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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.
Sorry! We currently don't have this brand on our panel. But don't fret, you can head to the Mortgage Choice Home Insurance website or compare a bunch of other home insurance companies with Finder.
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
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
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
Exclusions
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
When you contact Allianz (the insurance issuer) to inform it of your claim, you will need to provide full details either verbally or by filling out a claim form online. Depending on the nature of your claim, you may also need to provide documentation such as receipts, proof of ownership or police reports to support your claim.
Flood cover is available with Mortgage Choice but it is an optional cover which means you'll need to pay extra for it. Mortgage Choice's flood cover does not include loss or damage due to storm surge.
Yes, Mortgage Choice offers a variety of ways to help reduce your premium, including:
No claim bonus. You can enjoy a saving on your premium for each year you don't make a claim under your Mortgage Choice policy, up to a maximum discount of 30%.
Choose a higher excess. If you choose to increase the amount of excess you will have to pay when you make a claim, you can in turn receive a lower insurance premium.
Combine your cover. Bundle building and contents cover together on a single policy to receive a discount of up to 10%.
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.
Cristal Dyer is a travel writer at Finder. She has been writing about travel for over five years and has visited over 40 countries around the world. Cristal currently travels full-time, writing about her favourite cities and food finds, and she is always on the lookout for amazing flight deals to share.
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