We've reviewed home and contents policies offered by ANZ, Suncorp, Westpac, Budget Direct, NRMA, Youi, Coles, Woolworths and more. We recommend policies that offer comprehensive cover. They were chosen also because they include standout features – such as cover for accidental damage, contents in the open air or under-insurance safety nets – and because they offer good value for money based on our comparison.
How we scored
We sent surveys to insurers asking about the features and premiums of their products, and we used their responses to calculate each policy's score. The score is made up of the product features (70%), the price rating (10%) and a complaints component (20%).
The features score is made up of the building cover (40%), contents cover (40%) and exclusions (10%) and other policy features (10%). The complaints component was derived from statistics published by the Financial Ombudsman Service, which shows the likelihood of a customer making a complaint, as well as the outcomes.
Premiums differ from home to home, so we can't estimate how much a policy will cost you. But we obtained quotes for four different customer scenarios in two locations per state and territory (one in the capital, one in a high-risk area) as well as North Queensland. By comparing the results of these tests we can see how each policy stacks up against the competition in each region.