Julia Pannett

Home Insurance

26 Nov 2015

Australian Home Insurance Gap

Woolworths Home Insurance infographic shows the percentage of Australian homes that are under insured and some of the reasons why.

81% of Australian homeowner’s and renters don’t have an adequate level of cover.

74% of Australians renters don’t have any cover.

They are taking the risk because they think

  • 49% think insurance is too expensive
  • 31% think their property and possessions aren’t worth insuring
  • 27% believe it’s unlikely they will need to claim
  • 23% Jewellery
  • 21% Tv’s
  • 19% Computers/Tablets
  • 14% Furniture
  • 4% Antiques/Collectibles

Without the right cover

Australians risk significant financial loss if their most valuable possessions are stolen, lost or damaged.

Excluding family members and pets, jewellery ranked highest as the most valuable item in the Australian home.

Sources: Quantum Market Research for the insurance Council of Australia August 2014 Understand Insurance Woolworth’s Home Insurance is issued by the Hollard insurance company Pty Ltd AFSL 241436. Consider the PDS available at Woolworths Home Insurance to decide if the product is right for you.