Home and Contents Insurance for South Queensland

Looking to insure your home in South Queensland? Check out some of the top rated Southern Queensland home and contents insurance policies on Canstar’s database.

As a home to nearly 5 million people, Queensland is Australia’s third most populated state. Beautiful beaches, the Great Barrier Reef, great weather (most of the time) and tropical rainforests give Queensland a stunning appeal, but it is also one of the costliest states to live in when it comes to damage to homes – 2011, for example, saw Tropical Cyclone Yasi create $1.4 billion of insured losses state-wide.

As a huge state with wildly varying weather, home insurance is a different beast in South Queensland. That is why for insurance’s sake, Queensland tends to be separated into two regions – North and South.

Canstar’s database has just under 90 different policies available for South Queensland residents (south of Rockhampton) looking for home and contents insurance, so if you’re looking for a new policy or feel like upgrading on your current one, check out some of the options below.

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Home and contents insurance policies – South QLD

The table below displays a snapshot of four home and contents products with direct links to the providers’ websites, sorted by Star Rating (highest to lowest). These results are based on a policy holder under 50 years old in South Queensland for building and contents worth less than $550,000.

Home insurance policies –  South QLD

The table below displays a snapshot of four building insurance products with links to the providers’ websites, sorted by Star Rating (highest to lowest). These results are based on a policy holder under 50 years old in South Queensland.

Contents insurance policies – South QLD

The table below displays a snapshot of four contents insurance products with links to the providers’ websites, sorted by Star Rating (highest to lowest). These results are based on a policy holder under 50 years old in South Queensland for contents worth under $75,000.

For a full list of products, visit www.canstar.com.au

Why get home and contents insurance in South Queensland?

If you’re asking this question, then ask yourself another one: can you afford to not have home or contents insurance? Insuring your home and contents can financially prepare you for the event of a major disaster such as a fire, flood, storm or robbery. Most policies will cover you for ‘defined events’ like natural disasters, while others may cover you for accidental damage to your property or belongings, such as a window getting smashed by a tennis ball.

Queensland is prone to a large number of deadly disasters, tropical cyclones in particular. As residents saw in the 2011 floods, flood cover is important to consider if you live in a low-lying suburb. While North Queensland (north of Rockhampton) is more susceptible to cyclones, the rest of the state can suffer from run-on effects of these disasters, so it’s important to consider cover no matter what part of the state you’re in.

You can be insured for three different amounts:

  • The sum insured: policies will typically pay claims for up to a specified amount
  • Safety net: some policies will pay an additional percentage above the sum insured amount in specific circumstances
  • Total replacement: some policies will pay the total cost to repair or replace your property or contents

How much does home and contents insurance cost in South Queensland?

The cost of home and contents insurance reflects the level of risk the insurer expects to take on. A larger number of claims in recent years due to increased severity and occurrence of natural disasters has seen an increase in premiums nationwide, and this is no different in the sunshine state. There have been significant premium increases overall since the devastating 2011 floods in the region. Between 2016-2017, Canstar calculated the following increases in premiums for insurance in South Queensland:

  • Annual contents insurance premiums rose by just $7 on average (1%)
  • Home insurance premiums rose by $32 on average (3%)
  • Home and contents insurance premiums rose by $25 on average (2%)

The rise of premiums in Queensland appears to be slowing, despite being one of the most expensive states for home and contents insurance. The table below shows the average annual cost of home and contents insurance in South Queensland. Bear in mind though that the premiums you pay will vary based on a wide variety of factors such as:

  • Your age
  • The location of the property and whether it is prone to natural disasters
  • Your home’s security
  • The medium suburb price
  • The estimated value of the home and more
South Queensland average annual premiums
Insurance Type Minimum Average Premium ($) Maximum Average Premium ($)
Home $655.07 $1,627.67
Contents $229.23 $1,126.83
Home and Contents $751.66 $2,675.00

Source: Canstar.com.au. Average annual premiums are based on products included in Canstar’s Home and Contents Insurance Star Ratings and Awards, 2017. Premiums are based on home insurance of $450,000 and contents insurance of $125,000, with a $500 excess.

On top of these premiums, you’ll need to pay an extra 9% in stamp duty if you live in Queensland.

This article has a more comprehensive breakdown of the average premiums across each state in Australia.

Compare Home Insurance policies for Queensland

Common exclusions to watch out for…

Even with a home and contents insurance policy, there are certain things that you may not be covered for, known as exclusions. Some of the most common exclusions in Australia are:

  • Leaving your home empty: check with your insurer if there’s a maximum period you can be away for before your cover is void.
  • Having people stay in your house: in most cases, only the people on the insurance certificate are covered, so people housesitting, for example, would not be covered during an event.
  • Not properly securing your home: claims may be rejected if you don’t take proper precautions to lock your home up.
  • Existing damage: new policies may not cover damage that already existed.
  • Stock for your home business: if you work from home, your business capital may not be covered under a standard home insurance policy. You may need business insurance for that.
  • Animal and pet damage: standard policies are unlikely to cover you for damage caused by wild animals like turkeys or feral dogs, while you should check with your insurer if you’ll be covered for damage caused by your pets.
  • Renovations: most insurers won’t cover damage connected to renovations you’ve undertaken.

Ensure that you check the product disclosure statement (PDS) of your chosen policy before taking it out, so you can be aware of what you are and aren’t covered for. And as always, make sure you check out as many of the policies available in Queensland as you can, using Canstar’s website:

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