2024 Insurer of the Year Award

Australia’s largest comparison site, Canstar, releases its
2024 Insurer of the Year Award.

Released: 02 January, 2024

About this year’s awards

To determine the winner, Canstar’s expert Research Team uses a sophisticated and unique ratings methodology to assess the overall value of car insurance and home and contents insurance products offered by insurers to Australian consumers.

For the Insurer of the Year Award, customer satisfaction was also taken into consideration using the results of a nationwide survey conducted and analysed by Canstar that reviewed 5,682 consumers across Australia.

The title of Insurer of the Year is awarded to the insurer that provides their customers the strongest combination of insurance products across car, home and contents insurance, as well as customer satisfaction.

For an insurer to be eligible for the title, it must underwrite its own insurance products or be a wholly owned subsidiary of a general insurer. Only insurers that have been in the market for at least 12 months are considered for this Award.

Congratulations to the Award winners

Budget Direct
2024 Insurer of the Year Award

Budget Direct has been awarded Canstar’s Insurer of the Year for a third consecutive year. This follows Budget Direct being awarded Canstar’s 2023 national Outstanding Value Awards in Home, Home & Contents and Car Insurance.

Canstar’s Group Manager, Research and Ratings Josh Sale said Budget Direct had maintained competitive premiums across both the home and car insurance categories, paired with a number of features that helped consumers safeguard their assets.

“Car Insurance customers have access to rental vehicle cover following theft and no-fault damage, new-for-old replacement, as well as a range of options to customise the policy, including choice of repairer and reduced windscreen excess,” said Mr Sale.

“For home and contents insurance, customers are covered for fire, theft, storm and have access to a range of additional benefits such as inflation protection, as well as the option to add cover for flood and accidental damage.”

“Another deciding factor was the discounts Budget Direct offer, including for customers who sign up for new home, contents or car insurance policies, which could be combined with an additional bundle discount for those taking out home and contents cover.”

Budget Direct is a prominent general insurance provider in Australia, claiming to have insured more than 3 million Aussies since it was founded in 2000. Budget Direct offers a range of general insurance products including car insurance, home and contents insurance, pet insurance, and travel insurance.

Does Canstar rate other products?

About Canstar

Canstar also has insights and information about financial products and services generally. You can find out about topics such as: interest rates, buy now pay later (BNPL), business products and tax. You may also be interested in discovering more about calculators and resources, such as our rate checker and free credit score tool, to help you with your financial decision-making.

About: Josh Sale, Group Manager, Research & Ratings

Bachelor of Commerce, Economics/Finance dual major, Griffith University. Master of Data Science, Strategy and Leadership, RMIT (ongoing studies)

Joshua Sale is responsible for developing the methodology and delivering Canstar’s flagship Star Ratings, as part of Canstar’s Research team. With tertiary qualifications in economics and finance, he enjoys helping Australians find more suitable financial products by transforming complex calculations into a consumer-friendly Star Rating that explains the values and benefits of different financial products.

As one of Canstar’s company spokespeople, Joshua has participated in print, radio and broadcast interviews with the likes of the Australian Financial Review, news.com.au and Money magazine, along with other leading media outlets, discussing topics such as home loan equity, banking incentive schemes, digital wallets and wider finance trends.

Joshua is known for his ability to simplify complex products and technical information, crunching the data into meaningful insights for consumers about finance. He has analysed several consumer markets across banking, insurance and wealth, and is keenly interested in various topics, ranging from how Australians interact with their superannuation funds, to the dynamic nature of the health insurance market, and collecting and redeeming credit card reward points.

Joshua believes that knowledge is the first step towards empowerment. Even while studying, he facilitated peer-assisted study sessions for economics, and represented his University’s Business School in an academic committee.

You can follow Josh on LinkedIn, and Canstar on Twitter and Facebook.