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Switch & Save: 5 Step Checklist For Comparing Insurance Quotes

As costs are rising everywhere, it’s a good time to check whether your insurance premiums are still competitive.


We’ve put together this handy checklist when comparing quotes, so you’re not caught out if you do decide to switch insurers.

1. Compare apples with apples

A common mistake most people make is not comparing like-for-like policies. The differences may seem small and subtle, but in the event of a claim they can leave you with an unexpected and disappointing surprise. Always check that you are comparing additional benefits between policies and levels of cover.

For example: A household contents policy with one provider may insure unspecified jewellery up to $5,000 per piece, and another might insure the same piece of unspecified jewellery up to $10,000.

2. Sum insured

These are very important to keep on top of – not only when you first sign up, but also when you’re due for renewal. The sum insured for things like houses and some farm property are designed to inflate, to help keep up with rising repair costs and inflation. Make sure your sum insured is adequate and that you are not at risk of underinsurance.

3. Payments

Your total premium may fluctuate due to different payment types and frequencies. When comparing policies, make sure you are also comparing the same payment methods, as some issuers may charge administrative costs on high frequency payment plans i.e. monthly instalments.

4. Excesses

Excesses can be another point of difference. Lower excess might reflect a higher premium in most cases, but in the event of a claim, the financial outlay of a smaller excess may cause less of a headache. Higher excesses are great for premium saving, but you’d most likely have to take the smaller hits on the chin and insure for the larger, higher impact claims.

5. Is it fit for purpose?

If insurance companies had a policy for every single type of house, farm, business, car etc… 1. Our underwriters would have a terrible headache, and 2. They would be very complex and hard to understand.

That’s why insurance policies are written to incorporate many different benefits that would suit a variety of operations. However, not all would apply to you so you may be paying for a policy that covers more than you actually need.  Always check to ensure your policy is relevant to your operation. That being said, there will always be parts of policies that may not apply to you, but it should never outweigh what is relevant to your circumstances.

Compare your current policy with us to see if you could switch and save. Get an easy quote online at

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