Australia’s best home insurance of 2021

Your home is probably the largest and most meaningful purchase you’ll make in your lifetime, so it’s only natural to be picky when it comes to your home insurance provider. But navigating all the policies out there can be tricky.

To make things a little bit easier, our team of experts scour the market each year in search of policies that offer great value and market-leading features. This year, our panel of experts pored over 62 policies, assessing them on the basis of price, level of cover and more.

“We compare a huge range of policies and details to help customers narrow down their search. Whether you’re looking for a policy that offers value or one that boasts generous coverage, there’s sure to be one that suits you in our list of winners,” said Mozo expert judge, Peter Marshall.

The Mozo Experts Choice Insurance Awards are split into two categories - Exceptional Value and Exceptional Quality - and the winners in each are listed below. We’ve also included an overview of three standout home insurance options from the 2020 awards that are still offering great coverage into 2021.

Standout home insurance options for 2021

  • 30% online discount
  • New for old replacement
  • Legal liability up to $20 million
  • Temporary accommodation for you and your pets

If you’re after a policy that combines wide-ranging cover with plenty of value, Budget Direct Home and Contents Insurance could be right for you. When you sign up, your house and valuables will be covered for a range of events, including theft, storms and accidental breakage of glass. Flood cover is also available as an optional extra. 

As for your valuables, jewellery is insured up to $1,000 an item and artwork up to $5,000 an item. And if you work remotely, you’ll appreciate knowing the contents of your home office are insured up to $12,000. You can also expect Budget Direct to replace any lost or damaged items with brand new ones, no matter how old the original items were.

On top of that there's also optional personal effects cover for frequent travellers. And with temporary accommodation cover, you can rest easy knowing you’ll have a roof over your head for up to 12 months (up to 10% of the sum insured) if your home is damaged or destroyed.

  • 15% online discount
  • New for old replacement
  • Emergency accommodation included

For those who want a policy with all the bells and whistles, Westpac's Premier Care Residential option is well worth a look. Along with cover for damage caused by storms, flood, lightning, fire and theft, you’ll be insured against other unfortunate events like electrical motor burnout, accidental breakage of glass, and accidental loss or damage. 

Artworks are covered up to $20,000, home office equipment is covered up to $15,000, and jewellery and watches are covered up to $5,000 per item. Meanwhile, there’s no limit to cover for electronic equipment, computer equipment, CDs, DVDs and games.

There's also a range of additional benefits, including emergency accommodation (up to 10% of the sum insured or for up to 12 months, whichever is less), and up to $5,000 provided for the installation of rainwater tanks and solar heating. What’s more, up to $20 million is earmarked for legal liability cover.

  • 20% online discount
  • New for old replacement
  • Temporary accommodation for you and your pets

Woolies isn’t just the go-to supermarket for millions of Australians, it’s also a provider of quality home insurance. Its building and contents insurance policy protects against fire, theft, storm and flood, with cover also extending to any fences and gates up to the sum insured. 

Landscaping is insured up to $750 and replacement locks up to $500. And if you find yourself unable to stay in your property because of substantial damages, the policy will cover up to 12 months of temporary accommodation (up to 10% of sum insured). $500 is also earmarked for temporary accommodation for your pets if needed.

When it comes to your contents cover, things like CDs and DVDs, handwoven carpets, jewellery and antiques are insured up to $1,000 per item and up to $2,500 per item category. The contents of your home office will be also covered up to $5,000, while outdoor contents are insured up to $4,000.

St George Premier Care Residential**
  • 25% discount when you apply online for the combined policy
  • Up to 30% underinsurance
  • New-for-old contents replacement if repair isn’t possible

The Premier Residential Care home and contents insurance from St George offers a fantastic level of cover with some great discounts on top. You can stress less about wild weather knowing your home is insured for natural disasters including fire, storms, earthquakes and even floods as standard (the last of which isn’t always a common standard inclusion in home insurance policies). Accidental damages, theft and vandalism are also covered. 

And just in case you didn’t value your home and belongings to their full worth when you took out the policy, the Premier option comes with a safety net which will cover an additional 30% of the cost of replacing everything on a new-for-old basis if it can’t be repaired.

As with all home insurance policies, there are conditions and price caps for the various coverage types, so be sure to read your policy documents carefully. Some limits include the 12-month (or 10% sum insured) accommodation cover if your home is unlived, up to $5,000 per jewellery item (or $20,000 in total), up to $2,000 to replace important documents and $15,000 cover for home office equipment.

Different people will have different priorities when it comes to their home insurance provider. Of course, price will feature pretty highly, but you’ll also want a policy that provides a mix of coverage that’s right for you. Below is a rundown of the winners from the Exceptional Value and Exceptional Quality categories.

Exceptional value home insurance winners

Protecting your home against the unexpected doesn’t have to cost a fortune. To help you save, our panel of experts assessed 56 home and contents insurance policies using more than 15,000 customer quotes to determine which ones offer prices that are consistently amongst the lowest. The eight policies that took out awards are listed below.

AAMI Home Building & Contents Insurance
• Budget Direct Home & Contents Insurance
• ING Home & Contents Insurance
• RACT Home & Contents Insurance
• Virgin Money Home & Contents Insurance
• Westpac Essential Care Residential
• Westpac Premium Care Residential
• Woolworths Comprehensive Cover

Exceptional quality home insurance winners

When assessing the quality of a home and contents insurance policy, our panel of judges looked at the level of cover on a wide range of events and items, including accidental loss and damage, protection against underinsurance, and how damaged items are replaced. They judged 62 policies and awarded the six below.

• Bankwest Home & Contents Insurance
• CommInsure Residential Home Package
• NRMA Home Plus Buildings & Contents Insurance
• SGIC Home Plus Buildings & Contents Insurance
• SGIO Home Plus Buildings & Contents Insurance
• Westpac Premier Care Residential

Learn more about the Mozo Experts Choice Home Insurance Awards at our awards page, or have a read of the methodology report for a more in-depth look at how the winners were chosen.

*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 on the provider's website for further information before making any decisions about an insurance product.

Any information provided on this page should be considered a summary and general advice only. All information should be verified before purchase via the relevant Product Disclosure Statement (PDS).

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.