Hume Bank Home Insurance Review

Its helpful inclusions and monthly premiums are some of the reasons why it's worth considering Hume Bank home insurance.

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Our Verdict

  • Hume Bank home insurance has some pretty unique perks. For instance, if your building is totally destroyed, in addition to the sum insured you select, it will pay up to $5,000 to help you make the new building more environmentally friendly.
  • It lets you pay monthly at no extra cost. Insurers including Budget Direct, Qantas and Virgin don't do this.
  • Its 20% discount for buying online and combining building and contents insurance isn't market-leading — Budget Direct, St.George and Westpac can all offer more.

Review by our insurance writer Gary Hunter.

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What does Hume Bank home insurance cover?

Hume Bank offers both building and contents insurance. Renters, for example, might just want contents insurance to cover their belongings, while a homeowner may want complete protection, with both home and contents insurance.

It comes with a 14-day cooling off period which is less than many other insurers (the standard is 21 days). You can cancel within this timeframe and you won't be charged, unless you make a claim. You'll also need to pay an excess when you make a claim and an additional imposed excess amount of $250 applies for earthquake or tsunami loss or damage.

Here are some of the main events you'll be covered for with Hume Bank:

An overview of Hume Bank home insurance features

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Standard features

If an insured event occurs, Hume Bank home insurance can help pay for:
  • Alternative accommodation
  • Debris removal
  • Rebuilding and professional fees
  • Making your home environmentally friendly
  • Building code compliance costs

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Optional add-ons

Hume Bank is good if you want the flexibility to add on extra protections. It comes with the following add-ons:
  • Accidental damage
  • Flood
  • Motor burnout
  • Domestic workers compensation
  • Portable contents

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Exclusions

Like all insurers, there are events you won't be covered for. With Hume Bank, this includes:
  • Actions of the sea
  • Floods (unless added on)
  • Earth movements
  • Wear and tear
  • Inherent defects

Be sure to read Hume Bank's PDS for a full list of general exclusions.

Bottom line about Hume Bank home insurance

Hume Bank home insurance is good if you want an insurer that lets you pay monthly at no extra cost and comes with some fairly unique perks, such as rebuilding your home to make it more environmentally friendly. However, it's possible to get bigger discounts elsewhere.

To compare other home insurance policies side-by-side, you can head here.

FAQs about Hume Bank home insurance

A note on Hume Bank home insurance reviews

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

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