Home Building & Contents Insurance
Whats Is Buildings Insurance Cover?
Buildings Insurance Cover insures the fittings in your home. It covers the actual house including permanent fixtures such as walls, roofs, floors, ceilings, windows and doors, built-in cupboards, fitted kitchen and bathroom suites. Your building may also include pools, tennis courts and any domestic sheds or structures permanently built on the property. Standard buildings insurance policies normally cover the full cost of repair in case of lightning strike, fire, storm damage, falling trees, flood, earthquake, vandalism, vehicle collisions with the building and bursting of the plumbing.
What Is Contents Insurance?
Contents Insurance covers your belongings such as the financial cost of repairing or replacing your personal household possessions and furnishings, such as carpets, blinds & curtains and other decorative items, furniture, refrigerator, washing machine, stereo, TV, computers and other electrical appliances, clothing and even toys. It also covers household items that belong to you, and to family members who live with you.
Sporting equipment and motorised wheelchairs may be included in these policies but they do not include items permanently attached to the building or insured address or portable items that can be taken outside your home.
You may take out extra coverage to secure things like your jewellery, cameras, mobile phones and sporting equipment when not in use, from accidental loss or damage.
Items brought by visitors or friends are not usually covered by these policies, unless their names are listed on the policy by yourself.
If you are a renter or tenant, your possessions are not covered by your landlord’s insurance policies. You need to take out your own Contents insurance policy.
Review Your Policy Annually
It is always important to review your policy annually to ensure your insurance is up to date. Underinsurance is prevalent in Australia and if you suffer a total loss there is no point risking having to pay to rebuild your home and replace your contents (or worse, not being able to afford to).
ARMA Insurance Brokers can help you find the insurers that offer these types of policies with over 50 types of standard insurance for all types of insurable risks and will work with you to get the most appropriate and competitive price for your policy.