Key takeaways
- Home insurance premiums can be costly, but there are ways to save, like shopping around on policies.
- Our team of experts have done the work to help you find cheaper options. Some of our top picks include Youi, Budget Direct and AAMI.
- Many insurers frequently offer discounts or sign-up deals and on their home and contents policies to entice new customers.
Finder's pick of the bunch - Youi home and contents insurance
Pros:
- Youi's home and contents policy includes everything you'd expect; accidental damage, storm, fire, theft and floods. Other policies don't include flood as standard.
- You can split your excesses. For example, you could make your building excess $2,000 and your contents excess $850. This is great if you're insuring contents that are taken out of the home, like a wedding ring.
- Youi has exceptional customer service. The team is friendly, informative and always happy to help.
- We've found that Youi is happy to negotiate on price. The first quote given isn't final and the team is often happy to work with you on finding a price that is more within your price range.
Cons:
- You often have to complete your quote over the phone which is frustrating for those who prefer a fully online process.
- If you don't like negotiating, you will be given a higher premium than you may be willing to pay if budget is your main concern.
Favourite all-rounder: Budget Direct home and contents insurance
Pros:
- Budget Direct won the Top Value and Most Recommended award in Finder's 2025 Home Insurance Customer Satisfaction Awards, making it a top pick in the eyes of thousands of Australians.
- Budget Direct's home and contents policy includes a thorough level of coverage, yet remains comparatively affordable. Due to this mix of thorough coverage and affordability, it was highly commended in Finder's 2026 Awards for Best Value Home Insurance.
- It's a great all-rounder; there's plenty of features available so you can tailor your policy. Its own customers have stated they find there's value for money in this policy. And the customer service is highly rated by hundreds of real Australian customers.
Cons:
- You'll have to pay extra if you want cover for floods.
- There is no full building replacement option, which can be important to some people.
Cheap with a bit extra: Qantas home and contents insurance
Pros:
- Among the 40 providers our experts analysed, Qantas was among one of the cheapest offers.
- Earn up to 40,000 Qantas Points for joining by 27 May 2026. Plus save 30% on your 1st year's premium for purchasing a combined home and contents policy online. T&Cs apply.
Cons:
- Flood cover isn’t automatically included. You will need to add this in at an extra cost if you want this covered.
Cheap homeowners insurance quotes
Our home insurance experts sourced a heap of quotes to help you find the cheapest home insurance. It's important to keep in mind though, what's cheapest will vary from person to person. The cost of home insurance depends on many factors including your location, the value of your home and the value of its contents. The below should be used as a guide only.
| Brand | Annual price | |
|---|---|---|
| $1,126 | More info | |
![]() | $1,242 | Get a quote |
| $1,277 | More info | |
| $1,304 | Get a quote | |
| $1,410 | Get a quote | |
| $1,734 | More info | |
| $1,734 | More info | |
| $1,734 | More info | |
![]() | $1,741 | Get a quote |
| $1,858 | Get a quote | |
| $2,516 | More info | |
| $1,953 | Get a quote | |
![]() | $1,705 | More info |
![]() | $1,614 | Get a quote |
![]() | $1,863 | More info |
| $1,899 | More info | |
![]() | $2,138 | More info |
![]() | $2,550 | More info |
| $1,635 | More info |
"Last September, I received my home insurance renewal and I was shocked – my premium shot up from $280/month to $435! I called my insurer, and they said perhaps my risk rating had changed, as I hadn't made any claims or made other changes. The best they could do was to reduce my cover – no thanks?! – to wipe $40 a month off. I compared on Finder and found the same level of cover elsewhere for $240 a month. After the cyclones earlier this year, I suspect I'll be comparing and switching again this year!"
Home insurance deals and discounts
Compare other products
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How we picked theseTips to get cheaper home insurance

Calculate how much cover you actually need
Decide what kind of policy you want: building, contents or both. In most cases, you'll also be asked to calculate your sum insured. This is how much it would cost to rebuild your home from scratch if it was destroyed. Home insurance calculators can help you work this out.

Compare quotes from multiple insurers
Don't simply accept the first home and contents insurance quote you get. Compare quotes from at least 3 or 4 different insurers – this is quick and easy to do online.

Pay your premium annually
If you can afford to pay your home insurance for the entire year in one go, it's often cheaper.

Search for discounts
Plenty of insurers have discounts available. Our tip is to go for insurers who offer a percentage discount over a dollar figure. This is because 15% off your $2,000 bill ($300 discount) is going to be better than just $50 off.

Review your policy at least once a year
It's very common for insurers to significantly increase prices once you've been with them for a year. Shop around every year and you could save a lot.
FAQs
Sources
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