HSBC Home Insurance review

What does HSBC Home Insurance cover?

HSBC Home Insurance offers 3 types of home insurance policies: building insurance, contents insurance, and combined home and contents insurance. It also has landlord insurance.

Some main events covered by HSBC Home Insurance include:

HSBC Home Insurance is underwritten by Allianz Australia Insurance Limited, which is one of the largest insurance companies in Australia. HSBC allows customers to choose their excess amount and has a cooling-off period of 14 days.

Here's the run-down of an HSBC Home Insurance policy

Here's some information on HSBC Home Insurance complaints

We looked at home insurance complaint 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 HSBC (Allianz Australia Insurance Limited) did:

• Compared to insurers of the same size, like AAI Limited and Youi, Allianz has a relatively low volume of complaints.
• Allianz has a lower percentage of complaints that were resolved at the first stage of escalation to AFCA compared to Hollard.

The bottom line about HSBC

HSBC Home Insurance can be an affordable option, especially if you're eligible for any multi-policy discounts or a no claim bonus. Some of its optional cover could be covered as standard by other home insurance brands so it's a good idea to compare before you commit.

Frequently asked questions

• How do I make a claim with HSBC?

  You can submit a claim form online at any time, and an HSBC Home Insurance consultant will get back to you as soon as possible. Alternatively, you can call 1300 555 030 to speak with a claims consultant who can help walk you through the process and answer any general queries.

  Before you start, make sure to have the following prepared:

  • Your policy number
  • Information about the incident
  • Details about the loss or damage you are claiming for
  • Information about any other people or property involved

• Does HSBC Home Insurance cover flood?

  Yes, HSBC does cover flood but only as an optional add-on. There are some exclusions that will apply including actions of the sea and tsunami so make sure to review the PDS to ensure you have enough cover for your home.

• How does the no claim bonus work?

  You can get up to 30% off your premiums after 5 consecutive years of no claims. You can also make 1 or 2 claims within this period but still qualify for a reduced discount level.

• Can I take out cover on a home still under construction?

  Yes. Note that you may have one kind of cover while your home is under construction, and a different policy after completion.

Leave an HSBC Home Insurance review

If you've held, or currently hold, an HSBC Home Insurance policy, we'd love to hear from you. Your reviews help other Australians decide if HSBC is right for them. Some reviews are from a survey commissioned by Finder.