Budget Direct offers came in at the low-to-mid price range end of home insurance policies on Finder according to our research.
You get 30% off on your first year’s premium for a new combined Home & Contents policy purchased online — out of 7 providers, only Virgin and ING offers a discount as large as this.
Cons
You'll need to pay extra if you want flood cover – with many other insurers, this is automatically included.
Review by our insurance and innovations editor Gary Ross Hunter.
Deal
30% online discount on new home and contents insurance
Receive 30% off your first year's premium when you purchase a new combined home and contents insurance policy online. T&Cs apply.
Budget Direct's won this year's Finder Award for value because it provides a similar level of cover to other brands but at a lower price. According to our 2023 research, the average policy costs $1,365 per year. That's cheaper than 20 other insurers including QBE, Kogan and Youi.
Home insurance customer satisfaction finalist - National
Budget Direct was the second most popular home insurance brand surveyed. It's one of the cheapest home insurers on the market and gained an overall score of 4.3/5.
It's underwritten by Auto & General Insurance Company Limited. Like with most insurers, you'll need to pay an excess when you make a claim – you can choose between 2. Policies come with a cooling-off period of 21 days, which is the industry standard. This means if you want to cancel within the first 3 weeks of taking out a policy, you won't be charged as long as you haven't made a claim.
If you want more information on what's covered, you can see Budget Direct's product discloure statement (PDS) or check out our guide on general insured events.
We highlighted some benefits that Budget Direct will cover after it has agreed to pay out a claim from an insured event. For example, if a theft (insured event) happens at your home, you could claim the expense of replacing your locks (feature).
Replacement of locks
Open air contents cover (cover for contents out in the open at your home)
Temporary accommodation costs
Unattached equipment cover
Uninsured guests' contents cover
Contents while moving address
Mortgage discharge costs
Legal liability cover
Optional add-ons
Looking for a more tailored policy? Budget Direct offers the following optional add-ons for an extra fee.
Accidental damage
Flood cover
Sum insured safeguard
Personal effects cover
Motor burnout cover
Commercial storage
Tenant default cover (landlord cover only)
Theft and malicious damage by tenant cover (landlord cover only)
Exclusions
Here are some of the main exclusions from a Budget Direct home insurance policy. This means you won't be covered for any damages, repairs or legal liability that could arise.
Floods (unless you take out the optional add-on)
High tides (or any other action of the sea)
Wear and tear
Tree lopping or felling
Loss or damage caused by insects, birds, vermin or rodents
Underground water seepage or pressure
Loss or damage resulting from business purposes
Illegal acts or omissions
You can find a full list of exclusions in Budget Direct's PDS or find more information on general exclusions here.
How many complaints does Budget Direct home insurance have?
We looked at home insurance complaint data from the Australian Financial Complaints Authority (AFCA) between July 2022 and June 2023. The data breaks down different underwriters and compares their business size to the number of complaints processed.
When comparing insurers, keep in mind that insurers with a larger market share serve more customers, so can potentially get more complaints.
Here's an overview of how Budget Direct (Auto & General) did:
Budget Direct has significantly less complaints lodged compared to other similarly sized insurers.
Out of the 21 complaints it received, 12 had to be escalated. This isn’t bad compared to other insurers but it shows it’s not perfect.
When comparing insurers, keep in mind that insurers with a larger market share serve more customers and potentially get more complaints.
Here's the bottom line about Budget Direct home insurance
Budget Direct is one of Australia's most popular home insurers for a reason – it's one of the cheaper providers around. However, if you want cover for floods or accidental damage, you'll need to pay extra.
To compare Budget Direct's home insurance policies side-by-side with other providers, you can head here.
You pay the same as buying directly from the home insurer. Better still, we regularly run exclusive deals that you won't find on any other site – plus, our tables make it easy to compare policies.
Unlike other comparison sites, we're not owned by an insurer. That means our opinions are our own and we work with lots of home insurance brands, making it easier for you to find a good deal.
We're here to help
Since 2014, we've helped 150,000+ people find home insurance by explaining your cover options simply and clearly. We'll never ask for your number or email. We're here to help you make a decision.
Frequently asked questions
To be eligible, you need to be at least 16 years of age, have an Australian mailing address and reside or own property in Australia. There is no cover for:
People with homes in the Northern Territory or above the Tropic of Capricorn (not including the Greater Rockhampton area)
Hotels and similar multi-occupancy dwellings
Caravans, cars, trailers or mobile homes
Homes that have asbestos roofs
Homes that are under construction and not at lock-up stage
Anyone who has been convicted of arson or fraud
To make a Budget Direct home insurance claim, follow these 4 steps:
Take all reasonable steps to prevent any further loss or damage occurring. Any incidents involving theft or malicious damage should also be reported to the police.
Contact the underwriter as soon as possible to provide the full details of your claim.
Provide evidence of the value or your ownership of the items or property that have been lost, stolen or damaged. You'll need to give the underwriter the opportunity to inspect the damaged goods or property. You also have to supply any other information or documentation they request to process your claim.
Submit your claim and wait for it to be processed.
You can call Budget Direct at 1800 069 336 for more information on how to make a claim.
Yes, Budget Direct home insurance offers flood cover, but only if you purchase it as an optional extra.
Yes, the replacement value of your jewellery is included in contents cover when your jewellery is at home. If you want coverage for your jewellery away from home, you'll need to add personal effects cover to your policy.
Yes, but you'll need to pay extra for it. Motor burnout covers loss or damage to electric motors where:
The burnout is caused by power surge or electric current
The motor is burned out at home
Budget Direct home insurance covers loss or damage to these items if they're damaged in the home by an insured event like a fire, storm or burglary.
Leave a Budget Direct home insurance review
If you've held, or currently hold, a Budget Direct home insurance policy, we'd love to hear from you. Your reviews help other Australians decide if Budget Direct is right for them. Some reviews are from a survey commissioned by Finder.
Gary Ross Hunter is an editor at Finder, specialising in insurance. He’s been writing about life, travel, home, car, pet and health insurance for over 6 years and regularly appears as an insurance expert in publications including The Sydney Morning Herald, The Guardian and news.com.au. Gary holds a Kaplan Tier 2 General Advice General Insurance certification which meets the requirements of ASIC Regulatory Guide 146 (RG146).
Construction insurance can offer protection that includes legal liability for workers in your home. It can be arranged pre-project or taken out as an annual policy. Here are more details.
You may want to speak to an insurer directly to confirm they’ll cover open home visits. If they won’t, you may need to find specialist cover.
No, Flood is not included on any of Budget Direct’s policies but you may have it added as it is one of their optional benefit. Also, each of their policy has an ‘Escape of liquid’ which will cover the damages caused by burst or leaking water pipes and overflowing sinks, basins, baths and appliances.
You may see other brands that offer this type of home insurance from the link above. You can press the “Get a quote” button to compare quotes from different insurers.
I hope this helps.
Please feel free to reach out to us if you have any other enquiries.
I am looking to insure a family home that was built in 2000, in Sunshine West, Vic, 3020. I have been insured with API Insurance for the last 10 years and have not claimed for anything for over 10 years. Recently APIA increased the premium to $55 a month, I decided to look for a home insurance at a cheaper rate with any suitable insurance agent.
Your help in recommending a cheaper and reasonable home insurer is appreciated.
Ideally, it’s good to continue with the insurance company you are currently with since you’ve been with them since 2000. To understand why your home insurance has become more expensive, you may want to refer to our guide on home insurance cost across Australia. The page also provides tips to reduce your house insurance cost.
If you are decided to change providers, you may compare your options from our list of cheap home insurance. On the page is a comparison table you can use to see which insurer suits you. You can start comparing quotes between insurers by clicking on the “Get a quote” button.
As a gentle reminder, please ensure you review the relevant Product Disclosure Statements/Terms and Conditions before purchasing a policy.
Hope this helps! Feel free to message us anytime should you have further questions.
Thanks for getting in touch with finder. As I read, you mentioned that you are looking for a home insurance. Would you mind letting us know exactly how we can help you further?
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I would like to know if you offer third-party injury insurance for untenanted properties, e.g. for work by tradespeople and during home opens.
Hi Julie,
Construction insurance can offer protection that includes legal liability for workers in your home. It can be arranged pre-project or taken out as an annual policy. Here are more details.
You may want to speak to an insurer directly to confirm they’ll cover open home visits. If they won’t, you may need to find specialist cover.
Regards,
James
Is accidental damage caused by flooding covered? ( Such as from forgetting bath taps on)?
Hi Anna,
Thanks for contacting Finder.
No, Flood is not included on any of Budget Direct’s policies but you may have it added as it is one of their optional benefit. Also, each of their policy has an ‘Escape of liquid’ which will cover the damages caused by burst or leaking water pipes and overflowing sinks, basins, baths and appliances.
I hope this helps.
Cheers,
Ash
Do you offer renters insurance for a situation where I share my house with tenants?
Hi Louise,
Thank you for getting in touch with Finder.
Insurers like Budget Direct offer renter’s insurance for shared accommodation.
You may see other brands that offer this type of home insurance from the link above. You can press the “Get a quote” button to compare quotes from different insurers.
I hope this helps.
Please feel free to reach out to us if you have any other enquiries.
Thank you and have a wonderful day!
Cheers,
Jeni
Dear sir/madam,
I am looking to insure a family home that was built in 2000, in Sunshine West, Vic, 3020. I have been insured with API Insurance for the last 10 years and have not claimed for anything for over 10 years. Recently APIA increased the premium to $55 a month, I decided to look for a home insurance at a cheaper rate with any suitable insurance agent.
Your help in recommending a cheaper and reasonable home insurer is appreciated.
With kind regards,
G. Seifu
Hi G,
Thanks for your message and for visiting Finder.
Ideally, it’s good to continue with the insurance company you are currently with since you’ve been with them since 2000. To understand why your home insurance has become more expensive, you may want to refer to our guide on home insurance cost across Australia. The page also provides tips to reduce your house insurance cost.
If you are decided to change providers, you may compare your options from our list of cheap home insurance. On the page is a comparison table you can use to see which insurer suits you. You can start comparing quotes between insurers by clicking on the “Get a quote” button.
As a gentle reminder, please ensure you review the relevant Product Disclosure Statements/Terms and Conditions before purchasing a policy.
Hope this helps! Feel free to message us anytime should you have further questions.
Regards,
Nikki
I looking a home insurance
Hi Faiyaz,
Thanks for getting in touch with finder. As I read, you mentioned that you are looking for a home insurance. Would you mind letting us know exactly how we can help you further?
Thank you.
Cheers,
Jeni