How can I find cheap contents insurance?

How to find cheap contents insurance in Australia involves comparison, increasing excess and reducing risk. First, use comparison sites like Compare the Market, Finder, Canstar and iSelect to get quotes from Budget Direct, Youi, Bingle, Virgin Money and AAMI, as prices vary 20% to 40% for same cover, with Budget Direct often cheapest $300 to $500 per year for $80K contents versus NRMA $500 to $800. Second, increase excess from $100 to $1,000, which can reduce premium 10% to 20%, for example $500 excess saves $80 per year. Third, reduce sum insured to accurate value, not overinsure, use insurer contents calculator to estimate $50K to $100K, not $150K if not needed, as premium based on sum insured. Fourth, improve security with deadlocks, alarm and smoke detectors, giving 5% to 10% discount. Fifth, bundle building and contents together with same insurer for 10% discount. Sixth, pay annually not monthly to avoid 5% monthly fee. Seventh, maintain no claims bonus, with 20% discount for no claims. Eighth, choose basic cover not accidental damage if you do not need it, saving $100. Ninth, check if contents covered under strata or landlord insurance. Tenth, look for online discounts 15% from Budget Direct and Virgin. So to find cheap contents insurance, compare quotes, increase excess, accurate sum insured, security, bundle and online discount, with cheapest typically Budget Direct, Youi and Bingle for renters and homeowners.