What is Home and Contents Insurance?

What does home insurance cover?

This depends on the type of home or landlord insurance you have and your specific policy.

Home insurance can cover your building, your contents or both, in the case of an unforeseen, insured event. Landlord insurance also can cover your building, your contents or both, plus covering the loss of rent if your property is unlivable, accidental damage by you or your tenant, and more. If you have chosen buildings cover, it can cover your home as well as features such as your fences, shed, in-ground pool, and other legal structures that exist on your property. It can also cover fixtures such as air conditioning units, up to your nominated buildings sum insured.

Events covered by your home insurance policy can include:

• Fire damage
• Water damage (such as from a burst pipe)
• Storm and flood damage
• Theft or burglary
• Lightning
• Earthquake or tsunami
• Fallen tree or branch
• Explosion
• Vandalism or malicious damage

It’s important to be aware of what your home insurance policy covers. Remember, you can choose to add on extras for an additional premium if they are available on your policy (for example, Accidental Damage or Portable Contents cover).

Your home insurance costs can be dependent upon factors such as your nominated sum insured(s) for your property, the coverage options you select, your claims history, the location and characteristics of the property, your payment frequency, and the excess you choose.

What does contents insurance cover?

This depends on the type of contents insurance you have and your specific policy.

Contents insurance can protect your personal belongings up to your nominated contents sum insured, against unforeseen insured events. This means that if your items are stolen or damaged, your insurance policy can provide you with the financial means to repair or replace them. The cover can depend on a number of factors, such as the sum insured amount you choose, policy options you add (for example, Accidental Damage or Portable Contents cover), standard policy limits, items you specifically list on your policy, and any limits, conditions or exclusions that apply.

When thinking about what belongings you have, and calculating your contents sum insured, some items you may wish to consider are:

• Mobile phones, tablets, laptops, and computers
• Gardening equipment such as ladders, lawnmowers and whipper snippers
• Furniture including lounge suites, desks and beds
• White goods like fridges and washing machines
• Clothing and jewellery such as designer pieces, engagement rings
• Sporting and musical equipment
• Valuable children’s toys

The cost of your contents insurance can depend on a number of factors such as your nominated contents sum insured, the coverage options you select, your claims history, the location and characteristics of the property, your payment frequency and the excess you choose.

Home and contents insurance

Home (or buildings) and contents insurance are often available as a package, bundled to save you money (as opposed to buying building insurance and contents insurance separately). Australia Post is here to help you find athe right Home and Contents insurance policy to protect your home and belongings.

This advice is general in nature and doesn't consider your personal situation. You should consider your own needs and the Product Disclosure Statement (PDS) before making a decision to buy the product.