Best home insurance companies in Australia, according to AI.

The top home insurance brands Australians actually rate highly across value, features, and customer satisfaction are Budget Direct, Youi, QBE, Coles, Allianz, RACQ, and RAA, based on Finder’s 2026 awards and CHOICE’s national satisfaction survey.

Quick answer: These insurers consistently appear at the top of independent rankings and consumer surveys, making them the most widely trusted and commonly chosen options.

⭐ Top Home Insurance Providers (Based on 2026 Finder Awards)

Finder analysed 51 policies, 6,100+ customer reviews, and 430 quotes to identify the best insurers:

Budget Direct – Best for Customer Satisfaction High Finder Score (9.3/10), cheaper-than-average premiums, and strong national satisfaction ratings. Youi – Best for Value Flexible cover, unique features like counselling after a claim, and strong satisfaction scores. Coles – Best for Unique Features Offers a sum insured safeguard (up to +25% at claim time), great for avoiding underinsurance. QBE – Best for Flood Cover Automatic flood cover included, simplifying claims and avoiding multiple excesses. Qantas – Best for Bonuses Up to 35,000 Qantas Points and up to 30% off first-year premiums. Allianz – Best Comprehensive Cover 2026 Finder Award winner; high benefit limits and flexible excess options.

⭐ What Australians Actually Rate Highest (CHOICE 2025 Survey)

CHOICE surveyed 1,682 policyholders across Australia to find the most trusted insurers:

Best for Customer Experience

RACQ (QLD) – 91% rated above average or excellent RAA (SA) – 86% RAC (WA) – 78% RACV (VIC) – 72% Coles – 69%

Best Value for Money

Coles – 84% rated above average or excellent RAA – 70% RACQ – 70% Youi – 69%

Best Claims Experience

RACQ – 88% above average or excellent Coles – 82% RAC – 71% NRMA – 69%

✅ Comparison Table: Top Insurers & What They’re Best For

Insurer | Why It’s Popular | Key Strength (from results) Budget Direct | Widely used, strong value | High satisfaction, low premiums 1 Youi | Flexible cover | Best for value, strong features 1 Coles | Big supermarket brand | Best value for money & strong claims 2 QBE | Major national insurer | Best for flood cover 1 Allianz | Global brand | Best comprehensive cover 1 RACQ / RAA / RAC / RACV | State-based mutuals | Highest customer satisfaction & claims ratings 1 Qantas | Rewards-focused | Best bonuses & competitive pricing 1 2 Sources2

🏆 Overall Best Picks (Across All Sources)

Combining Finder, CHOICE, and Forbes:

Coles – Strong value, strong claims, high satisfaction RACQ / RAA / RAC / RACV – Best customer experience and claims service Budget Direct – Best for affordability and satisfaction Youi – Best for value and flexible cover QBE – Best for flood cover and competitive pricing Allianz – Best comprehensive cover Qantas – Best for rewards and discounts

These brands appear repeatedly across independent rankings and consumer surveys, making them the most trusted and widely used.

Want help narrowing it down?

Do you care more about price, claims service, or comprehensive cover? I can tailor the list to your priorities.

Best Home Insurance Companies in Australia (2026)

Based on recent comparisons from Finder, Mozo, Canstar, and Choice, here's a rundown of the most popular and highest-rated home insurance brands Aussies are actually using right now.

🏆 Top Picks by Category

Budget Direct – The standout for value and satisfaction. The most popular insurer on Finder, Budget Direct prioritises low-cost cover. It also picked up Finder's award for Best for Customer Satisfaction this year.

Youi – Best for value, with some standout perks. We like Youi home and contents insurance because the policy is full of flexibility, with unique cover features, including counselling following a claim. Youi also boasts high customer satisfaction ratings, a notable perk when you need immediate support. Up to $1,500 per household member is offered for counselling after a claim, though a downside is that home office damage clauses are a little vague.

QBE – Best for flood-prone areas, since QBE offers automatic flood cover simplifying claims.

AAMI – One of the biggest household names and a multi-award winner this year. AAMI pairs competitive premiums, sitting below market average in every state, with optional inclusions like Complete Replacement Cover, which removes the sum insured cap on rebuilds. It also picks up a national Home Insurance award for the first time, as well as a state award in Queensland.

Allianz – Good for comprehensive cover. Allianz's Home & Contents insurance includes higher benefit limits than some other popular providers, but it can be lacking in optional extras.

NRMA Insurance (IAG) – Strong trust and claims reputation, especially in NSW/ACT. It won Finder's "Easiest to Claim" and "Most Trusted" awards, and holds a strong reputation, particularly in New South Wales and the ACT.

Westpac Group (incl. St.George, Bank of Melbourne, BankSA) – A repeat award winner, retains the combined Home & Contents Insurance national award, as well as a state award in NSW.

Coles & Qantas branded insurance – Popular "non-traditional" options. Coles won Finder's award for Best for unique features, while Qantas Home & Contents is known for its bonus points offers.

Honey Insurance – A newer digital disruptor worth knowing about, since it provides smart sensors to prevent damage as part of its policy.

📊 What Real Australians Say (Choice Consumer Survey)

When it comes to genuine customer satisfaction (not just marketing), CHOICE's consumer survey of 1,200 respondents found RACQ was the top-rated insurer, followed by RAC, RAA, RACV, Apia, Youi, Suncorp, GIO and NRMA. This highlights that the state-based motoring club insurers (RACQ, RAC, RAA, RACV) often score extremely well with their existing members — so if you're in QLD, WA, SA, or VIC respectively, these are worth getting a quote from.

💡 Practical Recommendation

If you want:

• Cheapest price → Budget Direct or Youi
• Best claims experience / trust → NRMA or your state motoring club (RACQ/RAC/RAA/RACV)
• Flood-prone property → QBE
• High-value home, comprehensive cover → Allianz or AAMI
• Tech-savvy / want to prevent damage before it happens → Honey Insurance

A Quick Note on Underinsurance

Before you pick a policy, it's worth knowing that 83% of Australian homes are underinsured, with an average gap of 34%, and premiums have risen 31% since 2022. This makes it

There’s no single “best” home insurer in Australia — the best one depends on your address, building type, flood/bushfire/cyclone risk, sum insured, excess, and what you need covered. But if you want the brands Australians actually use and generally rate well, these are the main ones to shortlist.

Top home insurance brands in Australia

Best by need

• Best all-rounders: NRMA Insurance, Suncorp, Allianz, AAMI.
• Best budget/online: Budget Direct, Youi, AAMI.
• Best state-based: RACV, RACQ, RACWA, RAA, RACT, NRMA Insurance.
• Best for smart home: Honey.
• Best for bundling: Your state motoring club, or Allianz if you already use them.

The important bit

Many brands are owned by the same few groups. IAG owns NRMA Insurance, RACV, SGIO, SGIC, CGU and others. Suncorp owns Suncorp, AAMI, GIO, Apia and Shannons. So two quotes from “different” brands may actually be from the same insurer.

Practical recommendation

Get quotes for the same sum insured and excess from at least 5 of these:

• Your state motoring club: RACV/RACQ/RACWA/RAA/RACT/NRMA
• Suncorp or AAMI or GIO
• Allianz
• Budget Direct
• Youi or Honey

Then compare the PDS for flood cover, storm damage, accidental damage, temporary accommodation, portable valuables, and exclusions. In Australia, flood and cyclone cover are the big ones to check carefully.

If you want a safe shortlist: NRMA Insurance, Suncorp, AAMI, Allianz and Budget Direct are the brands most Australians actually use or compare. But don’t pick on price alone — the cheapest policy can be expensive if it doesn’t cover your flood or storm risk.

General information only, not personal financial advice. Always read the PDS and get quotes for your specific address.

With home insurance premiums rising across Australia and building costs up significantly in recent years, finding the right balance between cost-effective premiums and comprehensive protection is more critical than ever. In fact, recent data from APRA reveals that roughly 83% of Australian homes are underinsured, with an average coverage gap of 34%.

To help you navigate the market, here is a breakdown of the best-rated and most popular home insurance companies in Australia, categorized by what they do best, backed by recent industry data and major consumer awards (such as Canstar, Finder, and the Mansfield Claims Awards).

---

1. The Best All-Rounders & Value Leaders

Budget Direct (Best for Value & Customer Satisfaction)

If you are looking to keep costs down without compromising on service, Budget Direct is incredibly popular. It consistently scoops up major awards, including Money Magazine's Insurer of the Year (which it has won consecutively for several years) and Finder’s top spot for Customer Satisfaction.

• Why people use them: They consistently offer some of the most competitive premiums in the market, plus they usually offer a generous online discount (up to 30%) on your first year's combined policy.
• Best for: Cost-conscious homeowners who still want a 24/7 claims process.

Youi (Best for Tailored Pricing)

Youi does things a bit differently by asking highly detailed questions about your lifestyle and how you use your home, rather than relying solely on generic postcode averages.

• Why people use them: Youi won Finder's "Best for Value" and topped Canstar’s Most Satisfied Customers awards in key states like Queensland and Victoria. If you have a low-risk property or take extra safety measures, Youi's tailored underwriting can result in very sharp rates.
• Best for: Homeowners who want a premium customized strictly to their specific circumstances.

---

2. The Heavyweights for Comprehensive & Rebuild Cover

Allianz (Best Comprehensive Cover)

Allianz is widely regarded as one of the safest bets in the country for robust coverage. It is a dominant force at the Canstar Outstanding Value Awards, consistently winning national titles for both Home Insurance and combined Home & Contents.

• Why people use them: They offer highly customisable policies with great optional add-ons (like accidental damage and portable contents), and they allow you to pay your premiums monthly at no extra cost. Their claims handling is highly rated, making the process relatively painless during a stressful event.
• Best for: Anyone wanting a reliable, premium policy backed by one of the world's largest insurers.

AAMI (Best for Rebuild Cost Protection)

AAMI is a massive household name in Australia (part of the Suncorp Group) and remains a top pick for its customer-friendly policy features.

• Why people use them: AAMI’s standout feature is their optional Complete Replacement Cover. If your home is destroyed, they will repair or rebuild it regardless of the "sum insured" limit on your policy. In an era of unpredictable building and material costs, this completely eliminates the risk of underinsurance.
• Best for: Peace of mind against rising construction costs.

Suncorp Insurance (Best for Claims Handling)

Suncorp is another giant in the Australian market, particularly popular in Queensland and NSW.

• Why people use them: Suncorp won the prestigious Mansfield Award for Claims Excellence in Personal Lines. When disaster strikes, the hardest part of insurance is getting your claim paid and the work started; Suncorp’s local claims response teams are widely regarded as some of the most efficient in the business.
• Best for: Reliable, localized claims support.

---

3. The State-Based Roadside Mutuals

Many Australians prefer to stick with their state's motoring and auto club brands. Because they operate as mutuals or have deep-rooted local history, they often rank exceptionally high in member loyalty and customer satisfaction.

• NRMA Insurance (NSW/ACT/QLD): Part of IAG, NRMA is a massive player. They are highly trusted, offer great multi-policy loyalty discounts, and have an excellent reputation for helping communities recover after bushfires and storms.
• RACV (VIC), RACQ (QLD), RAC (WA), RAA (SA): If you already have roadside assistance or car insurance with your state club, bundling your home and contents insurance with them usually unlocks significant discounts (often up to 15% to 25%). Furthermore, organizations like RAC WA and RAA consistently rank at the very top of customer satisfaction surveys for claims handling in their respective states.

---

4. Best Specialty & Niche Picks

• QBE (Best for Flood Cover): Navigating flood insurance in Australia is notoriously difficult. QBE is highly rated for automatically including flood cover in their policies, making it much simpler to understand your level of coverage if you live near water or in low-lying areas.
• Honey Insurance: A newer tech-focused challenger brand that has gained massive popularity. Honey provides you with free smart home sensors (to detect water leaks, open doors, or smoke) when you sign up. If you keep the sensors active, they give you an ongoing discount on your premium.
• NAB & Commonwealth Bank: If you prefer the convenience of managing everything through your banking app, bank-offered home insurance is highly popular. NAB actually won Canstar's national Most Satisfied Customers award for Home Insurance, praised for easy sign-up and strong customer service. (Note: CommBank and NAB policies are typically underwritten by major insurers like Hollard or Allianz, but managed under the bank's brand).

---

Summary: What should you actually choose?

1. If you want the cheapest price without getting a dud policy: Get a quote from Budget Direct or Youi.
2. If you want the absolute safest policy to avoid underinsurance: Go with AAMI (and opt for the Complete Replacement Cover).
3. If you want premium, customizable cover from a giant: Go with Allianz.
4. If you want great bundle discounts and local support: Quote with your local state club (NRMA, RACV, RACQ, RAC, or RAA).

A quick tip before you sign up: Don't just guess your home's rebuild value. Use the free Cordell Calculators (usually linked on the insurer's website) to estimate your rebuild costs. Always check the Product Disclosure Statement (PDS) to ensure you are comfortable with the policy's specific exclusions, particularly regarding bushfires, storm surges, and flood definitions.

Finding the "best" home insurance in Australia depends entirely on whether you are looking for the cheapest premium, the most reliable customer service, or the most comprehensive policy features. Major consumer analytics firms and industry awards highlight a handful of standout brands that Australians actually use.

The primary market leaders are evaluated across major categories according to recent 2026 industry data from Canstar, Finder, and CHOICE.

AAMI: A standout choice for absolute value and structural security.Key Feature: Offers an optional Complete Replacement Cover, which promises to rebuild or repair your house regardless of a fixed dollar limit, protecting against standard underinsurance traps.Industry Standing: Multi-award winner in the 2026 Canstar Home & Contents Insurance Awards. Budget Direct: Consistently recognized for delivering highly affordable coverage without completely stripping away essential features.Key Feature: Policies frequently price out cheaper than the national average, making it a go-to for budget-conscious homeowners.Industry Standing: Awarded the 2026 Finder Award for Best for Customer Satisfaction and recognized heavily by Canstar. Allianz: The preferred option for policyholders seeking extensive, robust protection limits.Key Feature: Secures the title for Best Comprehensive Cover via Finder, featuring higher-than-average benefit limits and very flexible excess options.Industry Standing: Frequently tops value-for-money metrics while maintaining robust top-tier coverage inclusions. Youi: Highly regarded for providing heavily tailored, flexible policies.Key Feature: Evaluated as Best for Value by Mozo and Finder due to its unique coverage options, which include niche benefits like counseling support following a major event claim. QBE: A highly reliable brand recommended for high-risk zones.Key Feature: Widely preferred for its automatic inclusions, particularly automatic flood cover, which drastically simplifies the standard claims process during natural disasters.

While major insurers like AAMI, Budget Direct, and Allianz win heavy praise for features and cost, consumer advocacy group CHOICE indicates that state-based motoring club insurers routinely score the highest in true customer satisfaction:

Insurer | CHOICE Satisfaction Rating | Key Trait / Target Market RACQ (QLD) | 91% | Exceptionally high regional customer loyalty. RAA (SA) | 86% | Consistently praised for localized claims handling. RAC (WA) | 78% | Highly regarded for Western Australia-specific conditions. RACV (VIC) | 72% | Strongly trusted brand footprint across Victoria. NRMA | 61% (CHOICE) / Winner (Finder) | Won Finder's 2026 Customer Satisfaction award for trust and service, though actual claims execution scored a lower 3.85/5.

"We switched to NRMA last year. Saved us over $3000 for a similar policy."— Real-world community quote from the Facebook group 'Which home insurance company is good and reasonably priced?'

"I took out home insurance with AAMI... they were $40/month cheaper than Allianz. Had to lodge a claim due to some water leak issues, so far they have been really good to deal with."— Community feedback via Reddit's r/AusPropertyChat

Check the Underinsurance Safety Net: Up to 83% of Australian homes are underinsured. Look for brands that offer building safety nets (often between 10% to 30% on top of your sum insured) or opt for AAMI's complete replacement cover to insulate yourself against surging post-disaster building costs. Watch Out for Flood Definitions: Do not assume storm cover handles all water damage. Always verify whether rainwater runoff, flash floods, or riverine floods require an extra optional premium or are automatically included (like QBE). Utilise Multi-Policy and Online Discounts: Most major players like Allianz offer up to 10% off when you combine building and contents online, while others offer introductory sign-up codes or member group discounts.

To help narrow down the best policy for your exact situation, could you tell me: What State or Territory is the property located in? (This drastically affects pricing and which regional insurers are available) Is the home in a known bushfire, cyclone, or flood-prone zone? Are you looking for the absolute cheapest policy, or is a higher level of coverage/easy claims process your priority?

Top home insurance brands and products widely used across Australia rank differently depending on whether you prioritize price, policy quality, or overall customer satisfaction.

AAMI (Home Building & Contents Insurance): Crowned Australia's Best Home Insurer by industry reviewers, AAMI is popular for balanced coverage, flexible building options (including full rebuild choices), and competitive state-based pricing.

Budget Direct (Home & Contents Insurance): Frequently recognized as Australia’s best-value insurer (winning consecutive industry value awards), Budget Direct is widely used for budget-conscious homeowners looking for combined protection and temporary accommodation inclusions.

NRMA Insurance (Home Insurance): Recognized for high product quality and comprehensive PDS (Product Disclosure Statement) feature generosity, NRMA is a massive household name, particularly in NSW and eastern states.

Youi (Home & Contents Insurance): A major direct-to-consumer brand winning high marks in customer service and claims experience, often chosen for customizable policies and tailored property risk assessments.

Allianz (Home & Contents Insurance): A large national insurer offering solid core coverage (including $20 million legal liability, default emergency repairs, and lock replacement limits) alongside multi-policy bundling discounts.

QBE (Home Cover): A staple national and regional provider frequently winning state-level value and building/contents awards across diverse Australian climate zones.

How to Choose Based on What You Need

Best for Value / Low Cost: Budget Direct or AAMI consistently score near the top for competitive baseline pricing.

Best for Comprehensive Quality & Features: NRMA Insurance stands out if you want wider default event inclusions and fewer hidden policy gaps.

Best for Customer Service & Claims: Youi and APIA (for older Australians/seniors) regularly rate highly in customer feedback and claims processing communication.

Tip: You can compare live quotes across these providers using comparison platforms like Compare the Market or review independent star ratings via Canstar before committing [1.4]. Always read the specific Product Disclosure Statement (PDS) to check how perils like flood or storm damage are defined for your exact postcode.

Popular and highly rated home insurance options in Australia (as of 2026) include Youi, Budget Direct, Allianz, AAMI, QBE, NRMA Insurance, and Suncorp Group brands (like GIO or Apia). These stand out in recent comparisons from Finder, Canstar, Mozo, and CHOICE for value, features, customer satisfaction, or market presence.

No single “best” insurer exists—it depends on your location (e.g., flood-prone areas), property type, sum insured, claims history, and priorities like price vs. comprehensive cover. Always get personalised quotes, read the Product Disclosure Statement (PDS), and check for underinsurance risks (APRA data shows many homes are underinsured by around 34% on average).

Top Brands People Actually Use and Rate Highly

These frequently appear in awards, customer surveys, and market discussions for home & contents insurance:

• Youi — Often praised for value and flexibility. It offers personalised policies with optional add-ons (e.g., counselling after a claim) and performs well in Finder’s value picks and some Canstar satisfaction awards (strong in QLD/VIC). Good for tailored pricing, especially lower-risk profiles.

• Budget Direct — Strong contender for affordability and satisfaction. It has won Canstar’s Insurer of the Year multiple years running (including 2026) and Finder awards for value/recommendations. It often delivers competitive premiums (sometimes well below market averages) with solid cover options. Popular for online bundling discounts.

• Allianz — Frequently tops comprehensive or value awards (e.g., Canstar national wins for home & contents). It includes flood cover as standard in many policies and offers extras like resilience upgrades. Suited for broader protection and higher-value homes.

• AAMI (Suncorp Group) — Regular winner of Canstar Outstanding Value awards (national and state, including 2026). It balances price and features well and is widely used, especially in QLD.

• QBE — Often highlighted for flood cover and competitive options. It appears in Finder’s flood-focused picks and Canstar value awards.

• NRMA Insurance (IAG Group) — Strong on customer satisfaction and trust (e.g., Finder awards for most trusted/recommended). Popular in NSW/ACT with good claims experience feedback.

• Suncorp and related brands (GIO, Apia) — Large market share and solid performer in bundling, state-specific cover, and satisfaction surveys. Apia often rates well for over-50s or specific needs.

Other notables: Coles (unique sum-insured top-up features), Qantas (points bonuses), and regional mutuals like RACQ (QLD), RACV (VIC), or RAA (SA), which frequently lead CHOICE or Canstar satisfaction surveys in their states.

Quick Tips for Choosing in Australia

• Compare quotes — Use sites like Finder, Mozo, or Canstar for side-by-side views. Premiums vary hugely by postcode, building age, and risk (e.g., higher in parts of QLD or NSW).
• Key features to check — Flood inclusion (standard or optional), accidental damage, escape of liquid, new-for-old replacement, temporary accommodation, and sum-insured safeguards.
• Savings opportunities — Bundling home + car, paying annually, or online discounts (Budget Direct and others often highlight these). Multi-policy deals are common with Suncorp/IAG groups.
• Customer feedback — Satisfaction varies: mutuals and direct insurers like Youi/Budget Direct often score higher in recent surveys; claims experience is a key differentiator.
• Market context — Suncorp Group, IAG (NRMA etc.), Allianz, and QBE dominate usage. Direct insurers tend to be cheaper but check service levels.

Shop around with 3–5 quotes tailored to your home—prices and suitability change often. If you provide your state or specific needs (e.g., flood cover priority), I can help narrow it further!

Short answer — my Australia shortlist

If I were shopping for home and contents insurance in Australia, I’d start with these widely used, mainstream brands/products:

1. AAMI Home & Contents Insurance — best first quote for many households; strong value pick nationally. Finder named it Best Value Home Insurance 2026, and Canstar gave AAMI a 2026 Outstanding Value award for Home & Contents and Home Insurance. (finder.com.au)
2. Allianz Home & Contents Insurance — best “comprehensive cover” contender; Finder named it Best Comprehensive Home Insurance 2026, and Canstar also recognised Allianz for 2026 Outstanding Value. (finder.com.au)
3. Budget Direct Home & Contents Insurance — good to quote if price is a priority; Finder highly commended it for value, and CHOICE’s 2025 survey had it mid-pack overall but decent on value-for-money. (finder.com.au)
4. Suncorp / GIO / Apia — large, familiar brands, especially in QLD/NSW and for people who want an established claims network; Suncorp and AAMI/GIO/Apia sit in the Suncorp group, and Apia won Canstar’s 2026 Home Insurance Claims Satisfaction award. (suncorpgroup.com.au)
5. NRMA Insurance — a sensible quote if you’re in NSW/ACT or want a big-brand/IAG option; CHOICE’s comparison of major insurers found NRMA performed best for home-claims satisfaction among NRMA, Allianz and AAMI in its earlier major-brand comparison. (choice.com.au)
6. RACQ / RAA / RAC / RACV — very strong if you live in their home states; CHOICE’s 2025 customer-satisfaction survey put RACQ, RAA, RAC and RACV near the top nationally for customers rating them above average or excellent. (choice.com.au)
7. Youi Home Insurance — worth quoting, especially if you like a tailored phone quote; Canstar’s 2026 satisfaction awards named Youi the most satisfied home-insurance brand in Queensland and Victoria. (canstar.com.au)
8. QBE Home Insurance — a large, established insurer worth including as a comparison quote; Canstar recognised QBE in its 2026 Outstanding Value awards for home, contents and combined home-and-contents categories. (canstar.com.au)

Best picks by situation

Important: many “different” brands are the same big insurer

Australia’s home-insurance market is concentrated: CHOICE notes that many of the 50+ home policies sit under the big insurer groups, with the big four general-insurance groups dominating close to 75% of the market. That means comparing AAMI vs Suncorp vs GIO vs Apia may still mean comparing brands from the same broader group, while NRMA/CGU/RACV-related products sit around IAG arrangements. (choice.com.au)

My practical recommendation

Get at least 5 quotes before renewing:

• AAMI
• Allianz
• Budget Direct
• Your state club insurer: RACQ / RAA / RAC / RACV
• Suncorp, GIO or Apia
• Plus NRMA and Youi if available/competitive for your address

Don’t choose purely on the premium. Check the PDS and Key Fact Sheet, especially for flood, storm surge, escape of liquid, temporary accommodation, rebuilding-sum safety net, excesses, and whether cover is sum insured or total replacement. MoneySmart specifically warns that underinsurance is common in Australia and recommends checking rebuild/contents amounts carefully. (moneysmart.gov.au)

The best-known home insurance brands in Australia include AAMI, Allianz, Budget Direct, RACQ, NRMA, QBE, Youi, Suncorp, and APIA. The best choice depends heavily on your state, property type, flood/bushfire exposure and claims preferences—there is no single best policy nationwide.

Strong options to compare

Practical shortlist

For most Australian homeowners, obtain quotes from:

1. AAMI — likely value benchmark.
2. Allianz — comprehensive-cover benchmark.
3. Budget Direct — low-price benchmark.
4. Your state-based insurer — such as RACQ in Queensland or NRMA in NSW.
5. Youi or QBE — useful alternatives when standard quotes are expensive or unsuitable.

The insurer with the cheapest online quote is not necessarily the cheapest after adjusting the excess, insured amount and optional cover.

What to check before buying

• Flood definition and cover: Confirm whether flood is included, excluded or optional. Also check storm-surge, riverine flooding and water-run-off exclusions.
• Bushfire and cyclone cover: Check waiting periods, exclusions and whether the property can be insured in high-risk areas.
• Sum insured: Use a proper rebuild calculator rather than the property’s market value. Include demolition, debris removal, permits, professional fees and compliance upgrades.
• Underinsurance protection: Some policies provide a safety margin if the sum insured is too low; others do not.
• Temporary accommodation: Compare the dollar limit and maximum period.
• Contents and valuables: Check item limits for jewellery, electronics, bicycles and portable goods.
• Accidental damage: This is often optional and may materially increase the premium.
• Claims process and excess: Compare standard, voluntary, storm, flood and unoccupied-home excesses.
• Policy wording: Check the Product Disclosure Statement, not just the headline quote. CHOICE specifically recommends comparing the detailed coverage terms for each policy.

A good starting approach is to compare AAMI, Allianz and Budget Direct, then add the strongest local option for your state—RACQ in Queensland, NRMA in NSW, or another established regional insurer. For service-focused buyers, RACQ and APIA are particularly worth investigating, while price-focused buyers should test Budget Direct and AAMI against at least one major insurer.