Home insurance buyers should obtain quotes from three providers, because some will match or beat competitors’ premiums, according to Choice.

Small increases in excess can lead to big savings, while many insurers offer better premium deals for new business than for renewals, the consumer group says in its latest magazine.

Choice surveyed 29 insurers, obtained details of 64 policies and collected 5448 quotes in a survey of home and contents cover.

Only 1300 Insurance, Budget Direct, QBE and Youi policies excluded flood cover, according to the standard definition, while AAMI, Allianz and NRMA allow some customers to opt out.

“The majority of the insurers we reviewed now include flood cover regardless of whether or not you live in a flood zone,” Choice says.

Choice compares standard and top policies for young singles with contents-only cover, young owners, mature owners and family scenarios, and makes state comparisons.

CommInsure and CGU are among the “best buys” in all states. SGIO is strong in WA and SA and GIO performs well in Victoria, NT and NSW.

Other groups to feature in the survey include Woolworths, Real Insurance, Australian Unity and ANZ.