Money reveals the Best-Value Home and Contents Insurance for 2021

Insurance is a relentlessly competitive product, and the fact that larger companies Allianz and AAMI have knocked Budget Direct out of the top spot shows how hard they have worked to sharpen their prices.

In doing this, these insurers realised they had to combine their bigger networks and reputations for service with lower prices.

Where the bigger insurers also stand out is that they are able to cover more people in harder-to-insure locations. They can do this because their larger size gives them volume and scale.

Allianz Australia chief technical officer James Fitzpatrick says it is important that Australians continue to have access to affordable and adequate insurance so they can feel secure.

"We recognise 2020 was a tremendously hard year for so many Australians. From the devastating impact of the bushfires at the start of the year, through to the COVID-19 lockdown and now heading into increased chance of storms, flooding and cyclones due to La Nina, we are there for our customers when they need us most," says Fitzpatrick.

Allianz is strong in all categories in all states, and AAMI in medium and high-value locations especially. Budget Direct's strength is for mid-priced homes.

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