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Want to find the best home insurance policy for you? Compare features and protect your home for years to come.

Home insurance is an essential expense for all home owners, providing crucial financial protection to ensure that you always have a roof over your head. But choosing the right policy for you is a challenging task.

While we’re all searching for the best home insurance at an affordable price, the truth is that there’s no such thing as a ‘one size fits all’ best home insurance policy. Instead, you have to choose cover based on your unique insurance needs – so read on to find out how to find home insurance that provides the perfect protection for you.

This guide will help you navigate the complexities of home insurance and help you find the policy that is best for you.

Want to find the best home insurance policy?

Details Features
Home & Contents Insurance
Home & Contents Insurance
Save 30% when you purchase cover online
  • 24/7 Phone & online claims service
  • Covers the cost of rebuilding or repairing your home
  • Covers in-home contents and contents away from address
  • Choice of excess options
Go to site More info
Comprehensive Building and Contents
Comprehensive Building and Contents
Save up to 30% when you purchase a combined Woolworths Home and Contents policy online. Cover must be purchased prior to 28 February 2018.
  • $8,000 cover for outdoor contents
  • $10,000 cover for home office contents
  • Accidental damage cover
  • Emergency accommodation cover
Go to site More info
Home and Contents Insurance
Home and Contents Insurance
Buy online and save up to 10% on your policy.
  • Cover for legal liability
  • Protect your contents and possessions
  • Cover against theft, storm and rainwater, fire and more
  • Cover for accidental damage
Go to site More info
Home and Contents
Home and Contents
Save 30% when purchasing online. New eligible customers can receive up to 10,000 Velocity Frequent Flyer points. Ends 28 Feb 2018.
  • Up to $20 million legal liability cover
  • 21 day money back guarantee if a claim has not been made
  • Optional extras on offer
Go to site More info
Building and Contents Insurance
Building and Contents Insurance
24/7 emergency claims assistance so you’re never left in the dark.
  • Cover for loss or damage by theft, attempted theft
  • Cover for damage from accidental fire
  • Optional burnout of electric motors
  • Optional accidental damage cover
Go to site More info

Save up to 20% on AI Car Insurance

Save up to 20% on car insurance when you purchase cover online.

Save up to 30% on combined home & contents insurance

Receive up to 30% off your Woolworths home and contents policy when you purchase online.

Save 30% when you purchase Virgin Home and Contents Online

Save 30% when you combine Home and Contents Insurance Price Saver online

30% online discount on home & contents insurance

Receive 30% off combined smart home and contents insurance when you purchase cover online.

How can I make sure I’m buying the right home insurance policy?

There’s a lot to consider when choosing home insurance and the whole process can start to seem a little daunting. To make things easier and help you find the best home insurance policy for your needs, remember the following tips:

  • Don’t skimp on the sum insured. Don’t try and save a couple of bucks on your premium by dropping your sum insured too low. Make sure the level of cover you choose would be sufficient to completely replace your home if it was completely destroyed. Also check that the policy automatically increases your sum insured each year so that it keeps pace with inflation.
  • Choose an affordable excess. Most insurers allow you to vary your excess when you apply for cover – the higher the excess you choose, the cheaper your premium. Just make sure you can afford to pay that excess if you need to make a claim.
  • Consider accidental damage cover. Most policies cover defined events cover only and provide accidental damage cover as an optional extra. But it’s an option that’s well worth considering – take a moment to think about all the costly accidents that’ve occurred at your home over the years when deciding whether it’s worth the extra expense.
  • Check cover limits. Make sure the policy provides sufficient cover for your valuable items by checking the PDS for cover limits and sub-limits. For example, if your $3,500 computer is destroyed by fire and your policy limits computer cover to a maximum of $1,000, you’ll end up significantly out of pocket.
  • Check the exclusions. Not only is it important to know what your policy covers, but also what it doesn’t cover. Read the list of general exclusions in the PDS so you’re fully aware of those situations and events when your insurer won’t pay claims.
  • Compare, compare, compare. The only way to find the best home insurance policy for you is to compare multiple policies. In the digital world this really is easy to do, so compare quotes, cover features, limits and exclusions to work out which policy stands head and shoulders above the competition.

9 hacks to chop your home insurance premium

Home insurance may be an essential purchase but it doesn’t have to be an expensive one. Keep the following tips in mind to help reduce your home insurance premiums:

  1. Compare quotes and shop around. How do you know whether a policy provides good value if you don’t compare it with offerings from other insurers? It’s a piece of cake to compare home insurance quotes online, so start shopping around for the best deal straight away.
  2. Choose a lower level of cover. Many insurers provide multiple levels of home insurance cover, so instead of paying a high price for top-level cover if you don’t need it, consider whether a basic (and cheaper) policy might be sufficient for your needs.
  3. Don’t pay for options you don’t need. Adding optional extras to your policy can increase your level of cover, but it also increases your premium. Make sure any extras you purchase provide essential cover.
  4. Increase your excess. Most home insurers allow you to adjust your excess when you buy a policy. By choosing a higher excess to pay if you have to make a claim, you’ll receive a lower premium.
  5. Buy online. It’s common practice for insurers to offer substantial discounts to customers who buy their policy online rather than over the phone or in store. It’s also quick, easy and convenient to compare policies and quotes online, so buying cover electronically has many benefits.
  6. Combine cover. Combining home insurance and contents insurance together into one policy can lead to sizable premium reductions.
  7. Secure your home. Alarm systems and other security measures can act as a major deterrent for burglars. As a result, overhauling your home’s security system can greatly reduce the cost of cover.
  8. Don’t just renew. Instead of just blindly paying the premium renewal your home insurer sends out each year, spend some time comparing cover from other insurers. Not only could you save yourself some money, but you could also find a policy that better suits your needs.
  9. Keep an eye out for other discounts. Depending on the insurer, you may also be able to take advantage of a range of other special offers. You can also find a range of current home insurance deals and offers at finder.com.au.

What should my home insurance policy cover?

What should my policy cover?

At the very minimum, your home insurance policy should cover you for:

  • Theft
  • Fire
  • Vandalism
  • Damage from natural disasters such as storms, earthquakes, floods
  • Water or liquid damage from leaking pipes
  • Impact damage
  • Damage caused by animals
  • Legal liability cover

If you make a claim for loss or damage caused by any of the above events, building insurance can cover:

  • Repair and rebuilding costs for your home
  • Demolition and removal of debris
  • Professional fees as part of the rebuilding process, for example architects and surveyors
  • The cost of lodging council plans
  • Emergency accommodation while your home is unfit to live in
  • Emergency repairs
  • Mortgage discharge costs
  • Ensuring worker safety on the building site
  • Replacement of locks and keys following theft


If you make a claim on the contents cover portion of a home insurance policy, you’ll be covered for:

  • Repair or replacement of contents
  • Food spoilage
  • Taking contents to your new home
  • Credit card theft
  • Visitors’ belongings
  • Replacement of locks and keys following theft

Finally, all home insurance policies include liability cover. This benefit provides protection for your legal liability if a claim is made against you for an incident that causes:

  • Death or bodily injury to someone else; or
  • Damage to someone else’s property

What kind of exclusions are there?

Unfortunately, home insurance doesn’t cover every little thing that could potentially go wrong and cause damage to your home. Just like with any other type of insurance, it’s important to check the list of home insurance general exclusions before choosing a policy.

While what is and isn’t covered differs between insurers, your home insurance claim will generally not be paid if:

  • Your home is unoccupied for an extended period. Going away on holidays for a few months? Most home insurers won’t provide any cover if your home is left unoccupied for an extended period, usually 60 consecutive days or more. However, if you inform the insurer of your travel plans ahead of time it’s usually possible to keep cover in place.
  • You fail to properly secure your home. If your home isn’t secure, well-maintained and watertight, or if you fail to take reasonable steps to secure it after suffering loss or damage, your claim will be refused.
  • There’s existing damage. Home insurance will not provide cover for any damage that already existed to your house when you purchased a policy.
  • You’re renovating. If you’re conducting extensive renovations on your home, most home and contents insurance policies won’t provide any cover. Instead, you may need to invest in construction insurance to guarantee that your home stays protected.
  • You deliberately cause loss or damage. Home insurance covers against a broad range of unexpected events, not against intentional acts by you, your family members or someone acting with your consent.
  • You engage in criminal activity. Insurers will not pay any claims that arise because you were engaging in criminal or illegal activity. So if your secret meth lab burns the whole house down, rest assured that your home insurer won’t provide any cover.
  • Your building has structural faults. If your claim arises due defects in the design, structure, materials, workmanship or construction of your home, no cover is available.
  • Your claim is for wear and tear. If your claim is caused by wear and tear, gradual deterioration, rust, rot, mould or mildew, don’t expect any cover from your home insurance policy.
  • Your home is used for business. If you use your property to conduct any business, trade, profession, occupation or for any commercial purposes, no cover is provided. However, home offices are included in cover.
  • You rent your home to other people. If you’re taking part in a house swap or renting out a room or your entire property through an accommodation sharing website like Airbnb, you will not be covered for any loss or damage that results.

Check out the finder.com.au guide to common home insurance exclusions for more information, and read the PDS closely for full details of the situations and events your policy will not cover.

What additional cover options are there?

If you want to tailor home insurance cover to suit your needs, you can also purchase the following optional covers by paying an additional premium.

  • Sum insured safety net. This option provides extra financial protection if the sum insured you have selected for your home or contents is insufficient to rebuild your home or replace your contents.
  • Electrical motor burnout (fusion) cover. This optional extra covers you for loss or damage that results from the burnout of electric motors around the home. For example, it provides cover if the motor in your fridge or washing machine dies.
  • Accidental loss or damage cover. This allows you to cover your home and contents for accidental damage caused by unintentional mishaps, such as spillages and breakages that commonly occur around the home.
  • Increased cover for valuable items. In some cases, the maximum amount your contents insurer pays out for contents claims may not be enough to replace high-value items, such as jewellery, collections and works of art. By paying an additional premium, you can increase the level of cover for specified valuable items.
  • Portable valuables cover. This contents insurance option allows you to cover your portable valuables (smartphone, laptop, jewellery etc) against loss, theft and accidental damage when you take them with you away from home. You’re typically covered anywhere in Australia and New Zealand 24/7, and for a limited time period (usually 35 days per insurance period) anywhere else in the world.
  • Pet cover. By purchasing an optional pet pack, you can receive cover for veterinary fees when your dog or cat suffers an accidental injury. Some policies will also cover damage to your home caused by your pet, as well as boarding costs for your pet when your home is temporarily unfit for you to live in.

Understanding key home insurance terms

TermWhat it means
Accidental breakageThis benefit covers the accidental breakage of glass and ceramics in your home. Some items, such as televisions, electronics, fine china and tiles, may be restricted or excluded from cover
Accidental damageThis benefit covers unintentional mishaps that cause loss or damage, for example red wine spills on carpet. It is usually only available as an optional extra
Defined eventsMost home insurance policies only cover defined events, such as fire, storm, theft, vandalism, explosion and earthquake.
ExcessThe amount you are required to pay for each incident if you make a claim
Insured eventAny event listed in and covered by your policy, for example fire, storm or theft
New-for-old replacementCovers the cost of new equivalent items to replace contents that are damaged beyond repair or stolen and not recovered
Safety netPays a specified percentage above the sum insured to cover the full cost of rebuilding your home or replacing your contents
Sum insuredThis is the amount for which you insure your home or contents
Total replacement coverThis type of home insurance policy pays the full cost of replacing your building

What should I look for when comparing home insurers?

Choosing cover is not just about finding the best home insurance, but also about finding the best home insurer. While it’s simply not possible to nominate one insurer as being “better” than all the rest, there are a few factors you should consider when comparing home insurance companies:

  • Customer service. Is your insurance provider easy to deal with? Do they have an online chat service? Can you contact them 24 hours a day, 7 days a week. Making a home insurance claim can be a very stressful time, so being able to deal with an insurer that’s easy to contact at all times is crucial.
  • Claims process. How easy is it to lodge a claim with the insurer? Is there a 24/7 claims service available? Can you submit a claims form and supporting documentation online? If you need to make a claim you want the entire process to be as smooth and hassle-free as possible, so investigate how you can claim and how long the insurer takes to process claims.
  • The underwriter. It’s also essential to consider the underwriter that actually issues the home insurance policy. Is it a respected company with ample experience and a strong financial position? Does it have a good reputation for paying out claims?
  • Policies offered. Does the insurer offer home insurance that offers the benefits and features you need? Can you tailor cover to your requirements by adding or removing optional extras?
  • Reviews and recommendations. Check out online reviews to find out what sort of experiences other homeowners have had with the same insurer. Ask friends and family members who they insure with and whether they would recommend their insurer.

Switching insurers – can you find a better deal?

Many people take a ‘set and forget’ approach to home insurance. Sure, they might do a thorough comparison the first time they buy cover, but once they’ve chosen an insurer they tend to simply pay their policy renewals each and every year without searching for a better deal.

But this can be a costly mistake for two reasons:

  • You could be paying too much for cover. Don’t assume that just because you’re a long-term customer your insurer will offer you the best possible price. You may be able to access an equivalent level of cover from another insurer but at a much lower price.
  • There could be a better policy out there. Your home insurance policy might have met your needs 5 or 10 years ago when you last compared cover, but there’s every chance your cover needs will have changed since then. There may also be different policies and cover feature available in today’s insurance market, so shopping around could help you find cover that’s better tailored to your requirements.

So when your next home insurance renewal appears in your letterbox or email inbox, don’t just pay the premium quoted to you straight away. Take some time to compare quotes from a few other insurers to see if there’s a better deal out there. Switching home insurers is quick and easy, and it can make a surprisingly big difference to your bank balance as well.

How to reduce your home insurance risks

Home insurance provides essential cover should you ever need to claim for loss or damage. But rather than simply relying on your insurer to bail you out if something goes wrong, it makes much better sense to reduce the risk of loss or damage and therefore make it less likely that you will ever need to claim in the first place.

Easy ways to reduce your home insurance risks include:

  • Protecting your home. There’s a good reason insurers offer discounts if you have burglar alarms, deadbolts and even fire sprinkler systems in place – they make your home much safer and reduce the likelihood of a claim. Installing such devices and systems is a great way to protect your home against damage and also keep more money in your own pocket.
  • Building better. If you’re building a new home, remember that some building materials are much better at withstanding damage than others and can also be much cheaper to repair. In particular, pay attention to your choice of roofing materials and how they cope with hail, debris, fire and storm damage.
  • Being fire safe. Take a few simple steps to protect your home against fire. Keep a fire extinguisher or fire blanket in the kitchen, make sure all smoke alarms are in working order, remove trees that are close to your property and clear out your gutters regularly.
  • Knowing the risks. Different risks are more prevalent in different parts of Australia. If you live in an area prone to severe storms, cut down trees that could damage your home if they were to come down in damaging winds. If you’re buying a house in a flood-prone area, look for a home that’s sufficiently raised to avoid floodwaters. If you live in a bushfire-prone area, check that your home meets all relevant building codes and regulations.

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Commonly asked home insurance questions


* The offers compared on this page are chosen from a range of products finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms "Cheapest", 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your personal financial circumstances when comparing products.


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