Home Building Insurance

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Building Insurance with Budget Direct

Budget Direct’ s home building insurance covers the cost of repairing or replacing your home if it’s damaged or destroyed by events like fire, storm, or impact.

It covers not only your house but also other structures like garages, sheds, fences and in-ground swimming pools.


Only pay for Flood Cover if you want to.

A 21-day money back guarantee*

Temporary Accommodation||

Full 24/7 Claims Service - Your choice of phone or online.

What’s covered

The following benefits come standard with a Budget Direct home building insurance policy:

You are covered for loss or damage caused by


Storm and rainwater


Fire, lightning, explosion and earthquake


Theft, attempted theft, and malicious damage


Escape of liquid (e.g. from a bath or sink)


Impact (e.g. a falling tree)


Accidental breakage (glass, ceramic and sanitary fixtures only)


Benefits include


Cost of repairing or replacing your damaged or destroyed home (up to your sum insured amount)


Legal liability for someone else’s injury or death or for loss or damage to their property following an accident at the insured address – up to $20 million


Temporary accommodation for your family and pets if  the damage to your home makes it unfit to live in – up to 10% of your sum insured, up to 12 months*


Extra rebuilding costs, including debris removal, professional (e.g. architect, surveyor) and building application fees – up to 10% of your sum insured*


Removal and disposal of damaged contents and storage of your undamaged contents during the time it takes to repair your home – up to 10% of your sum insured*


Loss of net rental income for the period your investment property is uninhabitable – up to 10% of your sum insured up to 12 months


Loss or damage to certain fixtures and fittings in your rental property – up to 5% of your sum insured


Legal and administrative costs to discharge your mortgage, if your home is destroyed – up to $750


Cost of modifications to your home if you suffer permanent paraplegia or quadriplegia as a result of an insured event at the insured address – up to $5,000


Funeral expenses if you die as a result of an insured event at your home – up to $5,000


* We will pay this amount in addition to your sum insured.

Upgrade your cover

For a higher premium, you can customise your cover by adding one or more of the following optional benefits to your home building insurance policy:

Optional benefits

Flood Cover

Covers you for the cost of damage caused to your home by flooding rivers, creeks and other bodies of water. Flood Cover may not be available for some addresses.*

Accidental Damage

Standard cover includes accidental damage to glass, ceramic and sanitary fixtures – this option extends your cover to the rest of your home building.

Motor Burnout

In case a power surge burns out a motor in an electrical appliance you own (less than 10 years old).

Landlord Covers

In case your tenant defaults on their rental payments; or steals from or maliciously damages your investment property.

Sum Insured Safeguard

We’ll increase your sum insured by 25% if your nominated sum insured is insufficient to repair or replace your home building.

*Please refer to product disclosure statement for more information about flooding.

You can add optional benefits to your policy when you get a quote or – if you’ve already purchased a policy – by calling one of our team members on 1800 182 310.

Find out more

The information on this page is a summary only. For more details about Budget Direct home building insurance, including the terms, conditions, limits and exclusions that apply, please read the product disclosure statement.

How much cover do I need?

It’s up to you to determine the amount it would cost to repair or replace your home if it was badly damaged or destroyed – this is known as the ‘sum insured’.

This is the maximum amount we’ll pay, so it’s important you’re comfortable the sum insured you nominate is sufficient to repair or replace your home at today’s prices.

We have compiled a list of Home & Contents Insurance Calculators which you can use to estimate the costs involved in repairing or replacing your home or possessions in case something happens. These may help you to work out the sum insured value you’ll need to nominate for your insurance policy.

Get a quote

Getting a Budget Direct home building insurance quote is quick and easy.

Get a quote online and save 15%; or call us on 1800 700 027.

Protect your belongings too and save 30% by getting a combined home & contents insurance quote online.

Get a Quote

How to make a claim

If your home building has been damaged or destroyed and you need to claim, we’re here to help.

Make a claim on your home building insurance policy

Frequently asked questions

How soon after buying my home must I insure it?

It’s recommended you approach us about insuring your home building before exchanging signed copies of the purchase contract with the seller.

We’ll give you an insurance policy number to cover your home building for the period between the exchange of contracts and the settlement date. Your policy will take effect on the settlement date.

If your home is new, your policy will start once you and the builder have completed the ‘final handover’ and you’ve received a certificate of occupancy from the building surveyor. You can get a quote online or call us on 1800 700 027 to arrange cover.

Is my house covered for storm damage?

Yes – you’re covered for storms that result in damage or loss from rainwater escaping from any water pipe, drain or gutter; or surface run-off of rainwater from surrounding areas within 24 hours of the storm. To be covered for flooding, you must add optional Flood Cover to your policy.

What if I can’t stay in my home?

If the damage to your home makes it unfit to live in, we’ll arrange accommodation for your family and pets while your house is being repaired or rebuilt, for up to 12 months and 10% of your sum insured.

See all home and contents insurance FAQs

Want more cover?

It goes without saying that, if your home building is badly damaged or destroyed, some or all of your home contents may also be harmed or lost.

If you get an online quote and buy combined Home & Contents Insurance you’ll get a discount of ##%^ off your premium.

Get a Quote

|| Up to 12 months temporary accommodation. Benefit capped at 10% of sum insured. Terms & conditions apply.
*If you cancel the policy within 21 days without making a claim, we’ll give you a full refund.
** Conditions apply. See the Product Disclosure Statement for full details.
°° Based on customers who have made a claim on Budget Direct Home Building Insurance, and who were surveyed between 10 February 2015 and 31 October 2017. Visit www.budgetdirectreviews.com.au for more details.
Subject to underwriting terms and conditions, see PDS for details.