Allianz vs. Budget Direct home insurance

Allianz is the global heavyweight with long-standing brand recognition, while Budget Direct is the local challenger known for keeping costs low. 

Both offer typical home and contents insurance policies and are familiar names to many Australians. So if you’re weighing up what you get for your premium and how the policy is put together, the comparison below lays it out. Let’s see how they stack up.

Allianz vs budget direct home insurance: events covered

Allianz and Budget Direct match each other on most of the basics, with cover for fire, theft, storm, glass breakage and $20 million liability. Flood cover is included automatically with Allianz, while Budget Direct offers it as an optional extra. For both, eligibility and premiums reflect the property’s assessed flood risk.

Another difference is on earthquake and funeral cover. Allianz applies an additional $250 excess on earthquake claims, while Budget Direct does not. Budget Direct also includes up to $7,000 for funeral expenses, which Allianz leaves out. While these are minor differences, they do favour Budget Direct in this comparison.

*Accurate as at 28 October 2025. Limits, sub-limits, exclusions and conditions apply and refer to the

Allianz vs Budget Direct: building cover

Both Allianz and Budget Direct will cover the main structure of your home and permanent fixtures up to your sum insured, but the differences show up in the additional benefits. Allianz has slightly more underinsurance cover, no time cap on the same 10% temporary accommodation, and extra cover for plants on top of the landscaping cover that each offers.

At the end of the day, however, these are minor differences, and both insurers offer a level of building cover that would suit most households, provided your sum insured is adequate.  

*Accurate as at 28 October 2025. Limits, sub-limits, exclusions and conditions apply and refer to the relevant PDS.

Allianz vs Budget Direct home insurance: contents cover

Both Allianz and Budget Direct cover the usual household contents like furniture, TVs and everyday electronics. Depending on the item and its value, some things are automatically covered under your total sum insured, while others may need to be listed separately to receive their full value. In either case, you can generally tailor the policy to suit what you own.

Where they start to differ is in a few specific areas that may not matter to everyone but could be important for particular groups.

Here, Allianz comes out slightly ahead, though Budget Direct isn’t far behind. Allianz includes home office equipment under general contents with no upper limit, great if you’ve got lots of high-end gear. Still, Budget Direct’s generous cap should more than cover a standard home setup. A similar calculus applies to tools of trade. Budget Direct also covers cash, plus contents in transit when you’re moving, which Allianz doesn’t.

Here’s a look at how each insurer treats some of these edge cases:

*Accurate as at 28 October 2025. Limits, sub-limits, exclusions and conditions apply and refer to the relevant PDS.

Allianz vs Budget Direct: price

Budget Direct holds the edge on value, having picked up two awards for Exceptional Value in the 2025 Mozo Experts Choice Awards for Home Insurance: one for its combined Building and Contents insurance and one for its standalone Contents insurance. When our team compared thousands of quotes across different insurers, its combined building and contents cover often came in cheaper than other brands offering similar levels of protection.

Allianz didn’t receive an award in this category, which suggests it’s not usually the lowest-cost option. Prices can still vary depending on your address, property type and the amount you insure for, so it’s worth checking both before making a decision.

Bottom line

Allianz and Budget Direct both deliver solid home and contents cover, with most of the basics lining up closely. On the cover side, it’s largely a toss-up, with Budget Direct ahead in some areas and Allianz in others. Most differences show up in edge cases, so the better fit depends on your individual needs.

The clearer distinction is price. Budget Direct has been recognised with a Mozo Experts Choice Award for Home Insurance, and it often comes in cheaper than other brands for a similar level of protection. That puts Budget Direct slightly ahead overall, though it’s still worth comparing quotes and checking the product disclosure statement to make sure the policy suits your needs.