2023 Home and Contents Insurance Awards

Australia’s largest comparison site, Canstar, releases its
2023 Home & Contents Insurance Awards.

Released: 29 August, 2023

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 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: NSW
Contents Insurance Award – Outstanding Value: VIC

With AAMI’s high level of cover for a competitive price, the provider has maintained their national awards across home & contents insurance, home insurance and contents insurance, along with a number of state awards.

Founded in 1969, AAMI is part of the Suncorp Network. AAMI home and contents insurance products are issued and underwritten by AAI Limited.

ANZ

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

Canstar Researchers found ANZ’s strong performance in the majority of consumer profiles Canstar Researchers considered awarded them the national Contents Insurance Award, along with a number of state and territory awards.

ANZ was founded in 1835 as the Bank of Australasia, merging with Union Bank of Australia to form Australia and New Zealand Bank (ANZ) in 1951. As of 3 July 2023, ANZ home and contents insurance products are issued and underwritten by CGU (previously issued by QBE).

Australia Post

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

Australia Post is a government business enterprise that operates commercially and does not receive any tax funding from the Australian government. Australia Post home and contents insurance products are issued and underwritten by QBE. All claims are also managed by QBE.

Budget Direct

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

Budget Direct continues to offer some of the most competitively priced policies in the market, helping it maintain its national Awards for Home and Contents Insurance and Home Insurance.

Budget Direct is a large Australian general insurance provider, claiming to have insured more than 3 million Aussies since it was founded in 2000. The company’s home and contents insurance products are underwritten by Auto & General Insurance Company Limited.

GIO

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

With premium reductions year on year, Canstar Researchers found GIO’s home and contents insurance to offer vast coverage for consumers, resulting in a high feature score.

GIO Australia was established in 1927 as the Government Insurance Office. GIO home and contents insurance is issued and underwritten by AAI Limited.

Kogan Insurance

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

Kogan Insurance was established in 2017 and is part of the major Australian online retailer Kogan. Kogan home and contents insurance products are underwritten by QBE.

QBE

Home & Contents Insurance Award – Outstanding Value: Australia
Home Insurance Award – Outstanding Value: Australia
Home & Contents Insurance Award – Outstanding Value: North QLD (north of Rockhampton)
Home Insurance Award – Outstanding Value: North QLD (north of Rockhampton)
Contents Insurance Award – Outstanding Value: North QLD (north of Rockhampton)
Home & Contents Insurance Award – Outstanding Value: SA
Home Insurance Award – Outstanding Value: SA
Home & Contents Insurance Award – Outstanding Value: VIC
Home Insurance Award – Outstanding Value: VIC

Canstar Research continues to find outstanding value in QBE’s home and contents insurance products, allowing them to maintain its national Awards, along with several state Awards.

With origins dating back to 1886, QBE Australia is part of the QBE Insurance Group. QBE home and contents insurance products are issued and underwritten by QBE Insurance (Australia) Limited.

RACQ

Home Insurance Claims Award – Most Satisfied Customers

Through our Most Satisfied Customers research, consumers rated RACQ highly in all the claim categories considered, subsequently winning them the Most Satisfied Customers Award for Home Insurance Claims.

As a customer-owned institution, the Royal Automobile Club of Queensland (RACQ) has been operating for over 117 years and claims to have over 1.7million members. RACQ home insurance products are issued and underwritten by RACQ Insurance Limited.

Suncorp Insurance

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

Retaining its national Contents Insurance Award, Suncorp Insurance has also picked up a number of state and territory Awards for its relatively stable year on year premiums.

The Suncorp Group is an Australian financial services organisation with a heritage that goes back to 1902. Suncorp Insurance provides home and contents insurance products issued and underwritten by AAI Limited.

Youi

Home Insurance Award – Outstanding Value: NSW

Canstar found Youi’s home insurance premiums to be the most competitive in NSW, securing them the Award for the state.

Standing for ‘You Insured’, Youi began operations in 2008 but can trace back its origins to 1998 through its sister company, OUTsurance.

Youi home and content insurance products are issued and underwritten by Youi Pty Ltd.

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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, Ratings Manager

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.