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Ready to save some money? Comparing policies is one of the easiest ways to make sure you end up with cheap home insurance. You can refine your search by choosing your policy type, and comparing up to 4 different products at a time. Then we'll take you directly to the insurer for you to get a quote.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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If you're after cheap home insurance, there are ways you can reduce the cost of protecting your home. From improving home security to paying your premiums annually, there are options for finding an affordable policy that won't leave you out of pocket. Whilst there's no universally cheaper home insurer, there are ways that you can reduce the cost of insurance.
In our research, we found a huge $1,244 difference in the yearly cost of the cheapest home insuarance policy and the most expensive policy for the same home.
30% online discount on new home & contents insurance
Receive 30% off your first year's premium when you purchase a new combined Home & Contents Insurance policy online. T&Cs apply.
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$100 e-Gift card + up to 30% off new policies
Get a $100 e-Gift card when you purchase online and you'll also save up to 30% on your first year’s premium. T&Cs Apply.
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Deal ends
12% online discount on new home & contents insurance
Receive 12% off your first year's premium when you purchase a new combined Home & Contents Insurance policy online. T&Cs apply.
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Deal ends
25% online discount on new home & contents insurance
Receive 25% off combined home and contents insurance when you purchase cover online.
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Save up to 25% when you buy online
Buy a St George Home and Contents insurance policy online and you could save up to 25%.
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Get up to 25% off when you sign up for a new home and contents policy
Save up to 25% when you combine Home and Contents Insurance online.
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There's no universally cheapest home insurance company, but our research spills some interesting industry secrets.
We got quotes from about 11 different Australian home insurers and found a difference of $1,244 when taking out an annual policy. Just check out the least and most expensive policies for the same $1 million. The point is, you could find a cheaper policy by just shopping around and comparing your options.
See for yourself below.
Want to save some dosh? Follow these steps.
Determine what kind of policy you need, whether that be building, contents, or both. Ensure your policy adequately covers your needs. Get a proper assessment on your sum insured and replacement value of your contents.
Security systems and alarms can act as a deterrent to thieves, while smoke alarms can reduce the risk of your home being damaged by fire. Installing these items can reduce the cost of your home and contents premiums.
Don’t simply accept the first home and contents insurance quote you get. Compare quotes from at least three or four different insurers - this is quick and easy to do online - and shop around for a deal. If you're buying home insurance for the first time, most brands offer discounts for new sign-ups.
You may be able to save by adding features to make your home more resistant to storms and natural disasters. Consider installing storm shutters, reinforcing your roof, and modernising your heating and electrical systems to reduce the risk of fire or water damage.
Most insurers will let you choose a premium frequency (how often you pay per annum) when applying for cover. Paying annually as opposed to monthly could save you in the long-run.
If you hold multiple policies with the same insurer you may be entitled to a discount on your home and contents premium. Many insurers will also apply a discount to your premium if you purchase your insurance online. Some providers will offer to cut the price of your cover if you’ve been with them for a number of years. Don’t be afraid to ask for your loyalty to be rewarded.
Ensure your policy covers any major purchases or enhancements to your home. This means that you can ensure that you have enough cover for certain items, whilst also noting the reduced value of other albums. Your television might not sell for as high as it did a few years ago, which will reduce your contents cover price.
The price you pay for cover is generally based on;
Many Australians adopt a ‘set and forget’ approach when it comes to home and contents cover, but this fails to take into account that our circumstances and the assets we own are constantly changing. This leads to a risk of being under-insured, which can end up leaving you significantly out of pocket or even in dire financial straits when disaster strikes.
The best way to combat under-insurance is to regularly review your level of cover to determine whether or not it is adequate and if you could be better off switching to a more suitable option.
To learn more about underinsurance and how to avoid it, head here.
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A. Yes, any changes to your security system could change the terms of your insurance. Improvements could also entitle you to a discount because you will be less likely to suffer loss caused by thieves.
A. Yes. Once again, this may affect an insurer’s decision to insure you, and you have a duty of disclosure to let your insurer know anything that may influence their decision to offer you cover.
A. Yes, many providers do include flood protection in their home and contents policies. However, make sure to check the fine print for any exclusions that may apply.
A. It is possible that what you pay for cover may increase even if your situation doesn’t, based on other factors such as where you live.
A. Carpets are generally covered as part of a contents insurance policy.
A. Many insurers will offer some cover for contents owned by invited visitors, but check your PDS to see what limits apply to cover.
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Alexandra Koster is Finder's publisher for car, home and pet insurance. She has a Tier 1 certification in General Insurance, as well as a Bachelor of Arts in Film and Cultural Studies from the University of Sydney. Her hobbies include reading Product Disclosure Statements and deciphering complicated insurance lingo to help people save on their insurance so that they can spend their money on better things – like dogs.
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