2024 Home and Contents Insurance Awards

Canstar releases its
2024 Home & Contents Insurance Awards.

Released: 3 September, 2024

About this year’s awards

To determine the winners, home and contents insurance products are assessed using our sophisticated ratings methodology unique to Canstar. Our Star Ratings are designed to help Australians narrow their search and find the right policy for them by providing a shortlist of products that have been assessed and ranked.

The national, state and territory Outstanding Value Awards are based on a combination of these Star Ratings, and recognise the insurance providers with the best cumulative performance across price and features in the range of consumer profiles assessed.

Canstar also surveyed hundreds of Aussie home and contents insurance policyholders to see how satisfied they were with their provider’s claims process, as part of our Most Satisfied Customers – Home Insurance Claims Award.

About the National Award winners

(Winners are listed alphabetically)

AAMI

Home & Contents Insurance Award – Outstanding Value: Australia
Home Insurance Award – Outstanding Value: Australia
Contents Insurance Award – Outstanding Value: Australia
Home & Contents Insurance Award – Outstanding Value: QLD (Rockhampton and all areas south)
Home Insurance Award – Outstanding Value: QLD (Rockhampton and all areas south)
Contents Insurance Award – Outstanding Value: QLD (Rockhampton and all areas south)
Home & Contents Insurance Award – Outstanding Value: WA

AAMI has maintained its National Awards in Home, Contents and Package this year. AAMI continues to offer a high level of cover at a competitive premium across the market. A stand out provider in Queensland, AAMI maintains its State Awards in all three categories, as well as picking up the Packaged Home & Contents Award in WA this year.

Allianz Australia

Home & Contents Insurance Award – Outstanding Value: Australia
Home Insurance Award – Outstanding Value: Australia

Allianz Australia was recognised with a National Award for Home and Package this year, having performed consistently well across the regions they insure (despite not writing policies for NT). Allianz’s increased performance was driven by its competitively priced policies relative to the market. Allianz offers a variety of ways for customers to customise their policy to suit their needs, including the option to pay monthly at no extra cost and optional cover add-ons for flood, accidental damage, motor burnout, domestic worker’s compensation, and portable contents.

Budget Direct

Home & Contents Insurance Award – Outstanding Value: Australia
Home Insurance Award – Outstanding Value: Australia

Budget Direct continues to provide some of the most competitively priced policies in the market, and has once again picked up a national award in the Home and Package profiles. Budget Direct continues to be consistent, strong performers in the regions they do insure (although they currently do not insure North Queensland or Northern Territory residences).

RACQ

Home Insurance Claims Award – Most Satisfied Customers

RACQ has retained its Most Satisfied Customers Home Insurance Claims award. Consumers who said they made a claim rated RACQ highly in all of the claim categories considered, topping 4 out of the 6 categories assessed.

Suncorp Insurance

Contents Insurance Award – Outstanding Value: Australia
Contents Insurance Award – Outstanding Value: NSW
Contents Insurance Award – Outstanding Value: TAS
Contents Insurance Award – Outstanding Value: WA

Suncorp Insurance retains its National Contents award this year, along with several state Contents awards. Suncorp offers three policy options to choose from, with different levels of cover to suit different cover needs. Suncorp Insurance’s Classic Contents policy leads on price in a number of profiles, while its Classic Advantages leads on features. 

Westpac (Including Bank of Melbourne, BankSA, and St. George Bank)

Home & Contents Insurance Award – Outstanding Value: Australia
Home Insurance Award – Outstanding Value: Australia
Contents Insurance Award – Outstanding Value: Australia
Home & Contents Insurance Award – Outstanding Value: NSW

Westpac Group is recognised with a National Award for Home, Contents and Package this year, along with a Packaged State Award in NSW. Westpac Group performed consistently well across most underlying profiles, offering consumers a well-balanced policy with comprehensive coverage, including standard flood cover, and affordable premiums. The Westpac Group includes Bank of Melbourne, BankSA, and St.George Bank.

YOUI

Home Insurance Award – Outstanding Value: Australia
Home Insurance Award – Outstanding Value: NSW

YOUI has picked up a National Award for Home Insurance this year. Despite not writing policies for North Queensland and the NT, YOUI’s performance across the regions they do insure secured them the win. YOUI performed particularly strongly in NSW, where they retained its Home Insurance State Award, offering some of the most competitive premiums in the market for this profile.

Does Canstar rate other products?

About Canstar

Canstar also has insights and information about financial products and services generally. You can find out about topics such as: interest rates, buy now pay later (BNPL), business products and tax. You may also be interested in discovering more about calculators and resources, such as our rate checker and free credit score tool, to help you with your financial decision-making.

About: Josh Sale, Group Manager, Research & Ratings

Bachelor of Commerce, Economics/Finance dual major, Griffith University. Master of Data Science, Strategy and Leadership, RMIT (ongoing studies)

Joshua Sale is responsible for developing the methodology and delivering Canstar’s flagship Star Ratings, as part of Canstar’s Research team. With tertiary qualifications in economics and finance, he enjoys helping Australians find more suitable financial products by transforming complex calculations into a consumer-friendly Star Rating that explains the values and benefits of different financial products.

As one of Canstar’s company spokespeople, Joshua has participated in print, radio and broadcast interviews with the likes of the Australian Financial Review, news.com.au and Money magazine, along with other leading media outlets, discussing topics such as home loan equity, banking incentive schemes, digital wallets and wider finance trends.

Joshua is known for his ability to simplify complex products and technical information, crunching the data into meaningful insights for consumers about finance. He has analysed several consumer markets across banking, insurance and wealth, and is keenly interested in various topics, ranging from how Australians interact with their superannuation funds, to the dynamic nature of the health insurance market, and collecting and redeeming credit card reward points.

Joshua believes that knowledge is the first step towards empowerment. Even while studying, he facilitated peer-assisted study sessions for economics, and represented his University’s Business School in an academic committee.

You can follow Josh on LinkedIn, and Canstar on Twitter and Facebook.