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Budget Direct home insurance review

Budget Direct is consistently one of the cheapest home insurance providers, but look elsewhere if you want a bunch of add-ons included.

3.9 ★★★★★ (145 reviews) Write a review

Budget Direct Home & Contents Insurance

Budget Direct Home & Contents Insurance logo image
  • Finder Award winner for value in 2023
  • Get up to 30%* off your first year
  • Optional add-ons available
Learn more
*Combined policies purchased online. T&Cs apply.

Pros

  • Budget Direct offers came in at the low-to-mid price range end of home insurance policies on Finder according to our research.
  • You get 30% off on your first year’s premium for a new combined Home & Contents policy purchased online — out of 7 providers, only Virgin and ING offers a discount as large as this.

Cons

  • You'll need to pay extra if you want flood cover – with many other insurers, this is automatically included.

Review by our insurance and innovations editor Gary Ross Hunter.

Deal

30% online discount on new home and contents insurance

Receive 30% off your first year's premium when you purchase a new combined home and contents insurance policy online. T&Cs apply.

Compare the benefits of Budget Direct home insurance and get a quote

Name Product Building Cover Contents Cover Fire, Storm & Theft Damage Sum Insured Safeguard Online Discount Cheapest way to pay
BonusFinder Award Finalist
Budget Direct Home & Contents Insurance
Optional
Annually
Bonus
Budget Direct Building Insurance
Optional
Annually
Our verdict: The most popular insurer on Finder, Budget Direct prioritises low-cost cover and gives you 15% off your first year. You need to pay extra for flood cover and accidental damage.
Bonus
Budget Direct Contents Insurance
Annually
Our verdict: The most popular insurer on Finder, Budget Direct prioritises low-cost cover and gives you 15% off your first year. You need to pay extra for flood cover and accidental damage.
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Name Product Tenant Default and Damage Loss of Rent Accidental Damage Sum Insured Safeguard Cooling-off Period Cheapest way to pay
Budget Direct Landlord Home & Contents Insurance

Optional

10% of the sum insured amount of your property
Optional
21 days
Annually
Save 30% on your first year's premium when you buy a combined home and contents policy online. T&Cs apply.
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Congratulations, Budget Direct!

Budget Direct received the highly commended award for 'Home Insurance - Value' in the 2024 Product Awards. Budget Direct also received the highly commended award for 'Home Insurance - National' in the 2023 Customer Satisfaction Awards.

What does Budget Direct home insurance cover?

Budget Direct offers 3 home insurance policies: home and contents insurance, home insurance and contents insurance. It also has landlord insurance.

Here are some main insured events that a Budget Direct home insurance policy covers.

It's underwritten by Auto & General Insurance Company Limited. Like with most insurers, you'll need to pay an excess when you make a claim. Policies come with a cooling-off period of 21 days, which is the industry standard. This means if you want to cancel within the first 3 weeks of taking out a policy, you will be refunded in full as long as you haven't made a claim.

If you want more information on what's covered, you can see Budget Direct's product discloure statement (PDS) or check out our guide on general insured events.

Here's a breakdown of what's included

Check icon

Standard features

We highlighted some benefits that Budget Direct will cover after it has agreed to pay out a claim from an insured event. For example, if a theft (insured event) happens at your home, you could claim the expense of replacing your locks (feature).

  • Replacement of locks
  • Open air contents cover (cover for contents out in the open at your home)
  • Temporary accommodation costs
  • Unattached equipment cover
  • Uninsured guests' contents cover
  • Contents while moving address
  • Mortgage discharge costs
  • Legal liability cover

plus icon

Optional add-ons

Looking for a more tailored policy? Budget Direct offers the following optional add-ons for an extra fee.

  • Accidental damage
  • Flood cover
  • Sum insured safeguard
  • Personal effects cover
  • Motor burnout cover
  • Commercial storage
  • Tenant default cover (landlord cover only)
  • Theft and malicious damage by tenant cover (landlord cover only)

cross icon

Exclusions

Here are some of the main exclusions from a Budget Direct home insurance policy. This means you won't be covered for any damages, repairs or legal liability that could arise.

  • Floods (unless you take out the optional add-on)
  • High tides (or any other action of the sea)
  • Wear and tear
  • Tree lopping or felling
  • Loss or damage caused by insects, birds, vermin or rodents
  • Underground water seepage or pressure
  • Loss or damage resulting from business purposes
  • Illegal acts or omissions
You can find a full list of exclusions in Budget Direct's PDS or find more information on general exclusions here.

How many complaints does Budget Direct home insurance have?

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 Budget Direct (Auto & General) did:

  • Budget Direct has significantly less complaints lodged compared to other similarly sized insurers.
  • Out of the 21 complaints it received, 12 had to be escalated. This isn’t bad compared to other insurers but it shows it’s not perfect.

When comparing insurers, keep in mind that insurers with a larger market share serve more customers and potentially get more complaints.

Here's the bottom line about Budget Direct home insurance

Budget Direct is one of Australia's most popular home insurers for a reason – it's one of the cheaper providers around. However, if you want cover for floods or accidental damage, you'll need to pay extra.

To compare Budget Direct's home insurance policies side-by-side with other providers, you can head here.

I want Budget Direct home insurance

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Frequently asked questions

Leave a Budget Direct home insurance review

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


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16 Responses

    Default Gravatar
    JulieFebruary 16, 2022

    I would like to know if you offer third-party injury insurance for untenanted properties, e.g. for work by tradespeople and during home opens.

      AvatarFinder
      JamesMarch 9, 2022Finder

      Hi Julie,

      Construction insurance can offer protection that includes legal liability for workers in your home. It can be arranged pre-project or taken out as an annual policy. Here are more details.

      You may want to speak to an insurer directly to confirm they’ll cover open home visits. If they won’t, you may need to find specialist cover.

      Regards,
      James

    Default Gravatar
    AnnaNovember 8, 2019

    Is accidental damage caused by flooding covered? ( Such as from forgetting bath taps on)?

      Default Gravatar
      AshNovember 9, 2019

      Hi Anna,

      Thanks for contacting Finder.

      No, Flood is not included on any of Budget Direct’s policies but you may have it added as it is one of their optional benefit. Also, each of their policy has an ‘Escape of liquid’ which will cover the damages caused by burst or leaking water pipes and overflowing sinks, basins, baths and appliances.

      I hope this helps.

      Cheers,
      Ash

    Default Gravatar
    LouiseOctober 26, 2018

    Do you offer renters insurance for a situation where I share my house with tenants?

      AvatarFinder
      JeniOctober 28, 2018Finder

      Hi Louise,

      Thank you for getting in touch with Finder.

      Insurers like Budget Direct offer renter’s insurance for shared accommodation.

      You may see other brands that offer this type of home insurance from the link above. You can press the “Get a quote” button to compare quotes from different insurers.

      I hope this helps.

      Please feel free to reach out to us if you have any other enquiries.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

    Default Gravatar
    G.April 30, 2018

    Dear sir/madam,

    I am looking to insure a family home that was built in 2000, in Sunshine West, Vic, 3020. I have been insured with API Insurance for the last 10 years and have not claimed for anything for over 10 years. Recently APIA increased the premium to $55 a month, I decided to look for a home insurance at a cheaper rate with any suitable insurance agent.

    Your help in recommending a cheaper and reasonable home insurer is appreciated.

    With kind regards,
    G. Seifu

      Default Gravatar
      NikkiApril 30, 2018

      Hi G,

      Thanks for your message and for visiting Finder.

      Ideally, it’s good to continue with the insurance company you are currently with since you’ve been with them since 2000. To understand why your home insurance has become more expensive, you may want to refer to our guide on home insurance cost across Australia. The page also provides tips to reduce your house insurance cost.

      If you are decided to change providers, you may compare your options from our list of cheap home insurance. On the page is a comparison table you can use to see which insurer suits you. You can start comparing quotes between insurers by clicking on the “Get a quote” button.

      As a gentle reminder, please ensure you review the relevant Product Disclosure Statements/Terms and Conditions before purchasing a policy.

      Hope this helps! Feel free to message us anytime should you have further questions.

      Regards,
      Nikki

    Default Gravatar
    FaiyazMarch 16, 2018

    I looking a home insurance

      AvatarFinder
      JeniMarch 16, 2018Finder

      Hi Faiyaz,

      Thanks for getting in touch with finder. As I read, you mentioned that you are looking for a home insurance. Would you mind letting us know exactly how we can help you further?

      Thank you.

      Cheers,
      Jeni

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