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I've just renewed my home/contents insurance and if I'd had the time, I would have shopped around.
They were going to charge me $166 per month for $95K of contents insurance and $850K for building insurance (we live in a fire danger area).
So I kept the contents insurance the same at $95K but reduced the building insurance to $650K which reduced the premium to $139 per month.
No idea if that's a good deal or not.
we pay around $90 for both home and contents, that's for $80k contents and around 600k for the build.
Ours is $86 a month. Home insured for $250k, contents $50k
We pay yearly but worked it out to just over $90 a month for $550k house and 150k contents. We are over insured but had to be otherwise we couldn't get the loan.
We are near a river so have opted for cover that includes flooding and pay $170 a month. Its expensive but most of the cheaper options would not cover flood damage, I wonder if the fire risk may be why yours is so high. Have you got a few quotes? We had another quote for $220!
Ours would be about $1200 per year from memory, but we also have public liability insurance included in that. think it sounds like a reasonable amount to pay though. You could probably also drop back the contents a bit too - the way we see it, there is a lot of stuff that we have, that can't be replaced kwim? And a lot of stuff that we probably don't *need* to replace either, so for a family of 6, our contents insurance would only be about $85k?
About $1000pa this time around (up 30% :wall:) About $90k for contents and "unlimited rebuild" as in they put back another 3 bedroom house of similar size with technically no set budget. The fire overlay has moved to now cover our house plus they have hit us with flood coverage this time. (we don't really need flood cover where we are)