News eDaily18 Apr 2017

Australia:One in 7 Aussies don't have any insurance

18 Apr 2017

Australians are more concerned with insuring their vehicles than protecting their personal health, well-being and finances, according to a study by customer research firm, Pureprofile.

The study, which surveyed 1,000 people, analysing their attitudes towards insurance coverage, found 72% of Aussies have comprehensive car insurance and 62% have home and contents insurance. Just 55% have private health insurance, 22% have life insurance and only 12% have income protection.

One third have low or no insurance and one in seven adults (14%) do not have any insurance at all.

Despite half of all respondents considering private health insurance to be "very important" or "essential", a quarter of those who actually have a health insurance policy rated it as "only somewhat important".

Costs (71%) and benefits (42%) are key reasons behind people's decisions not to take out health cover.

In health insurance, renewal notifications have encouraged many Australians (46%) to switch insurers and comparison websites were used by more than half (54%) of those seeking new policies. One in six Aussies (16%) have switched private health insurance providers at least once in the last three years.



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