Every year our team of product experts and analysts perform a detailed assessment of a wide range of home and contents insurance policies available to Australian consumers as part of the Mozo Experts Choice Awards for Home Insurance.

When analysing a policy, the team keeps an eye out for standout policies that meet the criteria for exceptional value and/or exceptional quality home and contents insurance.

For the 2025 awards, Mozo’s experts conducted a comprehensive analysis of 54 home and contents policies. Winners in our Exceptional Value category were determined by comparing a collection of customer quotes that included more than 5,000 for home insurance and more than 7,000 for contents insurance. For the Exceptional Quality category, our experts assessed a wide range of factors to hand-select the year's best policies. 

• Exceptional value awards. Home Insurance that’s among the best-priced for the main features it offers, based on a comparison of prices for selected customer scenarios.

• Exceptional quality awards. Home Insurance cover that leads the market in the generosity of additional benefits and flexibility of options, irrespective of price.

For more insight into our methodology, feel free to check out the page linked above.

The Mozo People’s Choice Awards for Home Insurance are not judged by data analysts and professional researchers. Instead, the winners of these awards are decided by you, the actual customer.

For the 2025 awards, over 4,000 Aussies rated providers on customer service and customer satisfaction, the signup experience, and for insurance, what the claims process was like. The Mozo People’s Choice Awards have been running since 2011.

The winners in the previous section weren't the only providers recognised for exceptional value for their combined home and contents policy and/or their standalone contents policy at the 2025 Mozo Experts Choice Awards for Home Insurance. So if you're searching for an affordable home insurance policy in 2025, the following providers are well worth a look:

• AAMI
• APIA
• Budget Direct
• Coles
• ING
• NRMA Insurance
• Coles
• RACQ
• Suncorp
• Westpac
• Youi

In addition to the great value providers we've mentioned, the 2025 Mozo Experts Choice Home Insurance Awards also celebrated several insurers for their exceptional quality. Here are a few more worth noting:

• AAMI
• ANZ
• BCU Bank
• Bendigo Bank
• GIO
• MyState Bank
• NRMA Insurance
• P&N Bank
• People First Bank
• Suncorp
• ANZ
• Apia

The praise from Australian customers didn't end with Youi. Here are the rest of the winners from the 2025 Mozo People’s Choice Awards for Home Insurance:

• APIA              
• NRMA Insurance
• RAA 
• RACQ 
• RACV 
• Westpac
• Coles Insurance
• RAC Home Insurance
• RACQ Home Insurance
• RACV Home Insurance

Home insurance is a contract between you and your insurer, where you pay your premiums in return for financial protection for your home and belongings against a range of covered events.

The type of home insurance that’s right for you depends on specific circumstances like the type of building and whether you rent, own or have an investment property.

Here are the main types of home insurance:

• Home building insurance. Building insurance covers the physical structure of your home, including permanent fixtures like walls, roof and floors. It usually also includes liability cover that protects you if someone injures themselves in your home.
• Home contents insurance (or renter’s insurance). Contents insurance protects your belongings inside the home, such as furniture, electronics and personal items. For renters, it can be called renter’s insurance, but there's no major difference between the two.
• Combined home & contents insurance. The most comprehensive option, this bundles both building and contents cover. In other words, it covers your home and everything in it from a range of covered events, like theft, fire or storms.
• Landlord insurance. This is building and/or contents insurance for landlords, with added protection for unique risks like loss of rental income and tenant damage. The guide that follows doesn't delve into landlord insurance, but you can click the link above to learn more.

A product disclosure statement, or PDS,  tells you exactly what’s covered, what’s not, how much coverage you have, and the specific situations when you can make a claim, plus anything that might void your cover. 

You can find the PDS for any home insurance policy on the insurer’s website, whether you’re a customer or not. Simply pull up the PDS of any policy you’re considering and use it to compare options or understand your chosen policy inside and out. 

Renters insurance is essentially contents insurance for people who rent. In fact, many insurers use the same PDS for both, with minor differences or notes explaining specific considerations for renters.

For example, with temporary accommodation, if your lease excuses you from paying rent when the property is unlivable, the policy might only cover extra costs beyond your usual rent.

Otherwise, there’s basically no difference.

Being underinsured means your policy doesn’t cover the full value of your home and possessions. It often happens when the rebuild costs of your home increase over time, you conduct renovations, or you upgrade some of your possession, but then forget to update your policy to reflect the new rebuild or replacement value. 

When this happens, you’ll be left on the hook for the difference in cost should there be a total loss. For a partial loss, your insurer could reduce your payout by the same percentage you were underinsured.

Many policies offer underinsurance protection as an optional add-on. If you choose it, it can cover anywhere from 20-30% more than what you’re actually insured for.

The best way to work out how much to insure your home for is to understand that the 'value' is based on the rebuild cost. In other words, how much it would cost to rebuild your home from the ground up if it were completely destroyed. This is different from the market value of your property.

To avoid being underinsured, you'll need an accurate rebuild cost estimate. Here are a few ways to get one, some more precise than others:

• Use an online calculator. A good starting point is to search for a 'home rebuild cost calculator' online. These tools provide a solid baseline estimate to work with.
• Hire a professional. For the most precise figure, hire a quantity surveyor or valuer. The Australian Property Institute’s website has a search tool to help you find a local expert.
• Compare insurer estimates. When you get online quotes, insurers will suggest a rebuild cost. Compare these different estimates against your own baseline figure to see if they are realistic.

Unlike car insurance where you might pick between comprehensive or third party, home insurance doesn't really have those distinct ‘levels’. Instead, you typically choose what you want to cover: the building only, just your contents, or both.

If you're looking for the cheapest option, taking out building insurance only is generally more affordable than a combined policy. This might make sense if you do not have many valuable contents, or if you are comfortable covering your belongings yourself in case of damage or loss. 

Beyond that, the main way to get a cheaper premium is to avoid all the optional extras that can add to the cost - but only if you don’t need those extras. 

Yes, many insurers provide discounts for combining your building and contents insurance policies, resulting in lower premiums compared to purchasing each policy separately. However, the type and size of the discount can vary – it might be a smaller monthly payment or a one-off upfront discount on your first month’s premiums.

And while bundling house and contents insurance might offer savings, but it's key to check the specifics. Not all insurers offer bundling options, and even when they do, the deal you get might not always be the best for your particular needs. It's wise to use comparison tools or speak directly with various insurers to explore your options.

No, undervaluing your home is not a smart way to save. Doing so can result in underinsurance, where you're only paid a percentage of the total cost of damages, leaving you out of pocket for the rest. Worse still, if the insurer finds it was intentional, it could lead to your claim being denied altogether.

How you respond immediately after an incident is key to the investigations, assessments and resolutions that follow. That’s where documentation is important. Here’s what you need to know:

• Documenting home damage. If your home suffers damage from a storm, fire or other covered event, take clear photos of the damage, note down the details (such as time and cause), and keep any receipts for emergency repairs or temporary fixes.
• Documenting theft or valdalism. Contact the police and file a report. Then, document any stolen or damaged items by taking pictures and gathering receipts or records. Contact your insurer to inform them and follow their instructions.
• Documenting liability incidents. If someone gets injured on your property, take photos of the scene, get witness statements, and keep any medical or police reports that may be relevant.

Your policy may have specific conditions for smaller incidents (like a broken window or damaged fence). Your PDS will outline how to handle these situations, but when in doubt, reach out to your insurer for guidance.

Once your insurer has reviewed the details of your claim and investigated the incident, they will either approve or deny your claim and pay out any damages. If your claim is denied or you disagree with their decision, you have two options for appeal:

• Internal appeals process. Your home insurer will have an internal disputes resolution team that is separate from the department that handled your claim. The first step is to lodge an appeal with them, following the process outlined in your PDS.
• Australian Financial Complaints Authority (AFCA). If you're not satisfied with the result of the internal appeal, you can take your case to the AFCA for free and independent dispute resolution.

Home insurance can be a bit tricky when it comes to flooding. The term 'flood' for insurance companies generally refers to water escaping or being released from natural sources, like rivers or lakes, and getting into your home. Many policies won’t automatically cover it, meaning you’ll need to opt-in to get the insurance.

Even if your policy doesn’t cover floods, it will likely still cover damage caused by rainwater pooling in low-lying areas, as long as there's not also a creek or other natural watercourse involved.

Don’t forget to check your PDS ahead of time: being clued up on your policy’s coverage before you're knee-deep in water is always a smart move.

Yes, for the resulting damage. If a pipe suddenly leaks or an appliance overflows, building insurance typically covers damage to your home's structure, and contents insurance covers your damaged belongings. Fixing the source of the leak (like the worn-out washing machine hose) itself might not be covered. Gradual leaks or damage from poor maintenance are often excluded.

Yes, for the resulting damage if the leak is caused by an insured event, like a storm damaging your roof. Building insurance would cover repairs to the roof structure and any internal damage. If the leak is just from wear and tear or lack of maintenance, it's usually not covered.

Yes, but mostly for the clean-up. If a pipe bursts, your building insurance usually pays to fix the water damage to walls and floors, while contents insurance covers wrecked belongings. The policy often won't pay to fix the broken pipe itself, just the damage it caused. It also doesn't cover routine jobs like clearing a blocked drain.

Yes, generally under building insurance as it's considered a fixture. It would be covered if damaged by an insured event like a fire or storm. Some policies also include cover for 'motor burnout' or 'fusion' which can protect things like hot water systems if they suddenly fuse or burn out. If it just stops working due to old age, the replacement might not be covered, but damage it causes (like if it bursts) usually is.

No, unfortunately rising damp is almost always an exclusion. Insurers view it as a maintenance or building-flaw issue that happens slowly over time, not as a sudden event. It’s different from the kind of water damage policies do cover, like a leak from a storm-damaged roof or a burst pipe.

Sometimes, a little. Building insurance can cover things like your plants, trees, and lawn if an insured event, such as a fire or storm, causes the damage – though there's usually a specific limit on how much they'll pay. It generally won't cover a general garden makeover or routine maintenance.

Yes, but generally only if a storm or another insured event knocks it down. If a fallen tree has damaged your house or is blocking your driveway, building insurance will typically cover the cost to remove it and fix any damage. It won't cover removing a tree just because you think it looks dangerous or might fall in the future.

Yes, this is a core part of building insurance. It’s there to cover structural damage to your home – think walls, the roof, foundations – when it's caused by an insured event like a fire, storm, or an impact. It won't usually cover damage that happens because of general wear and tear or if maintenance hasn't been kept up.

This is often a tricky area. Generally, no, foundation problems aren't covered if they're from gradual settling, general soil movement, or issues with the original construction. However, if a specific insured event – like a major burst pipe that causes sudden ground collapse, or an earthquake (if your policy includes that cover) – directly damages your foundation, then your building insurance might provide cover.

Coverage for subsidence varies quite a bit between policies. Some may offer limited cover if the ground beneath your home sinks (subsidence), particularly if it’s a sudden event caused by something insured. However, it's often an exclusion if the cause is more general soil movement or gradual settlement over time. You'd really need to check your specific policy wording for this.

Unfortunately, no. Termite damage is considered a maintenance issue that can be prevented with regular pest control, so it's a standard exclusion in almost every home insurance policy.

Often, no. Gradual damage caused by tree roots to things like pipes, paths, or foundations is usually excluded. If tree roots cause a sudden event, like bursting a pipe that leads to water damage, the resulting water damage might be covered, but not necessarily the damage caused by the roots themselves.

Yes, this is a really important part called 'legal liability' cover. Both building and contents policies usually include it. It can cover you if someone is accidentally injured (or their property is damaged) at your home and you're found legally responsible. It doesn't cover injuries to you or your family who live with you.

Yes, usually. Accidental breakage of windows is often covered under building insurance – sometimes as standard, or as an optional extra for "accidental glass breakage." It's also covered if broken due to an insured event like a storm or vandalism.

Generally, no. Standard home and contents policies don't typically cover your belongings while they're in transit with a removalist. You'd usually need specific transit insurance or check if your removalist company offers it. Some policies might offer very limited cover if you're moving items yourself to your new insured address.