A survey by ANZ has found the take-up of general insurance products remains strong.

The latest ANZ Survey of Adult Financial Literacy found 79% of respondents had building insurance and 75% contents policies.

ANZ spoke to 3502 people with 64% in capital cities and the rest in regional Australia.

The bulk of people surveyed (90%) also had comprehensive car insurance, while 8% held only third-party cover.

The survey also looked at how much consumers understand insurance products. It found 47% thought an insurance claim could be refused if they didn’t make accurate disclosure of relevant facts. This was down from 54% in the 2008 survey.

More people (74%) were aware of the cooling-off period for home and contents policies in  this year’s survey, compared to the 2008 result of 68%.

The survey says consumers are keen to shop around for motor policies (55%), although 34% said they only consider one insurer when making a choice.