How can I get a discount on home insurance?
Online discounts
A number of home insurers offer discounts to customers who buy or apply for policies online, rather than over the phone or in person. At the time of writing, you can get a discount of up to 30% off your premiums for buying home insurance online (based on insurers in our database). There are also some insurers who offer fixed dollar discounts, such as $50 off your premium, to people who buy online.
Combined home and contents discounts
You may also be able to receive a discount for combining both home insurance and contents insurance into one policy. Based on insurers in our database, you can currently get a percentage discount of up to 15% on your premiums for combining your insurance. Certain insurers may also offer a dollar discount.
Some insurers also offer multi-policy discounts. This gives you a discount if you have multiple policies with the one insurer, such as home insurance and car insurance.
Discounts on home & contents insurance
Here are some of the discounts available at the time of writing from insurers on Canstar’s database (sorted alphabetically by insurer name). Before applying for a policy, consider checking with the insurer to confirm the details of these offers, including any additional eligibility criteria or other conditions that may apply.
1300 Insurance
- Online discount: Up to 10% off your first year’s premium if you buy a new home insurance policy online including optional cover for accidental damage, flood, motor burnout and portable contents (if applicable).
- Combined discount: Up to 10%.
Check with 1300 Insurance for T&Cs.
1st for Women
- Online discount: 15% off your first year’s premium.
- Combined discount: 15% off your first year’s premium.
Check with 1st for Women for T&Cs.
AAMI
- Online discount: $50 off if you buy home and contents insurance online, or $25 off if you buy home or contents insurance online.
- Combined discount: Up to 10%.
Check with AAMI for T&Cs.
Allianz
- Online discount: Up to 10% off your first year’s premium, including policies with optional cover for accidental damage, flood, motor burnout and portable contents (if selected).
- Combined discount: Up to 10%.
Check with Allianz for T&Cs.
Apia
- Online discount: 15%.
- Combined discount: 10% multi-policy discount for holding two or more eligible policies (includes combined home & contents policies).
Check with Apia for T&Cs.
Aussie
- Online discount: Up to 10% off your first year’s premium if you buy a new home insurance policy online including optional cover for accidental damage, flood, motor burnout and portable contents (if applicable).
- Combined discount: Up to 10%.
Check with Aussie for T&Cs.
Australian Seniors
- Online discount: 10% online discount for the first policy year.
- Combined discount: 10% combined home and contents multi-policy discount.
- Plus, a 10% discount for Seniors Card holders, or a 5% discount for non-Seniors Card holders over 50 years old for the life of the policy.
Check with Australian Seniors for T&Cs.
Australian Unity
- Online discount: Up to 10% off your first year’s premium.
Check with Australian Unity for T&Cs.
Bank of Melbourne
- Online discount: 15% off your first year’s premium when you obtain a quote and buy online with the promotional code COVER.
- Combined discount: 10%.
Check with Bank of Melbourne for T&Cs.
BankSA
- Online discount: 15% off your first year’s premium when you obtain a quote and buy online with the promotional code COVER.
- Combined discount: 10%.
Check with BankSA for T&Cs.
Bankwest
- Combined discount: Up to 15%.
Check with Bankwest for T&Cs.
BOQ
- Combined discount: 5%.
Check with BOQ for T&Cs.
Budget Direct
- Online discount: 15% off your first year’s premium.
- Combined discount: 15% off your first year’s premium.
Check with Budget Direct for T&Cs.
Catholic Church Insurance
- Online discount: Up to 10% off your first year’s premium, if you buy a new home insurance policy online including optional cover for accidental damage, flood, motor burnout and portable contents (if applicable).
- Combined discount: Up to 10%.
Check with Catholic Church Insurance for T&Cs.
Coles Insurance
- Online discount: 10%.
- Combined discount: 15%.
Check with Coles Insurance for T&Cs.
CommBank
- Combined discount: Up to 15%.
Check with CommBank for T&Cs.
CUA
- Online discount: Up to 10% off your first year’s premium if you buy a new home insurance policy online including optional cover for accidental damage, flood, motor burnout and portable contents (if applicable).
- Combined discount: Up to 10%.
Check with CUA for T&Cs.
GIO
- Online discount: 10%.
- Combined discount: Up to 15%.
Check with GIO for T&Cs.
Guild Insurance
- Combined and online discount: Up to 20% for buying home and contents insurance online. This is made up of a 10% discount for new applicants on their first year’s premiums and a further 10% ongoing discount for buying a combined home and contents policy.
Check with Guild Insurance for T&Cs.
HSBC
- Combined discount: Up to 10%.
Check with HSBC for T&Cs.
Hume Bank
- Online discount: Up to 10% off your first year’s premium if you buy a new home insurance policy online including optional cover for accidental damage, flood, motor burnout and portable contents (if applicable).
- Combined discount: Up to 10%.
Check with Hume Bank for T&Cs.
ING
- Online discount: Up to 30% off your first year’s premium if you buy home and contents insurance online, or up to 15% off if you buy home or contents insurance online.
Check with ING for T&Cs.
Kogan Insurance
- Online discount: Up to 10% off your first year’s premium.
- Combined discount: 10% (applies for the life of a combined policy). Kogan Insurance says you can also receive a $50 Kogan.com credit if you buy a combined policy.
Check with Kogan Insurance for T&Cs.
NAB
- Online discount: Up to 10% off your first year’s premiums.
- Combined discount: Up to 10%
Check with NAB for T&Cs.
National Seniors
- Online discount: Up to 10% off the first year’s premiums if you buy a new home insurance policy online including optional cover for accidental damage, flood, motor burnout and portable contents (if applicable).
- Combined discount: Up to 10%.
Check with National Seniors for T&Cs.
NRMA
- Combined discount: 5% (loyalty discount for new customers when you take out two eligible policies, with a combined home and contents policy counting as two policies). This discount may be larger if you have more policies with NRMA or have a longer relationship with NRMA.
Check with NRMA for T&Cs.
Ozicare
- Online discount: 15% off your first year’s premium.
- Combined discount: 15% off your first year’s premium.
Check with Ozicare for T&Cs.
QBE
- Online discount: 10%.
Check with QBE for T&Cs.
RAC
- Online discount: Up to $70 off your first year’s premiums if you buy home and contents insurance online, or $35 off if you buy building or contents insurance online.
- Combined discount: 15%.
Check with RAC for T&Cs.
RACQ
- Online discount: Up to a $75 discount if you buy home and contents insurance online, a $50 discount if you buy home insurance online, or a $25 discount if you buy contents insurance online.
- Combined discount: Up to 13%.
Check with RACQ for T&Cs.
Real Insurance
- Online discount: 10% off your first year’s premiums.
- Combined discount: 10%.
Check with Real Insurance for T&Cs.
SGIC
- Combined discount: 5% (loyalty discount for new customers if you take out two eligible policies, with a combined home and contents policy counting as two policies). This discount may be larger if you have more policies with SGIC or have a longer relationship with SGIC.
Check with SGIC for T&Cs.
SGIO
- Combined discount: 5% (loyalty discount for new customers if you take out two eligible policies, with a combined home and contents policy counting as two policies). This discount may be larger if you have more policies with SGIO or have a longer relationship with SGIO
Check with SGIO for T&Cs.
St.George
- Online discount: 15% off your first year’s premium when you obtain a quote and buy online with the promotional code COVER.
- Combined discount: 10%.
Check with St.George for T&Cs.
Suncorp
- Online discount: $100 off if you buy home and contents insurance online, or $50 off if you buy building or contents insurance online.
Check with Suncorp for T&Cs.
Virgin Money
- Online discount: Up to 30% off the first year’s premium if you buy an eligible home and contents insurance policy online, or 15% off the first year’s premium if you buy an eligible home or contents insurance policy online.
Check with Virgin Money for T&Cs.
Westpac
- Online discount: 15% off the first year’s premium when you obtain a quote and buy online with the promotional code COVER.
- Combined discount: 10%.
Check with Westpac for T&Cs.
Woolworths
- Online discount: 10% off the first year’s premium.
- Combined discount: 10% (applies for the life of a combined policy).
- If you are a Woolworths Insurance and Everyday Rewards customer, you can also get 10% off your groceries once a month.
Check with Woolworths for T&Cs.
Source: Providers’ websites as at 7/4/2021.
Compare home and contents policies with Canstar
While discounts and bonuses may sound great, keep in mind that a policy offering an online discount isn’t always better value than one without a discount or bonus. It’s important to take into account the quality of the coverage you’re getting for your money.
Canstar compares home insurance on price and features, to help you determine value. You can compare Home and Contents, Home Only, or Contents Only insurance policies on our website.
If you’re comparing home and contents insurance policies, the comparison table below displays some of the policies currently available on Canstar’s database for an Australian aged under 50, seeking cover in NSW or ACT for a cost to replace building and contents of below $550,000. Please note the table is sorted by Star Rating (highest to lowest), followed by provider name (alphabetical) and features links direct to the providers’ websites. Use Canstar’s home insurance comparison selector to view a wider range of policies.
Cover image source: Eugenio Marongiu/Shutterstock.com
This article was originally written by Dominic Beattie.