Australia Post Home Insurance Review

What Australia Post home insurance covers

Australia Post offers three home insurance cover options: Home Insurance, Contents Insurance and Home and Contents Insurance. Each of these policies is underwritten by QBE Insurance (Australia) Ltd, one of the world's top 20 general insurance and reinsurance companies.

Here's a short overview of the main insured events it covers:

Cooling off period

All policies come with a 21 cooling off period which is standard among most insurers. This means if you take out a policy but change your mind and want to cancel, you can do so within three weeks and you won't be charged, so long as you didn't make a claim.

Excess

In most cases, you'll also need to pay an excess when you make a claim e.g. contribute towards the cost of a claim Aus Post agree to pay. Several excesses may apply depending on what you are claiming for – for example, Aus Post has a renovation and unoccupied property excess.

An overview of Australia Post home insurance features

Aus Post home insurance complaints

We looked at home insurance complaint data from the Australian Financial Complaints Authority (AFCA) between July 2020 and June 2021. 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 Australia Post (QBE Insurance (Australia) Limited) did:

• A large percentage of complaints were closed with QBE compared to other very large insurers such as Allianz and Youi.
• QBE received a larger number of complaints compared to other similarly sized insurers.

Bottom line about Aus Post home insurance

Australia Post home insurance is ideal if you want an insurer that automatically comes with a sum insured safeguard and lots of inclusions you don't need to pay extra for. However, there's no guarantee Aus Post's good customer service and complaints record will continue now that it's underwritten by QBE.

If you aren't ready to take out a policy and want to compare more home insurance policies side-by-side, head to our home insurance page.

FAQs about Australia Post home insurance

• How do I make a claim with Australia Post home insurance?

  As soon as you can after the incident, call 13 70 11 to make your claim, or lodge it online here. Here are the steps you should take when making an Australia Post Home Insurance claim:

  1. Take immediate steps to minimise damage. If your home or contents suffer loss or damage, or if an incident occurs that may lead to a claim, you must take all reasonable steps to prevent any further loss, damage or liability from occurring. Any incident involving theft or malicious damage should also be reported to the police as soon as possible.
  2. Contact your insurer. Next, contact your insurer and provide the full details of what has happened. You'll need to provide evidence of the value and of your ownership of the goods or property that has been lost, stolen or damaged. The insurer will also need to inspect the damaged goods or property before any repairs or disposal can be arranged.

• Do I have to pay an excess when I make a claim with Australia Post?

  Yes, you'll have to pay an excess whenever you make a claim. This can include a basic excess, an imposed excess (depending on your claims history), a renovation, alteration, addition or repair excess and an unoccupied property excess.

• Who is the underwriter for Australia Post home insurance?

  Australia Post home insurance is now issued and underwritten by QBE.

• Who's eligible for Aus Post home insurance?

  Aus Post policies are suitable for the following people

  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 wan't 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 cover their contents for pre-existing damage and general wear and tear

A note about Australia Post home insurance reviews

If you've held or currently hold a Australia Post home insurance policy, we'd love to hear from you. Your reviews help other Australians decide if Australia Post is right for them. Some reviews are from a survey commissioned by Finder.

Australia Post home insurance is good if you want an environmentally conscious insurer that uses AI technology to process your claims faster.