The 10-minute spring check that could cut your insurance bills
Key takeaways
- 38% of Aussies don't feel they're getting value from their health insurance policy, according to Finder's 2026 Health Report.
- The same set-and-forget habit costs across every policy: switching health funds can save $200 to $400 a year, and ASIC found 31% of drivers who challenged their car premium got it reduced without changing their cover.
- What's next: Spring is the ideal time to spend five minutes on each of your insurance policies, checking whether your cover still fits and if there's a better deal.
When was the last time you took a look at your health insurance policy or did a quick check to see if your car insurance deal was still competitive?
Most of us set a policy once and let it roll over year after year, continuing to pay for cover that no longer fits.
With spring right around the corner, now is the perfect time to check you're not overpaying.
Here's how to give your four most common policies a quick once-over and unlock the savings that come with switching to a better-value deal.
Health insurance: are you paying for cover you never use?
According to Finder's 2026 Health Report, 38% of Aussies say they don't feel they're getting value from their policy.
Despite feeling underwhelmed by their cover, Finder found that only 16% of Aussies have switched their health insurance in the last 6 months, meaning a whopping 84% could be missing out on a better deal.
Your homework: Check your policy's tier and review what you actually claimed in the past year, compared your premium cost. You might find it's time to downgrade, upgrade or switch to a better deal. Switching is easier than most expect, as funds generally recognise waiting periods you've already served if you're moving to an equivalent level of cover.
Car insurance: don't just click renew
Car insurance is one insurance that's easy to set and forget. While it feels convenient to let your car insurance tick over year after year, it won't be long until your premium becomes unrecognisable.
Earlier this month, ASIC found that none of the major insurers it reviewed clearly explained why premiums had gone up at renewal, leaving customers unable to tell whether a price hike was fair.
Your homework: Find out how your policy stacks up against current deals in the market. We recently ran a real-life scenario of 2 comprehensive car insurance policies that share similar features. One was priced at $1,216, the other was $971.72 — $244.28 less.
So compare your options and gather at least 3 quotes. Then, call your insurer to ask whether they'd be willing to negotiate on your premium. If that doesn't go to plan, consider it your sign to switch.
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Home insurance: check you're not underinsured
Not regularly reviewing your home insurance generally comes with two risks: overpaying and staying underinsured. Building costs have climbed in recent years, which means the sum insured you set two or three years ago may no longer cover what it would actually cost to rebuild or repair your home today.
Our research found 87% of Aussies haven't switched their home and contents insurance policy in the last 6 months, leaving millions of Aussies at risk of underinsurance.
Your spring clean: Review your sum insured against current rebuild costs. Most insurers have a calculator on their website that you can use to take fresh stock of high-value contents you've bought in the past year. If your policy could do with a refresh, shop around on policies before approaching your insurer.
Pet insurance: does your excess still make sense?
Our last insurance on the list has everything to do with our fur babies. Depending on the age of your pet and whether they've developed any conditions since you brought them home, you might be in a position to opt for a cheaper pet insurance policy.
It's also easy to be paying for a level of cover, or an excess, that doesn't match how you actually use the policy.
Your homework: Review your product disclosure statement and check what's still covered. Adjusting your excess is one of the simplest ways to bring a premium down as well as downgrading your annual limit or switching to an accident-only policy.
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