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Review by our insurance writer Gary Hunter
Budget Direct offers 3 home insurance policies: Home and Contents Insurance, Home Insurance and Contents Insurance. It also does Landlord Insurance.
Here are some main insured events covered by a Budget Direct Home Insurance policy.
It's underwritten by Auto & General Insurance Company Limited and, like most insurers, you'll need to pay an excess when you make a claim – you can choose between 2. Policies come with a cooling-off period of 21 days, which is the industry standard. This means if you want to cancel within the first 3 weeks of taking out a policy – as long as you haven't made a claim – you won't be charged.
If you want more information on what's covered, you can see Budget Direct's PDS (product discloure statement) or check out our guide on general insured events.
We looked at home insurance complaint data from the Australian Financial Complaints Authority (AFCA) between July to December 2020. The data explores different underwriters and compares their business size to the number of complaints processed.
Budget Direct is underwritten by Auto & General Insurance Company Limited, so we've compared their data to that of Youi and Westpac who have different underwriters.
It's also important to highlight that the released data is based on underwriters, not specific home insurance brands. That is, Budget Direct will share this data with other brands underwritten by Auto & General Insurance Company Limited.
Here are some things we noticed about Budget Direct and their underwriter:
When comparing insurers, keep in mind that insurers with a larger market share serve more customers, so can potentially get more complaints.
Budget Direct is one of Australia's most popular home insurers for a reason – it's one of the cheaper providers around. However, if you want cover for floods or accidental damage, you'll need to pay extra.
To compare Budget Direct's home insurance policies side-by-side with other providers, you can head here.
If you've held, or currently hold, a Budget Direct Home Insurance policy, we'd love to hear from you. Your reviews help other Australians decide if Budget Direct is right for them. Some reviews are from a survey commissioned by Finder.
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Is accidental damage caused by flooding covered? ( Such as from forgetting bath taps on)?
Hi Anna,
Thanks for contacting Finder.
No, Flood is not included on any of Budget Direct’s policies but you may have it added as it is one of their optional benefit. Also, each of their policy has an ‘Escape of liquid’ which will cover the damages caused by burst or leaking water pipes and overflowing sinks, basins, baths and appliances.
I hope this helps.
Cheers,
Ash
Do you offer renters insurance for a situation where I share my house with tenants?
Hi Louise,
Thank you for getting in touch with Finder.
Insurers like Budget Direct offer renter’s insurance for shared accommodation.
You may see other brands that offer this type of home insurance from the link above. You can press the “Get a quote” button to compare quotes from different insurers.
I hope this helps.
Please feel free to reach out to us if you have any other enquiries.
Thank you and have a wonderful day!
Cheers,
Jeni
Dear sir/madam,
I am looking to insure a family home that was built in 2000, in Sunshine West, Vic, 3020. I have been insured with API Insurance for the last 10 years and have not claimed for anything for over 10 years. Recently APIA increased the premium to $55 a month, I decided to look for a home insurance at a cheaper rate with any suitable insurance agent.
Your help in recommending a cheaper and reasonable home insurer is appreciated.
With kind regards,
G. Seifu
Hi G,
Thanks for your message and for visiting Finder.
Ideally, it’s good to continue with the insurance company you are currently with since you’ve been with them since 2000. To understand why your home insurance has become more expensive, you may want to refer to our guide on home insurance cost across Australia. The page also provides tips to reduce your house insurance cost.
If you are decided to change providers, you may compare your options from our list of cheap home insurance. On the page is a comparison table you can use to see which insurer suits you. You can start comparing quotes between insurers by clicking on the “Get a quote” button.
As a gentle reminder, please ensure you review the relevant Product Disclosure Statements/Terms and Conditions before purchasing a policy.
Hope this helps! Feel free to message us anytime should you have further questions.
Regards,
Nikki
I looking a home insurance
Hi Faiyaz,
Thanks for getting in touch with finder. As I read, you mentioned that you are looking for a home insurance. Would you mind letting us know exactly how we can help you further?
Thank you.
Cheers,
Jeni
i simply want to buy landlord insurance with content $30,000. The insurance must strongly protect if lost rent payment by tenant. Because i have already have insurance with RACV building and content. The property will be renting out on 23/9/2017
Hey Joyce,
Thank you for reaching out to us.
You may compare your options from our list of Landlord Insurance. On the page, is a comparison table you can use to see which insurer suits you. Once you’ve chosen an insurer, you may click on “Go to site” to be directed to their page where you can start your request for a quote.
Before applying, please ensure that you review the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.
I hope this helps.
Best,
Maria