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Compare contents insurance
Written by
Kervin Mathew
Edited by
Andrew Kemp
Reviewed by
Adrian BennettOur Home and Contents partners
iSelect does not compare all providers in the market or all policies offered by our partners in your area. Not all policies or special offers are available to all customers. Learn more.
What is contents insurance?
Contents insurance is a type of home insurance product that can help cover the cost of your belongings if they’re damaged or stolen. It’s an added layer of protection for items that are not permanently fixed to a building’s structure – think appliances, furniture, jewellery and clothing. Contents insurance is something you can get by itself (say, if you’re a renter) or bundled with building insurance as a combined home and contents policy (say, if you’re a homeowner).
Why compare contents insurance?
Different contents insurance policies offer different levels of coverage and claim limits, not to mention different premiums. Comparing policies may help you find one that offers better value all around. Whether you’re after more comprehensive protection for your belongings or a policy that fits your budget, comparing can help you find great coverage for your contents.
What does contents insurance cover?
Contents insurance is designed to help cover your home’s contents (like furniture, appliances and electronics) if they’re damaged or stolen under certain circumstances insurers refer to as insured events – think theft, storms or bushfires. Most contents insurance policies operate similarly, but there can always be subtle (or obvious!) differences in coverage. Check the policy’s Product Disclosure Statement (PDS) and key facts sheet for what it covers and doesn’t before you make a buying decision.
Covered
From whitegoods to electronics to clothing and jewellery, contents insurance may help you repair or replace your valuables in a range of circumstances, as covered by the terms of your policy.
These circumstances can include:
fire
explosions
lightning
earthquakes and tsunamis
storms
escape of liquid
theft or burglary (including attempted theft)
impact damage, like falling trees
vandalism and malicious damage.
You might have started to pick up on a theme here – coverage is generally limited to unexpected events and causes unrelated to your own actions (unless you’re an experienced rainmaker or can claim Thor as a parent).
Not covered
It’s one thing to hope your contents insurance covers you, it’s another to actually be covered. Although it can depend on your policy, there are some situations and types of loss that are commonly excluded, including:
intentional damage by you (the policyholder)
wear and tear
business activity
contamination or pollution
vermin, like termites and rodents.
Your policy may have other exclusions too, so you might want to look at the PDS to get the full story.
Optional extras
While you’re unlikely to find cover for ‘I swear I put it down here’ losses, you might be able to purchase optional extras to expand your coverage further. Extras tend to include things like:
motor damage cover, like the motor breaking or burning out in your fridge
commercial storage if you keep valuables in a commercial storage facility and they are lost or damaged
portable contents insurance (also known as personal effects cover).
Your policy’s PDS will outline what’s covered and under what circumstances. It may also list limits and exclusions.
How does contents insurance replace my belongings?
When you make a claim on your contents insurance policy, providers typically approach the cost of replacing your belongings in two ways: with a brand-new replacement (also called new-for-old replacement) or based on the contents’ depreciated value. To help ensure you’re in sync with your policy’s cover, check the certificate of insurance and PDS.
New for old replacement
Even if your items were looking a little worse for wear when they were damaged, this cover could help you replace them with a brand-new equivalent. This may mean higher premiums, but a successful payout can offer greater value!
Depreciated value
Some types of policies factor in depreciation and pay a claim based on how much your contents were worth at the time of the loss or damage. While these policies may have lower premiums, they may provide less value if you need to claim.
How to compare your home insurance
Get started
Tell us about your home and what you’re after, and we’ll get the ball rolling.
Compare your options
We’ll show you policies side by side, including their premiums, inclusions, exclusions, and extras you can add on, so you can easily compare.
Take your pick
Tell us which policy you fancy and we’ll lock it in for you. That means you can not only compare, but also get the new policy through us. And the best bit? There’s no extra cost from us – zilch!
Start fresh
The final step? Let your old insurer know you’re saying goodbye. It’s time to enjoy your new cover!
Why buy home insurance with iSelect
Our service doesn’t cost you a cent
Instead of charging you anything, we get a commission from our partners.
Same price, no mark-up
We don’t mark up the price of our products, so you’ll pay the same as buying direct.*
*Excluding corporate discounts and exclusive retail offers
Quick and easy online comparisons
The right coverage is only a few clicks away. You can compare home insurance policies in just a few minutes.
We’ve been around the block
We know our stuff, with over 25 years’ experience helping Aussies compare, switch, and save.
What items does contents insurance typically cover?
Contents insurance typically covers items inside and not permanently fixed to the home. While the contents included may vary between insurers, the following things are typically covered up to a certain amount (unless they’re listed or specified) in the policy:
- bicycles
- engagement rings
- laptops
- mobile phones
- cameras
- jewellery
- watches
- carpets
- furniture and furnishings
- household electrical appliances.
Now, if you also want coverage for the things you often take with you – say your laptop, camera or your luxury watch – portable items (or personal effects) cover can protect them wherever you go. Again, it’s worth checking your policy, as portable contents cover might have limitations.
What factors can affect the cost of contents insurance?
Factors such as the value of the contents, your level of cover, claims history and your home’s location can influence how much you pay for contents insurance. At its core, your premium is based on the likelihood of you claiming and the value of your insured belongings. It can also depend on the policy, as risk can be evaluated differently by insurance companies. Here are some of the factors that can feed into your premiums:
- the value you’ve insured
- the scope and limits of your cover, including optional cover
- your excess
- your home’s location and its associated likelihood of severe weather and crimes
- which security features you have at home
- your claims history.
Now, if you’re wondering whether contents insurance is worth it, here’s our two cents. If replacing your stuff out of pocket would be a financial strain, contents insurance can help provide peace of mind and financial security.
That said, it’s important to weigh the cost of premiums against the value of what you’re insuring. If you own high-value items or have a lot of belongings, insurance is often a smart move. On the other hand, if you don’t have much to insure or can easily replace your items, it might not be as essential.
Ultimately, it all boils down to assessing your needs, budget and how much risk you’re comfortable taking on. If you’re unsure, comparing policies can help you decide if it’s the right fit for you.
Contents insurance with iSelect
Comparing contents insurance with us is a great way to narrow down your options when deciding the type of cover to protect the contents of your home – whether that’s by repairing or even replacing them. Comparing a range of policies side by side means you can see different levels of cover and features at a glance.
What is the average value of contents in a household?
The average value of contents in a household in Australia is around $96,000, according to iSelect sales data for the 2025–26 financial year. Looking at the same data, the average contents value can vary between $80,000 and $110,000 based on the state or territory of the insured address. For instance, Queensland (Qld) households own around $83,000 worth of contents on average while the Australian Capital Territory (ACT) leads the pack with an average contents value of almost $107,000.
When all’s said and done – your location is just one layer. The value of your contents can vary based on other things like the type of property, the number of rooms it has and how many people live there. For example, a family of four in a 4-bedroom house in Melbourne’s Richmond has around $95,000 worth of contents, going by the Insurance Council of Australia’s Home Contents Calculator. A 2-bedroom unit in the same area for a 2-member household has around $64,000 worth of contents, while a 3-bed terrace with a 3-member household’s content value is $73,000.
| State or territory | Average replacement value of contents |
|---|---|
| ACT | $106,663 |
| New South Wales (NSW) | $102,014 |
| Qld | $83,265 |
| South Australia (SA) | $85,616 |
| Tasmania (Tas) | $91,808 |
| Victoria (Vic) | $97,320 |
| Western Australia (WA) | $93,788 |
| Australia | $96,029 |
Note: These figures reflect indicative average content replacement cost specified by iSelect customers who bought contents insurance between 1 July 2025 and 30 June 2026 excluding NT customers. Estimates include internal iSelect calculations applied to this data. Actual costs may vary depending on your personal circumstances. Data retrieved July 2026.
Helpful tip
Don’t forget to check your contents insurance policy every now and then. Life changes, and so does the value of your stuff.
Have a think: Over the last few months, did you purchase any snazzy gadgets, upgrade your furniture or inherit a family heirloom? A regular review of your policy can help you make sure it still covers everything you want to insure.
And remember, if you’ve got high-value items like jewellery or collectibles, they might need extra cover. Doing your homework now – aka reviewing your current policy – could save you a lot of stress down the track!
Adrian Bennett
General Manager for General Insurance
How can I save on contents insurance?
You could save on your contents insurance costs by raising your excess, paying your premium in a lump sum (annually) and shopping around for policies so you’re not overpaying for the cover you want. In the same vein of overpaying, overestimating the value of your contents could prevent you from saving on your premiums. So even if you get an online calculator or similar to evaluate the costs of your contents, it might help to go over your items one by one and get a more accurate estimate.
Shop around
Even if you receive a good-enough first quote, that doesn’t mean you should stick with it. You can compare a few insurers to see who’s offering the best bang for your buck.
Raise your excess
If you’re willing to pay a bit more out-of-pocket when you claim, your premiums could drop. But it’s worth making sure you can afford the excess in the unfortunate event that you need to make a claim.
Skip the guesswork
Make sure your coverage matches the actual value of your stuff – or try to get as close as you can. Consider going room by room to estimate each item’s worth or using online calculators. Doing this can help avoid over- and underinsurance, which can both hurt your wallet!
Pay annually
Fortnightly or monthly payments can come with extra fees. If you can swing it, paying up-front for the whole year could save you a few bucks.
How do I figure out the value of my contents?
Finding out the value of your contents can be done either by using an online calculator and getting an estimate or by going through your home’s contents one-by-one and adding up their individual values to arrive at a total. An online calculator typically estimates your contents’ worth based on the address and the number of occupants. Whereas working your way through each room of your house and documenting your contents can give you a more accurate figure – and reduces the risk of overinsuring your contents – in simple terms, paying more than you need to for cover.
- Using an online calculator involves entering your address and specifying other details like how many people live at the address, how many rooms you have and the quality of your items.
- If you’re up for the legwork, the other option is to make an inventory complete with photos and assess the value of every item you want to insure. If you’re someone who likes to keep your receipts, you can also match these up to your valuables for a more accurate estimate of their worth.
While the second approach can take a little more time, it could also be a way to kill two birds with one stone if you’ve been looking to declutter or just find where you put your favourite ring.
Frequently asked questions
Which providers offer contents insurance in Australia?
We’ve partnered with a range of contents insurance providers to help you compare policies.
iSelect does not compare all brands in the market or all policies offered by our partners in your area. Not all policies or special offers are available to all customers and some may only be available over the phone or on the website. Learn more.
Here are some other insurance brands available in the market today:
- 1300 Insurance
- AAMI
- ALDI Insurance
- Allianz
- ANZ
- APIA
- Aussie (AHL Investments Pty Ltd)
- Australian Seniors Insurance Agency
- Bank of Melbourne
- BankSA
- BOQ
- Bupa
- CBA Insurance
- CGU
- CHU
- COTA Insurance
- Elders Insurance
- GIO
- Guild Insurance
- Honey
- ING
- MHIA
- National Seniors Insurance
- NRMA
- Over Fifty Insurance
- Ozicare
- QBE
- RAA Insurance
- RAC
- RACQ
- RACT
- RACV
- Real Insurance
- RentCover Landlord Insurance
- SGUA
- ShareCover
- St. George
- Strata Community Insurance
- Suncorp Insurance
- Terri Scheer Landlord Insurance
- Territory Insurance Office
- Westpac
- WFI
- Youi
Will contents insurance cover things in my garage or shed?
In many cases, contents insurance can cover your belongings that you keep in a locked garage or shed if they’re damaged or lost because of an insured event – like someone forcing their way into your locked shed and stealing your lawn mower. Some policies may also provide cover for contents you store in a commercial storage facility that are damaged by an insured event like a storm. It’s worth noting that there are exclusions and conditions of cover with any insurance policy, so you might want to check the Product Disclosure Statement – otherwise, you could be in for a shock when you go to make a claim.
How does excess work for contents insurance?
Your excess is the out-of-pocket cost you’ll need to pay if your insurer accepts your contents insurance claim. Depending on your policy and insurer, you may be able to choose your excess to an extent. If so, it could be a way to keep your premium lower by choosing a higher excess. Of course, you may want to factor in whether you can afford to pay the higher excess if something were to happen. After all, while low premiums can be great, if you can’t afford to cover the excess to make your claim, your contents insurance could all be for naught!
Is there a limit to how much my contents insurance will pay?
Yes, most insurance policies have a limit to how much they can pay you out for a claim – that’s your sum insured. There is a twist though! This limit is something that you get to specify when you buy the policy. There may also be sub-limits on how much you can claim for certain items. For instance, you might only be able to claim up to a few grand for your whole jewellery collection but as much as $5,000 for a single piece of artwork. To figure out the specifics, it’s worth getting familiar with your policy’s PDS.
If there’s something you really want to insure over the specified limit, you might want to investigate listing it as specified contents. This could help increase that claim limit but may also bump up your premium.
Can I combine my contents insurance with building insurance?
Yes, you can get combined cover for your property and possessions under one insurance policy. In some cases, insurers may offer you a discount on your premiums if you get a combined home and contents insurance policy. Other benefits include less paperwork and depending on the policy terms, paying just one excess if you make a claim for loss or damage to your building and contents that’s caused by one insured event – as opposed to working with two separate policies and paying two excesses.
Getting home and contents insurance may not be as easy a decision as adding chips and a drink to your burger order (especially because of the higher premium). But it could still be convenient and offer great value. Doing your research and seeing what else is out there, combo or not, may help you get cover that better meets your budget and insurance goals.
What happens with my contents insurance if I move house?
If you move house, your contents insurance policy must be updated as your risk level is tied to your address. So, it’s a good idea to let your insurer know that you’re moving. Then, they can update the policy with your new address, or you could even look into getting a new policy altogether. Additionally, it might be worthwhile double-checking whether your existing policy covers your possessions during the move. Your policy may even cover contents at both your new and your old address for a short period, giving you some time to get your cover sorted out in the middle of the moving mayhem!
What about contents insurance for renters?
You don’t have to own your home to protect your valuables with contents insurance – as long as the contents you’re insuring are yours, you’re generally good to go. Insurers may even have dedicated renters insurance that covers your contents for a range of insured events, along with temporary accommodation if you can’t stay in your rental property for certain reasons.
While the additional premium on top of your rent might not always agree with your budget, you could find yourself extremely grateful for taking out renters insurance, say, if there’s a burst pipe in your apartment and the body corporate is taking its time picking a repair quote.
Can I get contents insurance if I live in a share house?
Yes, you can get contents insurance if you live in a share house – either for just your belongings or as a group to cover all the contents you collectively own. So, having housemates shouldn’t necessarily put you off from getting contents insurance. Depending on the policy, you may need to keep your insurer in the know about the number of housemates (who are not relatives) you have if you’ve taken out contents cover. Alternatively, you might want to get single-room insurance to make sure your personal belongings are protected.
Can landlords get contents insurance for their rental property?
Yes, landlords can get contents insurance for household items they own on the property – think furniture, carpets and blinds. As a landlord, you can extend your contents cover to include optional extras such as motor burnout cover to help fix up appliances like fridges and washing machines if their motors go kaput from a power surge or electrical fault.
Renting is a two-way agreement with landlords and tenants ideally aiming to do right by one another. Still, accidents can happen, along with arguments about who’s going to cover the cost. But your contents insurance could clear things up, looking after fixtures that get a little tough love from time to time.
If you want to level up your coverage, you might want to look into landlord insurance. It may be a way to take some of the risk out of your investment property, like if it becomes uninhabitable and can’t be rented for a time.
Get started on comparing home and contents today!
Save time and effort by comparing a range of home and contents insurance policies with iSelect
iSelect General Pty Ltd (ABN 90 131 798 126. AFSL 334115) has partnered with Compare the Market (ABN 83 117 323 378. AFSL 422926) to compare a range of home insurers and policies. Not all providers in the market or all policies offered by the partners are compared and not all policies or special offers are available to all customers.
A number of our participating general insurance brands are arranged by Auto & General Services Pty Ltd ACN 003 617 909 on behalf of Auto & General Insurance Company Limited 111 586 353, both of which are related entities of iSelect Limited. Our relationship with those companies does not impact the integrity of our comparison service. Click here to view iSelect’s range of providers.
Any advice provided by iSelect is of a general nature and does not take into account your objectives, financial situation or needs. You need to consider the appropriateness of any information or general advice iSelect gives you, having regard to your personal situation, before acting on iSelect’s advice or purchasing any policy. You should consider iSelect’s Financial Services Guide which provides information about our services and your rights as a client of iSelect. iSelect receives commission for each policy sold that is a percentage of the premium or a flat fee. Ask us for more details before we provide you with any services.