Why we rate?

The reality is that not all Insurers are the same. Just like the policies they sell which range from broad coverage to very narrow cover, claims departments react differently. Some provide the very highest level of customer service while others move the Insured from a customer to a cost centre the moment a claim occurs.

While far too many people focus on price when it comes to insurance, this in reality is of little consequence when it comes to making a claim. When a loss occurs, what really matters are:

  • The coverage afforded by the policy – does the policy cover my loss?

  • The financial strength rating of the Insurer – will they have the funds to meet my claim promptly, particularly at the time of a natural disaster where many customers are claiming? and

  • The Claims Service provided by the Insurer.

LMI PolicyComparison has been providing comparisons of the features and benefits of policies in a wide range of general insurance products for over 10 years to the point where it has become a highly trusted resource which is relied upon to understand the differences between policies.

The issue for the typical Insured or Insurance Broker is how do you find out before you have a claim what the claims service is likely to be? Obviously, it is too late afterwards. With this in mind, we now bring you LMI ClaimsComparison where we rate claims service of the major Australian Insurers.

There are 2 other reasons that we provide this service.

  1. We wish to acknowledge and congratulate the claims departments that are doing the right thing for their clients and brand insurance. It is with this in mind that LMI will award a Claims Excellence Award each year to the Claims Department that rates highest in each category.

  2. We hope that by making the ratings freely available it will drive positive change in customer service for the good of the insuring public.

LMI - Experts in general insurance. That's our claim!