Home and Contents
Home and Contents
Insure your home against large events such as fire, flood, storm damage etc
Cover for the big disasters
Insure your home against large events such as fire, flood, storm damage etc
Insure your items anywhere
We can provide cover anywhere in the world for all the things you take out of the house with you
Liability Cover
Make sure that if someone hurts themselves on your property that you will be able to defend and pay any damages
Home and contents insurance is important cover and should be considered by all consumers. It seeks to cover the insured for damage to their home as well as the contents of the home.
Most building policies cover the main building, its garage and the other outbuildings, walls, gates, fences, driveways, verandas, patios, in-ground pools and landlord's fixtures and fittings.
Contents include all your personal belongings including carpets and curtains. Many policies have differing limits on jewellery and personal valuables which can limit the cover to your home and not provide cover whilst it is away from your home.
Austbrokers Coast to Coast will also provide guidance on whether you should pay a slightly higher premium and obtain an "Accidental Damage" policy that covers all types of accidental damage including flood.
Consumers should ensure they have appropriate level of cover for their home to ensure they are not underinsured. Insurance cover should always match the replacement cost of the property. Underinsurance could result in consumers paying the gap between their insurance pay-out and the building costs.
Contents insurance should be considered by all consumers, including tenants and renters, who often neglect to insure their household items. It has its limits and consumers should contact their insurer if they have any special items they would like insured separately, such as expensive jewellery or works of art. The Product Disclosure Statement (PDS) will outline the limits and exclusions of the policy.
Consumers should regularly review their contents and update their policy where appropriate. Maintaining an inventory of household items can assist if the policyholder does need to make a claim.
Underinsurance is a serious issue for any policyholder and could result in consumers paying the gap between their insurance payout and the cost of rebuilding. Consumers are responsible for the appropriate valuation of their property for their insurance policy and should contact their insurer if they have any questions.
Any renovations or alterations could affect the insurance value of a property, therefore property owners should review their policy each year and update it if appropriate, and ensure their property is well maintained.
How premiums are calculated
The premium for home insurance is based on the likelihood of a claim being made on your policy in the future. Your insurer may take into account many different factors when calculating your premium, including:
- The level of cover you have chosen
- How your home is occupied
- The construction materials
- The basic excess amount you choose
- Location of your home
- The year your home was built
- How you use your home, for example residential or business use
- Applicable government charges
- The risk profile of the property
Cover for Bikes
If you are a cyclist, your bicycle can be covered automatically under our Superior policy, this cover means that it is covered whilst in use, on a car, in a garage or even overseas, ask us how!
Many insurance policies will require consumers to evaluate the value of their contents. To receive appropriate cover, consumers must provide an honest appraisal of the cost of their contents and insure for the full value of their contents.
Consumers often underestimate the value of their contents. They should re-evaluate their contents at least once a year and update their policy accordingly.
Some of the information above is provided by the Insurance Council of Australia.
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Consumers often underestimate the value of their contents. They should re-evaluate their contents at least once a year and update their policy accordingly.
Some of the information above is provided by the Insurance Council of Australia.
Home and Contents Quote Request
Notice to Intending Insured
The Insurance Contracts Act 1984 came into operation on the January, 1986. The provisions of the Act are very important to all parties to any contract of insurance or proposed contract of insurance (‘the contract”). Some of them require Insurers to provide certain notices, documents and information to the Insureds. After reading this, if any matter relating to the policy wording or proposal is unclear to you or you have any questions at all in relation to the insurance, please contact us for an answer or explanation as soon as possible.
Your Duty of Disclosure
Before you enter into a contract of general insurance with an Insurer, you have the duty, under the Insurance Contracts Act 1984 to disclose to the Insurer every matter that you know or could reasonably be expected to know, is relevant to the Insurer’s decision whether to accept the risk of the insurance and if so, on what terms. You have the same duty to disclose those matters to the Insurer before you renew, extend, vary or reinstate a contract of general insurance.
Your duty, however, does not require disclosures of matter:
1. that diminish the risk undertaken by the Insurer;
2. that is common knowledge;
3. that your Insurer knows, or in the ordinary course of his business, ought to know; and
4. as to which compliance with your duty is waived by the Insurer.
Consequence of Non Disclosure
If you fail to comply with your duty of disclosure, the Insurer may be entitled to reduce its liability under the contract in respect of a claim or may cancel the contract. If your non disclosure is fraudulent, the Insurer may also have the option of voiding the contract from its beginning.