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BankSA Home Insurance

Whether you’re a renter or homeowner, find out how BankSA Home Insurance can protect your home.

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Our verdict

  • BankSA includes flood cover as standard on all its policies – a plus because many other providers charge extra or include restrictive exclusions.
  • You can choose to pay your premium monthly and not be charged extra.
  • While BankSA may offer 2 attractive sign-up deals, its 10% policy saving for combining home and contents insurance doesn't get close to Budget Direct's saving of 30%.

What does BankSA Home Insurance cover?

BankSA Home Insurance offers 3 main policy types to suit most Australians: building insurance, contents insurance and combined home and contents insurance. You can also find cover for both landlords and renters.

Some main events covered by BankSA Home Insurance include the following:

BankSA Home Insurance is issued by Allianz Australia Insurance Limited, one of the biggest insurance companies in Australia. It offers customers the choice of their excess amount (from $500 to $10,000) and has a cooling off period of 14 days.

Here's the rundown of a BankSA Home Insurance policy

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Standard features

These are some of the standard features that you can claim from BankSA if an insured event causes damage or loss.
  • Alternative accommodation for you and your pets
  • Building code compliance costs
  • Debris removal
  • Emergency contents storage
  • Food or medicine spoilage
  • Guest, visitor, domestic helper or workers property
  • Moving house
  • Rebuilding and professional fees

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Optional add-ons

BankSA Home Insurance offers a range of optional covers you can add to your policy for an additional premium.
  • Accidental damage cover
  • Motor burnout cover
  • Domestic worker's compensation cover
  • Portable contents cover

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Home insurance policies are usually very clear about what they will and won't cover. You can find a list of general exclusions that apply to BankSA's home insurance in its product disclosure statement (PDS). Here are a few of the key exclusions to be aware of:

  • Actions of the sea
  • Deliberate, intentional, malicious or criminal acts
  • Inherent defects including faulty design
  • Insects, birds and vermin including native animals
  • Lost property
  • Rust, damp or chemical damage
  • Soil movement
  • Wear and tear

Make sure you read BankSA's PDS for a more detailed breakdown of exclusions. You can also head to our general exclusions guide for more information.

Here's some information on BankSA Home Insurance complaints

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 BankSA (Allianz Australia Insurance Limited) did:

  • Allianz is categorised by AFCA as a very large general insurer, which means it's normal to see a large number of complaints. Comparatively, it received much less than insurers of similar size like QBE.
  • It does, however, have a lower percentage of complaints that were resolved at the first stage of the complaints process.

Why you can trust Finder's home insurance experts


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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.

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2 Responses

    Default Gravatar
    PeterDecember 9, 2021

    I would like to be advised what current insurance policies I have with BANKSA.

    I have miss placed my insurance file. Could you please advise me what current insurance policies I have with BANKSA , vehicle and or buildings. Thank you

      JamesDecember 18, 2021Finder

      Hi Peter,

      You can reach out to BankSA directly to inquire about your policies. You can call them at 1300 656 345. You can also visit their Contact Us page for more information.


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