What should first home buyers know about choosing a home insurance excess?

24 Sept 2026, 20:21
Q A Reader Asker

What should first home buyers know about choosing a home insurance excess?

A SureCover Team Answered by

An insurance excess is the amount you generally pay towards an approved claim before the insurer contributes. First home buyers should check whether their policy has standard, storm, flood, or other special excesses, as these can vary depending on the event. A higher excess may reduce the premium, but it means paying more if you claim, so choose an amount you could afford unexpectedly. Compare policy terms carefully and confirm any lender requirements with your insurer or mortgage provider.

This Q&A is editorial content produced by the SureCover team. It does not guarantee any individual outcome.
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