Best Home and Contents Insurance

While we can’t bring back our belongings if they get stolen or damaged, it is possible to help compensate for the financial loss of them through home and contents insurance. What are the different policies available and which is right for you? Continue reading…

Brand
Search brand...
Rating

Based on 12,667 reviews
Seniors Home & Contents Insurance

Seniors Home & Contents Insurance 🏆 2024

4.6  (2,178)
 Summary
  • Thumbnail
  • Thumbnail
  • Thumbnail
  • See all
    Thumbnail
Lynn B.
Lynn B.QLD2 posts
 
I have signed up for two insurance policies which were contents and car insuranceThe process was easy, staff was helpful and courteous. Review is finished Show details ·  1
Kogan Home & Contents Insurance

Kogan Home & Contents Insurance

4.8  (55)
 Summary
KylieE
KylieE
 
quick and easy to useQuick and easy to use to receive a quote. Affordable. Show details ·  1
Youi Home and Contents

Youi Home and Contents

3.9  (1,339)
 Summary
  • Thumbnail
  • Thumbnail
  • Thumbnail
  • See all
    Thumbnail
Ash
Ash
 
Honey Insurance

Honey Insurance 🏆 2024

4.1  (141)
 Summary
  • Thumbnail
  • Thumbnail
  • Thumbnail
  • See all
    Thumbnail
Nadin
Nadin
 
ClaimsTammy was absolutely helpful and was checking in with me. I couldn’t have ask for more, very professional and friendly Show details
Budget Direct Home & Contents Insurance

Budget Direct Home & Contents Insurance

3.8  (2,032)
 Summary
  • Thumbnail
  • Thumbnail
  • Thumbnail
  • See all
    Thumbnail
Ross
RossVIC
 
Budget Direct
Budget Direct   DM   
More
ahm Home and Contents Insurance

ahm Home and Contents Insurance

4.3  (45)
 Summary
chad
chad3 posts
 
Good servicegood service and reliable. Bit dfficult to get to a consultant on the phone Show details ·  1
QBE Home and Contents Insurance

QBE Home and Contents Insurance

3.2  (536)
 Summary
  • Thumbnail
  • Thumbnail
  • Thumbnail
  • See all
    Thumbnail
Karen M
Karen MQLD
 
A new policy holder experienceA very user-friendly website with clear graphics with all important information displayed. I believe after investigating quite a few insurance companies this is great value. Show details ·  1
Huddle Home and Contents Insurance

Huddle Home and Contents Insurance

3.7  (34)
 Summary
Tony M.
Tony M.NSW2 posts
 
Huddle Insurance
Huddle Insurance   DM   
More
Allianz Home Insurance

Allianz Home Insurance

2.5  (690)
 Summary
  • Thumbnail
  • Thumbnail
  • Thumbnail
  • See all
    Thumbnail
Leigh P.
Leigh P.VIC
 
Real Home & Contents Insurance

Real Home & Contents Insurance

2.1  (209)
 Summary
  • Thumbnail
  • Thumbnail
  • Thumbnail
  • See all
    Thumbnail
RandM
RandMQLD6 posts
 
Real Insurance
Real Insurance   DM   
More
RAC WA Home & Contents Insurance

RAC WA Home & Contents Insurance

2.0  (122)
 Summary
  • Thumbnail
  • Thumbnail
  • Thumbnail
  • See all
    Thumbnail
Quentin
QuentinWA
 
RAA Home and Contents

RAA Home and Contents

2.0  (79)
 Summary
marlar k.
marlar k.SA2 posts
 
APIA Home Insurance

APIA Home Insurance

1.8  (356)
 Summary
  • Thumbnail
  • Thumbnail
  • Thumbnail
  • See all
    Thumbnail
Martin G.
Martin G.
 
NRMA Home Insurance

NRMA Home Insurance

1.8  (443)
 Summary
  • Thumbnail
  • Thumbnail
  • Thumbnail
  • See all
    Thumbnail
Fishing Point
Fishing PointFishing Point2 posts
 
NRMA Insurance
NRMA Insurance   DM   
More
GIO Home and Contents

GIO Home and Contents

1.8  (175)
 Summary
  • Thumbnail
  • Thumbnail
  • Thumbnail
  • See all
    Thumbnail
nullifidian
nullifidian11 posts
 
Rip-off57% premium increase non-negotiable. I'm taking my three policies elsewhere (no claims for > 3 years). We're all being badly ripped off by insurance companies. Search for Michael West article "Silent Bill Killer". Show details
TIO

TIO

2.7  (14)
 Summary
Jess M.
Jess M.
 
Excellent serviceI have been a customer with TIO for 5 years. I have never had any issues with them and whenever I have spoken to someone they have been kind, professional and helpful. Show details
CGU Home and Contents Insurance

CGU Home and Contents Insurance

1.7  (169)
 Summary
  • Thumbnail
  • Thumbnail
  • Thumbnail
  • See all
    Thumbnail
silvie888
silvie888VIC16 posts
 
Moving to CGU? No thanksOMG just checked the reviews for CGU. An hour wait time to cancel a policy I never asked for. Referred by ANZ who have now partnered with them. ANZ was previously with QBE but this ends 18 April. Definitely not moving over to CGU.
CGU
CGU   DM   
More
RACQ Home Insurance

RACQ Home Insurance

1.7  (172)
 Summary
  • Thumbnail
  • Thumbnail
  • Thumbnail
  • See all
    Thumbnail
nick....
nick....Kedron13 posts
 
AAMI Home & Contents Insurance

AAMI Home & Contents Insurance

1.6  (513)
 Summary
  • Thumbnail
  • Thumbnail
  • Thumbnail
  • See all
    Thumbnail
Mohsin
Mohsin9 posts
 
Mk3

Mk3

2.2  (22)
 Summary
Troy and Cheryline Yates
Troy and Cheryline Yates
 
Amazing effortA huge thank you to Ben Archard and his team for all their help at one of the worst periods in our lives. You went above and beyond in your efforts to get us back in to our home.

We're truly appreciative of all your hard work. Show details ·  1

RACV Home & Contents

RACV Home & Contents

1.6  (192)
 Summary
  • Thumbnail
  • Thumbnail
  • Thumbnail
  • See all
    Thumbnail
stano2gonuts
stano2gonutsVIC2 posts
 
Coles Home Building and Contents

Coles Home Building and Contents

1.6  (436)
 Summary
  • Thumbnail
  • Thumbnail
  • Thumbnail
  • See all
    Thumbnail
Flash
Flash40 posts
 
Everyday Home and Contents Insurance

Everyday Home and Contents Insurance

1.6  (518)
 Summary
  • Thumbnail
  • Thumbnail
  • Thumbnail
  • See all
    Thumbnail
Sue Luttrell
Sue Luttrell
  Fair Incentive Verified
Excellent value for money on home and contents insurance, plus fully comprehensive car insuranceThe best insurance company is Woolworths, value for money and a 10% reward for your shopping bill every month. Show details ·  1
Suncorp Home Insurance

Suncorp Home Insurance

1.6  (206)
 Summary
David G.
David G.
 
Shannons Home and Contents Insurance

Shannons Home and Contents Insurance

1.7  (44)
 Summary
Robert Zsidai
Robert ZsidaiVIC
 
Shannons landlord insurance not worth the paper it’s written onMy tenant was in arrears for four months, so after they had vacated the house they had trashed it, leaving holes in the walls, broken windows, missing fixtures and rubbish throughout the property, so after waiting 3 months to claim for repairs and rental loss all was declined. Do not insure with them as a landlord under any circumstances Show details
Insurance 4 That

Insurance 4 That

2.0  (16)
 Summary
praetorianhd
praetorianhd
 
ING Home and Contents Insurance

ING Home and Contents Insurance

1.6  (36)
 Summary
Parthasarathy K.
Parthasarathy K.NSW2 posts
 
Always looking to refuse claimsYou would expect a roof leak to be covered by the insurance. When my roof was leaking after heavy rain, they plainly refused it saying it is because I haven't maintained the roof. It was restored just before 1 year and they wouldn't listen to me. Similar experience when a bathroom tile fell from the wall. I wouldn't recommend ING home insurance. Show details
Ansvar Insurance

Ansvar Insurance

2.1  (13)
 Summary
Teresa K.
Teresa K.QLD
 
Not Good companyPoor communication in Brisbane, not so easy to contact them. They dont response to any email. I have to call and follow up my issue with them, not very helpful at all. I have so many different types of insurance, this is the worst ever insurance i have encountered in my life. Show details
divenliveagua
divenliveagua9 posts
 
St.George Home & Contents Insurance

St.George Home & Contents Insurance

1.6  (32)
 Summary
Stacey C.
Stacey C.
 
Dont do itSales rep sells you on the features on your policy, only for the policy to "change" when it renews and the features they'd sold you on are no longer covered. Very deceptive with the policy renewal to not tell me of the changes and went to go make a claim and no longer covered. Extremely disappointed. Show details

Man protecting small model house from falling dominos with his hand.

What's the difference between home insurance and contents insurance?

There are three main types of home insurance – building insurance which covers damage to building fixtures, contents insurance which covers your personal belongings and a combination of home and contents insurance which covers both. For homeowners who require both, it is usually cheaper to combine the policies and buy them as a bundle rather than separately, otherwise, you might end up paying two excesses for the same claim.

An excess is how much of the cost you will cover before the insurance company pays the rest. For instance, an excess of $100 will mean you will cover the first $100 of damage and the insurance company will cover the rest.

Home insurance

Home insurance covers physical structures and buildings in your home, including but not limited to garages, carports, outbuildings, gates and fences. This also includes any permanently attached fixtures like solar panels, walls, ceilings, and floor coverings for loss or damage caused by a range of insured events.

Contents insurance

Contents insurance can provide compensation for the loss of or damage to items in your home caused by insured events. These items include things like furniture, furnishings, clothing, unfixed electrical goods, jewellery, sporting equipment and appliances.

Types of content insurance

Content insurance is broken down into two main policy categories: policies that compensate for the value of your belongings and another type that replaces your possessions with new items, which is called new-for-old. This type of insurance is typically more expensive than the previous kind.

Value of your belongings

Some contents insurance policies will only cover the current value of your belongings, which naturally tend to depreciate over time. This means that the compensation you receive from your insurer in the event of a claim may not cover the cost of replacing your furnishings and you will have to pay the difference out of pocket.

Pros
Lower premiums than new-for-old policies.
Cons
The money you receive from the insurer may not adequately cover your loss.
May have to spend significant time trying to replace items at a lower cost than what you originally paid for to avoid being out of pocket.

New-for-old

On the flip side, a new-for-old policy will mean that your insurer covers the entire cost of replacing your damaged items with new items - even if they are retailing at a higher price now than they did originally. Naturally, the premium you pay for this insurance is higher than the other option.

Pros
Can protect from depreciation, as you receive an equivalent replacement for your item.
Can save time, as you don't need to go looking for an item for less than what you originally paid to avoid being out of pocket.
Cons
These policies have higher premiums.

Individual items

You can add certain valuable items to your insurance for an additional premium. This can cover items that can be used outside the home such as jewellery, sports equipment or camera, laptops and mobile phones. Unlike the normal plan, these items can be insured for accidental damages and loss.

Furthermore, this is a good option for when the item's replacement cost goes above the general limit on most plans. For example, an engagement ring or an invaluable piece of art may be worth more than the maximum insurance coverage on basic plans which means an individual content insurance plan may be the way to go.

What does home insurance cover and not cover?

Each insurance company is different, therefore you should always read the terms and conditions in the Product Disclosure Statement (PDS) carefully to avoid any misunderstandings and to get an outline of what the insurance covers. Included should also be details of any excess you may have to pay in the event of a claim.

While tempting to skip, it's extremely useful to read the PDS in detail before signing up for any insurance policy since it'll outline any exclusions that come with a chosen level of coverage. This will save you any nasty surprises later down the road.

You can get different levels of coverage plans from the same insurer. A basic 'defined events' policy will only cover your belongings damaged or lost through specific events.

Generally, insurable events include things such as:

  • Fire
  • Theft
  • Storm
  • Earthquake
  • Explosion
  • Impact damage (such as from a car or a falling tree)
  • Escape of water (such as from a burst pipe)
  • Vandalism and riot

Broader coverage plans can also accommodate for accidental damage or let you insure items that can be taken out of the home such as cameras, jewellery or sporting equipment.

Keep in mind that many home insurance policies come with exclusions as they may not cover intentional damage or loss, damage caused by vermin or blemishes due to general wear and tear. Contents insurance may not be valid for loss of property via theft if the house was not properly secured or if the thief was let into the property.

Since every home and its contents will be valued differently, you'll have to enter your specific details in order to get a quote.

Landlord insurance

On top of house insurance, there is such a thing as landlord insurance that covers potential damage to your property by tenants or covers the cost of rent in the case that your house becomes uninhabitable due to an insured event.

Renters insurance

Those renting in a shared house can choose to buy a policy with their housemates as long as all of their names are on the policy. Choosing a policy with a higher excess and paying annually instead of monthly will lower the cost of the overall premium.

Is it worth getting home and contents insurance?

The age-old question remains: is getting home and contents insurance actually worth it? That answer depends on numerous factors such as how much you've invested into your property and contents and if you live in a high-risk area.

Even if we feel that our house is unlikely to get damaged or broken into, life is unpredictable and it's always a good idea to think about how best to financially deal in the worst-case scenarios. Getting basic coverage is advisable for every homeowner so you are not left stranded with no house or possessions in the case of an insured event or natural disaster.

In terms of forking out money for extra coverage and lower excess costs, that depends on how smoothly you want your claims process to go in the event of a claim. What you are essentially paying for is peace of mind that in the case that things do go wrong, you will be financially covered and the process will be efficient.

Here are some things you could consider when choosing whether taking out an insurance policy is right for you.

Value of your home

How much is your contents or house worth? Would you be able to cover the cost of repairs yourself in case things do go wrong? If you feel that you don't have a ton of valuables and live in a safe area, then it could be more cost-efficient to choose a plan with a high excess and low premium rate.

Vulnerability of your home

Do you live in a bushfire-prone area or somewhere with a higher crime rate? In this case, you might want to consider choosing a more comprehensive policy that will provide more security and a better return on investment in the long run.

Accidents do happen, and even though they're difficult to predict, having an existing home and contents insurance policy could save you a lot of future stress and money. Essentially, insurance policies are safety nets, and with the wide varieties of policies available, you can always pick a level of coverage that best suits your budget.

Factors to consider when buying home and contents insurance

Value for money

It could be useful to compare the different policies and quotes available to see which policy provides the best value for money for your specific needs. You can also read reviews to see how people rate a particular insurance company in this category.

Transparency

Another key factor you can scope out by reading trusted reviews is the transparency of your intended home insurance's policies.

Some companies may add sneaky charges or disclude common insured events in their PDS, preventing you from claiming the insurance when you need it.

Remember to read the policies carefully and speak to a representative for extra clarification should you require it. Be mindful to check for any exclusions and maximum claim limits.

Customer service

If you need to make a claim, you'll likely already be under pressure from the loss of your property or damage to your infrastructure. The last thing you need on top of that is stressful customer service. Paying a little extra for a company with a stellar customer service reputation is likely to reward you in time and energy down the road when asking queries or dealing with claims.

Claim resolution time

The claims resolution time is an important factor that contributes to overall customer satisfaction.

After a crisis, dealing with a company with a very slow resolution time can be frustrating and redundant. Read up on some reviews to see how long others had to wait for their compensation to come through. Some companies offer temporary living arrangements until they are able to fix your house as part of their policy.

Claim approval rate

The best way to find out whether an insurance company usually approves most of its claims is to read reviews. If a company consistently doesn't pay policyholders for claims when they should be according to the PDS, then it's likely to crop up in the reviews. This is valuable information that you won't see on their official websites or leaflets.

You can read reviews on the best home and contents insurance companies in the market today by scrolling up.

Disclaimer: The information on this website is for general information only. It should not be taken as constituting professional advice from the website owner - ProductReview.com.au. ProductReview.com.au is not a financial adviser. You should consider seeking independent legal, financial, taxation or other advice to check how the website information relates to your unique circumstances. ProductReview.com.au is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly, by use of this website.

©  ProductReview.com.au Pty. Ltd. All Rights Reserved. General disclaimer: All third party trademarks, images and copyrights on this page are used for the purpose of comparative advertising, criticism or review. This is a public forum presenting user opinions on selected products and businesses, and as such the views expressed do not reflect the opinion of ProductReview.com.au. Further details in the disclaimer.