IAG-owned NRMA is the most trusted insurance brand, placing ninth in a muti-industry top 20, according to market research group Roy Morgan.

RAC and RACQ – motoring clubs that also offer insurance – rank 17 and 20 respectively.

Bunnings tops the list, followed by fellow retailers Aldi and Kmart.

The latest brand trust rankings cover the year to March and are based on responses from about 2000 Australians every month.

Respondents who trust insurers cite peace of mind, positive claims experiences and clear information about what is covered.

Those who distrust insurers say policy documents contain too many clauses that give companies an out when claims are made; insurers will use any loophole to deny claims after charging huge premiums; and insurance costs a lot.

“While many general insurers … are currently more trusted than distrusted, the industry overall is brought into net distrust territory by some insurers that are more distrusted and large amounts of distrust in the industry in general,” Roy Morgan CEO Michele Levine told insuranceNEWS.com.au.

“Many Australians tell us they distrust ‘insurance companies’, often without specifying which ones.

“While many general insurers maintain more trust than distrust, this industry distrust is still of concern and should be on the radar of all insurance firms.”