Budget Direct is one of Australia's biggest insurance brands, underwritten by Auto & General Insurance. An award winning insurer who took home the the highly commended award for 'Home Insurance - Value' in the 2024 Product Awards. Customers can choose from Home Insurance, Contents Insurance, Home & Contents Insurance and Landlord Insurance.
Review by our insurance and innovations editor Gary Ross Hunter.
30% online discount on new home and contents insurance
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.
We currently don't have a partnership for that product, but we have other similar offers to choose from (how we picked these ):
Budget Direct received the following awards in the 2024 Product Awards and 2024 Customer Satisfaction Awards:
Budget Direct offers 3 home insurance policies: home and contents insurance, home insurance and contents insurance. It also has landlord insurance.
Home Insurance
Budget Direct Home Insurance is designed to protect your most important and valuable asset. This policy protects your building against fire, explosion, theft, malicious damage and many more risks. The sum insured amount is adjusted at every renewal and Budget Direct Home Insurance offers a 24-hour online claims notification system.
Contents Insurance
If you want to protect your treasured possessions and valuables, Budget Direct Contents Insurance can help. It covers your belongings against loss or damage caused by fire, explosion, theft, storm, impact and many more. The sum insured is automatically updated each time you renew your policy.
Home & Contents Insurance
If you combine Budget Direct Home Insurance with Contents Insurance and purchase a policy online, you can enjoy a discount of 30%. This means you can protect your home and your most valued belongings against everything from fire and theft to storm and explosion damage, while available options include flood, accidental damage cover, personal effects cover and motor burnout cover.
Landlord Insurance
If fire, theft or storm damage a property your Budget Direct Landlord Covers can offer the financial protection you need. It also covers loss of rent if your home is not fit to live in following an insured event, plus optional extras include tenant default cover and protection against theft and malicious damage by tenants.
Here are some other main insured events that a Budget Direct home insurance policy covers.
It's underwritten by Auto & General Insurance Company Limited. Like with most insurers, you'll need to pay an excess when you make a claim. Policies come with a cooling-off period of 21 days, which is the industry standard. This means if you want to cancel within the first 3 weeks of taking out a policy, you will be refunded in full as long as you haven't made a claim.
If you want more information on what's covered, you can see Budget Direct's product discloure statement (PDS) or check out our guide on general insured events.
"I was offered compulsory home insurance when I signed up for my home loan with my bank. I didn't realise, however, that I could use any company. I reached out to Budget Direct, and they cost about half as much as my bank. Four years later, I haven't looked back."
We highlighted some benefits that Budget Direct will cover after it has agreed to pay out a claim from an insured event. For example, if a theft (insured event) happens at your home, you could claim the expense of replacing your locks (feature).
Looking for a more tailored policy? Budget Direct offers the following optional add-ons for an extra fee.
Here are some of the main exclusions from a Budget Direct home insurance policy. This means you won't be covered for any damages, repairs or legal liability that could arise.
A number of factors can influence the cost of your Budget Direct Home Insurance premium, including:
In the insurance world, an excess is the amount you have to pay to contribute towards the cost of a claim. Depending on the cover you have in place, one or more excesses may apply to your Budget Direct Home Insurance policy. For example, you may have selected a higher excess in order to reduce your premium. In any case, the excesses that apply to your individual policy will be listed on your certificate of insurance.
There's a few ways you can save on your Budget Direct premium.
We looked at home insurance complaint data from the Australian Financial Complaints Authority (AFCA) between July 2022 and June 2023. The data breaks down different underwriters and compares their business size to the number of complaints processed.
When comparing insurers, keep in mind that insurers with a larger market share serve more customers, so can potentially get more complaints.
Here's an overview of how Budget Direct (Auto & General) did:
When comparing insurers, keep in mind that insurers with a larger market share serve more customers and potentially get more complaints.
Budget Direct is one of Australia's most popular home insurers for a reason – it's one of the cheaper providers around. However, if you want cover for floods or accidental damage, you'll need to pay extra.
To compare Budget Direct's home insurance policies side-by-side with other providers, you can head here.
If you've held, or currently hold, a Budget Direct home insurance policy, we'd love to hear from you. Your reviews help other Australians decide if Budget Direct is right for them. Some reviews are from a survey commissioned by Finder.
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Shed insurance can cover sheds of all shapes and sizes, as well as their often-valuable contents.
Cancelling your home insurance is actually quite simple and you can do it at any time.
Will home insurance cover foundation repair? Find out here.
Learn about the unique risks that Western Australia faces and how to get home insurance that is right for your circumstances.
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.
Find out what renter's insurance is, what it covers and how to find the right policy for your needs.
Follow these steps to find affordable home insurance that won't leave you stranded.
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.
Compare home and contents insurance - our research shows you can save up to $1,653 by switching.
My home and contents insurance will expire on 08/12/24. But I did not receive a letter to pay for next year.
My Direct Budget policy number is 119143809.
Hi Van,
You may have received your renewal as an email that has accidentally been directed to spam, or sent to an email address you no longer use. You should contact Budget Direct directly on 1800 069 336 as soon as possible to ensure your policy is still valid and to check the renewal price. If it’s too high, you can always shop around and compare for a cheaper deal.
Hope this helps!
I property is up for sale and is not occupied. I will like to insure it for a Month till it is sold.
Hi Deland,
Your best bet is to click on the button that says “GET DEAL” or “GET A QUOTE” and arrange a policy. You can then cancel the insurance policy on the day of settlement.
I would like to know if you offer third-party injury insurance for untenanted properties, e.g. for work by tradespeople and during home opens.
Hi Julie,
Construction insurance can offer protection that includes legal liability for workers in your home. It can be arranged pre-project or taken out as an annual policy. Here are more details.
You may want to speak to an insurer directly to confirm they’ll cover open home visits. If they won’t, you may need to find specialist cover.
Regards,
James
Is accidental damage caused by flooding covered? ( Such as from forgetting bath taps on)?
Hi Anna,
Thanks for contacting Finder.
No, Flood is not included on any of Budget Direct’s policies but you may have it added as it is one of their optional benefit. Also, each of their policy has an ‘Escape of liquid’ which will cover the damages caused by burst or leaking water pipes and overflowing sinks, basins, baths and appliances.
I hope this helps.
Cheers,
Ash
Do you offer renters insurance for a situation where I share my house with tenants?
Hi Louise,
Thank you for getting in touch with Finder.
Insurers like Budget Direct offer renter’s insurance for shared accommodation.
You may see other brands that offer this type of home insurance from the link above. You can press the “Get a quote” button to compare quotes from different insurers.
I hope this helps.
Please feel free to reach out to us if you have any other enquiries.
Thank you and have a wonderful day!
Cheers,
Jeni