honey home insurance

• Save up to 8% on your premium with the Smart Home program

• Cover for fires, theft, storms, floods, and more

• Opting for monthly repayments doesn’t cost you extra

• Cover for home office equipment up to $20,000.

• No underinsurance protection available

• To get the discount, you must keep your smart home sensors active at all times.

Our verdict

If you want an insurance policy that acts as a prevention, not just a cure for when things go wrong, then Honey’s Home & Contents Insurance policy is one to watch. 

Honey leverages smart technology, in the form of a complimentary smart home sensor kit worth $250, to monitor for fires, water leaks, and theft in your home. Plus, if you use them, you could save up to 8% off your insurance premium as part of its Smart Home Program, as long as your sensors are active.  

You will need a WiFi connection and a smartphone to make full use of the sensors and secure your discount. But in the information age, with the internet at our fingertips and working from anywhere, most people should be able to take advantage of insurtech like this.

Speaking of working from anywhere, one of the standout features of Honey’s home and contents policy is the very generous cover limit they provide for office equipment (including computers and accessories, furniture, and business stock stored in your home) of up to $20,000. This is up to 4 times as much as the industry norm, according to Honey. 

Of course, there is some office equipment that they don’t cover (e.g. custom written software), so make sure you read the Product Disclosure Statement (PDS) to see if this cover ticks the right boxes for you. 

The standard inclusions seen on most home and contents insurance policies are there too, such as cover for fire damage, theft, storm damage, flooding, and temporary accommodation if you can’t live at your home due to one of those events. But, Honey also offers a range of optional extra coverage you can add to your policy, for a fee. 

The additional coverage options you can choose from are for accidental damage, your mobile phone, individual items (i.e. valuables) that go beyond the cover limits of the standard policy, extra cover if you run a small business from your home office, and portable item cover if you travel with them anywhere in Australia or New Zealand.

You also have the option to pay your insurance premium monthly, instead of annually, which is useful for those who run a budget or get paid monthly.