German supermarket chain to offer insurance

The budget retailer is following in the path of Woolworths and Coles to offer car, home contents and landlord insurance as shoppers struggle with rising mortgage and household bills.

Aldi is launching insurance products to cash-strapped shoppers. Picture: Jeremy Piper/NCA NewsWire

Aldi is joining the ranks of Woolworths and Coles to offer home, car and landlord insurance, amid the cost of living crisis.

Backed by Honey Insurance and underwritten by one of Australia’s largest brands, RACQ Insurance, Aldi Insurance is promising to offer “straight forward” insurance products by providing the best value and experience at consistently competitive prices.

Aldi Insurance will have policies for home and contents insurance, comprehensive car insurance and landlord’s insurance.

Supermarket chains have pushed into financial services as well as telecommunications, such as mobile phone plans and internet, to broaden the range of products it can offer consumers who already shop with the store and which then gives the retailer a greater presence in the daily lives of consumers.

Aldi Insurance, a new venture for the Aldi business in Australia, is promising to save customers both time and money and provide clarity in what can be a notoriously complex sector where Aldi Insurance customers can get a quote in three minutes.

Aldi Australia group director Rodney Balech said the retailer was excited to be expanding its ‘Good Different’ offering into new categories, with Aldi Insurance bringing more savings to Australian households amid the cost of living crisis.

“With the launch of Aldi Insurance, we’re bringing our expertise in competitive pricing and quality products to the insurance vertical, while partnering with Honey’s tried and true insurance experience to give customers confidence in the products,” he said.

“We have stripped the complexity out of comprehensive car, home and contents insurance and landlord’s insurance to deliver a straightforward product with exceptional value,” Honey Insurance founder and chief executive Richard Joffe said.