Best Home Insurance 2018

Congratulations to the 2018 winners of Mozo Experts Choice Awards for home insurance. These awards recognise home and contents insurance policies that provide Australians with exceptional value for money and exceptional quality cover and benefits. Start your search here to find a home insurance policy suited to your needs.

Experts choice awards hero 2018

What are the Mozo Experts Choice Awards?

The Mozo Experts Choice Awards have been running since 2014 and recognise products that offer customers the very best in the market.

The Exceptional Value awards recognise home insurance policies that are among the best-priced for the cover they offer. For these awards, we obtained a over 15,000 quotes from each of 36 different home and content insurance providers.

For the Exceptional Quality awards, we compared 125 home insurance policies from 36 home insurers. We assessed quality of cover on each product, comparing a wide range of features including accidental damage and flood cover. Mozo also assessed customer experiences when dealing with the insurer as well as their track record of handling disputes with the financial ombudsman services.

For details on how we crunched the numbers and determined our winners see our 2018 Mozo Experts Choice Awards Insurance methodology report.

Insurer of the Year: Suncorp

Scooping awards for both Exceptional Value and Exceptional Quality in Car Insurance as well as Home and Contents Insurance, Suncorp has been named the Mozo Experts Choice Awards Insurer of the Year for 2018. The winning combination of quality cover, choice and competitive pricing offered should make Suncorp an option worth considering for your insurance needs in the year ahead according to Mozo’s money experts.

Exceptional Value Home & Contents Insurance

ANZ - Home Insurance

No extra cost

Covered

Yes - full building replacement

Great value and feature packed with very generous building cover. Includes accidental loss and damage and excellent underinsurance protection. The cover also applies even when the home has been unoccupied for up to 120 days.

APIA - Home & Contents Insurance

No extra cost

Optional Extra

No

A wide range of excesses to choose from plus the option to add cover for accidental damage if you want it. Covers contents while away from home for up to 6 months and full cover for contents while moving.

Budget Direct - Home & Contents Insurance

Costs extra

Optional Extra

Optional Extra - Up to 25% of sum insured

Exceptional value and the flexibility to adjust premiums by choosing from a wide range of excess levels and optional underinsurance protection. Contents are covered up to 20% of the insured sum while moving and temporary accommodation is covered up to 10% insured sum.

ING - Home & Contents Insurance

Costs extra

Optional Extra

Optional Extra, up to 25% of sum insured

Comprehensive cover including new for old replacement cover. Includes cover for contents up to 20% of the insured sum when moving, up to 12 months pet accommodation and if you have a home office, contents are covered for up to $12,000.

Youi - Home & Contents Insurance

Costs extra

Optional Extra

No

Awarded for its competitive pricing, this is one of the most flexible policies around. Choose what you want to pay for. Basics are covered such as carpet and temporary accomodation, but things like jewellery, tools of trade and veterinary expenses are optional.

RAC - Home & Contents Insurance

Costs extra

Optional Extra

No

For WA residents, comprehensive cover for your home and what’s inside. Flexibility to adjust premiums by changing the excess or leaving out accidental loss and damage if you don't want it. Includes built-in top cover for motor fusion and computer equipment.

SGIC - Home Plus Insurance

Costs extra

Optional Extra

No

If you’re in SA, this is great value protection for your home and your belongings. Includes a 25% underinsurance buffer built in, generous cover for items such as lock replacement and motor fusion and the largest allowance for building materials (up to $5,000).

Exceptional Value Contents Insurance

Suncorp - Classic Extras Home Insurance

Costs extra

Covered

No

A great balance of price and cover for your contents. Automatically covered for loss or damage to the contents of your home from events such as floods, storms, fires and theft. Full cover while changing addresses, for contents kept outdoors and computer hardware and software. Also includes cover for up to 6 months away from the home.

Westpac - Essential Care Residential

No extra cost

No

Yes - Up to 5% of sum insured

Sharply-priced contents cover without all the bells and whistles. An offering for the budget conscious which includes a 5% underinsurance allowance, covers contents while moving for up to 14 days and $5,000 for temporary accommodation should it be needed.

RACQ - Contents Insurance

Costs extra

Optional Extra

No

A great value option for Queenslanders. Mid-range cover with new for old replacement. Flexibility to add personal medical devices and up to 4 items to a value of $2,000 each for cover while away from home.

Exceptional Quality Home & Contents Insurance

QBE logo
QBE - Home Cover Prestige
  • Loss and damage for wide range of events including fire, theft, flood, storm

  • Accidental damage to your home and/or contents is automatically included

  • Lower the cost of your cover by opting for a higher excess

The highest level of cover available from QBE means that you’ll enjoy extra benefits and higher limits across selected items on your policy. Includes generous underinsurance protection of up to 30%, no limit on the cost of debris removal or demolition costs if a clean-up is needed. Claims as a result of power surges is included standard which is a bit of a rarity.

Suncorp logo
Suncorp - Classic Advantages Home Insurance
  • Loss or damage to your home and its contents from events such as floods, storms, fires and theft

  • Safety net home insurance protection up to 30% of the home sum insured

  • Lifetime guarantee on home repairs authorised and arranged by Suncorp

Quality insurance means a wide range of events covered and higher policy limits so if you want to have top cover for your home and contents, this is a policy to consider according to Mozo’s money experts. Suncorp’s top-tier product offers a wide range of excess choices and the policy includes cover for accidental damage. Generous underinsurance protection of up to 30% and if clean up required, debris removal and demolition are covered for up to 20% of the sum insured.

Westpac logo
Westpac - Premier Care Residential
  • Peace of mind cover for a wide range of events – storms, floods, fire, theft and more

  • Sum insured safety net incase repair or replacement costs are higher than expected

  • Pay by the month for no extra fee

With Westpac’s Premier Care policy you’re getting the highest level of cover for your home and contents. This policy is one of only a few to offer cover if hit by a storm surge. It also has in-built underinsurance protection of up to 30% of sum insured and covers fusion of motors up to 15 years old. For those with a large gardens, landscaping claims are paid up to $10,000 along with gates and fences up to the sum insured.

NRMA logo
NRMA - Home Plus Insurance
  • Quality insurance protection for inside and outside your home from natural and unexpected events

  • New for old replacement of your household contents and personal belongings

  • Lifetime guarantee on the workmanship for any authorised repairs to your home

Having peace of mind is important when your biggest asset is at stake, which is why NRMA’s Home Plus policy stood out in this year’s Exceptional Quality awards. You get all the standard features and benefits of standard home insurance plus automatic underinsurance protection of up to 25%. Other benefits include a no dollar limit on temporary accommodation, emergency storage and temporary accommodation for pets - all covered for up to 24 months. It also includes a very high allowance for covering building materials of up to $5,000.

SGIC logo
SGIC - Home Plus Insurance
  • Up to 25% safety net on top of the buildings and general contents sum insured

  • New-for-old as standard, should your items require replacing if they’re stolen or damaged.

  • Lifetime guarantee on the workmanship for any authorised repairs to your home

If you’re a South Australian resident after quality insurance cover for your home, SGIC Home Plus ticks the boxes according to our experts. Great standard standard home insurance cover for events like fire, floods and theft (and many more), plus automatic underinsurance protection of up to 25%. Other benefits include up to a 24 month no dollar limit on emergency storage and temporary accommodation for you and your pets.

SGIO logo
SGIO - Home Plus Insurance
  • Up to 25% safety net on top of the buildings and general contents sum insured

  • New-for-old replacement should your items require replacing if they’re stolen or damaged.

  • Lifetime guarantee on the workmanship for any authorised repairs to your home

Live in WA and want top quality cover? SGIC Home Plus Insurance has a great range of benefits and features. It includes all the standard events cover like flood, fire and theft but also has great underinsurance protection of up to 25% of the sum insured. There is no dollar limit on temporary accommodation, emergency storage and temporary accommodation for pets, which are all covered for up to 24 months should your home no longer be in a livable condition.

Exceptional Quality Contents Insurance

APIA logo
APIA - Apartment Insurance
  • New-for-old contents replacement - regardless of age

  • Cover for fire, theft, vandalism, storms and flood damage

  • Pay your premiums monthly at no extra cost

If you’re after quality contents cover and you live in a multi-story building, over 50s insurance specialist APIA stood out in this year’s awards. In addition to being covered for events like fire, theft and storm, you get cover for fixtures and fittings you own and that are not covered by body corporate. APIA's excess can be reduced to $0 so you aren't up for a bill when you least want it, and if you are moving home you get full cover for your contents.

GIO logo
GIO - Platinum Contents
  • Covers valuables like appliances, important documents furniture, jewellery and more when lost or damaged by events such as storms, theft, fire or flood

  • Automatically includes contents you take with you away from home, like your mobile phone, jewellery or laptop within Australia and NZ

  • Cover of up to $20,000 for home office equipment

With the highest level of benefits, and the highest claim limits it’s no wonder why GIO’s Platinum contents insurance won an award this year for Exceptional Quality. It offers some of the most generous cover levels available across a wide range of items such as jewellery, dvd and cd collections, carpets, antiques, personal medical devices and home office equipment.

FAQs:

What’s the Judging Criteria for the awards?

The Mozo Experts Choice Awards recognise products that deliver exceptional value or benefits to consumers and have been running since 2014.

For Exceptional Value Awards, we considered a total of 15,000 home insurance customer scenarios, from these samples we calculated the likelihood that a given product would be among the top 4 quotes for an individual customer. A higher likelihood means that a product is well-priced for a wider range of customers.

For Exceptional Quality Awards, the criteria for home insurance included:

  • How well the policy scored on a range of factors including the nature and extent of the insurance cover, and the inclusion of added benefits. In other words, what’s covered and up to what limits?
  • How customers rated the experience of dealing with this insurer?
  • Whether disputes are relatively rare, and when they do happen are they resolved quickly?

See our methodology report for more detailed information on how we performed the price comparisons and determined the final winners list.

Did you compare all home and contents insurance policies in the market for these awards?

We won't have covered every insurance product out there, but we try to include all the major brands - and not just those we have a commercial relationship with. We assessed 125 different contents or home & contents products in this year’s awards.

How do I find the cheapest home insurance policy for me?

Your first step should be to check out this year’s winners in our Exceptional Value Awards. Our experts crunched the data on over 15,000 customer scenarios and these were the insurers and policies that tended to come out cheaper than other similar products.

Many factors go into determining the cost of home and contents insurance such as where you live, the events and limits you want cover for and the value of your home and contents. It’s always a good idea to get more than one quote as many insurers will price policies differently so by shopping around you can be sure to get the best deal for you.

What product features or benefits did you consider for the Exceptional Quality Awards?

For home insurance, we considered a total of 38 features with the essential ones being: accidental damage, underinsurance protection and 24/7 phone service. If you’d like to see the full list, read the methodology report.

Where did you get customer experience data for the Exceptional Quality Awards?

Customer experience scores were sourced from a national survey of 3,693 Australians commissioned by Mozo and undertaken by IPSOS in April 2018, which measured customer ratings of the experiences of getting a quote, dealing with customer service staff and making claims. Dispute data came from the information published by the Financial Ombudsman Service.

Who are Mozo’s experts?

Our research team is headed by our Data Services Director and our Product Data Manager who have over 50 years of combined financial services experience and 22 years in online financial comparison.

I work for an insurer, how do we promote our win?

Please get in touch with us to discuss by emailing or phoning our advertising sales team on 02 9037 4368.