Contents insurance can be easily overlooked by home owners and renters because let’s be honest – it isn’t something we like to think about, but it’s something we might need. Protecting the contents of our homes for their true value is important.
So, let’s look behind the scenes of contents insurance to find out what’s involved.
What is a contents insurance policy and do I need one?
Depending on the policy you choose, contents insurance can provide financial cover following an incident where the possessions you have at home become damaged, stolen or lost. Refer to your Product Disclosure Statement or speak with us to understand what exactly you’re covered for. To ensure you have adequate cover in place, it’s worth checking your contents cover on an annual basis.
For those renting or living with housemates, contents insurance is important to consider. Whilst you don’t have a home to insure, your possessions still need protecting and a contents insurance policy can replace your things if something goes wrong like a fire, theft or accidental damage in the home.
What’s covered under my contents insurance policy?
Depending on the level of cover you purchase, your policy can cover you for incidents such as the more common fire and theft, as well as accidental damage and loss of items. You can also adjust the limit of how much you can claim up to. Generally, the more you are insured for and the more comprehensive your cover, the higher your premium will be.
What happens when it’s time to claim?
When it’s time to claim all you have to do is contact your insurer with as many details as possible. Make sure you take photos and provide receipts if you have them, as well as a policy or incident report from authorities.