Honey home insurance review

Honey home insurance offers mid-priced coverage at a good range of benefits. It also gives smart sensors to customers, to help minimise risk.

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Our verdict

Pros

  • Honey's home sensors help detect fire, water, damage and theft to minimise risk
  • Up to $20,000 covered for your home office. We couldn't find a brand that offered more
  • Honey home insurance is around 8% cheaper than the national average, according to Finder research

Cons

  • Only $500 of guest contents is covered. Some brands cover up to $5,000
  • There's no cover to allow for environmental upgrades when replacing items
  • You'll have to pay extra to get cover for electrical burnout

Price

As part of our 2024 awards, our insurance experts researched 45 home insurance brands and got over 400 quotes. This research showed the average cost of home insurance is $2,044, Honey was cheaper than average at $1,924. There are cheaper home insurance policies available including AAMI, QBE & Budget Direct, but keep in mind that the best home insurance for you may depend on more than just price.

Remember, your quote may look different as pricing is highly dependent on specific situations.

ProviderAverage costApply
Honey$1,923.90
$1,241.44
AAMI Logo$1,125.97
NRMA logo$831.86

Methodology

Compare Honey's home insurance policies?

Product Finder Score Building Cover Contents Cover Sum Insured Safeguard
Finder score
Our verdict: Honey gives you $250 smart sensors to reduce accidents and estimates your rebuild costs for you.
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Honey Home Insurance logo
Finder score
Finder score
Our verdict: Honey gives you $250 smart sensors to reduce accidents and estimates the value of your contents.
Get a quote More info
Compare product selection
Honey Home Insurance logo
Finder score
Finder score
Our verdict: Honey gives you $250 smart sensors to reduce accidents and estimates your rebuild costs for you.
Get a quote More info
Compare product selection
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Finder Score - Home Insurance

We crunch eligible home insurance products in Australia to see how they stack up. We rank over 50 products on 16 different features, including price. We end up with a single score out of 10 that helps you compare home insurance a bit faster. We assess home and contents, building only and contents only products individually.

Read full Finder Score methodology

Name Product

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.

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Finder Awards badge

Congratulations, Honey!

Honey received highly commended award for 'Insurance Innovation' in the 2023 Innovation Awards.

Full list of 2023 winners

What additional cover options are available?

Honey has a good range of additional cover options - more than many other brands. They can include:

  • Accidental damage - Protection if your home or contents are accidentally damaged. For example, spilled wine ruins your favourite rug.
  • Mobile phones - Loss or damage to your mobile phone while in Australia or New Zealand.
  • Individual items - Increase the insured limit of individual items, such as jewellery.
  • Small business - Get covered for loss or damage to equipment or stock associated with your small business.
  • Away from home - Insure specific items while you're out of the house, such as jewellery, cameras, or handbags.
  • Motor burnout - Loss or damage to electric motors or sealed units that are up to 10 years old and is caused by motor burnout.

Honey home insurance claims process

Honey home insurance has an online claims process, managed through its website. You'll need the email you used when buying insurance to start the process. If you're not sure, or need help, you can contact Honey on 137 137.

Honey home insurance complaints information

Honey home insurance is provided by RACQ. In the last financial year, the Australian Financial Complaints Authority (AFCA) received 363 complaints about RACQ's home and contents insurance 93 of those were resolved at registration and referral, 270 progressed to case management and 712 of those were closed at case management.

FAQs

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Nicola Middlemiss's headshot
Journalist

Nicola Middlemiss is a journalist with nearly a decade of experience in personal finance and insurance. She has contributed to Domain, Yahoo Finance, Money Magazine and Insurance Business Australia, offering in-depth insights into commercial insurance in the Australian market. Nicola holds a Bachelor’s degree in English from the University of Leeds and a Tier 1 General Insurance (General Advice) certification, which complies with ASIC standards. See full bio

Nicola's expertise
Nicola has written 251 Finder guides across topics including:
  • Personal finance
  • Personal insurance, including car, health, home, life, pet and travel insurance
  • Commercial business insurance

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One Response

    AvatarFinder
    SarahJune 27, 2024Finder

    Hi Don,

    We’re a review and comparison site, we’re not affiliated with Honey directly. You can get in touch with them re: your questions on 137 137.

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