What is the cheapest building insurance company in Australia?

What is cheapest building insurance company in Australia in 2025-2026 according to Canstar, Finder and ProductReview is Budget Direct cheapest $1,000 to $1,200 per year for $500K building, followed by Youi $1,200 to $1,500, Virgin Money $1,200 to $1,400 and ING $1,200 to $1,500, versus average $1,200 to $1,800 and most expensive NRMA $1,400 to $1,800 and Allianz $1,300 to $1,700. Cheapest building insurance for $500K building sum insured for average 3 bed house 150 sqm is Budget Direct $1,000 to $1,200 per year with $20M public liability, excess $500 to $1,000, covering fire, storm, flood optional, theft and vandalism, with online discount 15% and higher excess $1,000 saving $100 per year versus average $1,500. Youi second cheapest $1,200 to $1,500 per year for $500K building with flexible excess and good service 4.3 stars. Virgin Money $1,200 to $1,400 per year with 4.1 stars. ING $1,200 to $1,500 with 4.2 stars. Average building insurance $1,200 to $1,800 from NRMA $1,400 to $1,800 4.4 stars best service, Allianz $1,300 to $1,700 4.3 stars, AAMI $1,300 to $1,600 4.2 stars. For example, $500K building in NSW Budget Direct $1,100 per year, Youi $1,300, NRMA $1,600 saving $500 per year with Budget Direct. For $700K building, Budget Direct $1,400 to $1,600 versus average $1,500 to $2,200 saving $100 to $600. So cheapest building insurance company is Budget Direct $1,000 to $1,200 per year for $500K building, Youi $1,200 to $1,500, Virgin $1,200 to $1,400 and ING $1,200 to $1,500, with Budget Direct cheapest due to online discount and higher excess, but check flood inclusion and sum insured accuracy as cheapest may have flood excluded in high-risk zone requiring flood optional extra 10% to 20% $100 to $200 extra.