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Our best home insurance top picks were chosen based on factors including price, features and inclusions. We looked at 17 home insurance brands, analysed over 30 benefits and used the Finder value ranking algorithm to see which policies came out on top. Remember, there's no single 'best' home insurance policy that suits everyone, because we each have different budgets and priorities for the things we want to protect.
In addition to our best home insurance picks, the editorial team has selected a couple of other options we feel represent good value and are good worth calling out.
These home insurance policies were picked by Finder insurance writer Gary Hunter on March 8, 2022.
What we like about ANZ: We like ANZ because it's solving Australia's underinsurance problem. According to the last survey done by the ICA, around 80% of homes in Australia are underinsured. ANZ is the only brand to include full building replacement as a standard feature across all home and landlord building insurance products. This means if your home is destroyed, it will cover the entire rebuilding costs.
With the majority of insurers, you need to estimate how much your home would cost to rebuild (the sum insured) and you're sometimes offered what's called a sum insured safeguard. This is a safety net that provides additional cover on top of your sum insured if your home is destroyed. However, even with a safeguard in place, it's very difficult to estimate how much your home is worth.
What we like about Honey: We like Honey because it's one of the few insurers that invests in you. The insurance tech startup gives customers $250 worth of smart sensors when they take out a policy. The sensors detect household accidents in the home – like water leaks, fires and theft – and alerts you via its app. You can get up to 8% off your premiums every year if you use them too – not just for the first year – making them a good choice for anyone tired of their insurance premiums going up substantially every year.
Tip: You can request a quote from more than one insurer. In fact, that's the best way to save money. Review benefits, request quotes and compare prices.
Hopefully by now you've figured out the best policy for you. Now see what offers are available to sweeten the deal.
30% online discount on new home and contents insurance
Buy online and save up to 30% on a home & contents policy with Australian Seniors
Earn up to 20,000 Qantas Points with Qantas Home Insurance
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.
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Does the cost of land included in home value to be insured?
Hi Mahendra,
Thank you for your comment.
Only the cost of the property’s structure and its associated systems, fixtures, and finishes will be included in the estimate. The land value is included in a home’s market value but it’s not be included in the amount of insurance you buy.
Please make sure to read the eligibility criteria, features and details of the policy, as well as the relevant Product Disclosure Statement PDS/T&C’s of the policy before making a decision and consider whether the product is right for you. If necessary, speak to the insurance brand to verify any details.
Regards,
Jhezelyn