How to save with energy and insurance rewards

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There's no denying that money is tight for many Australian households right now and with Christmas just around the corner, many of us are looking for ways to make our money stretch further.

What some Aussies may not be aware of is they could be missing out on hundreds of dollars of savings every year that are available to them through their insurance policies, energy plans, mobile phone deals and more.

In fact, there's a smorgasbord of sign-up credits, frequent flyer points, discounts on shopping, dining, activities, holidays, gift cards and more on offer right now.

how to score insurance and energy discounts

How to find rewards and discounts

Many companies use a variety of rewards or perks to sweeten the deal with new customers and are often available when you first sign up to a product or plan.

If you're currently searching for a new electricity or gas plan or looking for a new insurance policy, consider what perks or discounts are available that could help ease cost of living pressures.

It's also worth checking with your retailer or provider, as you may already be entitled to rewards without even knowing it.

Insurance and energy rewards

But exactly what is available? Well, here's a snapshot.

Signing up to an Everyday Insurance car, pet, home or landlord insurance policy entitles you to a 10% discount on one monthly grocery shop when you link your policy to your Everyday Rewards Card.

Virgin Money offers Velocity points with its car and, home and contents policies, which can be redeemed for travel, while you can receive discounts on dining, activities, gift cards and more when you have two current policies with Budget Direct.

Energy retailers like Origin and Red Energy incentivise customers with points towards rewards programs that can be redeemed for things like flights, groceries, dining experiences and entertainment, while many health insurers have reward programs that offer discounts on things like gym memberships, prescription glasses, meals, shopping and more.

Others offer significant discounts on dental and other services, which can really add up over a year.

Depending on your insurer or energy retailer, there's a real opportunity to sniff out significant discounts on everyday expenses, which could help households stay afloat as they battle rising costs. Use these incentives to your advantage.

What to consider

However, it's imperative that you check which perks and rewards you're entitled to.

And, if you do plan on switching plans or policies, check if there are any exit fees or break costs with your current plans.

It may cost you more to change a plan or provider than what you'd reap in rewards, so ensure you're aware of these costs before switching.

 

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Chris Ford is the general manager of media and communications at Compare the Market. He studied journalism at the University of Queensland, and has more than 13 years' experience in media.