A tree fell through the roof of this Tugun -Herenhuis during Tropical Cyclone Alfred. Photo: Glenn Hampson
Australians pay up to $ 700 more per year for home and content insurance, since new research showed that every state and territory registered an increase in prices compared to 2024.
Canstar analysis of 25,000 new customer quotes showed that the national average annual home and content premium in the last 12 months by 14 percent or no less than $ 343 jumped.
NSW was confronted with the most important percentage increase with the costs of ensuring at home and assets from 18 percent on an annual basis to an estimated $ 2613 per year.
Northern territorians were confronted with no less than average annual increase of $ 700 (17%) to $ 4814 per year, making it the most expensive state or territory for home and content insurance.
NQ may have experienced the lowest annual increase in home and content insurance with 2 percent ($ 112), but the average of the region was the second highest at $ 4624.
The average costs of premiums also rose $ 431 (16%) in the rest of Qld, $ 341 (17%) in VIC, $ 317 (17%) in bag, $ 287 (17%) in SA and $ 192 (9%) in WA.
Canstar Data Insights Director, Sally Tindall, said that the increases were a steep climb, many households.
“The concern is that some may look to downgrade or completely dump their coverage,” she said.
Floods in the agricultural area around Macknade in North Queensland. Photo: Adam Head
The Canstar report has noticed factors, such as an increasing frequency of extreme weather conditions and the high costs of reconstruction and reinsurance can influence insurance costs.
“Homeowners throughout the country experience rising house insurance costs in a year characterized by wild weather conditions in many regions,” said Mrs. Tindall.
“Claims from ex-tropical Cyclone Alfred alone have exceeded 125,000 for an amount of $ 1.36 billion, according to the insurance council.”
The Canstar report showed that households could save on average $ 766 by switching to another insurer.
The financial comparison site evaluated insurance policies of more than 45 providers, with an analysis of approximately 25,000 quotes for eight regions, three coverage types and a maximum of two different amounts to identify potential savings that are available by switching to a best rated insurer.
Canstar Data Insights Director Sally Tindall. Image: delivered. NSW real estate
The largest potential annual savings can be found in North Queensland ($ 1206), Northern Territory ($ 1172) and the rest of Queensland ($ 921).
“If you are hammered between offering coverage or going without going, try to shop as a first port of approach,” said Mrs. Tindall.
“Other ways to save are the annual payment of your premium instead of monthly, where 41 percent of providers offer up to 21 percent discount for paying for the year in one fixed rate, or increasing your excess to reduce your annual premium, on condition that you have the money to cover the higher excess if you need to claim.
“Insurance is not only for weather-related damage it also protects against chance damage, burglary and theft.
“Even if you are not in a risky weather area, other emergency situations, such as a burst water pipe or a crowded sink, may be covered in your insurance if the emergency situation could not be prevented.”
Floods in Laidley in March after ex-tropical Cycloon Alfred. Photo: Michael Nolan
Average annual home and content insurance premiums
| 2024 average | 2025 average | Change | |
| NSW | $ 2,210 | $ 2,613 | $ 403 (18%) |
| Vic | $ 1,958 | $ 2,299 | $ 341 (17%) |
| NQ | $ 4,512 | $ 4,624 | $ 112 (2%) |
| Qld | $ 2,735 | $ 3,166 | $ 431 (16%) |
| on | $ 1,646 | $ 1,933 | $ 287 (17%) |
| By | $ 2.032 | $ 2,224 | $ 192 (9%) |
| That | $ 1,838 | $ 2,155 | $ 317 (17%) |
| Nt | $ 4,114 | $ 4,814 | $ 700 (17%) |
| National | $ 2,452 | $ 2,795 | $ 343 (14%) |
(Source: Canstar)
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