What is the cheapest building insurance?

What is cheapest building insurance in Australia in 2025-2026 according to Canstar and Finder is Budget Direct, Youi and Virgin Money, with Budget Direct cheapest $1,000 to $1,200 per year for $500K building, versus average $1,200 to $1,800. Cheapest building insurance for $500K building sum insured for average house 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 accidental damage, with online discount 15% and higher excess $1,000 saving $100. 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. Average building insurance $1,200 to $1,800 from NRMA $1,400 to $1,800, Allianz $1,300 to $1,700, AAMI $1,300 to $1,600. 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, average $1,500 to $2,200. So cheapest building insurance 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, 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.