If you want to avoid a big annual bill, you can pay monthly at no extra cost instead.
Finder cost research indicates HSBC's pricing is slightly cheaper than average.
Allianz, the provider of HSBC's home insurance, won a range of Finder's customer satisfaction awards.
Cons
There's no choice to add underinsurance protection, a popular benefit offered by around 40% of insurers.
HSBC's two-week cooling off period is shorter than most, with some brands offering up to 30 days.
There is some ambiguity over certain benefits, including "reasonable costs" for home office contents.
How does HSBC compare with other popular providers?
Price
Finder cost research indicates that, on average, an HSBC home insurance policy is around $2,760 a year - that's around lower than the market-wide average of $2,780. However, the price of your own policy could be vastly different, as quotes are based on the specific details of your home.
These products offer a balance between low pricing and more features.
7+
Great
Competitive products within their group.
5+
Standard
Usually these products would either have fewer benefits or higher pricing.
0+
Basic
Offering basic cover with limited features or higher pricing.
Finder Score - Home Insurance
We crunch eligible home insurance products in Australia to see how they stack up. We rank over 50 products on 16 different features, including price. We end up with a single score out of 10 that helps you compare home insurance a bit faster. We assess home and contents, building only and contents only products individually.
HSBC offers a range of optional covers that you can add to your home or contents insurance, including:
Accidental damage: Available for both buildings and contents, this add-on protects you if something is damaged or destroyed unintentionally. For example, spilling a tin of paint on your carpet or denting a door frame while moving furniture.
Motor burnout: Available for both buildings and contents, this covers repair or replacement if an electrical current damages your household electrical motors.
Domestic workers' compensation: Only offered in Tasmania, WA and the ACT, this covers you if a domestic worker is injured or falls ill due to the work they performed at your home.
Portable contents: Available for both buildings and contents, this covers loss or damage to personal items that typically leave your insured address, such as a handbag or musical instrument.
How to make a claim
To lodge a home or contents claim with HSBC, you can complete the secure online claim form and a representative will get back to you. Alternatively, you can call the claims call centre on 1300 555 030 to submit your claim.
HSBC home insurance complaints information
HSBC home insurance is provided by Allianz Australia Insurance. In the 2023-2024 financial year, the Australian Financial Complaints Authority (AFCA) received 760 complaints in relation to Allianz' home building insurance and 103 in relation to its home contents insurance. However, the insurer is one of the largest in the country and its complaints numbers are similar to that of other very large insurers, including QBE, which received a combined 813 complaints for its home and contents cover.
FAQs
HSBC home insurance is underwritten by Allianz Australia Insurance, one of the largest insurers in the country.
HSBC's pricing is below the industry average but it still offers a solid range of benefits. Check the PDS to see if it's right for you.
Nicola Middlemiss is a journalist with nearly a decade of experience in personal finance and insurance. She has contributed to Domain, Yahoo Finance, Money Magazine and Insurance Business Australia, offering in-depth insights into commercial insurance in the Australian market. Nicola holds a Bachelor’s degree in English from the University of Leeds and a Tier 1 General Insurance (General Advice) certification, which complies with ASIC standards.
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