Budget Direct building insurance: what each policy covers, and who underwrites it
2 building policies from Budget Direct. For each: how the building is valued, whether flood and accidental damage are covered, and what happens once the building is left empty, with the sentence from its own documents. Underwritten by Auto & General Insurance Company Limited.
- Website
- budgetdirect.com.au/
- What it is
- Brand
- Listed on
- Houses and rental properties
- Underwriter
- Auto & General Insurance Company Limited
- APRA
- Authorised by APRA to write new general insurance (listed as Auto & General Insurance Company Limited)
Building policies
Budget Direct Home Building Insurance
- Type
- Home building · Residential
- Sold
- Direct
- Building valued as
- Sum insured, + 25% option
- Flood
- Optional extra
- Accidental damage
- Optional extra
- Left empty
- Extra $1,000 excess after 60 days; no cover at all after 180 days. You must tell the insurer. Must keep it secure, garden and mail tidy and checked regularly, or a claim may be refused or reduced. Unoccupied means nobody sleeping or living there two or more days in a row.
- Who it is for
- Owner-occupiers and landlords of free-standing houses, townhouses, duplexes, terraces or villas; not strata (unless freestanding), and not homes in the NT or above the Tropic of Capricorn.
- Documents
- Home and Contents Insurance PDS (prepared 21 September 2023) (21 September 2023) · Supplementary PDS (prepared 5 March 2026) (5 March 2026) · Key Facts Sheet - Home Building · Target Market Determination (home) (10 July 2025)
- Sum Insured Safeguard is an optional cover that increases the home sum insured payout by up to 25%.
- Flood is not automatically covered; optional Flood cover is subject to underwriting criteria.
- Not available for homes in the NT or above the Tropic of Capricorn (excluding Greater Rockhampton).
The policy
“Budget Direct Home Building Insurance covers your house and outbuildings against loss or damage caused by the following insured events:”
Source: budgetdirect.com.au/home-contents-insurance/building-insurance.html · Confirmed on the insurer's page on 13 November 2026.
How it is sold
“The Online Discount is available to customers who obtain an insurance quote online but purchase the insurance via the contact centre, as long as the customer advises the consultant that they have already received a quote online and provides a valid quote reference number if requested.”
Source: budgetdirect.com.au/home-contents-insurance/building-insurance.html · Confirmed on the insurer's page on 13 November 2026.
How the building is valued
“If the cost exceeds your sum insured, this option will increase the amount we pay by up to an additional 25% of the sum insured stated on your Insurance Certificate.”
Source: ecommerce.disconline.com.au/branding/resources/BUDD/legal/home/HPDSBUDD.pdf · Confirmed on the insurer's page on 13 November 2026.
Flood
“Flood is not automatically covered but you can apply for optional Flood cover.”
Source: ecommerce.disconline.com.au/branding/resources/BUDD/legal/home/HPDSBUDD.pdf · Confirmed on the insurer's page on 13 November 2026.
Accidental damage
“If you want cover for accidents like these, you'll need Accidental Damage cover.”
Source: ecommerce.disconline.com.au/branding/resources/BUDD/legal/home/HPDSBUDD.pdf · Confirmed on the insurer's page on 13 November 2026.
Left empty
“When your home is unoccupied for more than 60 consecutive days and you make a claim, an additional excess of $1,000 will apply.”
Source: ecommerce.disconline.com.au/branding/resources/BUDD/legal/home/HPDSBUDD.pdf · Confirmed on the insurer's page on 13 November 2026.
Who it is for
“own a home in Australia used for residential purposes either as an owner occupier or a landlord.”
Source: autogeneral.com.au/prd/aagwebsite/agca/web/branding/resources/BUDD/legal/home/TMD.pdf · Confirmed on the insurer's page on 13 November 2026.
Budget Direct Landlord Insurance
- Type
- Landlord · Residential
- Sold
- Direct
- Building valued as
- Sum insured, + 25% option
- Flood
- Optional extra
- Accidental damage
- Optional extra
- Left empty
- Extra $1,000 excess after 60 days; no cover at all after 180 days. You must tell the insurer. Must keep it secure, garden and mail tidy and checked regularly, or a claim may be refused or reduced. Unoccupied means nobody sleeping or living there two or more days in a row.
- Who it is for
- Owner-occupiers and landlords of free-standing houses, townhouses, duplexes, terraces or villas; not strata (unless freestanding), and not homes in the NT or above the Tropic of Capricorn.
- Documents
- Home and Contents Insurance PDS (prepared 21 September 2023) (21 September 2023) · Supplementary PDS (prepared 5 March 2026) (5 March 2026) · Key Facts Sheet - Home Building · Target Market Determination (home) (10 July 2025)
- Sum Insured Safeguard is an optional cover that increases the home sum insured payout by up to 25%.
- Flood is not automatically covered; optional Flood cover is subject to underwriting criteria.
- Not available for homes in the NT or above the Tropic of Capricorn (excluding Greater Rockhampton).
- Landlord Options (tenant default; theft and malicious damage by tenants) are optional extras in the same PDS.
The policy
“Budget Direct's Landlord Insurance is similar to our Home and Contents Insurance but with additional optional covers like Tenant Default and Theft and Malicious Damage by Tenants.”
Source: budgetdirect.com.au/home-contents-insurance/landlord-insurance.html · Confirmed on the insurer's page on 13 November 2026.
How it is sold
“The Online Discount is available to customers who obtain an insurance quote online but purchase the insurance via the contact centre, as long as the customer advises the consultant that they have already received a quote online and provides a valid quote reference number if requested.”
Source: budgetdirect.com.au/home-contents-insurance/landlord-insurance.html · Confirmed on the insurer's page on 13 November 2026.
How the building is valued
“If the cost exceeds your sum insured, this option will increase the amount we pay by up to an additional 25% of the sum insured stated on your Insurance Certificate.”
Source: ecommerce.disconline.com.au/branding/resources/BUDD/legal/home/HPDSBUDD.pdf · Confirmed on the insurer's page on 13 November 2026.
Flood
“Flood is not automatically covered but you can apply for optional Flood cover.”
Source: ecommerce.disconline.com.au/branding/resources/BUDD/legal/home/HPDSBUDD.pdf · Confirmed on the insurer's page on 13 November 2026.
Accidental damage
“If you want cover for accidents like these, you'll need Accidental Damage cover.”
Source: ecommerce.disconline.com.au/branding/resources/BUDD/legal/home/HPDSBUDD.pdf · Confirmed on the insurer's page on 13 November 2026.
Left empty
“When your home is unoccupied for more than 60 consecutive days and you make a claim, an additional excess of $1,000 will apply.”
Source: ecommerce.disconline.com.au/branding/resources/BUDD/legal/home/HPDSBUDD.pdf · Confirmed on the insurer's page on 13 November 2026.
Who it is for
“own a home in Australia used for residential purposes either as an owner occupier or a landlord.”
Source: autogeneral.com.au/prd/aagwebsite/agca/web/branding/resources/BUDD/legal/home/TMD.pdf · Confirmed on the insurer's page on 13 November 2026.
Who underwrites and sells it
Underwriter
“This SPDS is issued by Auto & General Insurance Company Limited ABN 42 111 586 353, AFS Licence No 285571.”
Source: autogeneral.com.au/prd/aagwebsite/agca/web/branding/resources/BUDD/legal/home/20260625_SPDSBUDD.pdf · Confirmed on the insurer's page on 13 November 2026.
Auto & General Insurance Company Limited: licence
- AFS licence
- 285571 · AUTO & GENERAL INSURANCE COMPANY LIMITED
- ABN
- 42111586353
- Licensed since
- 15 June 2005
- Principal business
- Toowong QLD 4066
- General insurance
- Licensed to deal in general insurance products
From ASIC's AFS Licensee dataset, release of 11 November 2026, Creative Commons Attribution 3.0 Australia.
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