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Best home insurance

To help you find the best home insurance in Australia, we researched 60+ policies and picked 5 based on value, features, price and more.

Top pick:
Value
Finder AwardBonus
  • 2023 Finder award winner for value
  • Cheaper than many competitors
  • Fire, storm and theft cover
Top pick:
Floods
Green CompanyBonus
  • Save up to 20% when you buy online (T&Cs apply)
  • Cover for storms, fires, theft, floods and more
  • Finder’s Green Insurer of the Year 2023
Top pick:
Price
Best Rated Brand
  • On average, the cheapest home and contents policy
  • Cover for natural disasters
  • Flood damage automatically included
Top pick:
Comprehensive
Finder AwardBonus
  • Finder Award Comprehensive winner
  • Gives you $250 worth of smart sensors
  • Actively helps you prevent accidents and claims
Top pick:
Perks
BonusFinder Award Finalist
  • Earn Qantas Points when you sign up
  • Earn 1 Qantas points for every $1 of premiums
  • Combined discounts available

Get help finding the best home insurance in April 2024

Our insurance team has gathered 310+ quotes from some of Australia's most popular home insurance providers.

The shortlist below is based on 2023 Finder Awards, AFCA complaints, customer reviews and other important factors, particularly during summer, such as flood and bushfire cover.

All the policies in this guide can pay to repair or rebuild your home and its contents if it's damaged by an insured events such as a fire, bushfire or storm. Remember, there's no single best home insurance policy that suits everyone's needs, since we all have different budgets and priorities.

Why you can trust our research

68 home and contents insurance policies analysed

310+ prices gathered

100+ hours of research

Gary Ross Hunter
Expert picks selected by Gary Ross Hunter – insurance and innovations editor at Finder

Best for value: Budget Direct home and contents insurance

Budget Direct home insurance
Finder award home insurance value

Our verdict:

  • It won the 2023 Finder home insurance award for value. It won because it provides a similar level of cover to the other 20 eligible policies but at a cheaper price. It offers comparatively cheap home insurance – an average of $1,365 per year, according to our awards research.
  • You get 30% off your premiums for the first year for a combined policy purchased online. No insurer on the market permanently offers more than this. Keep in mind this is a first-year discount only. After this, your premiums will increase. It's worth shopping around after the first 12 months to make sure it's still a competitively-priced policy.
  • It covers you for most of the essentials, such as fires (including bushfires), storms and rainwater, escape of liquid (e.g. a burst pipe) and theft. You need to pay extra if you want flood protection though.
  • Unlike most insurers, a Budget Direct home and contents insurance policy doesn't automatically cover floods. If you live in a flood-prone area, you should seriously consider adding this optional extra for an additional fee. You can do this when you get a quote.
  • The 30% off is a first-year discount only. After this, your premiums may increase. It's worth shopping around after the first 12 months to make sure it's still a competitively-priced policy.
  • Get quote

Top pick for floods: QBE home and contents insurance

QBE insurance

Our verdict:

  • QBE automatically covers flood damage. It's included in the insured event storm, storm surge, rain, hail or flood. This makes claiming a little simpler. With most insurers, storms and floods are considered 2 separate insured events. This means if there is storm and flood damage to your home, you may need to pay 2 excesses – but not with QBE.
  • It covers forced evacuation by a government authority. For example, if you need to leave because of a flood risk, QBE can pay for temporary accommodation for up to 60 days.
  • It can also cover debris removal which can be very costly if your home is damaged or destroyed, plus pay for the temporary storage of your undamaged belongings.
  • Like other insurers, QBE won't cover damage due to lack of maintenance (for example, if your gutters overflow due to a build-up of leaves or other debris) so make sure you keep your home in order to avoid any problems with claiming.
  • Its quality cover comes at a price. QBE is one of the more expensive home insurers on the market, costing an average of $2,108 per year, according to Finder research.

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Top pick for price: Youi home and contents insurance

Youi Insurance Logo

Our verdict:

  • Youi offered the cheapest home and contents insurance policy according to our research of 31 of Australia's most popular insurers including AAMI, Budget Direct and Allianz. It costs an average of $1,329 per year, $100 less than the second cheapest insurer AAMI.
  • It covers the essentials, such as fires and bushfires, but goes further than most. It will also cover soot or smoke damage from a bushfire or any other accidental fire within 100 metres of your home and pay for temporary accommodation if you're told by the local authorities to evacuate
  • Its PDS is much more detailed than others. For example, it clearly specifies you're covered for accidental fires, including fires caused directly by mechanical or electrical failures. Some other insures don't mention this, others will cover it under accidental damage but as an optional add-on. It also covers all the other most common reasons for claims too – for example, storms, escaped water (like a burst pipe) and theft.
  • Its main downside for some is probably the application process. Unlike other insurers, you often have get a quote over the phone.
  • Like the majority of insurers we researched, you will need to pay extra if you want cover for accidental damage. Everyday, Aus Seniors, NRMA and Huddle are among the insurers who do cover this automatically.

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Best for comprehensiveness: Honey home and contents insurance

Honey insurance
Finder award home insurance comprehensive

Our verdict:

  • It won the 2023 Finder Award for comprehensiveness because it covers more than the majority of insurers and comes with higher limits. Its home and contents policy comes with automatic flood cover, up to $20,000 towards your home office contents, $6,000 towards jewellery and you can pay monthly at no extra cost. It also won the Finder Insurance Innovation award.
  • It's time-saving. It takes around 3 minutes to sign up and estimates your rebuild costs for you. It's the only insurer on the market to do this.
  • You get $250 worth of smart sensors when you sign up. These help detect household accidents and prevent you from having to make claims (stopping your premiums from increasing). It covers all the essentials still though – fires, bushfires, storms, theft and leaks – and then some. It automatically covers storm surges and floods.
  • The main benefit of Honey is probably the smart sensors. If you don't want to use them, a policy isn't as good value for money.
  • Honey is relatively new to the market so some might rather go with a more well-known brand.

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Sarah Megginson

We've had a leak in our home before, and even though repairs were covered by insurance, fixing the actual issue fell to us – which cost over $16,000. So, the home sensor pack Honey sent us gave us extra peace of mind that we don't have any sneaky leaks or hidden issues.
— Sarah Megginson, Personal finance expert and Aussie homeowner

Top pick for perks: Qantas

Qantas Life Insurance Logo

Our verdict:

  • You earn 1 point for every $1 you spend on your premium and earn up to 20,000 Qantas Points when you join by 22 April. (Eligibility criteria and T&Cs apply).
  • It came second in the Finder Awards for value, Budget Direct was first. Qantas policies are actually issued by Auto & General, who underwrite Budget Direct. That means you're getting almost identical cover (fires, storms, escape of liquid (e.g. burst pipes) and theft) but you can earn points as well.
  • You can earn more points for keeping your house in order on the Qantas Wellbeing App. This can include cleaning your gutters, checking your smoke alarms and logging it on the Qantas Wellbeing App.
  • If you're not interested in earning points, Qantas probably isn't the best policy for you. Coles, Everyday (formerly Woolworths) and Virgin Money are some alternative home insurers with reward schemes.
  • It also doesn't automatically cover floods or accidental damage. You will need to pay more if you want this included. Youi, AAMI and Honey are similar in price to Qantas but automatically cover flood damage.

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Expert tips on finding the best home insurance for your needs

What are the best home insurance companies?

It's really hard to say which is the best home insurance company without knowing a bit about you. So here's a bunch of home insurance companies that we've researched and reviewed. Hopefully this can help you.

If the brand you're looking for isn't here, check out our directory.

Compare some of the best home insurance policies in a few clicks

Why you can trust Finder's home insurance experts

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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.
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We're experts

We've researched and rated dozens of policies as part of our Finder Awards. We provide unique insights and our in-house experts regularly appear on Sunrise, 7News and SBS News.
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We're independent

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.
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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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