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Home Insurance Premiums Surge Over 30% for Some Australians

Choice Identifies Insurers with Largest Price Hikes

Home Insurance Premiums Surge Over 30% for Some Australians?w=400

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

Consumer advocacy group Choice has released a report highlighting substantial increases in home insurance premiums across Australia.
The findings indicate that while the average premium rose by 16% over the past year, certain insurers have implemented hikes exceeding 30%.
([theguardian.com](https://www.theguardian.com/australia-news/2025/feb/28/choice-australian-insurance-provider-review-kogan-rac-honey?utm_source=openai))

Notably, Kogan, RAC, and Honey were identified as the insurers with the most significant increases, raising their average premiums by 37.9%, 32.6%, and 30.7%, respectively. These substantial hikes have raised concerns among policyholders about affordability and transparency in the insurance market. ([theguardian.com](https://www.theguardian.com/australia-news/2025/feb/28/choice-australian-insurance-provider-review-kogan-rac-honey?utm_source=openai))

Several factors contribute to these rising costs, including the growing frequency of extreme weather events, increased reinsurance expenses, and escalating costs associated with repairs and rebuilding. Insurers have cited these elements as primary drivers behind the premium adjustments. ([theguardian.com](https://www.theguardian.com/australia-news/2025/feb/28/choice-australian-insurance-provider-review-kogan-rac-honey?utm_source=openai))

For homeowners, these developments underscore the importance of actively managing insurance expenses. Strategies such as shopping around for competitive quotes, considering higher excess options to lower premiums, and implementing risk mitigation measures can be effective in controlling costs.

In summary, the Choice report sheds light on the significant variability in premium increases among insurers. Homeowners are encouraged to stay informed and proactive in managing their insurance policies to ensure they receive value and adequate coverage in a changing market landscape.

Published:Wednesday, 4th Mar 2026
Author: Paige Estritori

Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.

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Replacement Cost:
The amount it would cost to replace or rebuild an insured asset with one of similar kind and quality, without depreciation.

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