Budget Direct home insurance

3.1
Based on 254 Budget Direct home insurance product reviews.
Fact Checked
Last updated

About Budget Direct home insurance 

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Budget Direct Home & Contents Insurance review

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Home & Contents Insurance

Fire
Yes
Theft or burglary
Yes
Storm
Yes
Flood
Optional Extra
Go to site
  • 2024 Mozo Experts Choice Award winning policy

  • Fire, theft, and storm damage cover as standard

  • Multiple ways to tailor your coverage using optional extras

  • Save 30% on your first year’s premium when you buy online.

  • Does not include flood cover as standard (it’s an optional extra)

  • Monthly and fortnightly payments cost extra.

Our verdict

This policy won Budget Direct a 2024 Mozo Experts Choice Award for offering Exceptional Value Home & Contents Insurance to their customers. But what gives Budget Direct its edge over the competition? 

For starters, the Home & Contents Insurance policy covers damage or loss caused by fire, theft, storms, and more. However, it doesn’t automatically cover you for flood damage, which is only available as a paid optional extra.

Speaking of optional extras, Budget Direct offers a lot. Your options include flood cover, accidental damage, appliance motor burnout, underinsurance protection, and even options for landlords to protect against damage caused by tenants. The versatility of Budget Direct’s optional extras means you can tailor coverage to get the protection you want, or keep your premium lower by not including what you don’t need. 

While you do have the option to pay for your insurance annually, monthly, or fortnightly, only the yearly option is fee-free. If you prefer to pay in accordance with your pay cycle, make sure you check out the Product Disclosure Statement (PDS) for this policy to find out what processing fees are applicable to you. 

Another thing worth noting, which could be good or bad depending on how you look at it, is that Budget Direct’s policy has a feature which they call ‘inflation protection’. It’s a feature that increases the amounts for which your home and contents are insured, to keep up with inflation. This basically helps keep you insured for the right amount of money when the cost of replacing damaged or lost items, for instance, increases. The downside of this, however, is that “your premium will be adjusted accordingly”, which roughly translates to an annual increase.

Budget Direct currently offers a huge 30% discount off your first year’s premium when you buy a bundled Home & Contents Insurance policy online (T&Cs apply).

Where do I get it? Head over to Budget Direct to take advantage of this offer >>
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Important information on terms, conditions and sub-limits.
Last updated 4 December 2024 Important disclosures

Budget Direct home insurance

  • Home Buildings Insurance

    Get award-winning Home and Contents Insurance at a price you can afford from Budget Direct. Save a huge 15% on your first year’s premium when you purchase a new combined Home Buildings Insurance policy online.

    Main events covered
    • fire
      Fire
    • theft
      Theft
    • storm
      Storm
    • flood
      Flood
      Optional Extra
    Monthly payments cost extra
    Calendar icon
    yes
    Underinsurance protection
    Underinsurance protection icon
    Optional Extra - Up to 25% of sum insured
    New for old replacement
    Replacement icon
    Yes
    Go to site
    Details
  • Contents Insurance

    Get award-winning Contents Insurance at a price you can afford from Budget Direct. Save a huge 15% on your first year’s premium when you purchase a new Contents Insurance policy online.

    Main events covered
    • fire
      Fire
    • theft
      Theft
    • storm
      Storm
    • flood
      Flood
      Optional Extra
    Monthly payments cost extra
    Calendar icon
    yes
    Underinsurance protection
    Underinsurance protection icon
    No
    New for old replacement
    Replacement icon
    Yes
    Go to site
    Details
  • Home & Contents Insurance

    Get award-winning Home and Contents Insurance at a price you can afford from Budget Direct. Save a huge 30% on your first year’s premium when you purchase a new combined Home and Contents Insurance policy online.

    Main events covered
    • fire
      Fire
    • theft
      Theft
    • storm
      Storm
    • flood
      Flood
      Optional Extra
    Monthly payments cost extra
    Calendar icon
    yes
    Underinsurance protection
    Underinsurance protection icon
    Optional Extra - Up to 25% of building sum insured
    New for old replacement
    Replacement icon
    Yes
    Go to site
    Details

Get the latest news and product updates.

Budget Direct home insurance ratings

Overall customer rating for Budget Direct home insurance

3.1
Based on 254 product reviews.

Customer reviews

Important disclosures

FAQs about Budget Direct home insurance

How do I make a claim on my Budget Direct home insurance policy?

To make a claim on your Budget Direct home insurance policy, you can call the provider on 1800 069 336, or make a claim online through the Budget Direct website. 

Does Budget Direct home insurance cover hail damage?

Hail is considered part of storm damage, which is a standard inclusion in Budget Direct’s home insurance policy. However, there are circumstances when hail damage is not covered. For example, if you leave a window open during a hail storm, or it gets inside and causes damage to your possessions due to poor craftsmanship, you won’t be eligible to claim the costs on your insurance. 

What is the cooling-off period for Budget Direct home insurance?

There is a cooling-off period of 21 days from the issue date of your Budget Direct home insurance policy. In this timeframe, you’re able to cancel your policy and get a full refund if you haven’t made a claim. If you wish to cancel your policy outside of the cooling-off period, Budget Direct may give you a partial refund for the remaining portion of the premium you paid. You may also be charged a $40 early cancellation fee. 

How to cancel Budget Direct home insurance

You can cancel your Budget Direct home insurance policy by contacting Budget Direct on 1800 069 336

Budget Direct products

Home insurance quick links


* Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.

^See information about the Mozo Experts Choice Home Insurance Awards