.svg)
Compare home insurance in QLD today
Written by
Tina Sendin
Edited by
Ellie Garran
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.
Why should I compare home insurance in QLD?
Did you know that Queensland is bigger than the United Kingdom? While you wrap your mind around that, try to grasp the concept that Queensland gets tropical cyclones larger than the country of England. Also, more natural disasters tend to take place in the Sunshine State (the irony isn’t lost on us) than anywhere else in the country.
So while getting home insurance to stay protected against the unexpected is a no-brainer, comparing policies is just plain smart – whether you’re a homeowner, a landlord, or a renter.
Because why pay more when you don’t have to, right? Different insurers offer different rates, discounts, and inclusions, so if you’re not comparing, you might be missing out on saving some serious coin.
Is home insurance mandatory in QLD?
Nope, having home insurance isn’t mandatory in Queensland, or anywhere in Straya for that matter.
But before you think about skipping it, ask yourself this – could you afford to rebuild or replace everything if disaster struck? For most of us, the answer’s a hard no. Getting home insurance is just good old-fashioned common sense. Even if it’s not legally required, home insurance is a solid safety net – especially when you live in a state that’s no stranger to wild weather, not to mention the odd break-in.
That said, there are cases where building insurance is pretty much non-negotiable. If you’ve got a mortgage, for example, your lender will usually require you to take out a policy. It’s their way of protecting the investment in case something like a fire or flood turns your property to rubble.
What are the different types of home insurance in QLD?
Combined home and contents insurance
This type rolls building and contents insurance into one policy, so you won’t have to juggle separate plans and deal with extra paperwork. Combined home and contents insurance is perfect if you want to make sure every corner of your home is covered – from the structure to your prized belongings:
the main structure of your property
permanent fixtures and fittings
outbuildings like the garage or garden shed
furniture, carpets, and curtains
your jewellery, electronics, and even linens.
Building
insurance
Sometimes called house insurance or home insurance, building insurance does exactly what its name suggests. It covers the cost of repairs to your house (or even of rebuilding it) when it’s hit by certain events, such as bushfires, storms or earthquakes. This may include repairs for:
the structure of your house, including the walls, floors, and roof
sheds, garages, and fixed swimming pools on the property
fixtures attached to the house, such as kitchen cabinets, baths, and light fittings.
Contents
insurance
Contents insurance is for all the stuff that makes your house a home. It covers your belongings if they’re lost, stolen, or damaged – whether it’s from a break-in, a fire, or even wild weather. It’s a smart way to safeguard the things you love, such as:
furniture and appliances
clothing and personal items
jewellery and valuables
electronics and gadgets
art, decor, and collectibles.
Landlord
insurance
If you’re renting out a property, landlord insurance is designed to protect you from the kinds of dramas that can pop up when you’re dealing with tenants or unexpected damage. Think of it as an extra layer of security, keeping your investment property covered while you collect the rent. It covers things like:
damage to your property
loss of rent
legal expenses due to a tenant dispute
damage from natural risks like fire, flood, or explosion
theft or burglary.
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 are the average costs of different home insurance types in QLD?
iSelect data shows that from July 2023 to June 2024, the average combined home and contents premium paid by our Queensland customers was $1,842 – the second most expensive average premium among all the states, only a tad cheaper than NSW.
If you want to know how Queensland stacks up against the other states, here are the average premiums (at least those with viable iSelect customer data) anywhere else in Straya.
It’s also worth noting that the average building insurance premium in Queensland for the same year was $1,639. This dollar figure is more expensive than NSW’s average of $1,616 and VIC’s $1,124.
What factors can affect the cost of home insurance in QLD?
When it comes to your home insurance in Queensland, there’s no one-size-fits-all solution. Your premium can vary widely depending on a mix of factors unique to you and your property. Here’s the lowdown on what can crank up those costs, so you’re not left scratching your head.
Location, location, location
Where you live in Queensland can have a massive impact on how much you’re shelling out for insurance. Fancy a beachside spot in North Queensland? Great choice, but the cost of peace of mind might be higher thanks to Mother Nature. This region cops some of the roughest weather in the country, with cyclones, floods, and storm surges all too common.1Queensland Government – $92M invested in North Queensland recovery and resilience
Did you know that 2021’s Cyclone Niran caused damage bills of around $200 million?2News.com.au – North Qld banana growers caught ‘off guard’, hit hard by cyclone Niran Not to mention the ongoing risk from floods. For example, Southeast Queensland was hammered by the 2022 floods, causing over $5 billion in insured losses.3Insurance Council – Insurance Catastrophe Resilience Report 2021-22 Ouch.
Insurers consider the location of your home, and they adjust premiums in high-risk areas accordingly. If you’re in cyclone alley or in flood-prone suburbs, you can almost expect your wallet to feel it.
The sum your home is insured for
Here’s the golden question: how much will it cost to rebuild your home and replace all your stuff if the worst happens? The ‘sum insured’ is basically that number. It’s not just about guesstimating; you’ve got to include things like rising building materials costs, labour shortages, and even clearing debris post-disaster.
The higher the sum insured, the higher your premium. But skimp on it and you could be out of pocket when disaster strikes.
It’s a balancing act, so it’s not worth being stingy when estimating. What you can probably do, though, is touch base with your builder mate. They’ll likely know what the go is in terms of building costs.
Crime rates
Sadly, not all parts of sunny Queensland are created equal when it comes to crime. Suburbs with higher break-and-enter rates tend to see higher premiums slapped on for home insurance.
If your area has a rep for being a crim’s playground, insurers will adjust accordingly. For example, places like Townsville and Mount Isa have high property offences in recent years.
On the flip side, if you live in a quiet spot with virtually no drama, you might score a cheaper rate.
Optional extras
Adding extras to your policy is like ordering from Maccas with all the upgrades. It’s great if you want more coverage, but it’ll bump up the price.
Things like accidental damage cover, portable insurance for items like your fancy laptop, or flood cover that’s not automatically included in certain policies will all add up. If you’re not careful, you could end up paying more for all the frills you don’t actually need.
But sometimes, spending a bit more is worth it if it means you’re fully covered. Say you live in a flood-prone area and you know your policy doesn’t automatically include flood cover, then you could be better off adding this extra into your coverage should a thunderstorm unfortunately strike.
Helpful tip
The cost of home insurance in QLD is influenced by a heap of different factors. From where you live to how many extras you choose to bundle in, it’s all about weighing up risk versus need.
Don’t just take a cookie-cutter approach; dig in, compare policies, and make sure you’re getting value for every dollar spent. And hey, if you’re in a flood-prone suburb or cyclone hotspot, don’t skimp. It might cost you more now, but better safe than sorry for when you need it most.
Adrian Bennett
General Manager for General Insurance
How can I save on my home insurance premium in QLD?
Choose a higher excess to lower premiums
You can shave a few bucks off your premium by choosing a higher excess. It’s all about agreeing to pay more out of pocket if you need to claim. But it’s worth making sure you don’t go overboard, or you might feel the pinch if disaster strikes.
Increase security measures
Installing better security is a no-brainer when it comes to saving on home insurance. Think deadlocks, security cameras, or an alarm system. Insurers love a house that’s as tough as old boots to break into, and they’ll often pass on the savings.
Bundle building insurance with contents or other insurance
Bundling your building insurance with contents or even car insurance could save you a solid chunk of change. It’s like hitting up your local servo for a two-for-one deal. Keep it all with one provider and they might reward your loyalty with a discount.
Compare regularly to get the best deal
Sometimes, sticking with the same insurer year after year feels like the easiest way to maintain home insurance. But it’s not always the cheapest. It’s worth jumping online and comparing a few quotes. A quick shop around could save you enough for a good night out.
What are the risks to home insurance in QLD?
Unfortunately, living in the sunshine state doesn’t always result in sunshine 24/7. When searching for a suitable policy, it may be important to consider any risks unique to your part of Queensland.
Queensland is home to more natural disasters than any other state in Australia. That said, it’s important to note that it’s a big state (bigger than the United Kingdom!), and risk can change based on your location.
| Brisbane home risks | The City of Brisbane is built on a floodplain, meaning it’s more prone to flooding. Although the Brisbane City Council has made moves to build future properties with this in mind (specifically after the January 2011 flood), they also suggest that future flooding is inevitable. These risks might also make Brisbane properties a little pricier to insure than other locations. |
| North Queensland home risks | The risks in North Queensland can be more severe than those in Brisbane. In addition to flooding, tropical cyclones happen frequently and are expected to become more intense over time. |
Frequently asked questions
What are the home insurance providers in QLD?
There’s a whole heap of home insurance providers to choose from in Queensland. If you plan on exploring a range of policies, the iSelect comparison tool can help you. With just a few clicks, you might find the one that can get you the most bang for your buck.
Here are some insurers that iSelect can help you compare:
- ahm
- Budget Direct
- Coles
- Everyday Insurance
- Huddle
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 and some may only be available over the phone or on the website. Learn more.
Here are some other insurers available in the market today:
- 1300 Insurance
- 1Cover
- AAMI
- Allianz
- Ansvar
- ANZ
- APIA
- Assetinsure
- Aussie (AHL Investments Pty Ltd)
- Australian Seniors Insurance Agency
- Bank of Melbourne
- BankSA
- BOQ
- Bupa
- CBA Insurance
- CCI Personal Insurance
- CGU
- CHU
- COTA Insurance
- Defence Service Home Insurance Scheme
- Dodo
- Elders Insurance
- Flex Insurance
- FM Global
- GIO
- Guild Insurance
- Hollard Australia
- Honey
- ING
- Insurelite
- MHIA
- National Seniors Insurance
- NRMA
- Over Fifty Insurance
- Ozicare
- QBE
- RAC
- RACQ
- RACT
- RACV
- Real Insurance
- RentCover Landlord Insurance
- Retirease Insurance
- SGIO
- SGUA
- ShareCover
- St. George
- Strata Community Insurance
- Suncorp Insurance
- Terri Scheer Landlord Insurance
- Territory Insurance Office
- Westpac
- WFI
- Youi
What are the most common claims for home insurance in QLD?
Some insurers report that the three most common claims in the Sunshine State are:
- natural hazard – this is pretty consistent across the country
- accidental loss or damage
- escape of liquid.
Do home insurance premiums go up after a claim?
Yep, they usually do. When you make a claim, your insurer might see you as a bigger risk, and that can lead to higher premiums when it’s time to renew. It’s a bit like your car insurance going up if you’ve had a bingle.
How much it jumps depends on the type of claim and how many you’ve made. A one-off claim for something minor might not hurt too much, but if you’re racking up claims like it’s a sport, you might cop a bigger hike.
That said, it isn’t worth avoiding claims when you genuinely need to. Insurance is there to have your back when things go pear-shaped. It makes total sense to weigh it up first and consider whether a smaller issue is worth paying out of pocket to keep future premiums steady.
How can I compare home insurance in QLD?
Comparing policies from different insurers is one of the best ways to find a great deal. Weighing up similar policies can also give you a good idea of how much value you’re getting for your money.
When comparing policies, you’ll also want to consider:
- How much it might cost to rebuild your home or replace your belongings
- How much you’d be willing to pay out-of-pocket when making a claim
iSelect can also help when it comes to comparing policies. You can use the iSelect comparison tool to explore policies from different providers. So give it a try today! It’s free and easy-to-use.
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.