Home insurance for older homes

It often costs more to get home insurance for older homes because there's more chance of something going wrong than with a new build. But our comparison table can help you compare features and keep costs down by clicking through for a personalised quote. Insurers will ask you a few questions about your home, which will take you a few minutes, but it's well worth it in the long run — you could save up to $1,653 a year just by comparing quotes.

Find home insurance for older homes

Name	Product	Finder score
Youi Building and Contents Insurance Youi Building and Contents Insurance 4.5/5★★★★★ Finder score Best Rated Brand	Storm Fire Theft Flood Accidental Damage (e.g TV falls) Impact to home (e.g falling trees) Escaped water (e.g burst pipe) Portable contents (e.g dropped laptop outside of home) + more insured events and other features Storm Fire Theft Flood Accidental Damage (e.g TV falls) Impact to home (e.g falling trees) Escaped water (e.g burst pipe) Portable contents (e.g dropped laptop outside of home) + more insured events and other features	4.5/5★★★★★ Finder score	Our verdict: Finder’s 2022 Insurer of the Year for Customer Satisfaction and our Top Pick for Fire Damage cover. It’s good if you want a tailored quote over the phone.	Get a quoteView details Compare	loading Fetching your data...
Budget Direct Home & Contents Insurance Budget Direct Home & Contents Insurance 4.5/5★★★★★ Finder score BonusFinder Award Finalist	Storm Fire Theft Flood Accidental Damage (e.g TV falls) Impact to home (e.g falling trees) Escaped water (e.g burst pipe) Portable contents (e.g dropped laptop outside of home) + more insured events and other features Storm Fire Theft Flood Accidental Damage (e.g TV falls) Impact to home (e.g falling trees) Escaped water (e.g burst pipe) Portable contents (e.g dropped laptop outside of home) + more insured events and other features	4.5/5★★★★★ Finder score	Our verdict: The most popular insurer on Finder, Budget Direct prioritises low-cost cover and gives you up to 30% off your first year for new combined policies purchased online.	Get a quoteView details Compare	loading Fetching your data...
QBE Home & Contents Insurance QBE Home & Contents Insurance 3.5/5★★★★★ Finder score Green CompanyBonus	Storm Fire Theft Flood Accidental Damage (e.g TV falls) Impact to home (e.g falling trees) Escaped water (e.g burst pipe) Portable contents (e.g dropped laptop outside of home) + more insured events and other features Storm Fire Theft Flood Accidental Damage (e.g TV falls) Impact to home (e.g falling trees) Escaped water (e.g burst pipe) Portable contents (e.g dropped laptop outside of home) + more insured events and other features	3.5/5★★★★★ Finder score	Our verdict: Finder's Top Pick for Floods plus cover for other common claims such as fire and theft). Its discount is better than most – 20% off your first year with a combined policy.	Get a quoteView details Compare	loading Fetching your data...
Honey Home & Contents Insurance Honey Home & Contents Insurance 4.5/5★★★★★ Finder score Bonus	Storm Fire Theft Flood Accidental Damage (e.g TV falls) Impact to home (e.g falling trees) Escaped water (e.g burst pipe) Portable contents (e.g dropped laptop outside of home) + more insured events and other features Storm Fire Theft Flood Accidental Damage (e.g TV falls) Impact to home (e.g falling trees) Escaped water (e.g burst pipe) Portable contents (e.g dropped laptop outside of home) + more insured events and other features	4.5/5★★★★★ Finder score	Our verdict: Honey gives you $250 smart sensors to reduce accidents and estimates your rebuild costs for you. Honey was a finalist for the comprehensive category in this year’s Finder Awards.	Get a quoteView details Compare	loading Fetching your data...
Australia Post Home & Contents Insurance Australia Post Home & Contents Insurance 3.5/5★★★★★ Finder score Finder AwardBonus	Storm Fire Theft Flood Accidental Damage (e.g TV falls) Impact to home (e.g falling trees) Escaped water (e.g burst pipe) Portable contents (e.g dropped laptop outside of home) + more insured events and other features Storm Fire Theft Flood Accidental Damage (e.g TV falls) Impact to home (e.g falling trees) Escaped water (e.g burst pipe) Portable contents (e.g dropped laptop outside of home) + more insured events and other features	3.5/5★★★★★ Finder score	Our verdict: Covers common claims such as fire, storms, floods and rain. It’s also very helpful if you need to rebuild following a disaster. It offers a special safeguard of up to 30%.	Get a quoteView details Compare	loading Fetching your data...
Kogan Home & Contents Insurance Kogan Home & Contents Insurance 3/5★★★★★ Finder score Bonus	Storm Fire Theft Flood Accidental Damage (e.g TV falls) Impact to home (e.g falling trees) Escaped water (e.g burst pipe) Portable contents (e.g dropped laptop outside of home) + more insured events and other features Storm Fire Theft Flood Accidental Damage (e.g TV falls) Impact to home (e.g falling trees) Escaped water (e.g burst pipe) Portable contents (e.g dropped laptop outside of home) + more insured events and other features	3/5★★★★★ Finder score	Our verdict: Good comprehensive cover (issued by QBE). Also, get 16% off on your first year's premium when you purchase a new combined Home & Contents insurance policy online + $10 monthly credit. T&Cs apply.	Get a quoteView details Compare	loading Fetching your data...
Qantas Home and Contents Insurance Qantas Home and Contents Insurance 4.5/5★★★★★ Finder score BonusFinder Award Finalist	Storm Fire Theft Flood Accidental Damage (e.g TV falls) Impact to home (e.g falling trees) Escaped water (e.g burst pipe) Portable contents (e.g dropped laptop outside of home) + more insured events and other features Storm Fire Theft Flood Accidental Damage (e.g TV falls) Impact to home (e.g falling trees) Escaped water (e.g burst pipe) Portable contents (e.g dropped laptop outside of home) + more insured events and other features	4.5/5★★★★★ Finder score	Our verdict: Earn up to 30K Qantas Points for joining by 30 September. Plus save 30% on your 1st year’s premium for purchasing a combined home and contents policy online. T&Cs apply.	Get a quoteView details Compare	loading Fetching your data...

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I have a mid-century home that contains some asbestos, particularly in the wet areas. It's in very good condition – even builders have commented on how well maintained the property is – but a number of home insurance providers wouldn't even give me a quote. I personally found Allianz and Youi very helpful when discussing the home's age and asbestos at the time. Now when I compare cover, I always triple-check the conditions – and make sure to increase the sum insured, as the cost of replacing the property would be higher with asbestos removal.

— Amy Bradney-George, Personal finance expert

Why are older homes harder to insure?

As a general rule, older homes present a higher risk to insurance companies. Here's why:

Older homes are more likely to suffer damage

For example, they may have been constructed with out-of-date materials that simply won't stand up to storm damage. Or the plumbing and electrical wiring may have deteriorated, which can cause expensive damage.

Renovations

You'll also need to consider the amount of repair work that needs to be done on your home. For example, home insurance will often cost more if you plan to renovate. You also won't be covered for claims if you move out for an extended period while work is being completed.

Repair work can be expensive

If part of your home is damaged and you want to have it repaired to match the rest of the dwelling, this can be expensive. Making sure the repair work is historically accurate can be a costly exercise, with materials and labour expenses higher than if you simply needed a standard rebuild.

What to keep in mind when getting home insurance for an older home

Insurance is often one of the last things you think about when buying a home. But if you're about to sign the contract to purchase an older home, remember that there are several factors that can affect your home insurance.

• Roofing
• Wiring
• Plumbing
• Construction
• Heritage-listed homes
• Wood burning stoves

Roofing

Roof condition is one of the key factors insurers will consider when determining the cost of insurance. The age of the roof, the materials used in its construction and its current state of repair will all be taken into account.

You should also be aware that claims resulting from leaky roofs caused by a lack of maintenance are commonly rejected by insurers, so you'll need to make sure you stay on top of any routine maintenance tasks.

Wiring

If your older home is sporting an outdated electrical system, this greatly increases the risk of fire. Knob and tube wiring, common in houses more than 50 years old and especially those built before World War II, can be a particularly common cause of problems. Not only may a full house rewire be a major priority for the safety of your family, but it could also be a requirement if you want to take out home insurance.

Plumbing

An outdated plumbing system increases the risk of flooding, so the ancient plumbing in your old home won't be seen as a feature by insurers. Before agreeing to cover you, an insurer may request that the outdated plumbing system in your home be replaced within a certain timeframe, so you'll need to factor this cost into your budgeting when working out the cost of buying the home.

Construction

There are several other factors about a home's construction that insurers will consider when deciding whether to provide cover. For example, how secure are the home's foundations? Is there asbestos present? When was it built?

It's common for insurers to send out an assessor to examine your home in person and determine the risks faced.

Heritage-listed homes

Insuring an older home can be particularly difficult if that home happens to be heritage-listed. If a heritage-listed building is partially damaged, the cost of restoring that part of the property to match the original home can be very expensive. Many of the materials used to construct listed homes are simply not readily available, and the job may even require the expertise of specialist tradesmen, architects and other professionals.

Despite these difficulties, it is still possible to find cover for heritage-listed homes, but cover may cost extra. You'll also usually need to supply a valuation which shows the true replacement cost of the property, and the insurer may include a clause requiring you to contribute to the cost of repairing the property if it is under-insured.

Wood burning stoves

From a home safety point of view, wood burning stoves and open fireplaces fall well short when compared to modern heating solutions. As a result, many policies exclude damage caused by combustion heaters and open fireplaces from cover.

With this in mind, you may wish to consider reverse cycle air conditioning or perhaps another form of heating for your home.

Renovating an older home? Here's what you need to know

When you’re preparing to renovate a home of any age, never assume that your home and contents insurance will automatically cover you. The policy terms and conditions surrounding renovations vary from one insurer to the next, so it’s essential that you read the fine print and contact your insurer for clarification if you’re unsure.

As a general rule, smaller jobs that won’t have any effect on the external structure of your house or on its structural stability won’t harm your cover. As long as your home is still secure, you should still be protected. However, most insurers will exclude water damage that occurs during the renovation or as a result of the work being done.

However, if your home requires extensive renovation work to most or even all of the house, you probably won’t be covered by your home and contents insurance. Not only do construction sites represent a higher risk of damage to your home, but they can also attract thieves and vandals like moths to a flame.

If you employ a licensed builder to do the work, they should have construction insurance to provide protection against damage to your home. If you choose to DIY, you’ll need to consider your owner-builder insurance options.

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Home insurance for older homes FAQs

• Can I get heritage building insurance?

  Yes. Standard home insurers can cover heritage-listed buildings. Insurance companies are likely to come out and assess your property's condition, location, plumbing and electricals though.

• Is homeowners insurance more for older homes?

  Yes, if you buy an older home, you can generally expect to pay more for home insurance. This is because old homes cost more to rebuild or repair, and often have faults that newers homes don't.

• Can a house be too old to insure?

  Yes, some home insurance companies might not cover you if your home is considered too hazardous and risky to insure. However, if you are able to repair any of them, you might be able to get covered.

Written by

Gary Ross Hunter

Editor, Insurance & Innovations

Gary Ross Hunter was an editor at Finder, specialising in insurance. He’s been writing about life, travel, home, car, pet and health insurance for over 6 years and regularly appears as an insurance expert in publications including The Sydney Morning Herald, The Guardian and news.com.au. Gary holds a Kaplan Tier 2 General Advice General Insurance certification which meets the requirements of ASIC Regulatory Guide 146 (RG146). See full bio

Gary Ross's expertise

Gary Ross has written 725 Finder guides across topics including:

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