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…

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Based on 12,574 reviews
Seniors Home & Contents Insurance

Seniors Home & Contents Insurance 🏆 2024

4.7  (2,162)
 Summary
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Robyn McRae
Robyn McRaeNSW3 posts
 
Great value for seniorsI shopped around for home and contents insurance and Australian Seniors came up with the best price for the same cover quoted by other insurers. Great value! Show details ·  1
Kogan Home & Contents Insurance

Kogan Home & Contents Insurance

4.8  (51)
 Summary
Nina
NinaVIC
 
IMPRESSIVEEasy to get a quote and all else. Happy with price and their reviews from other customers. Show details ·  1
Honey Insurance

Honey Insurance 🏆 2024

4.2  (133)
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Sath
Sath
 
Big NoThere are cheap, but my personal experience, getting a claim is pretty much impossible. I called them to make a complaint, after getting connected they put me on hold again then Gave up calling them back. Show details
Youi Home and Contents

Youi Home and Contents

3.9  (1,337)
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Mr_Fussy
Mr_Fussy6 posts
 
Budget Direct Home & Contents Insurance

Budget Direct Home & Contents Insurance

3.8  (2,023)
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Shane B.
Shane B.QLD
 
Insurance for a house purchaseVery well expained to us over the phone. Helped with all our questions Show details
ahm Home and Contents Insurance

ahm Home and Contents Insurance

4.3  (43)
 Summary
Mick
MickVIC3 posts
 
Service & valueGood service & value. I've only had good experiences when dealing with AHM. Show details ·  1
QBE Home and Contents Insurance

QBE Home and Contents Insurance

3.2  (531)
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Ankit S.
Ankit S.VIC
 
Although I had issues with online process and Policy Generated. QBE Helpdesk resolved my issues quicklyAlthough I had issues with online process and Policy Generated. QBE Helpdesk resolved my issues quickly and also noted the issue and escalated internally . Very happy with the response from QBE team. Show details
Huddle Home and Contents Insurance

Huddle Home and Contents Insurance

3.8  (33)
 Summary
Jinhee Lee
Jinhee Lee
  Fair Incentive Verified
Easy to make a claim via online and quick responseEasy processing to claim via online
Reasonable progress time
Good communication
I have been with Huddle Insurance for 2 years Show details ·  1
Allianz Home Insurance

Allianz Home Insurance

2.5  (684)
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Gail Annesley
Gail Annesley2 posts
 
Value for MoneyLuckly I have not had to claim yet but I am sure I will be treated with respect and helped in every way. Show details
Real Home & Contents Insurance

Real Home & Contents Insurance

2.1  (209)
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RandM
RandMQLD6 posts
 
Real Insurance
Real Insurance   DM   
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RAC WA Home & Contents Insurance

RAC WA Home & Contents Insurance

2.0  (119)
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AnnieB
AnnieBPerth13 posts
 
APIA Home Insurance

APIA Home Insurance

1.8  (349)
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Wendy
Wendy
 
RAA Home and Contents

RAA Home and Contents

1.9  (78)
 Summary
marlar k.
marlar k.SA2 posts
 
NRMA Home Insurance

NRMA Home Insurance

1.8  (438)
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Satya Narayan
Satya NarayanNSW5 posts
 
Excellent and professional service given to meFor excellent service review for home and property insurance by Jake P insurance consultant and Cecille in claims department Show details ·  4
GIO Home and Contents

GIO Home and Contents

1.8  (173)
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OllieM
OllieMNSW36 posts
 
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)
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Steve
SteveNSW7 posts
 
CGU
CGU   DM   
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RACQ Home Insurance

RACQ Home Insurance

1.7  (171)
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Bruce
Bruce8 posts
 
AAMI Home & Contents Insurance

AAMI Home & Contents Insurance

1.6  (510)
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DENIS CONLAN
DENIS CONLANNSW4 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

Coles Home Building and Contents

Coles Home Building and Contents

1.6  (434)
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Steven G.
Steven G.VIC12 posts
 
Coles Insurance
Coles Insurance   DM   
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RACV Home & Contents

RACV Home & Contents

1.6  (192)
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stano2gonuts
stano2gonutsVIC2 posts
 
Everyday Home and Contents Insurance

Everyday Home and Contents Insurance

1.6  (517)
 Summary
Anne D.
Anne D.WA
 
The worst customer serviceThe worst customer service. I lodged a simple fusion claim for my pool pump. I have called several times, they keep telling me it is getting assessed and someone will get back to me. Over 2 months still waiting. They are hopeless and the wait time on the phone is appalling. Woolworths, you might want to re-think the underwriter!! Show details
Everyday Home and Contents Insurance
Everyday Home and Contents Insurance   DM   
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Suncorp Home Insurance

Suncorp Home Insurance

1.6  (205)
 Summary
Marki M.
Marki M.QLD
 
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  (35)
 Summary
edward
edwardVIC
 
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.

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