Published May 23, 2023, 2:20 a.m. by Jerald Waisoki
Insurance is one of those things you know you need, but may not really understand. It’s there to protect your home and belongings from damage or theft, and to give you peace of mind – but it can be confusing trying to work out exactly what you need.
Here, we chat to insurance expert Canna Campbell about the ins and outs of home and contents insurance, to help you make the right decision for your situation.
Home and contents insurance is a type of insurance that covers your home and belongings against loss or damage. It’s important to have because it can help you cover the cost of repairs or replacement if your home or belongings are damaged or stolen.
Home and contents insurance can cover a range of things, including:
Your home – for example, if your home is damaged by fire, storms or floods
Your belongings – for example, if your furniture is damaged or stolen
Your legal liability – for example, if someone is injured at your home and sues you
The cost of home and contents insurance can vary depending on a range of factors, including:
It’s important to compare home and contents insurance policies to make sure you’re getting the right cover at a price that suits your budget. You can compare policies online or speak to a broker for help finding the right policy for you.
What are the different types of home and contents insurance?
There are two main types of home and contents insurance: building insurance and contents insurance.
Building insurance covers the structure of your home, including the walls, roof and floors. It can also cover things like permanent fixtures and fittings, such as built-in wardrobes and kitchen cabinets.
Contents insurance covers your belongings, including furniture, appliances, clothing and electronics. It can also cover things like paintings and other pieces of artwork.
You can choose to buy building insurance, contents insurance or both. It’s important to think about the value of your home and belongings when deciding how much cover you need.
There are a few things you can do to save on home and contents insurance, including:
Compare policies – Use an online comparison service like iSelect to compare a range of policies and find the right cover at a price that suits your budget.
Choose a higher excess – Most policies have an excess, which is the amount you have to pay towards a claim. Choosing a higher excess can help to lower your premium.
Pay annually – Many insurers offer a discount if you pay your premium annually rather than monthly. This can be a good option if you have the cash available to pay up front.
Look for discounts – Some insurers offer discounts for things like having a security system or being a member of a certain organisation. It’s worth checking to see if you’re eligible for any discounts before you buy a policy.
Making a claim on your home and contents insurance
If you need to make a claim on your home and contents insurance, the process can vary depending on your insurer. However, most insurers will require you to:
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i'm kanna campbell from sugar mama tv
and i'm here to talk to you about
home and contents insurance for i select
we tend to refer to home and contents
a single insurance product when in fact
it's a combined
policy just like health insurance
policies that can combine hospital
and extras house and contact insurance
is a combined
policy that includes features of both
and contents insurance
for most homeowners it makes sense to
take out a combined home and contents
although there may be instances where
you only need
one or the other home insurance also
known as house insurance
generally helps cover the cost of
repairing or rebuilding your home in the
event of damage beyond your control
such as a storm or a bush fire
contents insurance helps cover some of
the cost of repairing or replacing
some of your household possessions and
such as clothing jewelry household
appliances and electronics
some contents policies also include
cover for accidental damage
while you can usually choose to include
protection for items lost or damaged
outside of the home
through portable cover there are also
landlord insurance policies to help
protect investment property owners from
damage caused by tenants while renters
can opt to protect their possessions
renters insurance home insurance quotes
vary considerably depending on a number
of factors including the location of
and any security measures in place
iselec can help you compare
home insurance policies from their range
of providers to help you ensure your
most valuable possession
your family home is protected
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