Insurance affordability

Across Australia, one in 20 homes is without insurance, with many thousands of home-owners failing to renew each year.

Amid growing concerns household budget pressures are preventing certain parts of the community from taking out home insurance, IAG undertook an extensive consultation process with welfare and community groups.

This was driven by our belief that insurance should be available to all.

After listening to the community and engaging with community-based organisations, we developed a simplified traditional home buildings product.

InsureLite is an IAG initiative that aims to provide consumers who find the cost of traditional home buildings insurance prohibitive with a viable alternative.

InsureLite has been designed to help consumers keep a roof over their heads if their existing residence suffers significant damage. It also responds to consumers telling us that some cover is better than none.

At this stage, InsureLite will only be offered to Queenslanders. This allows us to listen and engage with customers and the community to get feedback and see how the product might be adjusted to better meet customers’ needs on a wider scale.

InsureLite isn't the solution to affordability. What it does do is provide consumers with an alternative to traditional insurance. It represents one of the many things IAG is working on to increase the accessibility of insurance and help make your world a safer place.

Visit the InsureLite website to learn more.