Most insurers use the same resource to measure flood risk, but this could be reducing competition for consumers.
The best and cheapest home insurance in every state
Discover the top rated and most affordable home insurer in your state, based on our expert analysis of price and cover.
Last updated: 22 Sep 2025
Home insurance is essential if you own your own place. But with so many home and contents policies on the market, it’s difficult to know where to start looking.
On this page:
- How much does home and contents insurance cost in Australia?
- Cheapest insurers by state
- How to choose the right home insurance policy
- Best value home and contents insurance by state
In our home and contents review we use a national price rating to assess value for money. But in this article we analyse prices state-by-state to find the cheapest home insurance in each location.
We then use this information combined with our expert analysis of what each policy covers to reveal the best value insurance policies across the country.
How much does home and contents insurance cost in Australia?
The cost of home insurance is continuing to rise at a rapid rate, adding more unwelcome financial pressure to households.
We crunched the numbers to see how much Australians are paying for home and contents insurance across the country.
Text-only accessible version
Australian Capital Territory $2918
Far North Queensland $4923
New South Wales $4648
Northern Territory $4774
Queensland $4608
South Australia $2293
Tasmania $2889
Victoria $2951
Average annual premiums for combined home and contents policies in each state. Based on thousands of market representative quotes for 56 different products. Quotes per state ranged from up to 37 quotes per product in the ACT to over 1500 per product in Queensland, collected in July 2025.
Cheapest insurers by state
We recommend regularly reviewing your insurance policy to make sure you’re only covered for what you need, and that you’re getting the best price for your cover.
We found the cheapest insurance products in each state so you can check whether they’re right for you. These policies don’t necessarily provide the best cover, however, so make sure you read the product disclosure statement (PDS) and learn more about the cover details of these policies in our home and contents comparison before making the switch. We used the same method to calculate Price scores we use in our comparison, but limited the quotes by state. We looked at over 56 products, with the number of quotes pre product ranging from up to 37 in ACT to over 1500 in Queensland.
We reveal the best value policies further down, exclusively for CHOICE members. If you’d like to make sure you’re getting the best value for your dollar, sign up or log in below.
Australian Capital Territory
Westpac Home – Price score for ACT: 96%
Allianz Home and Contents – Price score for ACT: 95%
Apia Home and Contents – Price score for ACT: 81%
The average prices for the products above range from $2110 to $2260. While these are the cheapest policies on the whole, insurance premiums vary according to many factors including sum insured, excess and risk profiles, so they may not necessarily be the cheapest for you.
New South Wales
Westpac Home – Price score for NSW: 89%
Allianz Home and Contents – Price score for NSW: 87%
The average prices for the products above range from $3493 to $4178. While these are the cheapest policies on the whole, insurance premiums vary according to many factors including sum insured, excess and risk profiles, so they may not necessarily be the cheapest for you.
Northern Territory
QBE Home – Price score for the Northern Territory: 90%
AAMI Home and Contents – Price score for the Northern Territory: 89%
The average prices for the products above range from $3225 to $3516. While these are the cheapest policies on the whole, insurance premiums vary according to many factors including sum insured, excess and risk profiles, so they may not necessarily be the cheapest for you.
Queensland
AAMI Home and Contents – Price score for Queensland: 86%
Apia Home and Contents – Price score for Queensland: 82%
The average prices for the products above range from $3475 to $4000. While these are the cheapest policies on the whole, insurance premiums vary according to many factors including sum insured, excess and risk profiles, so they may not necessarily be the cheapest for you.
Far North Queensland
QBE Home – Price score for FNQ: 92%
Westpac Home – Price score for FNQ: 83%
Allianz Home and Contents – Price score for FNQ: 82%
The average prices for the products above range from $3205 to $4390. While these are the cheapest policies on the whole, insurance premiums vary according to many factors including sum insured, excess and risk profiles, so they may not necessarily be the cheapest for you.
South Australia
QBE Home – Price score for South Australia: 92%
Apia Home and Contents – Price score for South Australia: 84%
AAMI Home and Contents – Price score for South Australia: 80%
The average prices for the products above range from $1439 to $1718. While these are the cheapest policies on the whole, insurance premiums vary according to many factors including sum insured, excess and risk profiles, so they may not necessarily be the cheapest for you.
Tasmania
RACT Home and Contents – Price score for Tasmania: 84%
Westpac Home – Price score for Tasmania: 83%
QBE Home – Price score for Tasmania: 83%
Apia Home and Contents – Price score for Tasmania: 80%
The average price for the products above range from $1990 to $2350. While these are the cheapest policies on the whole, insurance premiums vary according to many factors including sum insured, excess and risk profiles, so they may not necessarily be the cheapest for you.
Victoria
QBE Home – Price score for Victoria: 85%
Westpac Home – Price score for Victoria: 85%
AAMI Home and Contents – Price score for Victoria: 80%
Apia Home and Contents – Price score for Victoria: 80%
The average prices for the products above range from $2295 to $2705. While these are the cheapest policies on the whole, insurance premiums vary according to many factors including sum insured, excess and risk profiles, so they may not necessarily be the cheapest for you.
Western Australia
Apia Home and Contents – Price score for WA: 95%
GIO Classic – Price score for WA: 90%
AAMI Home and Contents – Price score for WA: 89%
Suncorp Classic – Price score for WA: 88%
The average prices for the products above range from $1734 to $1852. Note that these are the cheapest policies on the whole, but since insurance premiums vary according to many factors including sum insured, excess and risk profiles, it doesn’t necessarily mean they’ll be the cheapest for you.
How to choose the right home insurance policy
If you want real value for money in insurance, however, you also need to look at what’s covered by each policy. To do this yourself, you’ll need to go through the policy documents for each product and compare the points of coverage that are important to you. Or you could use our cover score, which is calculated by our insurance experts and is available to CHOICE members.
We look at how insurers cover over 501 different things, and allocate points for everything, from whether the policy includes an under-insurance safety net and flood cover, to how much they’ll pay for food spoilage during a blackout, or furniture damaged when moving house. We then convert this to a percentage so you can easily compare the level of cover between one policy and another.
Best value home and contents insurance by state
We have used our cover score with state-based prices to reveal the policies that offer the best bang for your buck in your state. Log in to unlock this members-only content, or join CHOICE to get instant access to all of our expert, independent reviews.
Becoming a CHOICE member also gives you access to a massive library of product and service reviews and comparisons based on our rigorous independent lab testing and expert knowledge so you can choose products and services with confidence.
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