GUIDES & RESOURCES

Home and Contents Insurance NSW

New South Wales is vulnerable to weather events such as flooding, bushfires, and storms. Learn more about finding great value Home and Contents Insurance in NSW.
home & contents western australia

*iSelect does not compare to all home and contents insurers in the market. The availability of policies may change from time to time. Not all policies made available from iSelect’s providers are compared by iSelect and due to commercial arrangements, area or availability, not all policies compared by iSelect will be available to all customers. See below for our range of home and contents insurers. Some policies are only available from iSelect’s call centre or online. Our advice on this website is of general nature and does not consider your situation or needs. Consider if any advice is appropriate for you before acting on it.  Learn more.

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What’s the average Home and Contents Insurance premium in NSW?

Living in a state that’s the most populated in Australia, and arguably the most recognised worldwide, shows that NSW is a popular place to live.2 Yet, whether you live in Sydney or regional New South Wales, with natural hazards such as floods and bushfires, as a homeowner you may want to consider how to protect your home from extreme weather events. 2.

What are the benefits of Home and Contents Insurance?

Unfortunately, living in NSW doesn’t always mean mild weather and blue skies… When searching for a suitable policy, it may be important to consider where you live and the associated risks.

For example, in recent years, NSW has been battered by the devastating Eastern Australian Floods in 2021, the Black Summer bushfires in 2019-2020, as well as several damaging storms.1 Because of these kinds of extreme weather events, it makes sense that New South Wales homeowners and renters might want to consider a level of Home and Contents Insurance that not only protects their home and dearest possessions, but can also provide peace of mind.

What are the risks to your home and contents in New South Wales?

With the possibility of bushfires, flooding, and storms there are a variety of concerns to potentially consider when living in NSW. That said, it’s important to note that NSW is a highly populated state, with its population spread throughout both Sydney and in regional areas. As a NSW resident, the risks to your property can change based on where you live.

Sydney Home and Contents Risks:

Large portions of Sydney are built on floodplains which can result in a higher chance of flooding.4 With the increasing property development in high-risk areas, floodplains pose a threat to more and more Sydney homes.4

NSW Home and Contents Risks:

NSW has had a tough 2 years. In 2020 they suffered through the Black Summer bushfires which resulted in 2,448 homes being destroyed. 5 18 months following this catastrophic event, the Eastern Australian Floods forced 18,000 people to evacuate their homes. 6 As a result of these devastating events, homeowners and renters in New South Wales may consider these factors when choosing their Home and Contents Insurance.

What does Home & Contents cover in NSW?

Now, we know what you’re thinking, Home and Contents Insurance sounds very beneficial… but I don’t really get exactly what it is? And what the difference is between Home and Contents Insurance, Home Insurance, and Contents Insurance?

Home and Contents Insurance combines the features of both Home Insurance and Contents Insurance into a single policy.

This type of coverage may help homeowners to:
• Rebuild or repair their home and/or
• Replace the contents inside that property as a result of an insured event such as storms, lightning, fire and vandalism.*

What does Home Insurance in NSW cover?

Home Insurance (sometimes referred to as house insurance or building insurance) generally helps cover the cost of repairing or rebuilding the physical structure of your property.

This can include:
• Brick and mortar rebuild or repairs.
• Structural repairs such as roofs, sheds, and garages on the insured property.

Insurance for your house protects your home from damage that is out of your control and may protect your home in the event of natural disasters such as storms, lightning, bushfires, and floods.*

What does Contents Insurance cover?

The Contents Insurance portion of the combined covers possessions within the home (building), as opposed to the actual building itself.

Possessions could include but are not limited to:

Jewellery
• Clothes
• Whitegoods, electronics, and appliances
• Furniture

These possessions are often covered from a range of natural disasters, but can also be covered from theft, accidental damage, and electrical surges (note: some policies may require you to elect these options and it may come at an added cost).

It’s important to review the insurers Product Disclosure Statement to understand exactly what’s covered and what’s excluded.
Check out the link here to find out more about contents insurance.

What factors can affect the cost of Home and Contents Insurance in NSW

The cost of Home and Contents Insurance can depend on many factors, such as your chosen level of cover, your claims history, whether you're just covering home, contents, or both, and the area that you live in.

In New South Wales, your Home and Contents Insurance can differ in cost depending on the market value of your home and the value of your possessions. There are many variables considered when calculating your premium, and this could also impact your cost. These variables can include your age, the materials used to build your home, how the home is used and of course, the location.

In short, if you live in an area that’s regularly exposed to extreme weather events, then you could pay a higher premium. But as we mentioned, a range of factors are taken into account, which is why it’s important to compare policies from a range of insurers.

NSW, have you considered Landlord Insurance?

Now, that you’re a wiz on Home and Contents Insurance it may be time to throw Landlord Insurance into the mix too! We all realise how we can protect our own valuables when they’re in close proximity... but what about when it’s being used (or lived in) by someone else!? Landlord Insurance could cover you from a range of events (click here to find out more) and give you some more peace of mind.

How to compare Home & Contents Insurance in New South Wales

Research, research, research!
Comparing policies and providers is one of the best ways of ensuring you find a great deal on your Home and Contents Insurance. Comparing policy features, including optional extras, as well as limitations, exclusions, and price gives you the confidence that you’re making an informed decision.
Some factors you could consider when comparing are:
• How much it would cost to repair or re-build your home in the event of a fire or storm
• What the total value of your home contents adds up to

To find your homes Home and Contents Insurance match start by comparing from a range of policies and providers with iSelect.

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