Finder makes money from featured partners, but editorial opinions are our own.

Commonwealth Bank Home Insurance Review

Getting extra peace of mind with a 25% sum insured safeguard is just one reason to consider home insurance provided through Commonwealth Bank.

4.1 ★★★★★ (302 reviews) Write a review

Our Verdict

  • Commonwealth covers up to an additional 25% on top of your sum insured building and contents when it isn't enough to cover your loss. This is often an optional add-on for many other insurers we looked at.
  • Its home and contents insurance has been awarded for its outstanding value for a number of years.
  • You get up to 15% off combined building and contents insurance – insurers such as Budget Direct, St.George and Westpac all offer larger discounts when you sign up.
Sorry! We currently don't have this brand on our panel. But don't fret, you can head to the Commbank home insurance website or compare a bunch of other home insurance companies with Finder.
Compare home insurance fast

What does Commonwealth Bank home insurance cover?

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.

Here's the rundown of a Commbank home insurance policy

Check icon

Standard features

These are some standard features that you can claim if an insured event causes damage or loss.

  • Alternative accommodation
  • Contents in transit
  • Damage by emergency services
  • Demolition and debris removal
  • Domestic pets
  • Loss of rent
  • Accidental glass breakage
  • Animal damage
  • Burn out of electric motors
  • Earthquakes
  • Escape of liquid

plus icon

Optional add-ons

Commbank home insurance comes with few optional extras compared to other insurers such as Budget Direct, Virgin and Qantas.

  • Accidental damage
  • Domestic Workers' Compensation Cover
  • Portable contents cover

cross icon

Exclusions

All home insurance policies will have general exclusions. Here are some things you won't be covered for with Commbank.

  • Defects or poor workmanship
  • Damage if your property is not compliant with government regulations or requirements
  • Your building while in the process of major renovation, alteration, extension or structural improvement unless Commonwealth has agreed to continue the insurance
  • Wear and tear and lack of maintenance, including rust, corrosion and deterioration
  • Water, including rainwater, after it has disappeared beneath the surface of the land at your insured address
  • Normal actions of the sea, ocean or other marine waters
  • The gradual rising of the levels of the sea, oceanic waters or other marine waters due to any change in climate
  • Subsidence or landslide

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.

Commbank home insurance complaints

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:

  • Despite its considerable size, Commbank was able to resolve a large percentage of the complaints it received directly with its customers.
  • It does, however, have a large volume of complaints when compared to other insurers like Allianz.

This is the bottom line about Commbank

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.

Why you can trust Finder's home insurance experts

free

We're free

You pay the same as buying directly from the home insurer. Better still, we regularly run exclusive deals that you won't find on any other site – plus, our tables make it easy to compare policies.
expert advice

We're experts

We've researched and rated dozens of policies as part of our Finder Awards. We provide unique insights and our in-house experts regularly appear on Sunrise, 7News and SBS News.
independent

We're independent

Unlike other comparison sites, we're not owned by an insurer. That means our opinions are our own and we work with lots of home insurance brands, making it easier for you to find a good deal.
help

We're here to help

Since 2014, we've helped 150,000+ people find home insurance by explaining your cover options simply and clearly. We'll never ask for your number or email. We're here to help you make a decision.

Frequently asked questions

Leave a Commonwealth Bank home insurance review

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.

More guides on Finder

Ask a Question

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our 1. Terms Of Service and 6. Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Go to site