Its policies automatically covers floods – many other insurers we looked at do not.
Bendigo Bank is good for flexible options. Its one of the few insurers to let you choose the level of cover that you want: gold, silver or bronze.
Cons
If you're already a Bendigo Bank customer, it may be a convenient option but you won't necessarily be entitled to any benefits or discounts for your loyalty.
Sorry! We currently don't have this brand on our panel. But don't fret, you can head to the Bendigo Bank home insurance website or compare a bunch of other home insurance companies with Finder.
Each month, we get crunching on most every home insurance product in Australia to see how they stack up. We rank over 50 products on 16 different features, including price. We end up with a single score out of 10 that helps you compare home insurance a bit faster.
Bendigo Bank home insurance is backed by Insurance Australia Limited, one of the biggest insurance companies in Australia. It comes with a 21-day cooling-off period which is standard among most insurers. This allows you to cancel your policy and receive a refund as long as you haven't made any claims.
Here's the run-down of a Bendigo Bank home insurance policy
Gold level offers the most cover and highest level of protection. It includes:
Cover for your building and contents against almost any type of accidental loss or damage
Up to $20,000 for each personal item including fine art and paintings, unless specified as a special contents item
New for old replacement, such as for furniture or electronics
Alternative accommodation expenses
Burglary without forcible entry
Debris removal and architect fees in addition to your sum insured
Contents both at home and anywhere in Australia or New Zealand (for up to 90 days if in New Zealand)
Silver offers a mid-level insurance for both your home and contents. It includes:
Events such as fire, explosion, earthquake, malicious damage, cyclone, storm and impacts
Burglary or theft, even if it is located in your yard
Debris removal costs in addition to your sum insured
Alternative accommodation expenses
New for old replacement
Wheelchairs for up to $20,000 unless specified
Burglary without forcible entry
Protection for your contents away from home, either in transit or in a commercial storage facility
Timber fences and gates (up to 15 years old) replacement
Fine art and paintings up to $20,000 limit unless specified as special contents item
Bronze is the most basic level of cover offered by Bendigo Bank. It includes:
Burglary (forcible and violent entry only), fire, storm, rainwater, liquid or wind damage, flood and deliberate or unintentional harm
Wheelchairs at home are covered as contents up to $20,000 unless specified
Fine art and paintings up to $20,000 unless specified as special contents items
Exclusions
Your Bendigo Bank home insurance claim will not be paid if:
Any incident that does not occur within your period of insurance
Landslide or subsidence, unless agreed to cover the incident
War or warlike activity
Hostilities, rebellion, insurrection or revolution
Contamination by chemical and/or biological agents, which results from an act of terrorism
Lawful destruction or confiscation of your property
Anything nuclear or radioactive
Mildew, atmospheric or climatic conditions
Damage to a heating element – however, any loss or damage as a result of damage to a heating element will be covered
Certain computer malfunctions
Deliberate or intentional acts by you, or anyone acting for you, to cause loss, damage or injury
Storm surge
Erosion, the action of the sea, tidal wave or high water, unless the loss or damage is the result of a tsunami
Make sure you go over Bendigo Bank's PDS for a full list of exclusions. Find out more about general exclusions here.
Some information on Bendigo Bank home insurance complaints
We reviewed some of the latest complaints data from the Australian Financial Complaints Authority (AFCA) between July 2022 and June 2023. This data looks at how different underwriters respond to and resolve complaints.
Since Bendigo Bank home insurance is underwritten by Insurance Australia Limited, we'll be comparing Insurance Australia Limited against other underwriters in the market.
Here are some things we noticed about Bendigo Bank home insurance and Insurance Australia Limited.
Insurance Australia Limited was able to resolve a higher percentage of claims directly with its customers compared to other very large insurers.
It had a a higher percentage of complaints compared to some other similarly sized insurers such as QBE and Allianz.
The bottom line about Bendigo Bank
Bendigo Bank home insurance could be ideal if you're looking for a very comprehensive policy (gold) or a more basic and affordable option (bronze or silver). It's issued by Insurance Australia Limited who is a fairly popular insurer. However, you might want to look elsewhere if you want bigger a sign-up discount.
Before you make a claim, ensure you have all your insurance information and documents ready. You will need:
Contact details of other parties involved
Letters, notices or court documents relating to the incident
Incident report numbers for claims relating to theft or malicious acts
You should make your claim as soon as possible as delays may reduce the amount you can be paid. To make a claim, you must call Bendigo Bank's insurer, CGU, at 13 24 80. To process your claim, you will need to provide proof of ownership to the insurer. They may also need to inspect your building or contents.
Here are the key eligibility criteria for a Bendigo Bank home insurance policy:
The type of home you own or live in as a tenant. It must be a freestanding house, townhouse, villa or duplex, semi-detached house or terrace. Registered body corporate buildings and houseboats are not eligible.
How you use the home you own. It must be your primary residence or holiday home. It's not suitable if your home is a business, such as a hotel or bed and breakfast.
The condition of your home. The home needs to meet acceptable dwelling criteria. For instance, it must be secure, watertight, structurally sound and well-maintained. It's not suitable for homes under initial construction or renovations that cost more than specified in the PDS.
If you've held or currently hold a Bendigo Bank home insurance policy, we'd love to hear from you. Your reviews help other Australians decide if Bendigo Bank is right for them. Some reviews are from a survey commissioned by Finder.
Gary Ross Hunter was an editor at Finder, specialising in insurance. He’s been writing about life, travel, home, car, pet and health insurance for over 6 years and regularly appears as an insurance expert in publications including The Sydney Morning Herald, The Guardian and news.com.au. Gary holds a Kaplan Tier 2 General Advice General Insurance certification which meets the requirements of ASIC Regulatory Guide 146 (RG146). See full bio
Gary Ross's expertise
Gary Ross has written 644 Finder guides across topics including:
Motor burnout covers those big appliances in your home in the event that they let you down. This article will show you what it is, why it's important and how much it can cost you.
What you need to know about finding the best home insurance for you. Compare policies and learn what questions to ask when researching insurance policies.
How likely would you be to recommend Finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Important information about this website
Finder makes money from featured partners, but editorial opinions are our own.
Finder is one of Australia's leading comparison websites. We are committed to our readers and stand by our editorial principles.
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labeling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
We make money by featuring products on our site. Compensation received from the providers featured on our site can influence which products we write about as well as where and how products appear on our page, but the order or placement of these products does not influence our assessment or opinions of them, nor is it an endorsement or recommendation for them.
Products marked as 'Top Pick', 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
Please read our website terms of use and privacy policy for more information about our services and our approach to privacy.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.