Home insurance can protect your home from a bunch of mishaps like fire and water damage, to fallen trees and vandalism. You'll have a variety of home insurers to choose from in Victoria, so let's make sure you make the right choice.
Our guide outlines things to look out for when buying home insurance in Victoria, what policies are on offer and examples of how much you could pay.
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The right type and level of cover for you may vary substantially depending on where you live in Victoria.
One of the biggest risks facing rural properties in Victoria is bushfire, while some towns on the banks of the mighty Murray River face an increased risk of a flood. If you’re the owner of an apartment in the CBD, you might be more likely to face theft and break-ins or water damage if your upstairs neighbour has plumbing problems and your apartment is flooded.
You’ll need to consider a wide range of factors when deciding on the best home insurance policy for your needs. First, you’ll need to consider whether you want standalone home or contents cover, or whether you want to combine the two and enjoy the benefits of comprehensive cover.
Next, think about your specific cover requirements. How much cover do you need? What risks do you need to protect your property and possessions against? How much would it cost to replace everything you own if it were completely destroyed?
By taking your unique risks into account, you’ll be able to find a policy that matches your needs.
There are three home insurance options available to Victorian homeowners:
Home insurance
Also known as building insurance, this type of policy protects your physical building from loss or damage caused by fires, storms, impacts, theft and a variety of other risks.
Contents insurance
Contents insurance protects your furniture and possessions against loss or damage due to an extensive range of events.
Home and contents insurance
Combining all the cover of the two policies listed above, a home and contents insurance policy provides a high level of protection for your building and possessions.
Home insurance premiums will differ between homes. So while we can't give you an exact number, we got a bunch of quotes so you can have an idea.
The table below shows how different insurers will charge different premiums. This is why it's so important to compare.
| Brand | Building & Contents | Contents only | Building only | Apply |
|---|---|---|---|---|
 | $133.29 | $39.51 | $122.78 | |
 | $142.08 | $38.78 | $128.37 | More info |
 | $147.78 | $30.51 | $117.26 | More info |
 | $134.53 | $39.77 | $124.09 | |
 | $145.72 | $54.27 | $107.61 | |
 | $214.79 | $75.48 | $187.11 | |
 | $145.72 | $54.27 | $107.61 | |
 | $134.55 | $39.75 | $123.99 | More info |
 | $110.57 | $22.41 | $91.71 | |
 | $189.15 | $47.31 | $165.48 | More info |
 | $179.76 | $44.88 | $157.36 | |
 | $87.37 | $70.64 | $72.42 | |
 | $177.00 | $45.00 | $151.00 | |
 | $151.32 | $44.13 | $138.85 | |
 | $157.75 | $40.01 | $140.27 | More info |
 | $100.12 | $25.73 | $86.77 |
Most home insurance providers are not state specific and provide cover for homes all around Australia. finder.com.au’s panel of home insurers features some of Australia’s leading home insurance providers that offer cover in Victoria:
Before you choose a home insurance policy, make sure you’re aware of any general exclusions that apply. The following are some common home insurance exclusions:
Finally, when you do take out home and contents insurance in Victoria, make sure you’re aware that a 10% duty charge will be included in your premium. An additional Fire Services Levy used to apply to all policies, but this was scrapped in July 2013.
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