It's good for the benefits. You can earn bonus Flybuys points when paying for your premium which can get you a discount off your groceries at Coles supermarkets.
Flood cover comes standard on all policies, which is handy because most other home insurers will charge extra for it.
While flood cover is included, it's important to note that there are exclusions on things like storm surge and tsunamis.
What does Coles Home Insurance cover?
You can get 3 different policy types. Coles offers building insurance, contents insurance, and a combined home and contents insurance policy. To add to that, Coles also offers landlord insurance.
Some main events covered by Coles Home Insurance include:
Coles Home Insurance is backed by Insurance Australia Limited (IAG), which is one of the biggest insurance companies in Australia. It offers customers the choice of their excess amount (though the standard is $750), and has an above-average cooling off period of 30 days.
Here's the rundown of a Coles Home Insurance policy
These are some of the standard features that you can claim on if an insured event causes damage or loss:
Key and lock replacement
Professional and rebuilding fees
Emergency groceries
Cover for when you move address
Debit or credit card theft
Building modifications (if you're seriously injured from an insured event at your home)
Temporary accommodation
Trees, plants and shrubs
Optional add-ons
Coles Home Insurance offers a few optional extras so you can customise your policy, but you'll have to pay a bit more for it.
Accidental damage
Motor burnout cover
Portable contents cover
Exclusions
All home insurance policies will have general exclusions. Here are a few exclusions from Coles. For the full list, head to the Product Disclosure Statement (PDS).
Depreciation
Earth movement
Misplaced items
Pre-existing damage
Electronic data
Mould
Terrorism
Stump or tree removal
Make sure you read Coles' PDS for a more detailed breakdown of exclusions. You can also head to general exclusions for more information.
Here's some information on Coles Home Insurance complaints
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 Coles (Insurance Australia Limited) did:
Insurance Australia Limited has a higher percentage of complaints that were resolved directly with its customers compared to QBE.
It is considered a very large insurer which means it's normal to see a relatively large number of complaints but Insurance Australia Limited has some of the most complaints we’ve seen of any sized insurer.
Frequently asked questions
Claims can be lodged online through Coles' Insurance Service Centre. If it's the first time you've made a claim, you'll have to register and then log in.
Before you start, make sure to have the following prepared:
Your policy number (if you don't have a paper copy, try find it in your emails)
Details about what happened
Evidence of the event like photos, invoices, receipts, etc.
Flood is automatically included as an insured event. This is a highlight of a Coles policy since flood cover is usually an optional extra with other brands. There are exclusions to the cover, though, so make sure to check them out when making your decision.
Yes! In fact, if you hold a Coles Home Insurance policy, you'll earn double the points (2x per $1). Just make sure you enter your Flybuys membership number when you sign up or update your account.
Here's the key eligibility criteria for a Coles home insurance policy:
The type of home you own. It must be a free standing house, townhouse, villa or duplex, semi-detached house or terrace. Registered body corporate buildings and houseboats are not eligible.
How you use the home you own. It must be your primary residence or holiday home. It's not suitable if your home is a business, such as a hotel or bed & breakfast.
The condition of your home. The home needs to meet acceptable dwelling criteria; for instance, it must be secure, watertight, structurally sound and well maintained. It's not suitable for homes under initial construction or renovations that cost more than specified in the PDS.
Gary Ross Hunter was an editor at Finder, specialising in insurance. He’s been writing about life, travel, home, car, pet and health insurance for over 6 years and regularly appears as an insurance expert in publications including The Sydney Morning Herald, The Guardian and news.com.au. Gary holds a Kaplan Tier 2 General Advice General Insurance certification which meets the requirements of ASIC Regulatory Guide 146 (RG146). See full bio
Gary Ross's expertise
Gary Ross has written 725 Finder guides across topics including:
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