Home insurance in Australia

Getting home insurance in Australia offers reassurance and protections if your home or contents are damaged, if you’re the victim of theft or vandalism, or if someone has an accident on your property. Different types of home and contents insurance are available for specific customer needs – so finding the best home insurance in Australia is going to take a little research. We’re here to help. We’ll look at how different types of home insurance compare, how to get a home insurance quote and what you may pay.

Here’s a summary of what we’ll cover in this guide, to help you find the best home insurance in Australia for your unique needs:

Introduction to home insurance in Australia

Insurance in Australia is overseen by several bodies including ASIC, which works alongside the Australian Financial Complaints Authority to support customers using insurance products including home insurance, health insurance and life insurance.

When it comes to home insurance in Australia, you can often find several different cover types, including:

• Building Cover – covers loss or damage to your buildings, often including temporary accommodation if you need to move while repairs are underway
• Contents Cover – covers household goods or personal belongings, often including those of guests using your property
• Building and Contents Cover – combination of both building and contents policies
• Landlord Insurance – covers loss or damage to your investment property including legal liability cover if your tenant is injured or suffers an accident there

Reports in January 2026 suggest that in 2022, almost one in 20 Australiansexperienced property damage through weather-related issues including bushfire, flooding and cyclones. That’s on top of properties where issues arose from less dramatic circumstances – like a leaking tap causing minor flooding – or a stray cricket ball smashing a window.

However, one in 30 homes are not insured at all – and many of the properties which do have some cover may not have sufficient insurance for all eventualities.

If you’re buying a property in Australia having adequate property insurance is a very smart plan. This guide walks through some things to think about so you can decide what cover matters to you.

This guide is for information only. Get professional advice if you are not sure which insurance will suit your needs.

Can you use home insurance from another country in Australia?

Home insurance is usually specific to a single country and property. This means you are not likely to be able to use home insurance from another country in Australia.

One occasional exception may arise if you have ‘portable valuable’ cover – or a similar clause in your overseas insurance policy. This may cover you if you have a foreign policy but you’re in Australia on a trip, and lose valuables for example. This cover isn’t always standard in policies, so you’ll need to review your own policy to see if you have any similar clause which may offer extended cover for Australia from your home country.

Managing cross-border finances for insurance

If you’re an expat in Australia, or looking for home insurance for a holiday home there while you live elsewhere, you may need to pay your insurance premiums in a foreign currency. In this case, selecting a low cost provider to manage your payments can keep down your costs.

Wise offers the mid-market exchange rate and minimal fees for transfers, plus you can open a Wise multi-currency account that simplifies managing payments in multiple currencies, including recurring insurance premiums and one off transfers as needed.

Home insurance companies in Australia

The Insurance Council of Australia offers a searchable directory of regulated insurance companies in Australia which can be a good place to look if you’re on the hunt for a policy.

Popular providers include:

• Banks like Commbank and Westpac
• Global insurance companies like Allianz or Australian brands like AAMI

Home contents insurance in Australia

Home contents insurance – which can also be called renters insurance – isn’t mandatory in Australia. It covers things like furniture and appliances, your personal belongings including jewelry, clothes, watches, and equipment in your home office for example. If you’re renting a property you’ll need this insurance – and it’s also commonly used by homeowners in conjunction with property insurance.

To give an idea of the things that may be covered, Commbank’s home contents insurance offers cover in the following scenarios:

• Accidental glass breakage
• Earthquake, tsunami and volcanic eruption
• Escape of liquid
• Fire
• Impact
• Lightning, storm, rainwater and flood
• Malicious damage, theft or attempted theft
• Riot, civil commotion or industrial unrest

There are limits on the amount you can claim for different categories, such as a cap on the value of home office items you can have reimbursed, and a limit on the value offered to replace lost or damaged documents.

If you need additional cover for your home contents you can also often add on extras. With Commbank as our example, you can add in extra accidental damage cover which extends beyond the circumstances outlined above, or portable valuables cover. This offers cover when you take your items out of the home – such as on a trip in Australia, or in New Zealand.

Costs of home contents insurance in Australia

The costs of home contents insurance in Australia depend on the value of your cover, individual items you want to insure and the provider you pick.

Moneysmart – an Australian government website – recommends you start by cataloguing your household items including videoing or photographing them in case you ever need to claim. This can give you an idea of the value of cover you need. You can then generate quotes for insurance using a service like the Canstar home insurance comparison which offers links to various different providers.

Compare the quotes you receive – checking things like exclusions and item value limits to make sure the policies suit your specific needs before you buy.

Property insurance in Australia

Building insurance – which may also be called property or homeowners insurance in Australia – is intended to cover the physical building of your home, and associated fixed structures like sheds or garages. This cover is not legally required, but your bank or lender may make it mandatory as a condition of your home loan if you’re buying a new property.

Property insurance may be invoked in a similar range of situations as contents insurance – including natural disasters, storms, flooding, theft and some malicious damage. As well as having support for repairing damage, your insurance may cover temporary accommodation if you need to move out of the home while repairs are being completed.

Some insurance policies cover things like damage to a garden, changing locks if you’ve been the victim of theft, or debris removal if there’s a storm. Additional accidental damage cover may also be available at an increased fee.

Costs of homeowners insurance in Australia

Building insurance in Australia is priced according to the specific home you want to cover. You’ll need to use a service like Canstar home insurance comparison to generate quotes based on the property, its value, and the excesses you are willing to pay in the event of making a claim. You can then compare different providers to pick the right one for your needs.

It’s helpful to know that the average costs of home insurance in Australia vary a lot by state. In New South Wales, home insurance averages at 2,320 AUD annually for example, with Western Australia coming in at just under 2,000 AUD. New Territories was the most costly location, at over 4,000 AUD. In all cases, insurance costs are rising, up 11% in 2025 compared to 2024 according to reports.

Liability insurance in Australia

Some liability insurance may be included in your home or contents insurance policy in Australia, to cover events such as a guest in your home incurring injury after an accident. To see exactly what’s covered you’ll need to review your policy wording carefully.

If you have building insurance you may find it includes liability insurance if there’s an incident within the property which causes death or injury to another person, or causes damage or loss to another person’s belongings. If you have contents insurance you may find that the policy only applies outside of your home and in more limited circumstances.

For people taking out landlords insurance, liability cover is more likely to be included, to offer protections in the event your tenant is injured in the home.

As legal liability insurance can vary a lot – including what’s covered and to what extent – you’ll need to double check your policy disclosures before you sign up.

Costs of liability insurance in Australia

There are several different ways you might take out liability insurance in Australia, often as part of another policy. This means that the costs can vary a lot. If you believe you need liability insurance in Australia you’ll want to check if policies you already have cover this element first before speaking to your insurer or a broker to arrange extended cover as required.

How to choose your home insurance in Australia

When you’re choosing insurance in Australia you’ll need to generate quotes from different providers and compare both their costs and the cover levels available. If you’re thinking of taking out several policies – including both building and contents cover for example – providers often have bundle deals which can mean you pay less when you buy both from the same provider.

Once you have a few different quotes and policies to compare you can look in more detail, including:

• Check what is covered and what is excluded – check the policy matches your risk and covers everything you believe is important
• Look at the excess amounts – this is a sum you would need to pay when making a claim. Higher excesses might mean a lower premium, but you’d pay more in the event of needing to claim
• Review the company’s feedback and reputation – review sites can give a good insight into what current customers think of a provider
• Understand the claims process – make sure there’s an intuitive and supportive way to make a claim should you ever need to

Applying for home insurance in Australia

Generally a home insurance policy in Australia will be for one year, and you can apply online. You’ll need to gather some specific information – such as the building construction methods for building insurance, or the insured value of your contents for contents insurance. You can then apply for a quote to see the costs and caps, and figure out the policy that may suit your needs.

Banks and insurance providers offer helpful calculators which can help you to navigate the process of getting a quote and deciding what amounts you need to cover. To give a feel for the process, here are the Commbank calculators to let you figure out the insured amounts that may be appropriate for your specific property:

• Building calculator
• Contents calculator

Once you have chosen a policy you can pay and accept the terms digitally. You’ll be sent a confirmation and the full policy wording for your records and in case you need to make a claim.

How to make a home insurance claim in Australia

If you need to make a home insurance claim in Australia you’re likely to be able to do so digitally. While different providers do have their own processes, they’re often online for convenience, and to allow you to upload relevant information and documents.

Depending on the claim type you will be asked to provide evidence which can include:

• Relevant photos showing the damage or loss
• Valuation certificates or receipts for items damaged or stolen
• A police report if there has been theft or vandalism

You can make your claim online following the provider’s process, and enter details of what’s happened, what losses have been incurred and what you would like to claim, supported by documents and evidence. Your claim will be passed to an assessor who may need to ask for more details from you.

Once your claim has been assessed you will be notified of the outcome and if successful you will be able to receive reimbursement or ongoing support depending on the nature of the issue.

Cancelling a contract or changing provider

You can cancel your home insurance cover by contacting the provider. There is usually a cooling off period of 21 days during which time the insurer will refund the full amount you have paid. If you want to cancel outside of this period, the provider will not necessarily refund the full amount, but you may be able to get back any unused portion of the premium paid.

Read your policy wording carefully to make sure you know your rights in the event you want to cancel an existing home insurance policy in Australia.

Making a complaint about a home insurance company in Australia

The Australian Financial Complaints Authority (AFCA) can support customers using insurance products including arbitrating in the case of a complaint.

You may make a complaint for example if you believe your premiums were incorrectly calculated or if information about a product was misleading or incorrect.

You can make a complaint about an insurer to AFCA online, by mail or by phone. AFCA recommends you contact your insurer to go through their internal dispute resolution process first, and then submit a complaint if you cannot resolve the issue directly. You’ll need to provide documents and explain the resolution you think would be fitting depending on what has happened.

Holiday home insurance in Australia

If you have a property in Australia which you let out to others you will often need to get landlord insurance rather than building insurance. Check through the terms of your policy carefully to ensure it is valid if the property is vacant or sublet.

Managing property expenses from abroad

If you’re managing your money across currencies, check out the Wise account and card.

Your Wise multi-currency account supports 40+ currencies, for payments, spending and withdrawals around the world. Currency conversions use the mid-market exchange rate with low, transparent fees from 0.63, avoiding foreign transaction fees if you’re travelling – or if you need to pay property expenses and insurance in a foreign currency.

Useful resources

• ASIC – regulator of insurance companies in Australia
• Australian Financial Complaints Authority – consumer body for complaint and issues with insurers
• Moneysmart – government resource on home insurance with ideas and links
• Canstar – home insurance comparison site
• Insurance Council of Australia – searchable directory of regulated insurance companies in Australia
• Canstar – average costs of home insurance in Australia
• Building calculator – Commbank tools to help calculate the cover needed
• Contents calculator – Commbank tools to help calculate the cover needed