A Queensland home and contents insurance policy can protect you financially when something unexpected occurs, whether that's theft, accidental damage or Queensland's often unpredictable weather.
Bushfires, cyclones and storms are not rare occurrences in the sunshine state, so protecting yourself with home and contents insurance is a smart way to ensure you won't suffer financially when the next big thing hits.
The Finder Customer Satisfaction Awards recognise Australia's favourite brands across a huge number of categories. We survey thousands of real Australians to understand how they feel about their recent product purchases, and use that information to reward the most popular brands.
Here is the 2021/2022 winner and finalists for home insurance in Queensland.
It's hard to say who's going to be the best for everyone, because it's entirely dependent on your living situation. However, to help you make a decision, here are the top 3 popular brands that people choose from Finder when looking at home insurance for Queensland.
A study by finder.com.au found that damage from major cyclones from 2011-2016 resulted in more than $1.4 billion worth of uninsured losses, or 57% of the overall cost. Given how Queensland is prone to natural disasters, it's more important than ever for people to protect their property.
Here are just a few reasons why purchasing home insurance is a great idea for those in Queensland:
There are several factors you need to take into account when choosing home insurance in Queensland.
Some of those factors are down to you personally, such as how much cover you want and how much you’re willing to pay for home insurance.
However, other factors will vary depending on where you live in Queensland. For example, if you live in Far North Queensland, you should have a policy that provides protection against loss or damage by tropical cyclones.
In parts of the state’s south-east where severe storms are a common threat during spring and summer, you’ll want to ensure that you have adequate protection against storm damage. And if you live close to the Brisbane River in a low-lying suburb, flood cover is a must.
Apartment owners also have slightly different cover needs to those who live in detached houses, so it’s important to carefully assess your cover requirements before choosing a policy.
It's the same as any other state. Queensland homeowners can choose from three types of home insurance:
Home insurance
Also known as building insurance or building-only cover, this type of policy provides cover for your home and other fixtures on your property against damage from fires, storms, theft, vandalism and more.
Contents insurance
Contents insurance provides cover for your possessions and household items against the same risks as building-only cover.
Home and contents insurance
Home and contents insurance combines the benefits of the two policies above to provide comprehensive protection for your building and your possessions.
We should look at Northern Australia and Northern Queensland as the canary in the coal mine, in the sense that climate change has been coming for a long time in these areas. These insurance price rises have been coming for a long time as well. And we've been consistently looking the other way.
Several competing factors affect the cost of home insurance in Queensland. So it's hard to give you an actual estimate for your home insurance policy because the price will differ for every home.
Instead, we collected a bunch of quotes for a home in Queensland so that you can at least get a rough estimate of what you could pay. If you live in North Queensland, you might notice a higher premium than these.
Here's our brief criteria:
| Brand | Building & Contents | Contents only | Building only | Get quote |
|---|---|---|---|---|
 | $128.27 | $41.15 | $114.46 | Get quote |
 | $148.18 | $30.30 | $117.87 | More info |
 | $129.59 | $41.61 | $115.50 | More info |
 | $169.20 | $61.86 | $126.15 | More info |
 | $244.47 | $87.13 | $213.43 | More info |
 | $92.55 | $31.24 | $82.55 | More info |
 | $169.20 | $61.86 | $126.15 | More info |
 | $129.58 | $41.60 | $115.50 | More info |
 | $226.51 | $84.04 | $145.71 | |
 | $211.17 | $57.51 | $180.05 | More info |
 | $200.67 | $54.54 | $171.21 | More info |
 | $142.28 | $85.23 | $120.16 | More info |
 | $198.00 | $55.00 | $165.00 | More info |
 | $145.65 | $46.69 | $129.41 | Get quote |
 | $176.09 | $48.62 | $152.63 | More info |
 | $175.35 | $44.38 | $152.55 | Get quote |
While the core advice around insurance is the same for everyone, it's worth emphasising a few important considerations for people in high-risk areas.
No matter where you live, it is always a good idea to find a policy that is suited to your specific geographic conditions. This is especially important for people in high-risk areas given the strength of the local weather events and the magnitude of potential loss.
Here are some common weather events and where they are likely to occur. Double check that your policy covers these events, because not all policies cover all weather events:
Australian home insurance providers usually aren’t state-specific, which means Queensland homeowners can access cover from an extensive range of trusted insurance brands. If you want to dive deeper into a specific company, we've got reviews for some of the main insurers available in Queensland:
Before choosing any home insurance policy, make sure you read the list of general exclusions for details of when your policy will not provide any cover. The following exclusions are fairly common:
It’s also important to be aware that stamp duty is charged on home and contents insurance premiums in Queensland at a rate of 9%. Remember to factor this into your equations when working out the total cost of cover.
If you live north of Rockhampton, you would be familiar with crazy weather conditions that can cause significant damage to your area. Whether it is a tropical cyclone, flooding or heavy storms, these sorts of events could cause you some strife, so finding the right home and insurance for you will help you on your feet again
Many insurers will cover North Queenslanders, but the cost will probably be higher than other parts of Australia, due to the area being high risk for weather damage. It's good to be prepared well ahead of time, as most insurers have a 72 hour period without cover immediately after purchasing. Asking for quotes from a number of insurers will help you compare prices, and some insurers may even match or beat the cost of other companies, which is great for your hip pocket.
You may find an insurance broker helpful to discover a home insurance policy that covers all the intricate details you need for your property in North Queensland. Insurance brokers are the experts in this area, and it's their job to provide insurance advice that's in your best interest, allowing you to make an informed decision and find the policy that's right for you.
As a high-risk zone, there are several severe weather events that you should be covered for if you're living in North Queensland, including loss or damage from cyclones, floods and storms.
Ensure you're covered for these extreme weather events with your home and contents policy, including flood cover. Some policies do not automatically cover this scenario and it may raise your premiums further, but it's one of the most important weather events to protect yourself from in flood-prone North Queensland. Again, this may be where an insurance broker comes in handy, as they will be able to pinpoint items or scenarios that need cover that you haven't thought of. Double check the policy exclusions, and if there's something your excluded that you feel you need, see if you can add it on as an extra before purchasing.
Your policy will most likely cover you for financially for other situations too, including theft, fire, vandalism, explosions and accidental damage.
Due to the frequency of natural disasters, you may find you have to pay more for your premiums. North Queenslanders pay one of the highest premiums for home and contents insurance in Australia because of cyclone risk. As insurers pay out large sums of money for previous events, annual premiums go up.
Strengthening components of your house can reduce insurance premiums, such as strengthening roofs to protect from wild elements, protecting windows or updating old homes to meet modern building codes.
Honey home insurance offers mid-priced coverage at a good range of benefits. It also gives smart sensors to customers, to help minimise risk.
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