Our team of home insurance experts gathered a bunch of quotes from over 40 different home insurance providers. We gathered quotes for NSW, VIC, QLD, SA and WA. To show you how hugely costs can vary, we've included the annual quotes from 10 popular providers.
As you can see, the quote differs greatly state to state. This is because location plays a huge part in what your premium will cost.
Keep in mind, these can be used as a guide only. Your own quote will differ based on your location, your home and your own personal history.
| Provider | NSW | VIC | QLD | SA | WA |
|---|---|---|---|---|---|
| AAMI | $1,225 | $1,138 | $1,120 | $941 | $1,206 |
| QBE | $2,743 | $1,353 | $2,354 | $1,120 | $1,901 |
| Budget Direct | $1,696 | $1,012 | $1,186 | $882 | $1,431 |
| NRMA | $1,939 | N/A | $2,221 | N/A | N/A |
| Honey Insurance | $2,657 | $1,762 | $2,190 | $1,266 | $1,744 |
| ahm | $3,332 | $2,250 | $3,009 | $2,133 | $2,697 |
| Youi | $3,048 | $1,606 | $2,584 | $1,398 | $1,997 |
| IMB | $2,315 | $2,029 | $2,118 | $1,674 | $2,393 |
| National Seniors | $2,619 | $2,282 | $2,433 | $1,689 | $2,464 |
| Bupa | $3,714 | $2,507 | $3,333 | $2,378 | $2,980 |
To learn more about how our quotes were collected, you can read our Finder home insurance methodology.
Sadly, yes. In 2023, Finder research indicated that the average cost of a home insurance policy was around $1,700. In 2024, our research suggests that the average cost is now around $2,000. That's a 17.65% increase in just one year.
That data lines up with other reporting - the AFR reports the annual price rise of home insurance is currently 16.5%, which is the highest we've seen in 3 decades, other than after the introduction of the GST. Inflation, the cost of reinsurance and the changing climate all have a part to play.
"Yes, home insurance premiums are going up. It's normal for a policy to increase year on year but homeowners are noticing this price hike is a bit more extreme. Home insurance costs are seeing a steep rise due to things like inflation and global warming. Think about all the natural disasters Australia has been hit with in recent years; floods, bushfires, extreme winds and storms. Every time something like this happens, there's a string of home insurance claims that are made. This all plays a factor in how much home insurance costs in future."
The price hike is somewhat inevitable but the good news is, there are still ways to save. Contrary to popular belief, you don't just have to pay whatever amount your insurer quotes you at renewal time.
"When buying my first home, i knew home insurance was a must, but had no idea how the costs worked. I quickly worked out that my policy premium was really impacted by two major things - the location and the'sum insured'. I used the Insurance Council building calculator to work out exactly how much it would cost to re-build my home. Turns out, i'd over insured in the first year, so reduced my policy by $50,000 coverage which knocked $200 off my annual bill."
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Hi May i have an estimate of a $25,000 contents only insurance plus $15,000 jewellery
Regards Gill
Hi Gill,
We’re a comparison site so we don’t offer insurance directly, but you can enter your details and compare your options here:
https://www.finder.com.au/home-insurance/home-and-contents-insurance
Hope this helps!