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Youi Building Insurance

Youi Building Insurance

Flood included as standard

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All-rounder

Budget Direct Home & Contents Insurance

Budget Direct Home & Contents Insurance

2025 Finder Customer Satisfaction Award

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Cheap

Qantas Home and Contents Insurance

Qantas Home and Contents Insurance

Discounts for online signup and bundling

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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.

• What this policy includes

  • Fire, Storm & Theft Damage
  • Flood
  • Malicious Damage
  • Earthquake
  • Lightning
  • Temporary Accommodation - 12% of sum insured - up to 12 months
  • Food Spoilage - Up to $1,500
  • Building modifications after injury - $5,000
  • Guests Contents - $1,000

  • Removal of Debris
  • Outdoor Contents
  • Home office equipment
  • Electrical Motor Burnout
  • Accidental Glass Breakage
  • Replacement of Locks - $1,000
  • Funeral Expenses - $5,000
  • Legal Liability - $20,000,000
  • Contents Temporarily Removed From Home - 20% of the contents sum insured

Why we picked it

We picked Youi home and contents insurance because it's great on a few different sides with features, price and customer service at the forefront.

With the right tips and tricks, you can walk away with a good quality policy at a competitive price. It includes all the features you'd expect plus some more. For example, flood cover is included as standard whereas it's an optional extra with many other policies. For those who want to tailor their policy further, there are plenty of other optional extras to choose from.

Lastly, the customer service is fantastic. Multiple people at Finder have held various policies with Youi and every time, they've been really impressed by how friendly, efficient and helpful the team at Youi are.

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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.

• What this policy includes

  • Fire, Storm & Theft Damage
  • Flood - Optional - subject to eligibility
  • Malicious Damage
  • Earthquake
  • Lightning
  • Temporary Accommodation - 10% of sum insured - up to 12 months
  • Food Spoilage - Up to $500
  • Building modifications after injury - $5,000
  • Guests Contents - $500
  • Home office equipment - Up to $12,000

  • Removal of Debris - 10% sum insured
  • Outdoor Contents
  • Electrical Motor Burnout - Optional
  • Tools of Trade - $2,000
  • Replacement of Locks - $1,000
  • Funeral Expenses - $7,000
  • Legal Liability - $20,000,000
  • Contents Temporarily Removed From Home - 20% of the contents sum insured
  • Jewellery - up to $1000 per item, up to $5,000 in total

Why we picked it

We picked Budget Direct as our favourite all-rounder because it's just that. From policy features, to the online application, pricing and customer service, we've got data and customer feedback to say that Budget Direct is great for it all. What's not to love?

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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.

Why we chose Qantas

We picked Qantas home and contents insurance as our “Cheap with a bit extra” insurer as they offered a budget-friendly home and contents insurance policy, plus an enticing bonus for Qantas Points lovers. Customers also have the flexibility to tailor their coverage by choosing from a range of optional-add ons, including accidental damage, commercial storage and a sum insured safeguard.

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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

How we got this price

Our expert says: My insurance increased almost $2k in 1 year!

"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!"

Sarah Megginson

Money expert + media spokesperson

Home insurance deals and discounts

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13 of 13 results

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Get up to 10% off your first year’s premium Up to 10% off your first year's premium when you apply online and $10 monthly Kogan credit (valid on $100+ purchases) for active policyholders. T&Cs apply. Get deal Get deal		loading Fetching your data...
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. Get deal Get deal		loading Fetching your data...
Earn up to 40,000 Qantas Points with Qantas Home Insurance Ends 27 May 2026 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. Get deal Get deal		loading Fetching your data...
Get 10% off your first years’ premium with QBE Contents only Insurance Discount is for new customers who sign up online. Terms and conditions apply. Get deal Get deal		loading Fetching your data...
Receive $250 worth of smart sensors with Honey Home Insurance Get free smart sensors (valued at $250) to install around your home when you sign up for a combined home and contents policy. T&Cs apply. Get deal Get deal		loading Fetching your data...
Save up to 10% on a new combined home and contents insurance policy Get 10% off your first year's premium when you purchase a new combined home and contents insurance policy online. T&Cs apply. Get deal Get deal		loading Fetching your data...
Get up to 20% off your first year's premium with QBE Building and Contents Insurance Discount is made up of a 10% online discount, and a further 10% for buying a combined policy. T&Cs apply. Get deal Get deal		loading Fetching your data...
15% online discount on home insurance Save 15% on your first year's premium when you purchase cover online. T&Cs apply. Get deal Get deal		loading Fetching your data...
15% online discount on contents insurance Save 15% on your first year's premium when you purchase cover online. T&Cs apply. Get deal Get deal		loading Fetching your data...
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. Get deal Get deal		loading Fetching your data...
Get 10% off your first years’ premium with QBE Building only Insurance Discount is for new customers who sign up online. Terms and conditions apply. Get deal Get deal		loading Fetching your data...
15% online discount on contents insurance Save 15% on your first year's premium when you purchase cover online. T&Cs apply. Get deal Get deal		loading Fetching your data...
15% online discount on home insurance Save 15% on your first year's premium when you purchase cover online. T&Cs apply. Get deal Get deal		loading Fetching your data...

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Tips 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

• Are there any home insurance discounts?

  Yes! It's often possible to get a discount on your home insurance policy by switching to a new provider. You can see the sign up deals and discounts here.

• Is it cheaper to get home and contents insurance together?

  It can be but it varies by provider. You can always get quotes for separate policies from different providers and compare that to your quote for both policies from the same provider.

• Which is the cheapest homeowners insurance?

  The cheapest home insurance varies based on personal circumstances. Insurers like Budget Direct and Youi are known for offering affordable policies.

• What is the average cost of home insurance in Australia?

  The average cost of home insurance in Australia can range from $1,000 to $2,500 annually, depending on the property's location and coverage needs. Finder research shows that the average premium cost in 2024 was $2044, but the price you'll pay depends on a number of factors.

• What is the cheapest insurance for full coverage?

  Budget Direct and NRMA often provide some of the cheapest full coverage home insurance policies, though prices depend on property size and risk factors.

• Is home insurance compulsory in Australia?

  Yes, building insurance is compulsory if you have a home loan. This is because the lender who provided you with a mortgage has extended you the loan based on the fact that you have a property as security. If that security gets damaged, their funds are at risk. Therefore, a conditition of a mortgage is that you must take out adequate building insurance. If you are in the fortunate position of owning your property outright, insurance is no longer mandatory but it is highly recommended.

• Is home and contents insurance the same as building insurance?

  No, building insurance covers the structure of the home, while contents insurance covers personal belongings and chattels (which are goods that are not fixed to the land or property by anything other than their own weight – such as carpets and curtains). A combined policy includes both.

Written by

Peta Taylor

Publisher of Insurance

Peta Taylor is a publisher at Finder, working across all of insurance. She's been analysing product disclosure statements and publishing articles for over 2 years. Peta is passionate about demystifying complex insurance products to help users make well educated decisions with confidence. Peta is part of Finder's insurance awards team and works alongside editorial and insights experts to bring users the best insurance products every year. See full bio