Which home insurers are offering financial relief during COVID-19?

If you’re looking to cut down on your household expenses during the coronavirus crisis, it might be a good idea to contact your home insurer to see if they are offering relief to customers who need it.

For many Australians, the cost of home and contents insurance rings in at well over over $1,000 a year. According to Canstar research, the average Queenslander is paying $1,561 a year for home and contents insurance, the average person in New South Wales is paying $1,347 a year, while Victorians are paying about $1,204 per year.

As many of us continue to feel the financial impacts of coronavirus, some home insurers have announced financial relief packages in the form of premium discounts and waivers. Some insurers are offering premium discounts of up to 20%. This means the average Queenslander could save up to about $26 per month, New South Wales residents could save about $22 per month and Victorians could save about $20 per month.

Here’s a roundup of some of the relief options and discounts that are currently available from home insurers on our database to customers suffering financial hardship due to COVID-19. For more information, including the terms, conditions and eligibility requirements for each offer, please check with the insurer directly. If your insurer is not listed below, it could still be worth contacting them directly and seeing what options are available to you.

Source: Providers’ websites as at 28 April 2020

If you’re looking for ways to reduce your household costs, you may also want to consider comparing your home insurance options to see if you can find a better deal that suits your needs.

You might also be interested in the following articles:

• 20 ways you may be able to cut the cost of your insurance premiums
• Coronavirus rescue packages: How does repayment pause work and what else if your bank offering?
• Your money and coronavirus: 10 steps to help you save and protect your finances

Image source: mavo (Shutterstock)

As with all our content, Canstar’s Coronavirus coverage will always be free for our readers.