How much does it cost to insure a house in Australia?

How much it costs to insure a house in Australia in 2025-2026 is $1,200 to $1,800 per year for building insurance alone for $500K sum insured for average 3-bedroom house, and $1,800 to $2,500 per year for combined building $500K and contents $80K, according to Canstar, Finder and Insurance Council. Building insurance alone for $500K costs $1,200 to $1,800, for $700K $1,500 to $2,200. Contents alone $80K $400 to $800. Combined discount 10% makes $1,800 to $2,500 for average 3-bed. For 2-bed unit, building via strata $500 to $800 plus contents $300 to $500, total $800 to $1,300 for owner. For 4-bed house $700K building and $100K contents, $2,500 to $3,500 per year. Location affects cost, NSW average $1,900, VIC $1,700, QLD $2,200 due to flood and cyclone, WA $1,600, SA $1,500, TAS $1,400, NT $2,800. Cheapest providers Budget Direct, Youi and Bingle $1,200 to $1,600 combined, NRMA and Allianz $1,900 to $2,800 for comprehensive with full flood and accidental damage. Premiums increased 20% to 30% in last 2 years due to natural disasters like 2022 floods $6B claims and rebuild costs up 40% from $300K to $500K average rebuild. Factors include flood zone can double to $5K to $10K, construction, age, security and excess $500 to $1,000. So cost to insure house $1,200 to $1,800 building alone, $1,800 to $2,500 combined.