It comes with a "Build it back better" benefit. If your house is damaged by an insured event, Suncorp will help you rebuild by using materials that are more resilient to natural hazards.
Flood cover comes standard on all policies. Many other home insurers will charge extra for this.
Although flood cover is included, it's worth noting that there are exclusions such as storm surge.
Sorry! We currently don't have this brand on our panel. But don't fret, you can head to the Suncorp home insurance website or compare a bunch of other home insurance companies with Finder.
You can get 3 different policy types. Suncorp offers contents insurance, building insurance, and a combined home and contents insurance policy. You can also get Suncorp landlord insurance, strata insurance and renters insurance.
Some main events covered by Suncorp home insurance include:
These are some of the standard features that you can claim on with Suncorp if an insured event causes damage or loss.
Accidental damage at the home
Temporary accommodation costs
Storage of undamaged contents
Removal of debris
Contents in transit
Mortgage discharge costs
Optional add-ons
Suncorp home insurance only offers a few optional add-ons compared to many other insurers such as ING, Budget Direct and Virgin. These include:
Accidental damage
Motor burnout
Portable contents cover
Domestic workers' compensation
Exclusions
All home insurance policies will have general exclusions. These are some things you won't be covered for with Suncorp. For the full list, check out its Product Disclosure Statement (PDS).
Coal seam gas
Lawful seizure
Wear and tear
Inherent defects
Soil movement
Actions or movement of the sea
Extensions, renovations or alterations to your home
Bushfires, storms, floods or tsunamis in the first 72 hours of cover
Consequential loss of any kind
You can also head to general exclusions for more information about what home insurance won't cover.
Here's some information on Suncorp home insurance complaints
We looked at home insurance complaint 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 Suncorp (AAI Limited) did:
AAI Limited resolved 26.38% of its complaints directly with customers.
While it is considered a very large insurer, AAI Limited did receive the most complaints of all the insurers we reviewed.
Bottom line about Suncorp home insurance
Suncorp's home insurance could be good if you live in a disaster prone area of Australia, both because of its "Build it back better"' benefit and automatic flood cover. It also comes with a 6% seniors discount for Queenslanders.
Suncorp home insurance aims to make its claims process as easy and straightforward as possible. Claims can be lodged online or by phoning the Suncorp home insurance claims department on 13 25 24, available 24 hours a day, any day of the year. Once your claim has been approved, Suncorp can arrange the prompt repair or replacement of your home or contents.
When you make a claim, Suncorp will ask you to provide proof of purchase or evidence of value, such as a receipt or user manual. You'll also need to provide a full description of every item for which you are making a claim.
According to Suncorp's Target Market Determination (TMD) document, this product is suitable for:
Those who own and live in their homes for domestic purposes.
Those who want to insure their contents (used for domestic purposes) at a permanent residence, this can be for homeowners and renters.
Those who have a home that meets underwriting criteria like having an acceptable building type, living in an acceptable postcode, and that your home is maintained.
Those who own a home and lease out part of their residence under a rental agreement and wish to have some cover as a landlord. There is limited cover if the entire property is being leased as a short term rental.
Coverage for carpets is included in the contents section of a Suncorp home insurance policy, not the building cover section.
This means that if your home is damaged beyond repair, or if your belongings are stolen or damaged beyond repair, Suncorp will rebuild or replace on a new for old basis. It doesn't even matter how old your home or your possessions may be.
$20 million of cover is included in this policy to protect you when you are legally liable to pay compensation for causing someone else's death or injury, or for causing damage to someone else's property.
Suncorp offers multiple premium payment options, including online, over the phone, BPAY, by the month, or in person at a Suncorp branch.
If you've held, or currently hold, a Suncorp home insurance policy, we'd love to hear from you. Your reviews help other Australians decide if Suncorp is right for them. Some reviews are from a survey commissioned by Finder.
Gary Ross Hunter was an editor at Finder, specialising in insurance. He’s been writing about life, travel, home, car, pet and health insurance for over 6 years and regularly appears as an insurance expert in publications including The Sydney Morning Herald, The Guardian and news.com.au. Gary holds a Kaplan Tier 2 General Advice General Insurance certification which meets the requirements of ASIC Regulatory Guide 146 (RG146). See full bio
Gary Ross's expertise
Gary Ross has written 648 Finder guides across topics including:
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which insurance co is best for comprehensive home and content if home is in a flash zone risk of fire.
Hi Ann, you can compare comprehensive policies in our main guide to home insurance. We also have a detailed guide to bushfire insurance. Hope this helps.