E
I
K
W
Y
More resources on Finder
Ask a question
I’m seeking Home and Contents Insurance for the property that I own.
I also opperate a home based small business from a workshop, in the back yard of this same property.
Hi John, Check out our main home insurance comparison to compare options available. You might want to look at including any workshop equipment as a specific listed item.
Cost of Insurance Premiums
I would like a breakdown of what aspects you enter into the “quote process” that have the largest impact on your premium rate. I have gotten a premium that is over $1000 cheaper with Budget Direct (BD) than any other provider that I can get a quote from, however, I have tried 5-6, and I know there are more. Why is BD so cheap? How come when I speak to other people, they might have their home insured for 3x the amount that mine is insured, and yet their premiums are the same as what I am getting quoted from other providers?
Hi Chris,
We’re unable to provide a breakdown, as each insurer prices risk differently and they don’t share this information publicly. There are different factors that influence the price of your premium which means even your next door neighbour could pay a different price to you, as their home might be closer to tall trees, nearer to a flood zone, the owner might have a higher claims history, the premises may be made of different materials that are more expensive than yours to repair, etc.
The price of premiums changes every year as well. You might talk to someone whose premium is cheaper than yours this year, but is 50% higher next year. Personally, my home insurance policy has doubled twice in the last 5 years due to increasing construction costs and shifting risk profiles in my neighbhourhood. Fortunately, every time the premium drastically increases, I’ve been able to compare on Finder and pay less with a different insurer.
Hope this information helps provide extra context and best of luck!
My home is heritage listed with the local council, would you insure it?
Hi William,
This guide might give you some more information about insuring older and heritage listed homes. You may want to engage an insurance broker to help you find the right kind of insurance with you – brokers work with a lot of specialist insurers who can assist with unique homes like heritage listed properties. Hope this helps!
Need insurance on storage locker at a National Storage site
Hi Richard, Your options here will depend on the kind of items you’re storing. If they’re personal effects, portable contents insurance might be relevant. If they’re business items, you might need to look at business insurance. It would also be worth asking the operator of the storage site what insurance options it has in place already for the site and if extra cover can be purchased.
I have a stanalone granny flat, will this be covered in my home insurance policy?
Hi John,
This guide might be useful for you.
Generally, if the granny flat is on the same title as your main house and the granny flat is not rented out, then it might be covered as part of the insurance of the main house. If you rent it out and gain an income from the granny flat, then you may need landlord insurance. Every lender has a different policy, so it’s worth double checking what applies with your insurer.
Hope this helps!