Great Southern Bank Home Insurance review

Great Southern Bank offers a good range of benefits but it lacks underinsurance cover and premiums are quite expensive.

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Great Southern Bank Home Insurance

Our verdict

Pros

  • You can opt out of flood cover if your home isn't at risk and save on your premium.
  • Save 10% on your premium if you buy online.
  • If you're in ACT, TAS or WA, you can add domestic workers' compensation to your policy.

Cons

  • Our cost research indicates Great Southern Bank is more expensive than average.
  • There's no underinsurance protection but some brands offer up to 20%.
  • Great Southern Bank doesn't have the best customer review rating.

Features

Great Southern Bank offers a wide range of benefits, some of which go beyond the typical home insurance policy. For example, customers in WA, ACT or TAS can add domestic workers' compensation to their policy. Plus, environmental upgrades, building code compliance costs and professional fees are included as standard. However, Great Southern Bank doesn't offer underinsurance protection, which is offered by most brands.

Provider Finder ScoreFire, Storm & Theft DamageFloodAccidental Damage
Great Southern Bank Logo
N/A
Yes
Yes
Optional
4.5/5
Yes
Optional
Optional
Youi logo
4.5/5
Yes
Yes
Optional
NRMA logo
4/5
Yes
Yes
Yes
AAMI Logo
5/5
Yes
Yes
Optional

Price

Our cost research found that Great Southern Bank had an average premium cost of $3,033, which is 8% higher than the market average. However, this price is highly dependent on your specific situation, including the type, size, and location of your home.

Provider
Average cost
Apply
Great Southern Bank Logo
$3,033.34
$1,784.72
Youi logo
$3,017.43
AAMI Logo
$1,538.56
QBE Logo
$2,194.16

Methodology

Compare Great Southern Bank home insurance policies

Name
Product AUFHO
Building Cover
Contents Cover
Accidental damage
Sum Insured Safeguard
Online Discount
Cheapest way to pay
Great Southern Bank Home & Contents Insurance
Great Southern Bank Home Insurance logo
Optional
Monthly or Annually
Great Southern Bank Building Insurance
Great Southern Bank Home Insurance logo
Optional
Monthly or Annually
Great Southern Bank Contents Insurance
Great Southern Bank Home Insurance logo
Optional
Monthly or Annually
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What additional cover options are available?

Great Southern Bank offers several optional features including:

  • Accidental damage - Cover for accidental unexpected mishaps.
  • Motor burnout - Covers if an electrical current damages your household electrical motors.
  • Domestic workers' compensation - Cover in case a domestic worker, such as a gardener or cleaner, injures themselves while working for you.
  • Portable contents - Cover for portable items that leave the home such as handbags, musical instruments or jewellery.

How to make a claim

If you need to claim on your home insurance policy, start your claim online and Great Southern Bank will be in touch to guide you through the next steps.

To get started, you'll need information about the incident, including the date, what happened, details about the loss or damage, and information about any people, vehicles or property involved.

Great Southern Bank home insurance complaints information

Allianz, the insurer that underwrites Great Southern Bank home insurance, was the subject of 863 complaints about home or content insurance lodged with the Australian Financial Complaints Authority in the first six months of 2024.

Although these figures seem high, Allianz is considered a very large insurer. AAI, another very large insurer received 2,200 for home and contents insurance

FAQs

Nicola Middlemiss's headshot
Journalist

Nicola Middlemiss is a journalist with nearly a decade of experience in personal finance and insurance. She has contributed to Domain, Yahoo Finance, Money Magazine and Insurance Business Australia, offering in-depth insights into commercial insurance in the Australian market. Nicola holds a Bachelor’s degree in English from the University of Leeds and a Tier 1 General Insurance (General Advice) certification, which complies with ASIC standards. See full bio

Nicola's expertise
Nicola has written 241 Finder guides across topics including:
  • Personal finance
  • Personal insurance, including car, health, home, life, pet and travel insurance
  • Commercial business insurance

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