Cost of living pressures cause Queenslanders to re-think home insurance payments

Increasing cost-of-living pressures including rising mortgage interest rates, household utilities and groceries is causing North and Far North Queensland home insurance policyholders to re-think the way they pay their annual premiums.

Managing Director of Sure Insurance, Bradley Heath said home insurance is a major family budget cost, and it comes as no surprise policyholders in these increasingly tough times are seeking alternative payment methods such as pay-by-the-month to spread the cost of annual premiums.

“The number of our policyholders switching to pay-by-the-month payments has rapidly increased over the past several months to the extent we now have threequarters (72 per cent*) of all Sure Insurance customers across regional, North and Far North Queensland (FNQ) on this payment method.”

“Despite some other insurers charging a monthly-fee of up to 20 per cent extra, Sure Insurance offers customers pay-by-the-month payments completely free of charge and it takes only a phone call to put in place,” Mr Heath said.

“North and FNQ householders are one of the most informed and knowledgeable group of household insurance consumers and the large numbers switching to payby-the-month indicates they are now actively exploring alternative premium payment methods.”