Best home insurance

To help you find the best home insurance in Australia, we researched 60+ policies and picked 5 based on value, features, price and more.

Top pick:
Value
Finder AwardBonus
  • 2023 Finder award winner for value
  • Cheaper than many competitors
  • Fire, storm and theft cover
Top pick:
Price
  • On average, the cheapest home and contents policy
  • Cover for natural disasters
  • Flood damage automatically included
Top pick:
Floods
Green CompanyBonus
  • Save up to 20% when you buy online (T&Cs apply)
  • Cover for storms, fires, theft, floods and more
  • Finder’s Green Insurer of the Year 2022
Top pick:
Comprehensive
Finder AwardBonus
  • Finder Award Comprehensive winner
  • Gives you $250 worth of smart sensors
  • Actively helps you prevent accidents and claims
Top pick:
Perks
BonusFinder Award Finalist
  • Earn Qantas Points when you sign up
  • Earn 1 Qantas points for every $1 of premiums
  • Combined discounts available

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Finding the best home insurance

We believe it should be easier to find good value home insurance. To save you time (and hopefully lots of money), Finder's insurance experts have analysed over 60 of Australia's most popular home and contents insurance policies. Our picks include policies that have received Finder home insurance awards for value and comprehensiveness, plus others our experts believe offer something unique. Remember, there's no single best home insurance policy that suits everyone because we each have different budgets and priorities for the things we want to protect.

About Finder's home insurance methodology.

Why you can trust our research

68

policies analysed

312

quotes gathered

100+

hours of research

Best for value: Budget Direct home and contents insurance

Budget Direct home insurance
Finder award home insurance value

What we like about Budget Direct:

  • It won the 2023 Finder home insurance award for value. It won because it provides a similar level of cover to the other 20 eligible policies but at a cheaper price. It offers comparatively cheap home insurance – an average of $1,365 per year, according to our awards research.
  • You get 30% off your premiums for the first year. No insurer on the market permanently offers more than this. Keep in mind this is a first-year discount only. After this, your premiums will increase. It's worth shopping around after the first 12 months to make sure it's still a competitively-priced policy.
  • It covers you for most of the essentials, such as fires (including bushfires), storms and rainwater, escape of liquid (e.g. a burst pipe) and theft. You need to pay extra if you want flood protection though.
  • Unlike most insurers, a Budget Direct home and contents insurance policy doesn't automatically cover floods. If you live in a flood-prone area, you should seriously consider adding this optional extra for an additional fee. You can do this when you get a quote.
  • The 30% off is a first-year discount only. After this, your premiums will increase. It's worth shopping around after the first 12 months to make sure it's still a competitively-priced policy.
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Best for comprehensiveness: Honey home and contents insurance

Honey insurance
Finder award home insurance comprehensive

What we like about Honey:

  • It won the 2023 Finder Award for comprehensiveness because it covers more than the majority of insurers and comes with higher limits. Its home and contents policy comes with automatic flood cover, up to $20,000 towards your home office contents, $6,000 towards jewellery and you can pay monthly at no extra cost. It also won the Finder Insurance Innovation award.
  • It's time-saving. It takes around 3 minutes to sign up and estimates your rebuild costs for you. It's the only insurer on the market to do this.
  • You get $250 worth of smart sensors when you sign up. These help detect household accidents and prevent you from having to make claims (stopping your premiums from increasing). It covers all the essentials still though – fires, bushfires, storms, theft and leaks – and then some. It automatically covers storm surges and floods.
  • The main benefit of Honey is probably the smart sensors. If you don't want to use them, a policy isn't as good value for money.
  • Honey is relatively new to the market so some might rather go with a more well-known brand.

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Top pick for price: Youi home and contents insurance

Youi Insurance Logo

What we like about Youi:

  • Youi offered the cheapest home and contents insurance policy according to our research of 31 of Australia's most popular insurers including AAMI, Budget Direct and Allianz. It costs an average of $1,329 per year, $100 less than the second cheapest insurer AAMI.
  • It covers the essentials, such as fires and bushfires, but goes further than most. It will also cover soot or smoke damage from a bushfire or any other accidental fire within 100 metres of your home and pay for temporary accommodation if you're told by the local authorities to evacuate
  • Its PDS is much more detailed than others. For example, it clearly specifies you're covered for accidental fires, including fires caused directly by mechanical or electrical failures. Some other insures don't mention this, others will cover it under accidental damage but as an optional add-on. It also covers all the other most common reasons for claims too – for example, storms, escaped water (like a burst pipe) and theft.
  • Its main downside for some is probably the application process. Unlike other insurers, you often have get a quote over the phone.
  • Like the majority of insurers we researched, you will need to pay extra if you want cover for accidental damage. Everyday, Aus Seniors, NRMA and Huddle are among the insurers who do cover this automatically.

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Top pick for floods: QBE home and contents insurance

QBE insurance

What we like about QBE:

  • QBE automatically covers flood damage. It's included in the insured event storm, storm surge, rain, hail or flood. This makes claiming a little simpler. With most insurers, storms and floods are considered 2 separate insured events. This means if there is storm and flood damage to your home, you may need to pay 2 excesses – but not with QBE.
  • It covers forced evacuation by a government authority. For example, if you need to leave because of a flood risk, QBE can pay for temporary accommodation for up to 60 days.
  • It can also cover debris removal which can be very costly if your home is damaged or destroyed, plus pay for the temporary storage of your undamaged belongings.
  • Like other insurers, QBE won't cover damage due to lack of maintenance (for example, if your gutters overflow due to a build-up of leaves or other debris) so make sure you keep your home in order to avoid any problems with claiming.
  • Its quality cover comes at a price. QBE is one of the more expensive home insurers on the market, costing an average of $2,108 per year, according to Finder research.

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Top pick for perks: Qantas

Qantas Life Insurance Logo

What we like about Qantas:

  • You earn 1 point for every $1 you spend on your premium and up to 40,000 Qantas Points when you join by 31 July. (Eligibility criteria and T&C's apply).
  • It came second in the Finder Awards for value, Budget Direct was first. Qantas policies are actually issued by Auto & General, who underwrite Budget Direct. That means you're getting almost identical cover (fires, storms, escape of liquid (e.g. burst pipes) and theft) but you can earn points as well.
  • You can earn more points for keeping your house in order on the Qantas Wellbeing App. This can include cleaning your gutters, checking your smoke alarms and logging it on the Qantas Wellbeing App.
  • If you're not interested in earning points, Qantas probably isn't the best policy for you. Coles, Everyday (formerly Woolworths) and Virgin Money are some alternative home insurers with reward schemes.
  • It also doesn't automatically cover floods or accidental damage. You will need to pay more if you want this included. Youi, AAMI and Honey are similar in price to Qantas but automatically cover flood damage.

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Finder home insurance awards

Our team of experts researched 68 home insurance policies and selected 2 Finder Award winners based on value and comprehensiveness.

Home insurance award winner - value

Budget Direct: 2023 value winner

Budget Direct is cheaper than most insurers and it covers most of the essentials such as fires, storms and theft (but not floods).

Finder home insurance award winner - comprehensive

Honey: 2023 comprehensive winner

Honey gives you $250 worth of smart sensors when you sign up to help detect and prevent household accidents.

Expert tips on finding the best home insurance for your needs

Want to compare for yourself? Find the best home insurance for you

Tip: You can request a quote from more than one insurer. In fact, that's the best way to save money. Review benefits, request quotes and compare prices.

1 - 9 of 32
Name Product Underinsurance Protection
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)
  • 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)
Optional add-on
an extra 25% cover
Our verdict: The most popular insurer on Finder, Budget Direct prioritises low-cost cover and gives you up to 30% off your first year. This is a big reason it won this year’s Finder Award for value.
  • 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)
  • 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)
No
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.
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)
  • 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)
Yes
an extra 30% cover
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.
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)
  • 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)
Yes
and up to an additional 30% extra for demolition and design fees
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.
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)
  • 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)
No
Our verdict: It covers more than most and you can get 10% off your Woolies shop. Watch out for underinsurance though – there’s a $15k limit on debris removal fees (this can cost $100k).
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)
  • 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)
Yes
an extra 30% cover
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%.
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)
  • 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)
No
Our verdict: Senior Card holders can get up to 30% off and it covers accidental damage, unlike many others. Make sure your rebuild costs are accurate though – Aus Seniors don’t do underinsurance cover.
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)
  • 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)
Optional add-on
an extra 25% cover
Our verdict: Join and earn up to 40,000 Qantas Points for every home insurance policy you take out by 31 July. T&C’s and exclusions apply.
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)
  • 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)
Yes
an extra 30% cover
Our verdict: Good comprehensive cover (issued by QBE). Also, get 22% off on your first year's premium when you purchase a new combined Home & Contents insurance policy online + $10 monthly credit. T&Cs apply.
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Find some of the best home insurance deals in June 2023

Hopefully by now you've figured out the best policy for you. Now see what offers are available to sweeten the deal.

Deal

Buy online and save up to 30% on a home & contents policy with Australian Seniors

Verified 5 days ago
Offer applies to new policies bought online. Discount is made up of a 10% online discount for the first year, 10% for buying a combined policy and a further 10% if you hold a Seniors Card or 5% for non-card holders over the age of 50. T&Cs apply.
Deal

Receive $250 worth of smart sensors with Honey Home Insurance

Verified 5 days ago
Get free smart sensors (valued at $250) to install around your home when you sign up for a combined home and contents policy. T&Cs apply.
Deal

30% online discount on new home and contents insurance

Verified 5 days ago
Receive 30% off your first year's premium when you purchase a new combined home and contents insurance policy online. T&Cs apply.
Deal

22% off on your premium for the first year + $10 credit

Verified 5 days ago
Sign up online and get 22% off your policy for the first year plus $10 ongoing monthly credit. T&Cs apply.
Deal

Earn up to 40,000 Qantas Points with Qantas Home Insurance

Verified 5 days ago Expires 31 Jul 2023
Join and earn up to 40,000 Qantas Points for every home insurance policy you take out by 31 July. T&C’s and exclusions apply.
Deal

Get up to 20% off your first year's premium with QBE Building and Contents Insurance

Verified 5 days ago
Discount is made up of a 10% online discount, and a further 10% for buying a combined policy. T&Cs apply.
Deal

Get 10% off when buying Home and Contents Insurance

Save 10% when you buy a combined home and contents insurance policy online. Plus, Everyday Insurance customers can receive 10% off their groceries once a month. T&Cs apply.
Deal

Get 10% off when buying Home and Contents Insurance from Australia Post

Verified 5 days ago
Save 10% when you buy a combined home and contents insurance policy online from Australia Post. T&Cs apply.

What are the best home insurance companies?

It's really hard to say which is the best home insurance company without knowing a bit about you. So here's a bunch of home insurance companies that we've researched and reviewed. Hopefully this can help you.

If the brand you're looking for isn't here, check out our directory.

Compare some of the best home insurance policies in a few clicks

Why you can trust Finder's home insurance experts

free

We're free

You pay the same as buying directly from the home insurer. Better still, we regularly run exclusive deals that you won't find on any other site – plus, our tables make it easy to compare policies.
expert advice

We're experts

We've researched and rated dozens of policies as part of our Finder Awards. We provide unique insights and our in-house experts regularly appear on Sunrise, 7News and SBS News.
independent

We're independent

Unlike other comparison sites, we're not owned by an insurer. That means our opinions are our own and we work with lots of home insurance brands, making it easier for you to find a good deal.
help

We're here to help

Since 2014, we've helped 150,000+ people find home insurance by explaining your cover options simply and clearly. We'll never ask for your number or email. We're here to help you make a decision.

Frequently asked questions

  1. 68 home insurance policies, Finder Awards research 2022-23
  2. ANZ home insurance PDS (accessed March 2023)
  3. ASIC underinsurance report
  4. Australian Financial Complaints Authority
  5. Budget Direct home insurance PDS (accessed March 2023)
  6. Honey home insurance PDS (accessed March 2023)
  7. Insurance Council of Australia
  8. Qantas home insurance PDS (accessed March 2023)
  9. Trustpilot
  10. Youi home insurance PDS (accessed March 2023)

More guides on Finder

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