You can get 3 different policy types. Commbank offers building insurance, contents insurance and a combined home and contents insurance policy. To add to that, Commbank also offers landlord insurance.
Some main events covered by Commbank home insurance include:
Commbank home insurance is backed by Hollard Insurance. It offers customers the choice to pay more than the standard excess amount (which differs depending on the state you live in) and has a standard cooling off period of 21 days.
These are some standard features that you can claim if an insured event causes damage or loss.
Commbank home insurance comes with few optional extras compared to other insurers such as Budget Direct, Virgin and Qantas.
All home insurance policies will have general exclusions. Here are some things you won't be covered for with Commbank.
Make sure you read Commbank' PDS for a more detailed breakdown of what's not covered. You can also head to general exclusions for more information.
Important to know. The complaints data below relates to home insurance policies that, at the time, were backed by Commbank's previous underwriter – Commonwealth Insurance Limited. Commbank home insurance policies are no longer underwritten by Commonwealth Insurance Limited. Today, Commbank is underwritten by Hollard Insurance Partners Limited.
We looked at home insurance complaints data from the Australian Financial Complaints Authority (AFCA) between July 2020 and June 2021. 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 Commbank did:
Commbank home insurance is a good overall home insurer compared to other policies on the market. It comes with plenty of benefits included as standard and an additional 25% on top of your sum insured building and contents when it isn't enough to cover your loss. However, you can get bigger discounts elsewhere.
If you're not ready to take out a policy, you can compare other home insurance brands side-by-side here.
You pay nothing. Finder is free to use. And you pay the same as going direct. No markups, no hidden fees.
You save time. We spend 100s of hours researching home insurance so you can sort the gold from the junk faster.
You can trust us. We say it like it is. We aren't owned by an insurer and our opinions are our own.
If you've held, or currently hold, a Commonwealth Bank home insurance policy, we'd love to hear from you. Your reviews help other Australians decide if Commonwealth Bank is right for them. Some reviews are from a survey commissioned by Finder.
Does "legal tender" mean you can always pay with notes and coins?
Excerpt
Almost a million homeowners could be forced to take drastic action if interest rates remain elevated until next year, according to new research by Finder.
Passport prices have jumped how many times in 7 months?
Credit cards and buy now pay later services are common ways to pay, but you should think twice if you're planning on buying a home any time soon.
Some parents are contributing generously towards their children’s wedding festivities, according to new research by Finder.
A list of insurers who can provide cover for accidental death and total and permanent disability.
A list of life insurance policies with TPD included in the policy or available as an optional extra.
A list of life insurance policies that will cover you for accidental death so you can live, laugh, love your way through the rest of your days.
