Australia Explained: How home and contents insurance works in Australia

Home and contents insurance is a safety net many households expect to rely on during difficult times. But it’s also a financial product that even experts can find challenging to navigate. Whether you own or rent your home, understanding your level of cover, knowing what fine print to look out for, and learning how to manage rising premiums can help you make more informed choices as a consumer.

According to an Actuaries Institute report, as of March 2024, 15 per cent of Australian households were under home insurance affordability stress, meaning premiums cost them over four weeks’ income Credit: Moment RF / Traceydee Photography/Getty Images

Read more