Best way to buy insurance? Buy direct.

As we’ve found in previous years, consumers who buy direct from the insurer are much more likely to be happy with the service they’re getting, compared with those who buy cover from a bank or a broker.

This year, just 36 percent who bought house insurance from a bank and 47 percent who bought from a broker thought they were getting good service. In comparison, 57 percent who bought direct from the insurer were happy with the service they received.

We found a similar trend for contents, car and life insurance. Satisfaction was lowest among those who bought life insurance from a bank or broker.

Customer satisfaction

Our advice

Regularly review your insurance cover and shop around if you’re not getting good service:

• When you get your annual renewal notice, check if you could save by switching companies.

• Get at least three quotes. Premiums can differ by hundreds of dollars.

• If you’re unsure about what a policy covers and its exclusions, get the company to explain it to you in writing.

• Regularly review how much cover you need, especially after major life events such as marriage, divorce or having children.

• If you’re changing insurers, don't cancel your old cover until you’re confirmed as a customer of your new insurer on terms you’re comfortable with.