Home building and contents premiums have been under pressure from higher rebuild costs, supply-chain volatility for materials, and more frequent severe weather in parts of Australia. Averages never tell the whole story: a postcode near rivers or cyclone corridors can see quotes far above the median.
Before you renew automatically, update your sum insured against current rebuilding estimates and check whether flood is included, optional, or excluded — definitions differ between policies.
If you change insurers, note waiting periods and any differences in accidental damage or portable contents cover.