Top tips for saving on your insurance

Entrepreneur Ruslan Kogan's entrance into the insurance market has prompted experts to recommend Australians "shop around" to make sure they're not overspending.

Mr Kogan, founder and CEO of Kogan.com, told A Current Affair the new insurance arm of his business was backed by Hollard Insurance.

He also agreed it was important for people to ensure they were making the right purchase.

"Our goal is to let people know, 'hey, you've got options'," he said.

Mr Kogan said home and contents insurance and car insurance were the most popular with customers.

Finder.com.au insights manager Graham Cooke said the increasing amount of insurance options on the market was a good thing for customers.

However, this meant people had extra legwork to do to ensure they were getting the best deal for them.

"Insurance is all about being able to sleep at nigyht and knowing that you've done your best that tomorrow is at least as good as today," he said.

He said people should keep an eye out for bonuses such as those offered by AAMI, which provides discounts to people who have completed driver safety courses.

People can save on their home insurance bill by investing in security measures such as deadbolts, double-glazing and a house alarm.

Hr urged people to conduct their research and do their shopping online.

"The benefit of shopping online is that you can see right in front of you, all the details of your policy, rather than just being told that over the phone," he said.

"So it's a lot easier to see the details and to make sure you're getting covered for what you need and you're not paying more than you need to."