Compare building, contents and combined cover from Australia's leading insurers — plus straightforward guides on bushfire, flood, landlord and strata cover.
Canstar's 2026 Home & Contents Insurance Awards went to six national insurers: AAMI, Allianz, Budget Direct, QBE, Suncorp and Westpac. AAMI and QBE lead on all-round value across home, contents and combined cover; Budget Direct is consistently one of the cheapest combined policies on the market; and QBE stands out for its higher default sum-insured buffers, which help protect against underinsurance after a total loss.
The national average for combined home and contents cover is $2,970 a year, but the range across states is enormous — driven mostly by weather risk, not property values. The Northern Territory ($5,340) and North Queensland ($4,886) sit far above average due to cyclone exposure, while South Australia ($2,061) and Victoria ($2,425) are among the cheapest. Premiums rose about 5.4% nationally in 2026, and switching from a higher-priced to a lower-priced policy could save up to $865 a year at the national average.
Home insurance pricing differs enormously across Australia depending on bushfire, flood and cyclone exposure — see our dedicated guides for NSW, Victoria, Queensland, North Queensland, South Australia, Western Australia, Tasmania and the Northern Territory for the cheapest local insurers and average costs in each.
Owner-occupier, renter, landlord or unit owner — the right policy is different for each
Everything you need to make a confident decision
*Potential savings based on Canstar 2026 research comparing higher-priced and lower-priced policies at the national average sum insured. Individual results vary.