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• What’s the average value of home contents in Australia?
• How do I calculate the value of my home contents and possessions?
• How much contents insurance do I need?
• What else should I consider when getting contents insurance?
• Where can I find contents insurance?

Long story short

iSelect customers’ average house contents value is $96,029

Queensland (Qld) recorded the lowest average contents value, while the Australian Capital Territory (ACT) saw the highest.

44% of Aussies don’t regularly update their contents insurance

Reviewing your policy regularly helps ensure any newly purchased valuable items are covered.

To calculate your home contents value, start with a detailed inventory

Create a list of all items, take photos and keep receipts to help assess their worth accurately.

What’s the average value of home contents in Australia?

The average value of home contents is $96,029, based on the values nominated by customers who purchased home insurance through iSelect. Residents in Qld insured their contents for the least, at an average of $83,265, while ACT residents specified the highest average valuations at $106,663.¹Refer to table ‘Average value of home contents’

Note: These figures represent the average indicative value of contents in each specified state and territory nominated by customers who purchased home insurance through iSelect during the period from 1 July 2025 to 30 June 2026. All types of policies with contents cover included (combined home and contents insurance, contents insurance, landlord contents insurance). The Northern Territory is excluded due to insufficient data. Values have been rounded to the nearest dollar.

NSW and ACT were the only regions with average home contents values over $100,000. Vic was closest to the national average at $97,320, while SA customers joined their Qld counterparts at the bottom of the list with an average valuation of $85,616.²Refer to table ‘Average value of home contents’

If you’re looking for a quick way to estimate your own home contents, it helps to factor in things like how big your house is and how many live in it, as well as your suburb and lifestyle.

Of course, there might be nothing average about your home contents, which is why it’s worth assessing the value of your contents rather than using national averages. There’s a real possibility, otherwise, of either underinsuring your items and only discovering that too late or overinsuring them and paying over the odds.

How do I calculate the value of my home contents and possessions?

Calculating the value of your home contents involves taking an inventory of all your possessions and then determining how much it would cost to replace them all. This figure will amount to your sum insured.

You can use online tools, including iSelect’s own contents insurance comparison tool, to get an estimate based on your home’s size, location, number of occupants and your lifestyle.

If you want to start assessing how much your home contents are worth, then check out our step-by-step approach below.

1. Make a list of what’s in every room of your house

Walk through your home and list every single item, both large and small. Don’t forget spaces like the garage, sheds and closets. Include everyday items like clothing, bed linens and kitchen utensils – their combined value adds up quickly. It’s important to also consider the new replacement cost (what it would cost to buy the item brand new today), rather than its resale or depreciated value.

It’s almost like a tour of your own house, which, while fun, can make you complacent. So, be systematic and thorough, and take your time. You may want to note the condition of your contents, whether they’re in good nick or a little worn around the edges. You could also consider having a separate column or note for items of special value. For example, any expensive family heirlooms or pieces of art you see as a growing investment.

2. Take photos of your contents

Taking a photo of the contents of each room in your house can help you make your list, and having photographic evidence of your belongings and valuables could come in handy when it’s time to make a claim. These photos may help to show what the item looked like prior to damage or to simply confirm you had it before it was stolen.

3. Keep receipts safe and organised

Receipts can provide a good starting point when trying to decide how much an item is worth, as they’ll list exactly what you paid for it. You’ll also want to consider the item’s depreciated value. For instance, is a laptop you bought 3 years ago still worth what you paid for it? It’s a good idea to hang onto receipts, which can help with estimating costs if you ever need to claim for an item. Just try not to put them somewhere so safe that you forget where they are!

Quick tip

Our July 2025 survey of over 1,000 Australian adults revealed that 44% of us aren’t regularly reviewing and updating our contents insurance after big ticket purchases. Remember, when renewal time comes around, it can be an opportunity to let your insurance company know if things have changed since you took out the policy. Perhaps you’ve downsized after the kids have flown the nest and Marie Kondo’d away a lot of your contents. Or, you might have finally started that fine art collection you’ve dreamed about for years.

Of course, you don’t have to wait until renewal time; you can get in touch with your insurer anytime.

How much contents insurance do I need?

Aim for enough cover for the contents you want replaced at today’s prices, reducing the risk of being out of pocket. This amount is known as your sum insured and should reflect the estimated total replacement cost of those items.

It’s important to get this valuation correct to ensure that your policy provides sufficient coverage for your contents. Research by The Australia Institute in 2025 found that 19% of Australian households were underinsured for their contents. You could also add extras to your policy for specific items you need covered but can’t be replaced under standard contents insurance cover.

It can be hard to know if you’ve found the sweet spot between being over and underinsured. You might find it helpful to consider what you want your contents to be insured against. For instance, while accidental damage from everyday life or theft may only affect a few different items at any given time, fire or flood could destroy all your belongings in one fell swoop. While it can be tempting to underinsure to avoid higher premiums, this may not turn out to be the best strategy if you need to claim on your contents insurance policy.

What else should I consider when getting contents insurance?

Aside from accurately calculating replacement costs for your contents, check your policy for strict sub-limits on high-value items, whether there’s an optional add-on that covers items taken outside the home and review your insurance cover for natural disasters. Of course, when getting contents insurance, you should consider shopping around for a better deal and also think about how much excess you can afford to pay when you make a claim – both of these factors can affect the premium you’ll pay.

Key considerations include:

• Replacement value: Insure your belongings for what it costs to buy them brand new today, not what you originally paid. You can use an online tool like a contents calculator as a reference to avoid being underinsured.
• Item limits and specified contents: Standard policies often cap payouts for specific categories (for example, jewellery, collectibles or artwork). If you have expensive artwork or engagement rings, you may want to consider listing them separately as specified contents.
• Portable contents cover: Standard contents insurance generally only covers items while they’re inside your home. If you frequently carry laptops, cameras, or jewellery outside, you might want to consider adding portable contents/personal effects cover.
• Natural disasters and exclusions: Check exactly which defined events are included (for example, are bushfires and floods covered?). Some insurers exclude certain weather events or require them as optional add-ons.
• Accidental damage: Many standard policies cover theft, fire and storm damage. To cover accidental mishaps (for example, dropping a laptop or spilling coffee on the couch), you may need to add accidental damage cover.
• Excess and premiums: Choosing a higher voluntary excess will lower your regular premium, but a higher excess also likely means paying more out of your own pocket. So, ensure this amount remains affordable if you need to file a claim.
• Keeping records: Take photos, keep receipts and note serial numbers. Store these documents digitally so they are accessible if your physical items are destroyed.

While you’ve got insurance front of mind, it could be worth checking out building insurance too, whether you already have a policy or you’ve gone without. After all, if the contents of your house get damaged, it could very well mean your home also took a hit. Of course, if you’re not a homeowner, home building insurance likely isn’t something you need to worry about – but don’t be too quick to write off renters insurance for your belongings. Landlord insurance also offers cover options if you own a rental property and want to cover your contents on the property.

Where can I find contents insurance?

You can easily find contents insurance by comparing quotes online through major Australian providers or using comparison platforms. By having the appropriate policy in place, you protect your personal belongings (like furniture, electronics and clothing) from theft, fire or accidental damage.

On the iSelect comparison tool, you can explore a range of contents insurance policies from some of Australia’s well-known home and contents insurance brands. Just give us the details, and we’ll help you compare policies side-by-side and sign you up with the one you want in a matter of minutes.