Majority of Australians regard insurance purchase as investment

May 21 2015 by InsuranceAsia News Staff

A survey commissioned by Australian insurer Budget Direct showed that a majority of Australian regard buying insurance as an investment.

The survey, which pooled 1,000 respondents, found 59% of Australians were happy to purchase insurance for their car or home, regarding it as an investment to protect their assets, while 24% said they did so grudgingly.

The survey was conducted in February, prior to the catastrophic weather events that hit New South Wales and South-east Queensland.

Kimberley Moody, Budget Direct Communications Manager, said Australians now understand the utility of insurance.

The respondents of the survey were picked at random and were not necessarily customers of Budget Direct.

Moody said the next survey could gauge Australians’ attitude towards insurance following the spate of natural disasters that hit the country.

Budget Direct also revealed the damage bill that it has faced from the recent spate of catastrophes, with over 3000 claims reported with damages topping US$22m following the storms in New South Wales.

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