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Homeowners Insurance

Cover for your house and valuables, with optional complimentary smart sensors from Honey Insurance to help reduce risk.

Get a quote

Why us?

Bank Australia

Australia's first customer-owned bank, with a 65+ year legacy of shared values for people and the planet, offering cover for our customers.

24/7 online claims lodgement

There’s never a good time for accidents. Our friendly Australia-based team can help you lodge claims when you need it most.

Trusted partners

We’ve partnered with Honey Insurance and RACQ Insurance to offer cover for your unique life situation.

Attention: Bank Australia customers with an Allianz Insurance policy
If you have purchased a policy before 18 October 2024 insured by Allianz Insurance, you'll be able to read more about your policy and submit a claim here.
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Summary of benefits

Flood, fire or storm

If your home is destroyed by the weather, we’ll cover reconstruction and replace your eligible contents.

Home office

Cover for eligible damage to your equipment with up to $20,000 of home office cover.

Water damage

If your home and contents are damaged by water, you’re covered for the clean up and repair costs.

Temporary accommodation

When you have to evacuate, find a place to live for 12 months or up to 10% of your sum insured.

Counselling services

After an insured event, get cover for counselling services with a registered practitioner.

Rebuilding your home

On top of your agreed sum insured, we’ll cover up to 20% of demolition fees and 10% of redesign fees.

Theft or vandalism

Get covered for the cost of replacing eligible stolen or vandalised contents with new ones.

New for old

Cover for the replacement of eligible contents at the item’s value today, not its depreciated value.

Liability and legal protection

If a visitor gets hurt in your home, get cover for medical expenses or the cost of a lawyer.

These are only some of the highlights and benefits of our cover options for homeowners. Terms and conditions apply. Please refer to the Product Disclosure Statement (PDS) for details on insured events that can impact claims, as well as other exclusions and limitations. Our TMD and FSG will also help you decide if the cover is appropriate for you.

Optional Cover

Accidental damage

Cover for eligible damage or loss to your home and/or contents due to an accidental event that occurred at home.

Individual items

Extra protection for your most valuable items that goes beyond your included contents cover.

Away from home

Cover for your eligible contents when you’re on the move anywhere in Australia and New Zealand.

Mobile phones

Keep connected with cover for lost or damaged mobile phones up to the agreed sum insured.

Small business

Cover for eligible lost or damaged equipment or stock used to run your small business up to $20,000.

Motor burnout

Repair or replacement for the burnout of electric motors in appliances under 10 years old.

These are only some of the highlights and benefits of our cover options for homeowners. Terms and conditions apply. Please refer to the Product Disclosure Statement (PDS) for details on insured events that can impact claims, as well as other exclusions and limitations. Our TMD and FSG will also help you decide if the cover is appropriate for you.

Save up to 8% on your premium with sensors*

Receive complimentary smart home sensors (worth $250) that can alert you to avoidable mishaps like fire, water damage and theft. All you need is WiFi, a smartphone and active sensors to be rewarded up to 8% off your premium every year*.

Find out more

What can the sensors detect?

Sensors will automatically alert you when something is wrong with a notification to your smartphone.

Water leaks
Open doors and windows
Temperature changes
Sounding alarms
Mould risk

Preventing accidents starts here

Opt in for sensors when you take out home and contents insurance.
Easily install sensors around your home in just a few minutes.
Get alerted on your smart phone when an event is triggered.

Frequently asked questions

What is homeowners insurance and why is it important?

Homeowners insurance can cover you for both your home’s building and contents in the case that they need repair, rebuilding or replacement after an insured event. This includes protection from unpredictable weather and the impacts of cyclones, floods, storms and bushfires. Homeowners insurance also protects you against things like theft, damage and legal liability.

What am I covered for?

Homeowners insurance covers your home and/or contents against loss or damage as a result of an insured event. For a full list of the insured events we cover, please refer to our PDS.

How much should I insure my home for?

We aren’t able to provide you with advice on the replacement costs of your home or how much to insure it for. Instead, we use the information you give us and data sourced from third parties to suggest an amount of cover you should have. You should use this suggestion as a guide only.

When considering how much you should insure your home for – often referred to as the sum insured – you should include the full cost to rebuild your home, including the cost of structural improvements on the property. But don’t include land value. Our policies include an allowance for demolition and site clearance, as well as professional fees. You should also consider increased building costs to meet stringent local council building requirements. If you are unsure of the replacement cost, a builder or architect may be able to assist you.

We recommend that you use a home building calculator to determine independently an appropriate sum insured for your needs, which you can then compare to the guide provided by us during your quote.

How is my premium calculated?

Your premium is based on a number of things, including:

  • What you choose to insure and how much you choose to insure it for
  • Where your home is and risk information specific to your location (e.g. the likelihood of a flood, cyclone or bushfire, or crime rates in your suburb)
  • Features specific to your home (e.g. building materials, the age of the building, and security features)
  • The excess amount you have chosen
  • Your age

In most cases, the higher the risk of loss or damage, the higher the insurance premium. The chance of loss or damage is different for everyone, so we calculate your premium based on your individual circumstances.

Can I get building insurance if my home is under strata title?

Normally, we can’t insure homes under strata title. They’re insured under a body corporate. There are a few instances where we can offer building insurance for strata title properties. We may also be able to offer contents insurance to cover any eligible fittings and fixtures that aren’t covered as part of the strata insurance. If you are unsure, give us a call on 132 888. Our team will be happy to chat things through with you.

Supporting 
vulnerability

Need additional assistance?
Head to support page for more information.

Disclaimers

For more information or if you want to chat about your Bank Australia Insurance cover, contact us on 132 888 or visit our website at insurance.bankaust.com.au

Bank Australia Limited ABN 21 087 651 607, AFSL 238431 arranges this insurance as an agent for Honey Insurance Pty Ltd ABN 52 643 672 628, AFSL 528244. Insurance issued by RACQ Insurance Limited ABN 50 009 704 152, AFSL 233082 and distributed by Honey Insurance Pty Ltd and Bank Australia Limited (on behalf of Honey Insurance Pty Ltd). Terms, Conditions, limits and exclusions apply. This is general advice only and does not take into account your personal objectives, financial situation or needs and may not be right for you. If you purchase a general insurance product, Bank Australia Limited is paid a commission which is a percentage of your premium. Always read the PDS, any applicable SPDS, FSG and TMD available at insurance.bankaust.com.au/documents before making any decision.

*The Smart Home Program discount will be applied to your premium if you install and keep the smart home sensor kit operational. Each month we will assess your ongoing eligibility for the Honey Smart Home Program discount, based on your sensors being active. Where your sensors are not active, we may choose to remove your discount for the remaining period of insurance. Please refer to the PDS for full terms and conditions.

Disclaimers about your Allianz policy

Important note: Insurance underwritten by Allianz is no longer available for new insurance policies.

The following product information is for existing Allianz insurance policyholders:
If you first purchased your policy before 18 October 2024, a different Product Disclosure Statement applies and your policy is underwritten by Allianz Australia Insurance Limited (Allianz) ABN 15 000 122 850 AFS Licence No. 234708. This will remain in effect until your next renewal date after 18 October 2025. Please refer to the documents sent to you with your latest policy terms, or contact Allianz on 13 26 64 for assistance.

To find out more or make a claim, simply visit Allianz website Claim Notification or call 13 10 13.