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Home Building Insurance
Generally designed to cover the residential building and specified permanent fixtures against insured events, subject to the policy's terms, limits and exclusions.
🏠 HOME & CONTENTS INSURANCE — COMING SOONWe’re working on bringing Home & Contents Insurance options to Policy Direct. This page currently provides general information to help you understand your cover options.
COMING SOONHOME & CONTENTS INSURANCE • AUSTRALIA
Home & Contents
Home & Contents
Insurance with Policy Direct
Learn how home and contents insurance can help protect your building, belongings and finances against selected insured events. Policy Direct's Home & Contents insurance quote pathway is coming soon.
✓ Home Building✓ Household Contents✓ Combined Cover
Home & Contents Insurance options are coming soon.
We are currently preparing this section of Policy Direct. For now, use this page as a general guide to understanding Home & Contents Insurance in Australia.
We are currently preparing this section of Policy Direct. For now, use this page as a general guide to understanding Home & Contents Insurance in Australia.
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Protect the Place You Call HomeUNDERSTAND YOUR OPTIONS
What Type of Cover Are You Looking For?
Home and contents policies can be structured differently. The right option depends on whether you need to insure the building, the belongings inside it, or both.
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Contents Insurance
Generally designed to cover eligible household belongings such as furniture, appliances, clothing and other possessions against selected insured events.
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Home & Contents Combined
Combines building and contents protection under a policy arrangement for people who need cover for both their home and eligible belongings.
COMMON INSURED EVENTS
What May Home & Contents Insurance Cover?
Exact cover varies between insurers and policies. Depending on the product, protection may be available for selected events such as the following.
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Fire
Loss or damage caused by fire where covered by the policy.
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Storm
Specified storm-related loss or damage, subject to policy definitions.
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Water Damage
Certain sudden escape-of-liquid events may be covered.
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Theft
Eligible theft or attempted theft of insured contents may be covered.
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Glass Breakage
Specified accidental breakage of fixed glass may be included.
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Lightning
Damage caused by lightning may be an insured event.
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Flood
Flood cover and definitions vary, so the policy wording should be checked carefully.
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Impact Damage
Some policies cover specified impact events, such as falling trees.
BUILDING VS BELONGINGS
Home Insurance and Contents Insurance Are Different
🏠 Building Cover
Building insurance generally focuses on the physical home and specified permanent fixtures. Depending on the policy, this may include:
- The residential building
- Permanent fixtures and fittings
- Garages and some other structures
- Specified rebuilding-related costs
🛋️ Contents Cover
Contents insurance generally focuses on possessions kept at the insured address. Depending on the policy, this may include:
- Furniture and furnishings
- Appliances and electronics
- Clothing and personal belongings
- Other eligible household contents
BEFORE CHOOSING COVER
Important Things to Consider
Price is only one part of choosing insurance. Consider how the policy responds to the risks that matter to your household.
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Sum Insured
Consider the cost of rebuilding the home and/or replacing insured belongings.
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Excess
Check the amount you may need to contribute when making an eligible claim.
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Valuable Items
Some valuables may have sub-limits or need to be separately specified.
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Exclusions
Read the policy documents to understand what is not covered.
SUM INSURED
Why the Amount You Insure Matters
The sum insured is an important part of Home & Contents Insurance. For building insurance, consider what it could cost to rebuild the insured home rather than simply relying on its market value. For contents, consider the cost of replacing the belongings you want insured.
Underinsurance can leave a household with a financial gap after a major loss. Insurers may provide calculators or guidance to help estimate appropriate amounts, but you should check how the particular policy treats sums insured, limits and claim settlements.
General information only: Policy Direct is not currently offering a Home & Contents Insurance quote service on this page. Product features, definitions, insured events, limits and exclusions vary between insurers. Always review the relevant Product Disclosure Statement and other policy documents before purchasing insurance.
Home & Contents Insurance FAQs
These answers provide general information about Home & Contents Insurance in Australia. Individual insurance policies can differ significantly.
1. What is Home & Contents Insurance?
Home & Contents Insurance generally combines cover for an insured residential building with cover for eligible household belongings. You may also be able to purchase building or contents cover separately.
2. What is the difference between home insurance and contents insurance?
Home or building insurance generally covers the physical residential building and specified permanent fixtures, while contents insurance generally covers eligible belongings kept in or around the home.
3. Do I need both building and contents insurance?
It depends on what you need to protect. A homeowner may consider both. A renter will generally not insure the landlord's building but may want contents insurance for their own belongings.
4. What does building insurance generally cover?
Depending on the policy, building insurance may cover the home, specified permanent fixtures, garages and some other structures against listed insured events. Definitions and limits vary by insurer.
5. What does contents insurance generally cover?
Contents insurance may cover eligible belongings such as furniture, appliances, electronics, clothing and other household possessions against specified insured events.
6. Is flood automatically covered?
Do not assume that every policy treats flood in the same way. Check whether flood is covered, the insurer's definition of flood, applicable exclusions and any waiting periods or other conditions.
7. Are storms and fire usually covered?
Fire and storm are common insured events in many home insurance products, but the exact circumstances, definitions, limits and exclusions depend on the policy.
8. What is a sum insured?
A sum insured is the amount used as a limit for specified insured property or cover. For a home, it should take account of potential rebuilding costs; for contents, consider the replacement cost of the belongings you want insured.
9. Is my home's market value the same as the building sum insured?
Not necessarily. Market value can include the value of the land and location, whereas a building sum insured is generally concerned with the cost of rebuilding the insured home and relevant associated costs under the policy.
10. Are jewellery and other valuables covered?
They may be, but policies can apply limits to categories or individual items. Higher-value belongings may need to be specified separately or covered under an optional benefit.
11. Can renters buy contents insurance?
Yes. Renters may consider contents insurance for eligible belongings they own. The building itself is generally the property owner's responsibility to insure.
12. Is landlord insurance the same as Home & Contents Insurance?
No. Landlord insurance is designed for risks associated with an investment property and may include different features. Standard owner-occupier Home & Contents Insurance should not be assumed to provide the same protection.
13. What affects the cost of Home & Contents Insurance?
Factors may include the property's location, construction, rebuilding cost, sum insured, security, claims history, selected excess, optional covers and the insurer's assessment of risk.
14. What is an insurance excess?
An excess is an amount you may need to contribute towards an eligible claim. Different excesses can apply depending on the policy, event or options selected.
15. Can I get Home & Contents Insurance through Policy Direct now?
Not yet. Policy Direct's Home & Contents Insurance quote pathway is coming soon. This page currently provides general educational information only.
COMING SOON
Home & Contents Insurance on Policy Direct
We're working on bringing a Home & Contents Insurance quote pathway to Policy Direct. Until then, explore this guide to better understand the cover types and features you may want to consider.