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Mortgage Choice Home Insurance

Mortgage Choice Home Insurance is convenient and competitively priced. Just don’t forget to read the fine print.

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Our Verdict

  • It's good for pet owners. Mortgage Choice can provide alternative accommodation for your pets if you claim for an insured event, and covers $500 in vet costs if they're injured in a road accident.
  • It's competitively priced and comes with flexible payment options. You can pay monthly or yearly at no extra cost – not all insurers do this.
  • Mortgage Choice doesn't offer discounts for signing up online, unlike other brands.
  • Flood cover is only available as an optional add-on so you'll need to factor in the additional cost if you need it.
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What does Mortgage Choice Home Insurance cover?

Mortgage Choice, though better known for its home loan services, also offers a range of home building and contents insurance policies to meet the needs of homeowners. Mortgage Choice Home Insurance offers 3 options to customers: building, contents, and a combined home and contents policy. To add to that, Mortgage Choice also offers landlord insurance.

Some main events covered by Mortgage Choice Home Insurance include:

Mortgage Choice Home Insurance policies are issued by respected insurance provider, Allianz Australia Insurance Limited. It offers customers a wide choice of basic excess amounts (from $500 to $10,000) and has a cooling-off period of 14 days.

Here's a rundown of a Mortgage Choice Home Insurance policy

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Standard features

Here are some of the standard inclusions you'll get with a Mortgage Choice home insurance policy:
  • Alternative accommodation for you and your pets
  • Cover when you're moving house
  • Debris removal
  • Environmentally friendly rebuild
  • Food or medicine spoilage
  • Legal liability
  • Replacement locks
  • Vet costs

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Optional add-ons

To get more protection, you can add these benefits to your policy for an additional cost:
  • Domestic workers' compensation cover
  • Flood cover
  • Motor burnout
  • Portable contents

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All home insurance policies will have general exclusions. Here are a few scenarios which Mortgage Choice considers an exclusion and will not pay a claim:

  • Actions of the sea
  • Deliberate, intentional, malicious or criminal acts
  • Inherent defect
  • Insects, birds and vermin including native animals
  • Rust, damp or chemical damage
  • Soil movement including erosion and landslides
  • War, hostilities or warlike operations
  • Wear and tear

Make sure you read Mortgage Choice's Product Disclosure Statement for a full breakdown of exclusions. You can also head to general exclusions for more information.

Here's some information on Mortgage Choice 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 Mortgage Choice (Allianz Australia Insurance Limited) did:

  • Allianz received 338 complaints over this period, the lowest volume of complaints we looked at compared to other insurers of similar size.
    • Only 32.35% of complaints were resolved directly with customers.

    The bottom line about Mortgage Choice

    If you're looking for competitive insurance protection for your buildings and contents, Mortgage Choice Home Insurance is a solid option. Just make sure to compare the policies it offers with others on the market to make sure you find cover that offers you enough features and value for money.

    Not sure yet? Compare other home insurance brands side-by-side using our insurance comparison so that you end up with a policy you're happy with.

    Frequently asked questions

    Leave a Mortgage Choice Home Insurance review

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

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