FAQ
Insurance comparison FAQ
Review policies at every renewal and after a life change. Cooling-off, if offered, is usually a short window stated in the PDS and often unavailable after a claim. Cheapest is not a method. This FAQ is general information, not personal advice.
- Review cadence
- Each renewal + after material life changes
- Cooling-off
- Check the PDS — often unused after a claim
- Cheapest
- A price, not a method
- Advice
- None of these answers are personal advice
How often should I review my policies?
At every renewal, and after any change that alters the event or the object. A renewal letter is a prompt, not a verdict. Open the schedule and check: address, vehicle, listed people, sum insured, excess, and optional extras you no longer need.
Life changes that usually deserve a mid-term look:
- a renovation, granny flat, or new solar — rebuild cost and underinsurance
- a new or young driver, or a change in how the car is used
- a pet diagnosis (waiting periods and pre-existing rules on pet insurance)
- a new job or a jump in income (income protection)
- a trip with sports, cruises, or a destination your card’s travel extra may not like
Review is not the same as switch. Switching without a start date on the new policy is how people create a gap. See switching insurers.
Cooling-off periods on insurance?
Often yes for general insurance, never assume the number. Many PDSs describe a cooling-off window measured in days from purchase, commonly unused if you have already claimed. Some products and distribution channels differ. Some add-ons sold with loans or phones have their own rules.
Treat cooling-off as a consumer-protection valve, not as a strategy to “try” being uninsured. If you cool off, confirm in writing that cover has ended and that any replacement is already on risk.
Is the cheapest insurance a good idea?
Only after you have cloned the cover rows. If you have not aligned excess, limits, exclusions and waiting periods, you are ranking different products. The how-to-compare method exists because this question is the one advertising wants you to answer too fast.
Are comparison sites impartial?
No site is impartial by logo. Impartiality is a behaviour: disclose money, show a method, refuse invented prices, and let a thin product lose even if it would have paid a commission. Read our methodology. Ask the same questions of any aggregator you use.
What fees or commissions might apply?
On this domain today, no partner commission is live. The buttons are stubs. If that changes, the article and the disclaimer will say we may earn a commission. Your insurer’s premium is still set by the insurer. Other fees — broker fees, premium funding, cancellation fees — belong to those contracts, not to this website.
How do insurance claims usually work?
Notice, evidence, assessment, decision, then complaint rights if needed. The long version is claims basics. The practical habit is to photograph the scene, keep invoices, and tell the truth you already told on the application.
Flood and storm — what should I check?
Whether the event you fear is the event the wording pays. Storm, storm surge, flood, and flash flood are not synonyms. The home insurance hub lists the questions; the PDS lists the definitions. This FAQ will not invent which brands include flood.
Pre-existing conditions and health cover?
Waiting periods and pre-existing rules are the product. Government explainers on PrivateHealth.gov.au and MoneySmart are the first stop. Our health and waiting periods pages translate the comparison task, not your clinical situation.
Life insurance versus income protection?
They pay different events. Life (and often TPD or trauma) is about death or a defined impairment. Income protection is about a period of inability to work, after a waiting period, for a benefit period. See life and income protection.
Still stuck?
Use the guides library or email callum.sherwood.seo@gmail.com about the page, not about your personal quote.
Frequently asked questions
How often should I review my policies?
At least at each renewal notice, and whenever the risk changes — renovation, new driver, new pet condition, new occupation, new destination, or a jump in rebuild costs. Review means re-reading the schedule and the event you need paid, not automatically accepting or switching.
Do insurance policies have cooling-off periods?
Many general insurance products include a short cooling-off period if you have not made a claim, but the exact number of days and the conditions sit in that product’s PDS. Do not assume a universal period, and do not use cooling-off as a plan to be uninsured.
Is the cheapest insurance a good idea?
Not if the cheap premium was created by a thinner promise — higher excess, missing flood, a long waiting period, or a harsh definition. Cheap is only meaningful after the cover rows match.
Are comparison sites impartial?
Not by default. Ask who is paid, what is ranked, and whether prices are live. This site publishes methods and does not invent quotes. See the methodology page.
What fees or commissions might apply?
Future partner clicks may pay this publisher a commission. Today the /go/ routes are stubs and pay none. We will not claim “no extra cost” unless it is true.
How do I compare insurance prices in Australia?
Event first, PDS second, mechanics third, premium last. The how-to-compare page is the long version.
What matters more — premium or excess?
They are one trade-off. A low premium with an unfundable excess is not cheaper if you claim. See excess vs premium.
What is a Product Disclosure Statement?
The legally required document that describes the product’s features, fees, risks and complaints pathways. It is the rulebook, not a brochure.