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comparedinkum Featured Insurance for January

The ranking does not represent an implied recommendation for a particular financial product on the part of comparedinkum. Visitors should evaluate each individual product and choose the product that suits their requirements the best.

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  • Insurance simply put is the transfer of risk to a third party who is prepared to bear it in return for a fee. That is to say if you worry about the risk of a certain event, a fire for example and the damage the event can cause, in return for paying a premium to an insurance company, the insurance company agrees to pay the cost of damages (usually a defined amount) to the insured.
  • There are two types of insurance for consumers. The first, Life insurance, provides a benefit in the event of death to the insured persons dependants. Which in effect means that in return for paying an annual or semi annual premium to a life insurance company, upon death, the insurer agrees to pay a benefit to your loved ones. This may sound morbid, but in reality should the death be unexpected, it provides a source of finance for your dependents, and gives them a source of income should the primary income earner no longer be around.
  • The second type, general insurance covers all kinds of general risk everything from home and contents to car insurance. So for example should you have a burglary or fire at your house, the cost of reimbursing your house for damage or loss is undertaken by the insurer. Similarly with car insurance, should you have an accident, or your vehicle requires repairs, that cost will be borne by the insurer in return for a regular premium payment.

Latest Insurance News from the comparedinkum Blog

Shop Around Before Taking Out Travel Insurance

Australians like to flock to Europe to soak up the sun this time of year as they seek to escape the increasingly cold winter. Last year an estimated 1.5 million Aussies visited Europe according to data from Tourism Australia. It’s not just Europe people are travelling to, many are taking holidays in other Pacific Island countries as well. So the question becomes one of whether it is worth purchasing an annual travel insurance policy that will cover the holder for a 12-month period. Continue reading

Football Fans Travelling To See The World Cup Urged To Protect Themselves With Travel Insurance

As summer approaches in the Northern hemisphere, it’s no secret that Australian football fans are counting down the days to this year’s World Cup. It would appear however that travel insurer Allianz is also busy making preparations for arguably the biggest sporting event of the year. Allianz is seeking to remind Aussie football fans who intend to visit Russia to exercise a little caution before making the journey. The insurer says that the Government of Australia has advised its nationals travelling to Russia to exercise a great deal of caution which Allianz says is a sentiment it echoes. Continue reading

Younger Australian Travellers Skipping Out On Travel Insurance

We’ve all heard terms such as millennial’s, you may have even come across a HENRY, though we still don’t entirely know what that means. The latest research however has revealed a new class of younger Australians that have cash to spend and love to travel that are being referred to as flashpackers. According to the study gone are the days when young Aussies would strap on their backpacks to head overseas on the smell of an oily rag. Continue reading

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