Currently shopping for home and contents insurance, came across this great deal.
In my case, saved $350 from my current premium AND have a $150 EFTPOS card coming in the post after the cooling off period (21 days). All up, almost a $500 saving for me if you count the EFTPOS card.
From what I can tell, the cover is very comparable to other insurers and is issued by Auto & General - the same company behind Budget Direct, Australia Post, Virgin and Dodo home insurance products.
Obviously may not be cheaper for everyone, but worth getting a quote anyway - only took me a few minutes.
They don't make it very easy to compare this product to others in the market, but I was able to find a table of benefits once I'd gotten a quote, which I've copied below to help others out. Also, the second part of their PDS was helpful in understanding the cover.
| Policy Benefits | Home | Contents |
|---|---|---|
| Legal liability | $20 million | $20 million |
| Fire cover | Y | Y |
| Explosion cover | Y | Y |
| Theft or attempted theft | Y | Y |
| Malicious damage, vandalism, riot or civil commotion | Y | Y |
| Accidental breakage of glass, ceramic and sanitary fixtures | Y | Y |
| Storm and rainwater damage | Y | Y |
| Lightning cover | Y | Y |
| Earthquake cover | Y | Y |
| Escape of liquid | Y | Y |
| Impact cover | Y | Y |
| Lump sum or instalment payments | Y | Y |
| Temporary accommodation costs | Y | Y |
| Mortgage discharge costs | Y | - |
| Funeral expenses | Y | Y |
| Replacement of locks | - | $500 |
| Contents in the open air at the insured address | - | Y |
| Contents away from the insured address | - | Y |
| Credit card cover | - | $1000 |
| Uninsured guests' contents cover | - | $500 |
| Unattached equipment cover | - | $500 |
| Optional Benefits | ||
| Personal effects cover | - | Y |
| Motor burnout cover | Y | Y |
| Tenant default cover and theft | Y | Y |
| Accidental damage cover | Y | Y |
| Malicious damage by tenant cover | Y | Y |
| Choice of excess options | Y | Y |
| Flood Cover | Y | Y |
Ts and Cs for the offer can be found here:
http://www.ozicare.com.au/visa-prepaid-card-offer-terms
Thanks for the comprehensive post!