01.Compare home insurance
Home insurance recently got a lot more expensive, and the insurance industry has been unclear about why exactly.
Make an informed decision using this CHOICE home and contents insurance comparison and review.
What you’ll get in this report:
The right cover
We help you avoid the growing costs of home insurance by making sure you’ve got the right cover at the right price. We’ve designed two easy-to-understand categories – standard and top level cover – and recommendations under those categories, along with advice you can use to better understand your insurance needs.
We also provide a full features table so you can compare home and contents insurance products side-by-side for yourself too.
CHOICE's experts independently test a wide range of products and services to bring you unbiased reviews, product comparison tools and buying advice that is trusted by 160,000+ members.
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How we test
We obtain quotes and policy details from 29 insurers based on four scenarios, which take into consideration the occupants’ ages, family size, house types and sum insured. Policy features are scored for insured events and the degree of coverage for damage or loss to contents and building.
For example, we look at:
• Under-insurance protection for home insurance
• Limits for various items under contents insurance
• Cover for flood, fire, storm surge and tsunami
Policies that score in the bottom half for features are excluded from the best buy selection. The remaining policies are weighed 50:50 for policy features and premium price. The four highest scorers for both standard cover and top cover in each state and territory earn a best buy.
Where are the premium prices?
Home and contents insurance is risk rated, which means the premiums are calculated on a number of factors. These factors could include the neighbourhood you live in, your age and building construction (or all of the above).We look at thousands of premiums across the scenarios to establish trends, but printing the actual prices would only be confusing and to no real benefit. Prices also tend to change without warning.
Use the recommendations as a guide and then get your own personalised quote from an insurer before deciding on home and contents insurance.
64 policies from 29 brands
- Australian Unity
- Bank Of Melbourne
- Bank SA
- Budget Direct
- St George
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