Found a cheap Home & Contents policy online?

It’s understandable to look for a cheaper insurance policy via an online insurer, but some policies are cheaper because the coverage offered is a lot less comprehensive than other policies.

If you have received a quote from an online insurer that you are planning to take out, just make sure you ask the following questions.

Is the policy an Accidental Damage or Defined Events policy?

There’s a big difference between these two types of cover with Accidental Damage being the more comprehensive cover. Understand the difference and then decide what type of cover is best for your situation.

Are your Personal Items covered while they are away from the insured address (your house)?

Some cheaper policies exclude this.

Good quality policies cover your personal items Australia wide and Worldwide.

Is Motor Burnout covered? And if so, what are the conditions in the policy around this?

If it is covered, what is the age limit on the items that can be claimed.

Good quality policies cover items up to 15 years old.

Does Removal of Debris need to be included in the Home Building sum insured or is it an additional benefit?

Some people are exposed because they don’t know if the cost to Remove Debris (clear the block) is included on top of their building sum insured as an additional benefit or needs to be included in the building sum insured. We recently processed a claim where the cost to remove debris was over $60,000.

Good quality policies include Removal of Debris as an additional benefit.

Is Temporary Accommodation included, and if so, what are the conditions in the policy around this?

This means that the policy will pay for temporary accommodation if your home is unliveable due to an insured event. We have handled local flood claims where our clients have had to live for up to 12 months in temporary accommodation due to their homes being repaired and our policies have covered the cost of this. Some policies don’t include this or have a very short indemnity period.

A good quality policy will provide 12 months cover.

Contact the team at Provide Insurance to discuss your insurance needs.