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Commonwealth Bank ranked number one by Cannex for home and contents insurance

13 October 2009: For the second year running, the Commonwealth Bank’s Home and Contents Insurance has been awarded the top score for outstanding value by CANSTAR CANNEX, measured against its competitors across Australia.

In a year that has seen extreme weather events including the worst natural disaster in Australian history – the Victorian bushfires – choosing the right home and contents insurance has become even more important. The opinion of an objective third party such as CANSTAR CANNEX is a valuable source of information for customers wishing to make the right choice for their circumstances.

“I am delighted that CANSTAR CANNEX has yet again recognised our Home and Contents cover to be of outstanding value nationally. CANSTAR CANNEX has a solid reputation for making it easier for customers to compare products, particularly in relation to markets that are highly competitive such as home and contents insurance,” said Paul Rayson, Managing Director of CommInsure, the insurance arm of the Commonwealth Bank.

The second annual report saw CANSTAR CANNEX compare 32 insurers, 54 policies and over 15,000 individual quotes across the six Australian states. Commonwealth Bank and CGU were named joint winner on the national award for home and contents insurance.

Competitively priced, the Commonwealth Bank takes a tailored approach to determining each customer’s home insurance premium; for example, the flexibility of removing cover to reduce your premium, or add cover options and pay an extra premium. Customers can choose from a variety of excess options. Furthermore, customers have the option to pay by the month at no additional cost.

The Commonwealth Bank’s Residential Home Package includes three types of cover: building, contents and personal valuables cover.  The Investment Home Package was designed with landlords in mind and covers events such as loss of rent.  Each type of cover within the two packages can be taken out separately or in combination.

 To find out more about insurance at the Commonwealth Bank please call 13 24 23, drop into a branch or visit www.commbank.com.au

 

For more information contact:

Caroline Regidor

(02) 9303 7008

 

Facts about CommInsure

  • CommInsure has over three million customers across its Life and General Insurance businesses.
  • CommInsure is Australia’s largest life insurer. It is the fifth largest home insurer in Australia.
  • CommInsure has national five-star ratings for all of the general insurance products that are rated by CANSTAR CANNEX – home and contents as well as motor insurance.

 

The issuer and insurer of Home and Contents and Car Insurance is Commonwealth Insurance Limited ABN 96 067 524 216 AFSL 235030 (CIL) and Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 is an arranger of the insurance.   Product Disclosure Statements issued by Commonwealth Insurance Limited for Home and Contents and Car Insurance are available by calling 13 24 23 and should be considered in making any decision about these products.  You should consider whether or not these products are appropriate for you.

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