You can get 3 different policy types. Commbank offers building insurance, contents insurance and a combined home and contents insurance policy. To add to that, Commbank also offers landlord insurance.
Some main events covered by Commbank home insurance include:
Commbank home insurance is backed by Hollard Insurance. It offers customers the choice to pay more than the standard excess amount (which differs depending on the state you live in) and has a standard cooling off period of 21 days.
CommBank received the following awards in the 2024 Customer Satisfaction Awards:
These are some standard features that you can claim if an insured event causes damage or loss.
Commbank home insurance comes with few optional extras compared to other insurers such as Budget Direct, Virgin and Qantas.
All home insurance policies will have general exclusions. Here are some things you won't be covered for with Commbank.
Make sure you read Commbank' PDS for a more detailed breakdown of what's not covered. You can also head to general exclusions for more information.
Important to know. The complaints data below relates to home insurance policies that, at the time, were backed by Commbank's previous underwriter – Commonwealth Insurance Limited. Commbank home insurance policies are no longer underwritten by Commonwealth Insurance Limited. Today, Commbank is underwritten by Hollard Insurance Partners Limited.
We looked at home insurance complaints data from the Australian Financial Complaints Authority (AFCA) between July 2020 and June 2021. 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 Commbank did:
Commbank home insurance is a good overall home insurer compared to other policies on the market. It comes with plenty of benefits included as standard and an additional 25% on top of your sum insured building and contents when it isn't enough to cover your loss. However, you can get bigger discounts elsewhere.
If you're not ready to take out a policy, you can compare other home insurance brands side-by-side here.
If you've held, or currently hold, a Commonwealth Bank home insurance policy, we'd love to hear from you. Your reviews help other Australians decide if Commonwealth Bank is right for them. Some reviews are from a survey commissioned by Finder.
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