Home insurance is essential if you own your own place. But with so many policies on the market, it’s difficult to know where to start looking.
In our home and contents review we use a national price rating to assess value for money. But in this article, we analyse prices state-by-state to find the cheapest home insurance in each location.
We then use this information combined with our expert analysis of what each policy covers to reveal the best value insurance policies across the country.
We crunched the numbers to see how much Australians are paying for home and contents insurance across the country.
Text-only accessible version
The infographic shows a map of Australia with the average home and contents premium superimposed over each state and territory. Queensland is divided into north and south along the Tropic of Capricorn. Average annual premiums for combined home and contents policies in each region. Based on thousands of market representative quotes collected in January 2026.
In ACT the average premium was $2903. In NSW the average premium was $4852. In NT the average premium was $4914. In north Queensland the average premium was $5074. In south Queensland the average premium was $4711. In SA the average premium was $2318. In Tasmania the average premium was $2964. In Victoria the average premium was $3033. In WA the average premium was $2590.
Cheapest insurers by state
We recommend regularly reviewing your insurance policy to make sure you’re only covered for what you need, and that you’re getting the best price for your cover.
We found the cheapest insurance products in each state so you can check whether they’re right for you.
These policies don’t necessarily provide the best cover, however, so make sure you read the product disclosure statement (PDS) and learn more about the cover details of these policies in our home and contents comparison before making the switch. We used the same method to calculate Price scores we use in our comparison, but limited the quotes by state. We looked at over 56 products, with the number of quotes pre product ranging from up to 37 in ACT to over 1500 in Queensland.
We reveal the best value policies further down, exclusively for CHOICE members. If you’d like to make sure you’re getting the best value for your dollar, sign up or log in below.
Australian Capital Territory
Allianz Home and Contents – Price score for ACT: 97%
Westpac Home* – Price score for ACT: 93%
Aldi Household – Price score for ACT: 83%
The average quote for the policies above range from $2020 to $2374. While these are the cheapest policies on the whole, insurance premiums vary according to many factors including sum insured, excess and risk profiles, so they may not necessarily be the cheapest for you.
* Identical policies are sold for the same price by Bank of Melbourne, BankSA and St.George.
New South Wales
Westpac Home* – Price score for NSW: 88%
Allianz Home and Contents – Price score for NSW: 87%
The average quote for the policies above range from $3427 to $4021. While these are the cheapest policies on the whole, insurance premiums vary according to many factors including sum insured, excess and risk profiles, so they may not necessarily be the cheapest for you.
* Identical policies are sold for the same price by Bank of Melbourne, BankSA and St.George.
Northern Territory
QBE Home – Price score for NT: 93%
Westpac Home* – Price score for NT: 82%
The average quote for the policies above range from $3339 to $4142. While these are the cheapest policies on the whole, insurance premiums vary according to many factors including sum insured, excess and risk profiles, so they may not necessarily be the cheapest for you.
* Identical policies are sold for the same price by Bank of Melbourne, BankSA and St.George.
Northern Queensland
QBE Home – Price score for northern Queensland: 90%
Westpac Home* – Price score for northern Queensland: 80%
This covers areas north of the Tropic of Capricorn. The average quote for the policies above range from $3192 to $4040. While these are the cheapest policies on the whole, insurance premiums vary according to many factors including sum insured, excess and risk profiles, so they may not necessarily be the cheapest for you.
* Identical policies are sold for the same price by Bank of Melbourne, BankSA and St.George.
Southern Queensland
AAMI Home and Contents – Price score for southern Queensland: 85%
Apia Home and Contents – Price score for southern Queensland: 82%
This covers areas below the Tropic of Capricorn. The average quote for the policies above range from $3692 to $4124. While these are the cheapest policies on the whole, insurance premiums vary according to many factors including sum insured, excess and risk profiles, so they may not necessarily be the cheapest for you.
South Australia
QBE Home – Price score for SA: 92%
There is only policy in this state with a Price score of 80% or more. The average price of the policy here was $1353. While these are the cheapest policies on the whole, insurance premiums vary according to many factors including sum insured, excess and risk profiles, so they may not necessarily be the cheapest for you.
Tasmania
RACT Home, Contents and Portable Items – Price score for Tasmania: 85%
Westpac Home* – Price score for Tasmania: 85%
QBE Home – Price score for Tasmania: 83%
The average quote for the policies above range from $1936 to $2140. While these are the cheapest policies on the whole, insurance premiums vary according to many factors including sum insured, excess and risk profiles, so they may not necessarily be the cheapest for you.
* Identical policies are sold for the same price by Bank of Melbourne, BankSA and St.George.
Victoria
Westpac Home* – Price score for Victoria: 86%
QBE Home – Price score for Victoria: 85%
Aldi Household – Price score for Victoria: 83%
Allianz Home and Contents – Price score for Victoria: 83%
The average quote for the policies above range from $2226 to $2597. While these are the cheapest policies on the whole, insurance premiums vary according to many factors including sum insured, excess and risk profiles, so they may not necessarily be the cheapest for you.
* Identical policies are sold for the same price by Bank of Melbourne, BankSA and St.George.
Western Australia
Suncorp Classic – Price score for WA: 92%
GIO Classic – Price score for WA: 89%
AAMI Home and Contents – Price score for WA: 84%
Apia Home and Contents – Price score for WA: 83%
The average quote for the policies above range from $1631 to $1921. Note that these are the cheapest policies on the whole, but since insurance premiums vary according to many factors including sum insured, excess and risk profiles, it doesn’t necessarily mean they’ll be the cheapest for you.
How to choose the right home insurance policy
If you want real value for money in insurance, however, you also need to look at what’s covered by each policy. To do this yourself, you’ll need to go through the policy documents for each product and compare the points of coverage that are important to you. Or you could use our Cover score, which is calculated by our insurance experts and is available to CHOICE members.
We look at how insurers cover over 500 different things, and allocate points for everything, from whether the policy includes an under-insurance safety net and flood cover, to how much they’ll pay for food spoilage during a blackout, or furniture damaged when moving house.
We then convert this to a percentage so you can easily compare the level of cover between one policy and another.
Best value home and contents insurance by state
We have used our Cover score with state-based prices to reveal the policies that offer the best bang for your buck in your state. Log in to unlock this members-only content, or join CHOICE to get instant access to all of our expert, independent reviews.
Becoming a CHOICE member also gives you access to a massive library of product and service reviews and comparisons based on our rigorous independent lab testing and expert knowledge so you can choose products and services with confidence.
Jane Bardell is a Content producer in the Insurance and utilities team. She writes about home, car, pet and health insurance. Previously at CHOICE, she checked facts, figures and statistics as a Verifier with the Editorial and investigations team.
Jane has a Bachelor of Science from the University of New South Wales.
Find Jane on LinkedIn.
Jane Bardell is a Content producer in the Insurance and utilities team. She writes about home, car, pet and health insurance. Previously at CHOICE, she checked facts, figures and statistics as a Verifier with the Editorial and investigations team.
Jane has a Bachelor of Science from the University of New South Wales.
Find Jane on LinkedIn.
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