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National Seniors home insurance review

National Seniors home insurance lets you pay monthly at no extra cost, but it doesn’t offer any unique perks if you’re over 50.

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By

Gary Ross Hunter

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Our verdict

  • You can pay monthly at no extra cost. Many insurers, including Budget Direct, Qantas and Virgin, charge you more if you want to pay by the month.
  • National Seniors home insurance is good if you want to go with a popular insurer. Its policies are underwritten by Allianz, one of the biggest insurers in Australia.
  • Despite the name, there's not much that makes National Seniors a better option if you're over 50. Its 10% multi-policy discount is similar to other competitors, including Westpac and St.George but not as large as Virgin at 30%.

Review by our insurance and innovations editor Gary Ross Hunter

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What does National Seniors home insurance cover?

National Seniors offers the following home insurance policies:

  • Buildings cover. This covers the physical structures that make up your home, which can include the garage, sheds, built-in swimming pools, decks as well the house itself.
  • Contents cover. This covers the items and belongings at your home, which can include furniture, white goods, electrical appliances, clothing and more. It also covers carpets and window furnishings.
  • Buildings and contents cover. This combines the cover you get for building and contents, covering you for events including fire and theft, storms and more.

Some main events covered by National Seniors include:

National Seniors home insurance features

Standard features
Optional add-ons
Exclusions

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Standard features

These are some of the standard features that you can claim on if an insured event like a fire or storm causes loss or damage:

  • Key and lock replacement
  • Accidental damage
  • Burning out of an electric motor
  • Alternative accomodation
  • Modifications to your buildings
  • Contents in transit
  • Debris removal and demolishing
  • Document damage
  • Funeral expenses
  • Legal liability
  • Guests' or visitors' belongings

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Optional add-ons

National Seniors only offers a handful of optional add-ons. Keep in mind that you will need to pay extra to have these benefits covered.
  • Accidental damage
  • Portable contents
  • Motor burnout
  • Flood cover
  • Domestic workers' compensation cover

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Exclusions

The exclusions are situations where a policy will not pay out. All insurance policies will carry their own exclusions and they vary depending on your chosen cover level. Some of the common exclusions you'll find with these cover types, and many others are:

  • No cover for lawful seizure of property, such as repossession by a finance company
  • No cover for damage caused by acts of war or terrorism
  • No cover for damage caused by nuclear materials
  • No cover for damage caused by property deterioration, shoddy workmanship or faulty repairs

Some information on National Seniors 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 National Seniors (Allianz Australia Insurance Limited) did:

  • Despite its very large size (which generally means you can expect it to have more complaints), Allianz received a smaller proportion of complaints compared to other insurers.
    • Only a small percentage of complaints were resolved directly with customers, which isn't the best endorsement of its customer service.

    What's the excess like?

    The excess is an amount that needs to be paid when you make a claim. There are 2 types of excess that may apply:

    • Standard excess: This will apply to most claims. You may be able to select a higher excess if you want to pay a lower premium or a lower excess for a higher premium.
    • Additional imposed excess: This will apply to specific types of claims or in certain situations like an earthquake or tsunami. Generally, an excess of $250 might be charged on top of the standard excess.

    Who is eligible for cover?

    National Seniors Insurance is for:

    • People over the age of 50
    • A partner or spouse of someone in the 50+ age bracket
    • Someone connected to or otherwise focused on senior issues

    How do I make a claim?

    The most efficient way to make claims is via the online form. This method is available 24 hours a day, 7 days a week. Once it is lodged, a claims consultant will contact you as soon as possible. If you have an issue that requires immediate attention, such as malicious property damage or theft, note this in your online claim and it will be addressed within 48 hours. For more information, or to discuss your insurance and claims, you can call National Seniors Insurance on 1300 65 17 77.

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    The bottom line about National Seniors

    National Seniors home insurance is good if you want to pay monthly at no extra cost, but it doesn't offer any unique perks if you're over 50. You'll also find bigger sign-up discounts with insurers such as Budget Direct and ING.

    Not sure if you're ready to take out a policy? Compare other home insurance brands side-by-side to find a policy you're happy with.

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