Allianz, the provider of Hume Bank's cover, won a range of Finder's customer satisfaction awards.
Lots of added extras are covered, including solar panels, storm surge, lock replacement, and environmental upgrades.
Up to $7,500 is covered for jewellery, which is generous considering most brands cover around $5,000.
Cons
There's no choice to add underinsurance protection, a popular benefit offered by around 40% of insurers.
Hume Bank's 14-day cooling off period is shorter than most, with some brands offering up to 30 days.
There is some ambiguity over certain benefits, including "reasonable costs" for home office contents.
How does Hume Bank compare with other popular providers?
Price
Finder research indicates that, on average, a Hume Bank home insurance policy is around $3,033 a year - that's around 10% more expensive than average. However, the price of your own policy could be vastly different, as quotes are based on the specific details of your home.
These products offer a balance between low pricing and more features.
7+
Great
Competitive products within their group.
5+
Standard
Usually these products would either have fewer benefits or higher pricing.
0+
Basic
Offering basic cover with limited features or higher pricing.
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.
Hume Bank home insurance offers a range of optional covers, including:
Accidental damage: Available for both buildings and contents, accidental damage protects you in the event of unexpected damage, caused unintentionally. For example, spilling a tin of paint on your carpet.
Motor burnout: Available for both buildings and contents, motor burnout covers you if an electrical current damages your household electrical motors.
Domestic workers' compensation: Only offered in Tasmania, WA and the ACT, this covers you if a domestic worker suffers an injury or illness due to the work at your home.
Portable contents: Available for both buildings and contents, this covers loss or damage to personal items designed to leave your insured address, such as a handbag or jewellery.
How to make a claim
To claim on your Hume Bank home insurance policy, you can fill out a secure online form or give Allianz a call on 1300 555 030. Before you start your claim, you should have details on hand including reasonable proof of loss, your policy information, information about the incident, details about the loss or damage, and information about anyone else involved.
FAQs
Hume Bank is a customer-owned bank, which means it is owned by its customers, rather than shareholders.
You can call Hume Bank on 1300 004 863 (Monday to Friday 8am to 5:45pm and Saturday 9:30am to 12pm). Alternatively, you can email Hume Bank at hume@humebank.com.au.
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.
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