Australia's cheapest home insurance: hard to quantify, but here's the next best thing

Rhianna Dews

26 Sep 2019

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Whether you’re already a happy home-owner, or a house window-shopper saving for a deposit, if you’ve put more thought into home decor than home insurance, then it’s time to get your priorities sorted.

Your house is likely to be the most expensive purchase you’ll ever make, so it only makes sense to get it covered with a solid home insurance policy. And we’ve recently announced the winners of our 2019 Mozo Experts Choice Awards for Home Insurance, to help get you started.

“We based our analysis on the likelihood that a policy would be amongst the cheapest options, for a given situation and level of cover. The winners were chosen on a combination of features and price, so while they may not be the absolute cheapest in every situation, we’re confident they represent the best value for most people,” said Mozo expert judge Peter Marshall.

Our expert judges analysed the details of 62 home insurance policies, comparing more than 15,000 quotes for different customer scenarios to find the policies that represented great value for a wide range of people.

Only the policies that offered Aussie homeowners the very best quality or the best value were named Mozo Experts Choice Award winners. So, without further ado, we bring you Australia’s best value home insurance policies of 2019!

Standout Home Insurance Winners:

Promoted

Budget Direct Home Buildings Insurance
  • 15% online discount

  • Underinsurance optional extra (up to 25% of sum insured)

  • Can add flood as an optional extra

Scoring the award for Exceptional Value Home & Contents Insurance in the 2019 Mozo Experts Choice Awards for Home Insurance, Budget Direct Home Insurance offers cover for most major natural disasters, like fire, lightning and explosions, with optional extra flood and fusion cover. Plus, when you sign up online, you’ll also receive a 15% discount!

On top of winning the Exceptional Value Home & Contents Insurance award, Budget Direct hit the ball right out of the park, with a win in all three categories of the 2019 Mozo Experts Choice Awards for Car, Home and Landlord Insurance! In fact, this multi-award-winner went on to win the prestigious title of Insurer of The Year!

“Budget Direct went on a total award-winning blitz, collecting awards in all three Exceptional Value categories in the 2019 Mozo Experts Choice Awards for Car Insurance, Home Insurance and Landlord Insurance,” said Mozo expert judge Peter Marshall.

“From its unbeatable prices to its value-packed policies, Budget Direct really caught the eye of Mozo’s expert judging panel this time around,” said Marshall.

Promoted

Youi Home Insurance
  • Flood cover at no extra cost

  • 12 months of temporary accommodation for you & your pets

  • Get half your premium back in YouiRewards

A huge pat on the back to Youi Home Insurance, for taking out the Mozo Experts Choice Award for Exceptional Value Home & Contents Insurance, for the second year in a row. Proving itself as one of Australia’s top value policies to our Mozo experts time and time again, the multi-award-winning Youi Home Insurance offers an extensive range of cover and the flexibility to adjust your excess.

But where Youi Home Insurance’s value really shines through is in its hot features, like optional counselling services, plus, you’ll wind up getting half your premium back in YouiRewards which you can redeem with YouiRewards’ partners on flights, tickets or products. Talk about some extra bang for your buck!

Promoted

Woolworths Comprehensive Cover
  • Up to 30% discount

  • Up to 12 months of temporary accommodation (up to 10% of sum insured)

  • 2017 Mozo Experts Choice Award-winner

With Woolworths Home Insurance, you won’t have to compromise on quality for affordability. Offering cover on tonnes of different events, like fires, lightning, storms, and floods, plus, the flexibility to choose your excess, Woolworths Home Insurance is jam-packed with value. You’ll also have the chance to score a 30% discount, as you’ll get 20% off for applying online and an extra 10% off when you combine your policy with another Woolworths insurance policy.

Not only did Woolworths take out the Exceptional Value Home & Contents Insurance award for its Building & Contents Insurance, but they also won the Exceptional Value Landlord Insurance award for their Landlord Building & Contents Insurance. Talk about a double whammy!

The Mozo Experts Choice Awards analysis process is overseen by Mozo’s Data Services Director, AJ Duncanson and our Product Data Manager, Peter Marshall. AJ is a data scientist and actuary and has nearly three decades of experience working in financial services and product comparison behind him. 

Overall, the winners were divided into two main awards categories: Exceptional Value Home Insurance and Exceptional Quality Home Insurance. 

Exceptional Value Home & Contents Insurance award-winners

On the hunt to find the winners of the Exceptional Value Home & Contents Insurance category, our Mozo experts carefully examined and assessed 49 different home and contents insurance policies using over 15,000 customer quotes.

Aside from those featured above, the winners list included:

ING Home and Contents Insurance

• RAC Home Insurance

• Virgin Money Home and Contents Insurance

• Westpac Essential Care Home Insurance

• Westpac Premier Care Home Insurance

Exceptional Quality Home & Contents Insurance award-winners

To pick the Exceptional Quality Home & Contents Insurance awards category winners, our Mozo expert judging panel meticulously assessed 62 different policies against a strict criterion.

To be eligible for an award in this category a policy must cover a large range of different events and items, with priority placed on factors like accidental loss and damage, protection against underinsurance, how damaged items are replaced among others. Meet the winners:

• ANZ Home and Contents Insurance

• GIO Platinum Home Insurance

• NRMA Home Insurance Plus

• SGIC Home Insurance Plus

• SGIO Home Insurance Plus

• Westpac Premier Care Home Insurance

"If you want a top-notch policy with great value for money but don’t know all the ins and outs of home insurance, then consider a Mozo Experts Choice Award-winner," Marshall said.

For more options, hit up our home & contents insurance comparison table. Don’t forget to go and check out at the rest of the 2019 Mozo Experts Choice Award-winners for Home Insurance!

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