Top value home insurance of 2020

People inspecting a property, considering what they'll need for home insurance.

Attention: The award-winning policies listed here are from 2020. If you're looking for the most recent award winners, read our guide to the best home insurance in Australia, and this detailed list of the best-value home insurance policies as crowned by the Mozo Experts. 

A home is the biggest purchase most Australians will ever make, and making sure it’s insured against worst case scenarios is something everyone should take seriously. But doing so doesn’t have to break your budget.

To help determine which providers offer the best cover for the best price, the team at Mozo analysed 56 home and contents insurance policies using more than 15,000 customer quotes as part of this year’s Mozo Experts Choice Home Insurance Awards^.

Those that stood out were recognised in our Exceptional Value category. We’ve included a rundown of just a few below, but be sure to check out the full list of winners at our Home Insurance Awards page, or read our Mozo Experts Choice Home Insurance methodology report for an in-depth look at how they were chosen.

Always remember, there won't be any one cheapest insurance policy to suit the needs and circumstances of every person. We're highlighting a few options here which our Expert Judges identified as being among the best value for money across a range of different consumer needs. 

Standout home insurance options for 2020

Budget Direct Home & Contents Insurance*
  • Temporary accommodation provided
  • New for old replacement

This year’s Value Insurer of the Year, Budget Direct’s home insurance policies provide cover for a wide range of circumstances, including theft, fire, storms and accidental breakage of glass. Flood cover is also available as an add-on. And if your home has become uninhabitable due to an event covered in your policy, Budget Direct will also provide emergency temporary accommodation.

What’s more, cash is covered up to $800, while computer software and CDs / DVDs are insured for up to $3,000. As for your various valuables, handwoven carpets are insured for up to $2,500 per item, artworks are insured for up to $5,000 per item ($12,000 in total), and jewellery is insured for up to $1,000 per item ($5,000 in total).

Woolworths Standard Cover Home Insurance*
  • Flood cover included
  • New for old replacement
  • Temporary accommodation provided
Find out more

The list of events Woolworths building and contents insurance covers runs quite long, and includes fire, theft, water damage and storms. If you live in a flood-prone area, you’ll be glad to know that flood cover comes included in the policy and doesn’t have to be purchased separately. 

CDs and DVDs, handwoven carpets, jewellery and antiques are insured up to $1,000 per item ($2,500 per item category) and home office content is covered up to $5,000. You’ll also receive legal liability cover up to $20,000,000.

There’s also the new for old replacement of lost or damaged belongings, meaning that even if a particular item was on its last legs, Woolworths will make sure you get a brand new one. And if your property is damaged and you require temporary accommodation, Woolworths will cover the cost for up to 12 months (up to 10% of sum insured).

* 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