Home Insurance - Overview

Click here for a quote and more information about Home & Contents Insurance

Click here for a Home Contents Inventory Checklist

Click here for a Home Building Replacement Guide

Read this guide to assist you in assessing your insurance requirements.

Protecting your Home against known perils such a fire or storm damage is essential, your home can also suffer other types of damage which can be insured against which you may be unaware of, this overview is designed as a guide to inform you of some of the most important insurances available for your home & to protect your family.

There are four main types of coverage a home owner or occupier may consider & these are as follows:

Home Building
Home Contents
Valuable Items
Personal Liability

Home Building coverage includes the replacement or reinstatement of the home building & out buildings like garages or garden sheds, fences and gates, also other additional costs are covered such as removing debris after the loss, temporary accomodation costs whilst the rebuilding is undertaken and professional fees for redrawing of plans if necessary. The home owner needs to adequately estimate the cost of replacing their home building after taking those additional costs into account. This may be difficult as every home is different , brick constructed homes are more expensive to rebuild than hardiplank homes and fixtures & fittings can range in cost dependant on their quality. Professional builders or valuers can assist in giving you an accurate indication of what $ amount you should insure your home building for , this will ensure you dont fall short when you need full cover the most. We at Rose Stanton use quality insurers and superior broad coverage policies which do not apply underinsurance penalties , but they will not pay more than the amount you nominate to insure the building for so always consider your coverage needs carefully. Some of the perils that are covered are fire,storm & water damage, impact by vehicles of object including falling trees.

Home Contents coverage includes the replacement or reinstatement of you personal belongings , furniture & appliances, clothing etc. There are two types of coverages available Accidental Damage or Defined Events . Accidental Damage cover is broader as it covers breakage of contents and covers them away from the home address. Defined Events limits coverage to defined perils such as Fire, Storm & Water damage, Theft by forcible entry to the premises, coverage is limited to the home address. There are limits payable under both types of policies in relation to jewellery & valuables , fine arts,collections or curios & these items should be itemised & if they are not adequately covered by the policy insured under a valuable items policy. Coverage also extends to fusion or burning out of motors in refrigerators or freezers & any subsequent food spoilage. Lighting strikes can damage electrical equipment like computers , fax machines & televisions. We recommend that all home owners complete an inventory of their contents & update it when they obtain more items and estimate the amount they insure their contents for full replacement value.

Valuable Items coverage includes cover for jewellery, watches , cameras & photographic equipment, silverware , gold , coin collections, antiques and curios. The cover is accidental loss or damage and is not restricted to the home address.

Personal Liability covers the legal liability of you and your family & pays for legal defence costs & awards made by Australian Courts. This cover is automatic when you insure either home building or contents.

Click here for a quote and more information for Home & Contents Insurance