If you’re searching for the best value cover for your home and possessions, then look no further than Canstar’s 2022 Outstanding Value Home and Contents Awards.
Canstar’s Home & Contents Star Ratings use a sophisticated and unique ratings methodology that compares prices and features across home and contents insurance products.
We award the best products our 5-Star ratings for Outstanding Home & Contents Insurance, and the best insurer our prestigious award for Insurer of the Year | Home & Contents. This recognises the insurer that delivers consumers outstanding value through its products, services and levels of customer satisfaction.
This year, our expert panel’s research covered 15 products from 11 providers, across three consumer profiles:
- Home & Contents Insurance
- Home Only Cover
- Contents Only Cover
From our research, this year, we have awarded four providers our coveted award for Outstanding Value. These awards enable canny consumers to narrow their search to just the highest-rated insurance providers, those that have been assessed and awarded Canstar’s 5-Star awards for Outstanding Value Home & Contents Insurance:
What does AA Insurance offer?
AA Insurance offers high levels of cover for competitive premiums across all its insurance products. Not only the winner of an Outstanding Value Award, AA Insurance is also the winner of Canstar’s prestigious Insurer of the Year | Home & Contents Award.
AA Insurance’s Home & Contents Insurance cover includes:
- If your home is damaged or destroyed by a natural disaster, AA Insurance will repair, rebuild or pay you up to the total sum insured. If your home is damaged in any other event, you may receive more than the sum insured under its replacement cover
- Up to $20,000 for temporary accommodation your family, including pets
- New-for-old cover on your possessions
- Replacement of locks and keys if the security of your home is at risk following a burglary, theft or loss
- Up to $2000 of hidden water-damage cover
- Legal liability cover up to $2 million
- Range of discounts, including multi-policy discount and AA member discount
- Pay only one excess on claims across multiple policies for a single event
- Home Response provides around-the-clock access to trusted tradespeople across the country
AA Insurance’s Outstanding Value Ratings
AA Insurance’s Home & Contents insurance products earn the following ratings from Canstar’s expert research panel:
- Home & Contents Insurance: 5-Star Rating
- Home Only Cover: 5-Star Rating
- Contents Only Cover: 4-Star Ratings
View Home & Contents Insurer of the Year Award
What does AMP offer?
AMP’s Everyday home insurance includes basic house insurance cover for theft, temporary accommodation and major events. Key benefits include:
- Legal liability cover of $2m for property damage and $1m for bodily injury
- Retaining wall cover of $50,000
- Costs for temporary accommodation are covered for up to 12 months, up to 10% of the home sum insured
AMP’s Everyday Plus is its most comprehensive cover for theft, temporary accommodation, accidental damage and major events. In addition to the features of its Everyday home insurance, Everyday Plus offers:
- SumExtra, which covers you for the full cost of the repair or replacement of your home, even if the cost exceeds your sum insured
- Cover for accidental loss or damage to your home
- Up to $5000 cover for gradual physical damage to your home resulting from water leaking or over flowing from any internal water system
- Damage to plants and gardens
AMP Insurance’s Outstanding Value Ratings
AMP’s Everyday home and contents insurance products earn the following ratings from Canstar’s expert research panel:
- Home & Contents Insurance: 5-Star Rating
- Home Only Cover: 5-Star Rating
- Contents Only Cover: 5-Star Rating
AMP’s Everyday Plus home and contents insurance products earn the following ratings from Canstar’s expert research panel:
- Home & Contents Insurance: 4-Star Rating
- Home Only Cover: 4-Star Rating
- Contents Only Cover: 4-Star Rating
What does Tower offers:
Tower offers customers a choice of three different levels of cover. All three include liability cover, replacement to sum insured and extra cover for fire damage, plus up to $15,000 for sustainability upgrades. Tower’s house insurance policies also offer 1 Airpoint Dollar per $100 you spend on your premium each year. Tower is also a current winner of Canstar’s most recent Outstanding Value Car Insurance Awards.
Standard cover: Cover for gradual damage up to $1000, and temporary accommodation up to $15,000.
Plus cover: Additional benefits include gradual damage cover up to $2000, and temporary accommodation up to $25,000.
Premium cover: Features temporary accommodation up to $30,000, extended carpet cover, and gradual damage from water leaks up to $3000.
Tower’s Outstanding Value Ratings:
Its Standard home and contents insurance products earn the following ratings from Canstar’s expert research panel:
- Home & Contents Insurance: 4-Star Rating
- Home Only Cover: 4-Star Rating
- Contents Only Cover: 5-Star Rating
Tower’s Plus home and contents insurance products earn the following ratings from Canstar’s expert research panel:
- Home & Contents Insurance: 4-Star Rating
- Home Only Cover: 5-Star Rating
- Contents Only Cover: 4-Star Rating
Premium home and contents insurance products earn the following ratings from Canstar’s expert research panel:
- Home & Contents Insurance: 3-Star Rating
- Home Only Cover: 4-Star Rating
- Contents Only Cover: 3-Star Rating
What does Trade Me Insurance offer?
Trade Me offers competitive premiums across all its insurance products. In addition to its home and contents win, Trade Me Insurance has also won back-to-back Outstanding Value Car Insurance Awards for the past two years. Across its simple-to-understand insurance products, it offers an extra discount of up to 15% for Trade Me members, as well as multi-policy discounts of up to 20%.
Home insurance from Trade Me includes:
- Liability protection up to $20m
- $15,000 sustainability upgrade
- Cover of $25,000 for temporary accommodation
- One event, one excess
- $25,000 cover for retaining walls
Trade Me Insurance’s Outstanding Value Ratings
Trade Me’s Home & Contents Plus insurance products earn the following ratings from Canstar’s expert research panel:
- Home & Contents Insurance: 5-Star Rating
- Home Only Cover: 5-Star Rating
- Contents Only Cover: 5-Star Rating
View Outstanding Value Home & Contents Insurance Awards
About the author of this page
This report was written by Canstar’s Editor, Bruce Pitchers. Bruce has three decades’ experience as a journalist and has worked for major media companies in the UK and Australasia, including ACP, Bauer Media Group, Fairfax, Pacific Magazines, News Corp and TVNZ. Prior to Canstar, he worked as a freelancer, including for The Australian Financial Review, the NZ Financial Markets Authority, and for real estate companies on both sides of the Tasman.
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