Money reveals its 2024 Insurer of the Year


Budget Direct has been named Money's 2024 Insurer of the Year as part of the Consumer Finance Awards.

With insurance premiums rising faster than inflation adding to cost-of-living pressures being felt by many Australians, it's important to look for value in your insurer.

According to Budget Direct, which has won this award for eight consecutive years, it offers award-winning insurance for less.

consumer finance awards 2024 insurer of the year

"Budget Direct's continual focus on process improvement allows us to pass savings onto customers, resulting in great-value reliable insurance for Australians," says Jonathan Kerr, chief growth officer at Auto & General, the brand's underwriter.

The insurer offers a wide range of coverage including car and motorbike insurance, roadside assistance, home and contents insurance, pet insurance and travel insurance.

"We are particularly excited by our new pet insurance product line, launched in June 2023," says Kerr.

Customers who buy their policies online receive sizeable discounts on their first year's premiums ranging from 15% on car, motorcycle, pet and travel to 30% on a combined home and contents policy. 

Known for its innovative advertising with the theme 'Insurance Solved', Budget Direct says it has provided solutions for more than three million Australians since 2000. 

"We work hard to find the right balance between people-delivered care and attention, and really smart technology behind the scenes to accelerate the process," says Kerr. 

Save on your insurance premiums by only paying for what you want, it says on For example, you can customise your insurance cover by adding one or more optional extras to your policy, such as a hire car following an accident, or flood cover for your home. 

"Put Budget Direct to the test, compare your current renewal with our price and if it's right for you, join the millions of Australians already with Budget Direct," says Kerr. 

Regarding claims, the insurer advises policy holders to make contact as soon as they need to make a claim. "You can lodge your claim over the phone or online at any time of the day or night, 365 days a year," it says on the website.

QBE, which has been insuring Australians for more than 130 years, came in second place. Its coverage includes cars, motorcycles, home and contents, and business insurance. Its standard home and contents insurance includes flood and storm damage.

Customers who want to reduce the cost of their home and contents insurance should consider choosing a higher basic excess to lower their premiums, it says on QBE's website ( You can also pay less for your home insurance premium if you pay annually.

And if you buy your policy online you will get a 10% discount.

AAMI, part of the Suncorp Group, placed third. It also has a full suite of products, including health insurance. It offers discounts for customers who receive a quote and buy online.

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