Regional Queensland specialist, Sure Insurance, says significant numbers of its policyholders have adjusted their home premium payment schemes to accommodate increased cost-of-living pressures.

The insurer says rising mortgage interest rates, utility and grocery cost increases, and inflation have contributed to constraints that have seen homeowners move to monthly insurance plans.

Sure MD Bradley Heath says nearly three-quarters of all its customers have moved to pay-by-the-month schemes, with the number expected to rise.

“As cost-of-living pressures further increase we expect even more of our home and contents policyholders to opt into this completely free and convenient premium pay method,” Mr Heath said.

Sure says it has provided its customers with several remedies to alleviate increased financial pressures, including a home mitigation discount for policyholders who have purchased cover for weather-related damage.