Honey home insurance review

Honey home insurance offers mid-priced coverage at a good range of benefits. It also gives smart sensors to customers, to help minimise risk.

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Our verdict

Pros

  • Honey's home sensors help detect fire, water, damage and theft to minimise risk
  • Up to $20,000 covered for your home office. We couldn't find a brand that offered more
  • Honey home insurance is around 8% cheaper than the national average, according to Finder research

Cons

  • Only $500 of guest contents is covered. Some brands cover up to $5,000
  • There's no cover to allow for environmental upgrades when replacing items
  • You'll have to pay extra to get cover for electrical burnout

Honey differs from many home insurance brands as it offers customers three smart home sensors, to detect and minimise the risk of fire, water, damage, and theft. Its policies are cheaper than the national average and have competitive benefit limits.

Features

Product AUFHO Building Cover Contents Cover Fire, Storm & Theft Damage Sum Insured Safeguard Online Discount Cheapest way to pay
Monthly or Annually
Our verdict: Honey gives you $250 smart sensors to reduce accidents and estimates your rebuild costs for you. Honey was a finalist for the comprehensive category in this year’s Finder Awards.
Budget Direct Home & Contents Insurance
Best Rated BrandBonusFinder Award Finalist
Budget Direct Home Insurance logo
Optional
Annually
Our verdict: The most popular insurer on Finder, Budget Direct prioritises low-cost cover and gives you up to 30% off your first year's premium for new combined Home & Contents policies purchased online.
Optional
Annually
Annually
Monthly or Annually
Our verdict: Strong customer service record and pay monthly at no extra cost. You also get up to $5k for environmentally friendly upgrades if your home is destroyed.
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Price

As part of our 2024 awards, our insurance experts researched 45 home insurance brands and got over 400 quotes. This research showed the average cost of home insurance is $2,044, Honey was cheaper than average at $1,924. There are cheaper home insurance policies available including AAMI, QBE & Budget Direct, but keep in mind that the best home insurance for you may depend on more than just price.

Remember, your quote may look different as pricing is highly dependent on specific situations.

ProviderAverage costApply
Honey$1,923.90
Budget Direct Logo$1,241.44
AAMI Logo$1,125.97
NRMA logo$831.86

Methodology

Compare Honey's home insurance policies?

Product AUFHO Building Cover Contents Cover Fire, Storm & Theft Damage Sum Insured Safeguard Online Discount Cheapest way to pay
Monthly or Annually
Our verdict: Honey gives you $250 smart sensors to reduce accidents and estimates your rebuild costs for you. Honey was a finalist for the comprehensive category in this year’s Finder Awards.
Monthly or Annually
Our verdict: Honey gives you $250 smart sensors to reduce accidents and estimates your rebuild costs for you. Honey was a finalist for the comprehensive category in this year’s Finder Awards.
Monthly or Annually
Our verdict: Honey gives you $250 smart sensors to reduce accidents and estimates the value of your contents. It was also a finalist for the comprehensive category in the Finder Awards.
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Deal

Receive $250 worth of smart sensors with Honey Home Insurance

Get free smart sensors (valued at $250) to install around your home when you sign up for a combined home and contents policy. T&Cs apply.

Finder Awards badge

Congratulations, Honey!

Honey received highly commended award for 'Insurance Innovation' in the 2023 Innovation Awards.

Full list of 2023 winners

What additional cover options are available?

Honey has a good range of additional cover options - more than many other brands. They can include:

  • Accidental damage - Protection if your home or contents are accidentally damaged. For example, spilled wine ruins your favourite rug.
  • Mobile phones - Loss or damage to your mobile phone while in Australia or New Zealand.
  • Individual items - Increase the insured limit of individual items, such as jewellery.
  • Small business - Get covered for loss or damage to equipment or stock associated with your small business.
  • Away from home - Insure specific items while you're out of the house, such as jewellery, cameras, or handbags.
  • Motor burnout - Loss or damage to electric motors or sealed units that are up to 10 years old and is caused by motor burnout.

Honey home insurance claims process

Honey home insurance has an online claims process, managed through its website. You'll need the email you used when buying insurance to start the process. If you're not sure, or need help, you can contact Honey on 137 137.

Honey home insurance complaints information

Honey home insurance is provided by RACQ. In the last financial year, the Australian Financial Complaints Authority (AFCA) received 363 complaints about RACQ's home and contents insurance 93 of those were resolved at registration and referral, 270 progressed to case management and 712 of those were closed at case management.

FAQs

Compare other products from Honey

Nicola Middlemiss's headshot
Senior writer

Nicola Middlemiss is a contributing writer at Finder, with a special interest in personal finance and insurance. Formerly a business and finance journalist, Nicola has written thousands of articles helping Australians better understand insurance and grow their personal wealth. She has contributed to a wide range of publications, including Domain, the Educator, Financy, Fundraising and Philanthropy, Insurance Business, MoneyMag, Mortgage Professional, Yahoo Finance, Your Investment Property, and Wealth Professional. Nicola has a Tier 1 General Insurance (General Advice) certification and a Bachelor's degree from the University of Leeds. See full bio

Nicola's expertise
Nicola has written 239 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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2 Responses

    Default Gravatar
    DonApril 4, 2024

    Hi Gary, I am newly appointed to write with you through First Connect. Questions 1) I understand you can add flood if requested? Correct? 2) Does the client get $250 in FREE sensors? 3) What is your AM Best rating? Have quotes to do now. Thank you, Don Jenson CFS

      AvatarFinder
      SarahJune 27, 2024Finder

      Hi Don,

      We’re a review and comparison site, we’re not affiliated with Honey directly. You can get in touch with them re: your questions on 137 137.

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