car cost and are there any cheaper alternatives? 

A newly released report on the NSW bushfire inquiry suggests better risk management to help keep premiums down, but does not address issues of standardisation in home insurance terms.

Longstanding superannuation fund Equip Super will change how it manages life insurance from 1 October, 2020.Equip chief member officer, Tania Cumming said the changes will focus on increased flexibility and member input.“In reviewing insurance products and talking to our members, they were clear that they wanted insurance that responded to their lifestyle needs. And critically, they wanted us to deliver these options to them rather than them having to construct it themselves,” Cumming said.While some members will see their life insurance premiums increase, Cumming said the changes are designed to meet long-term needs.“Key to getting this right is working to ensure that our insurance products align to members’ lifestyles and financial aspirations as well as offering long-term value, rather than short-term changes. It is important that we take a balanced approach that is both affordable and sustainable.”

Pet owners love their fur babies just like their own kids, so the prospect of finding the right pet insurance for your four-legged friend can be quite daunting. Knowing exactly what your pet insurance covers, what the premiums are and understanding the fine print are important steps in choosing the best cover for your pet’s needs.Mozo Expert, Peter Marshall emphasised how imperative it is to shop around when it comes to choosing pet insurance. “The key for any pet owner is finding a policy that will not only cover your pet if something unexpected happens, but finding one you can afford. This year’s awards saw us compare policy features head to head, across different animal breeds and price points to help Aussies find top value cover and award those providers that, in our opinion, offer the best pet insurance in 2020.” Pet Insurer of the Year for 2020:For the second year in a row, Pet Insurance Australia outperformed its competitors to take out the top prize of Pet Insurer of the Year for 2020. Taking out two awards in our Exceptional Value category and coming out strongest across the board in all categories assessed, it’s only fitting for the renowned insurer to take the crown.

As a direct result of the Covid-19 pandemic, the Australian travel insurance industry has seen a sharp decline in growth, a new report from GlobalData finds.