The Best Home Owners Insurance Company

Building and Contents

Building And Contents For Cairns And Townsville

Home and Contents insurance covers the cost of rebuilding or repairing your home and helps protect you against things that are out of your control, such as damage from natural disasters like storms and bushfires. It also covers the contents inside the home.

There are two types of home building insurance. First you need to decide which one suits you best:

All home insurance policies have exclusions, caps and limits and these vary between insurers so it is important to ask questions and read the product disclosure documents when comparing different policies.
Is your home in a risky area?Some homes are located in areas of increased natural risks, such as bushfire, flood or cyclone. If you live in an area of increased risk it is important that your home insurance covers these events and that you have enough insurance (sum insured) to rebuild or have a total replacement policy.
Most policies cover fire but not all cover for flood and cyclone.
For bushfire risk, you may want to understand your home’s Bushfire Attack Level (BAL). If your home is destroyed, you may need to rebuild it to comply with new building codes which can increase the cost of rebuilding.

Check what the policy does and doesn’t coverHome insurance policies differ between insurers and even between home insurance ‘brands’ offered by the same insurer. To decide on the best insurance for your home, find out what you are covered for with each policy and what you are not covered for (exclusions) including any caps or limits.

You can find this out on the key factsheet for the home insurance product which will be on the insurer’s website, or you can ask them to send you a copy. The factsheet summarises key information about the policy including what you are and aren’t covered for.
If you want more detail than what’s in the key factsheet, read the Product Disclosure Statement which you can also get from the insurer.
Check the policy pays out enough to fix your home. Also check you will have enough insurance money paid out to you to rebuild your home at today’s prices.
To know if the payout amount is enough, you’ll need to work out how much it will cost to rebuild your home.

It is more important to check this for sum insured policies than total replacement policies as you should be fully covered for a rebuild with a total replacement policy. Some policies offer ‘extended cover’, but this may be subject to certain conditions and you’ll need to check what those are.