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Winner of Money magazine’s Best of the Best award for Cheapest Home & Contents Insurance four years running (2017–20).
We guarantee the quality of authorised repairs, including the workmanship and materials.
If your house is unliveable due to an insured event, we’ll give you and your pets temporary accommodation for up to a year.
Optional flood cover‡
Only about 20% of Australian homes have some risk of flood – you only pay for flood cover if you want to.
If your belongings are stolen or damaged beyond repair, we’ll pay to replace them with new ones.
Up to $20 million of cover for someone else’s accidental injury or death or for loss or damage to someone else's property at the insured address (home insurance) or anywhere in Australia (contents insurance).
You can lodge a claim online at any time of the day or night, 365 days a year.
Each year we’ll increase the amounts your home and contents are insured for – to help keep pace with rising costs.
Choose your cover
You can get home or contents cover separately, or combine them.
Landlords and renters
Budget Direct home and contents insurance is not only for homeowners, but landlords and renters too.
Budget Direct home and contents insurance covers your house and personal possessions against loss or damage caused by the following insured events:
- Storm and rainwater (flood cover is optional)
- Theft (or attempted theft)
- Escape of liquid (e.g. burst pipe)
- Impact at home (e.g. fallen tree)
- Breakage of glass, ceramic and sanitary fixtures
- Malicious damage, vandalism, riot or civil commotion
- Earthquake or tsunami
Upgrade your cover
For an additional premium, you can customise your home and contents insurance policies by adding one or more of the following optional covers:
Covers your home and contents for loss or damage caused by flooding rivers, creeks and other bodies of water.§
In case a power surge burns out a motor in an electrical appliance you own (less than 10 years old); we’ll also pay for related spoilage of food.
Protection if your tenant defaults on their rental payments and/or steals from or maliciously damages your investment property.
Sum Insured Safeguard
If your nominated sum insured is insufficient to repair, rebuild or replace your home, we’ll increase it by up to 25% (e.g. from $400,000 to $500,000).
How do I add an optional cover to my policy?
How much cover do I need?
It’s up to you to determine how much it would cost to replace your home and contents if they were totally destroyed, for example, by fire – the ‘sums insured’.
These are the maximum amounts we’ll pay, so it’s important you’re comfortable the sums insured you nominate are sufficient to replace your home and contents you wish to insure, at today's prices.
Get a quote online and save up to 30%^
Getting a Budget Direct home insurance quote takes just a few minutes.
|Get a quote online and you’ll receive the following discount|
|Home and Contents Insurance||30%|
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Award-winning Australian home insurance
After comparing the cost and features of 135 policies offered by 52 insurers, Canstar presented us with one of only three national awards for Outstanding Value Home & Contents Insurance in 2019.
We've also won Money magazine's Best of the Best title for Home & Contents Insurance four years running (2017–20); and a Mozo Experts Choice 2019 award for Exceptional Value Home & Contents Insurance.
To cap it off, the Australian public voted us the Gold Winner in the Home & Contents Insurance category of the 2019 Reader's Digest Quality Service Awards survey.
Find out more
The information on this page is a summary only. For more details about Budget Direct home and contents insurance, including the terms, conditions, limits and exclusions that apply, please read the Product Disclosure Statement (PDS)
Frequently asked questions
What does home insurance cover?
‘Home insurance’ is an umbrella term that encompasses three variations of cover:
- Home and contents insurance covers your house and other structures on your property as well as your belongings for loss or damage due to events like fire, theft and storms.
- Home insurance covers your house and other structures on your property, including your garden shed, fences, and in-ground swimming pool.
- Contents insurance covers the belongings inside your home, including furniture, whitegoods, electrical appliances, clothing, and more.
Terms, conditions, limits and exclusions apply to Budget Direct home insurance; for full details, please read the product disclosure statement.
How can I get cheaper home insurance?
There are a number of ways you can reduce your Budget Direct home and/or contents insurance premium, including:
- Select the right level of cover: Our range of optional benefits means you don’t have to pay for cover you may not need, e.g. flood cover.
- Buy your policy online: If you get a quote and buy a policy online, you’ll receive a 15% (home or contents) or 30% (home and contents) discount on your premium.
- Increase your excess: Choose an excess between $100 and $5,000; by increasing your excess, you could lower your premium.
- Pay your premium annually: By paying annually instead of in instalments (i.e. fortnightly or monthly), you’ll pay a smaller premium and avoid administration fees.
When should I get home insurance?
It’s not a legal requirement, however your lawyer or conveyancer will usually recommend you insure your home (or investment property) when you exchange signed copies of the purchase contract with the seller.
Also, most mortgage lenders require you to take out insurance before the loan becomes unconditional.
Does home insurance cover floods?
Your home and/or contents can be covered for floods if you take out Budget Direct’s optional ‘Flood Cover’.
This cover protects you against loss or damage caused by flooding rivers, creeks, lakes, dams and other bodies of water.
You can apply to add Flood Cover to your home and/or contents insurance policy when you get a quote and buy insurance or – if you’ve already bought cover – by calling us on 1800 182 310 or logging into your online account and editing your policy.
If you meet our underwriting criteria, we’ll approve your application.
Note that your Flood Cover will take effect 72 hours after you add it to your policy, unless the policy:
- commenced immediately after another policy covering the same risks expired, without a break in cover
- commenced on the same day you bought your home or moved to a new address.
This is designed to stop people taking out cover immediately before anticipated floods and then claiming. This in turn helps keep your premiums down.
Does home insurance cover valuables I take with me away from my home?
Among the items covered by Budget Direct contents insurance are:
- musical instruments
- photographic equipment
- sporting equipment
- medical aids.
These items are covered – up to your contents sum insured – if they are lost or damaged by an insured event while inside your home.
Home Insurance Knowledge Base
Your questions about insurance all
answered in one place.
^Online discount applies to new policies only. Terms and conditions apply.
*Based on a survey of Budget Direct Home Insurance customers conducted between 10 February 2015 and 29 February 2020. Visit www.budgetdirectreviews.com.au for more details.
||Benefit capped at 10% of sum insured. Terms and conditions apply.
§ The addition of Flood Cover to a policy is subject to our underwriting criteria.
‡Flood data based on analysis conducted by Auto & General Insurance Company Ltd. Subject to underwriting terms and conditions, please see PDS for details.