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ANZ home insurance review
ANZ home insurance includes a safety net to protect you against the under insurance of your home. Plus, your belongings will be covered for accidental damage as standard.
This guide is being updated with new information, thank you for your patience. We don't currently have this brand on our panel. But don't fret! You can head to the ANZ website or compare a bunch of other home insurance companies with Finder.
Accidental damage for your belongings is covered, and automatically included if you choose a policy with contents cover.
You can choose to pay monthly and won't be charged extra.
ANZ doesn't offer discounts for signing up online, unlike other brands.
Review by our insurance and innovations editor Gary Ross Hunter.
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Congratulations, ANZ!
ANZ received the highly commended award for 'Home Insurance - Comprehensive' in the 2023 Product Awards.
ANZ also received the highly commended award for 'Home Insurance - QLD' in the 2023 Customer Satisfaction Awards.
ANZ home insurance cover options
With ANZ, there are 3 core policy options: home and contents cover, buildings insurance, and contents insurance. You can also choose to add optional covers to your policy for greater peace of mind.
These are the key events you'll be covered for with a home insurance policy from ANZ:
ANZ offers a choice of excess, which is what you pay up-front if you need to make a claim. You could reduce the cost of your premium by selecting a higher excess.
Here is a breakdown of ANZ home insurance features
Here are some of the standard inclusions you'll get with an ANZ home insurance policy:
Accidental damage and loss for your contents
New for old contents replacement, regardless of age.
Motor burnout (fusion). For example, if your freezer or air conditioner breaks down.
Legal liability insurance
Accidental breakage, theft and vandalism.
Flood, storm and other natural events. Policies do not cover loss or damage caused by a storm surge that occurs within 72 hours of the start of your policy.
Optional add-ons
To get more protection, you can add these benefits to your policy:
Worldwide portable contents cover
Valuable contents worth over $2,500.
Note that while flood protection is an optional add-on with most other insurers, it comes stock standard with ANZ.
Exclusions
ANZ won't pay a claim for any of the following reasons:
Any event that does not occur within your period of insurance.
Lawful damage, destruction or confiscation of your property.
Action by the sea unless the loss or damage is the result of a tsunami.
Mildew, atmospheric or climatic conditions.
Damage to a heating element; however, ANZ will pay for any loss or damage resulting from damage to a heating element.
Loss and damage caused by erosion, rust, corrosion, gradual deterioration, depreciation, and wear or tear.
Anything nuclear or radioactive.
Read ANZ's Product Disclosure Statement (PDS) for a more detailed breakdown of policy exclusions.
How do ANZ home insurance complaints measure up against some competitors?
We looked at home insurance complaint data from the Australian Financial Complaints Authority (AFCA) between July 2021 and June 2022. Since then, ANZ has changed underwriters. This data explores the former underwriter (QBE Insurance), and compares its 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 a brief summary of how ANZ's underwriter, QBE, did:
It was able to resolve a larger number of complaints directly with its customers compared to other similarly sized insurers.
It only closed out 54.86% of complaints during this period.
How much excess will I need to pay?
You may choose how much excess you wish to pay. By increasing the excess, you can reduce the premium.
You only need to pay the excess once for each claim you make, regardless of the number of items or amount claimed. If your building and contents policies have a different amount of excess, you must pay the higher amount when making a claim on both policies.
If you are making a claim due to loss from an earthquake or tsunami, you must pay an additional $250 excess.
Here's the bottom line about ANZ home insurance
ANZ offers a lot of peace of mind that you'll be able to cover the cost of rebuilding your home if the worst happens. What's more, you can save up to 10% if you hold another home, landlord or car insurance policy.
But the Melbourne-headquartered bank may not offer you the most competitively priced deal on the market. So, you may want compare ANZ home insurance with more home insurance providers.
Why you can trust Finder's home insurance experts
We're free
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 about ANZ home insurance policies
As of 3 July 2023, ANZ have partnered with CGU to offer home, landlord and car insurance. Formerly, it was underwritten by QBE Insurance (Australia) Limited.
ANZ's Target Market Determination (TMD) document outlines customers suitable for its building cover and contents cover separately.
For building cover: Customers within the target market are those who own a residential property in Australia and who want financial protection from insured events. This means that the product isn't suitable for:
People who rent out their home or part of their home for income, and want protection for things like rent loss or rent default.
Customers looking for cover for a short term or casual lease.
Those who use the property as their primary business location with the exception of a home office.
Homes that are getting demolished (or in the process of).
For homes that have been unoccupied for more than 120 days.
Those who want to cover their building which is within a strata type building.
Those who want cover for a property that's not a standard residential home.
Those who live by the sea and want cover for things like high and king tides.
Those who want cover for pre-existing damage and general wear and tear.
For contents cover Customers suitable for this product include those who want insurance for their household contents in their home in Australia. This includes renters and homeowners.
This means that the product isn't suitable for:
Landlords who want to cover their belongings that are kept in a leased property.
Contents stored away from the insured address in a non-commercial storage facility, shed, shipping container or an unoccupied home.
Customers who want contents insurance but live in a non-standard residential property.
Those who want to cover their contents for pre-existing damage and general wear and tear.
Yes, ANZ offers multi policy discounts when you buy 2 or more of its insurance policies. It also offers discounts for customers over the age of 50 and ANZ Breakfree package holders for the first year of their policy.
Generally yes, though there are some specific conditions. The insurance will not cover any events caused within 48 hours of taking out a policy unless you are renewing or have just purchased the property.
No, not with ANZ's home insurance. If you rent your property to tenants, you will need landlord insurance to protect against tenant damage.
You can add on portable contents insurance to a contents insurance policy. By selecting portable contents insurance, your possessions will be covered anywhere in Australia or New Zealand for up to 120 days. Your possessions will only be covered for 25% of their insured value in other countries or after 120 days outside of the home.
To make a claim you can contact an ANZ claim consultant on 13 16 14 or lodge your claim online. You should make your claim as soon as possible as delays may reduce the amount payable to you.
To claim, you may need any of the following:
Proof of ownership
Quotes from a repairer
A police event report number
If you need to make emergency repairs, ANZ can help arrange this through its preferred repairers and suppliers.
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).
Most home and contents insurance policies consider sheds as part of the home. Read our guide on Home and Contents Insurance to see your options here.
For cars in storage, you can refer to our guide here to check which providers are offering insurance cover for unused or laid-up cars.
Before applying for any policy, be sure to read the policy’s Product Disclosure Statement (PDS) so that you’re aware of what you’re covered for, along with any exclusions or restrictions.
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What company insures the contents of my shed where there are unregistered cars being stored
Hi Mark,
Most home and contents insurance policies consider sheds as part of the home. Read our guide on Home and Contents Insurance to see your options here.
For cars in storage, you can refer to our guide here to check which providers are offering insurance cover for unused or laid-up cars.
Before applying for any policy, be sure to read the policy’s Product Disclosure Statement (PDS) so that you’re aware of what you’re covered for, along with any exclusions or restrictions.
Thanks,
James