How Much Does Home Insurance Cost in Australia?
Average Cost of Home Insurance
The cost of home insurance in Australia depends on several factors including:
- Location
- Property value
- Construction type
- Coverage level
Premiums can range from several hundred to several thousand dollars per year depending on the property and coverage selected.
You can easily compare home insurance quotes to find the best deal.
What Affects the Cost of Home Insurance?
Location
Properties located in areas prone to flooding, bushfires, or storms may have higher premiums.
Property Value
Higher property values generally require higher coverage limits.
Excess Amount
A higher excess can reduce the cost of your premium.
Ways to Reduce Your Premium
- Increase your excess
- Install security systems
- Bundle policies
- Compare insurers annually