Average Cost Of Home Insurance Australia

The average cost of home insurance Australia values factors such as your home’s location, when it was built, and the value of its contents. Over 200 quotes from 16 different Australian insurers were gathered to determine the average home insurance costs from state to state for a building worth $500,000 and contents worth $100,000.

If you live in New South Wales, you can expect to pay slightly more than in other states. South Australia had the lowest average cost for a home and contents policy.

According to these findings, the average cost of home insurance Australia was approximately $142.92 per month. You can use this as a guide when comparing home insurance policies, but keep in mind that costs will vary depending on your specific situation.


The following factors can be used to calculate the cost of a home insurance Australia policy.

  • The type of cover you desire. Home and contents, building-only, or contents insurance are all options.
  • If you purchase additional coverage. As an example, consider portable contents insurance or accidental damage.
  • Your house’s location. You may have to pay more if you live in a bushfire, flood, or cyclone-prone area.
  • The characteristics of your home. The type of roof tiles you have and whether you have an alarm system installed can affect the cost of your policy.
  • A history of claims. If you have a good claims history, you can avoid an increase in your premium.



Here are some common things that people do to reduce the average cost of home insurance Australia.

  • Assuming coverage exists. People frequently believe that purchasing an insurance policy automatically covers them for everything. Read your product disclosure statement (PDS) to ensure you understand what is and is not covered.
  • Choosing the incorrect amount of insurance. A common mistake that homeowners make is under-insuring their home and contents in order to save money on their insurance policy. You put thousands of dollars at risk just to save a few hundred dollars on home insurance. To avoid under-insurance, you can have your home valued by an evaluator or use an online calculator.
  • Not weighing your options. Examining home insurance is not the most pleasurable task, but if done correctly, it can save you thousands of dollars. Read and comprehend your PDS, and if you have any questions, contact the insurer directly.


There are a few simple things you can do to lower the average cost of home insurance Australia, such as:

  • Don’t be afraid to switch. Unfortunately, these days, loyalty does not get us very far. If you discover that you are paying too much for home insurance, don’t be afraid to switch to someone who will give you a better deal.
  • Purchase multiple policies. You may be eligible for a multi-policy discount if you have multiple policies with the same insurer, such as home insurance, car insurance, and other types of coverage.
  • Protect your home. You can enjoy lower premiums if you implement measures to deter burglars and thieves, such as installing security screens on all doors or purchasing a back-to-base security alarm.
  • Select a higher excess. Lower premiums will result from increasing your excess amount.
  • Look for bargains and discounts. Some insurers provide premium discounts if you purchase online or if you are a senior.
  • Combine the cover. Premiums can usually be reduced by combining building insurance and contents insurance into a single home and contents policy..

Remember that the average cost of home insurance Australia is going to be determined by your home and the value of your belongings, so get a quote and compare your options before making a decision.

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