At Consolidated Insurance Brokers we specialise in Home & Contents Insurance!
What is Home & Contents Insurance?
Everyone has a general idea of what Home and Contents insurance is about – but with the number of advertisements online and on TV, all we hear about is price. Your home is your most important asset and understanding what it is covered for is critical to make an informed decision about your policy.
Home policies have two general policy structures:
-Listed or Defined Events – this policy lists a range of specific events which are insured (e.g. fire, lightning, theft)
-Accidental Damage – a true broker Accidental Damage policy insures you against any damage/loss that is not specifically excluded (e.g. wear and tear)
Many direct insurers may offer an “Accidental Damage Option” that can be attached to a listed events cover. This does not mean the policy is a true accidental damage wording. Some insurers such as YOUI (Policy Wording – 23 May 2016) limit this cover to $5,000 maximum.
A true broker Accidental Damage policy will protect your contents not just at your home, but anywhere in Australia and will include high limits for valuables so you are not caught out for failing to specify a ring or piece of jewellery. A top cover won’t have limitations on things such as medical devices like hearing aids or fine print excluding liability cover for your dog biting a neighbour or alcohol being consumed at your home.
Who Needs Home Insurance?
Everyone needs home and/or contents insurance – whether you own your own place or are renting, you need to ensure your assets are protected. If nothing else, the often overlooked part of home insurance is that it includes personal liability cover. So if someone injures themselves at your home, you are protected against them suing you. A true broker accidental damage type policy will generally extend this liability cover to be Australia Wide so you are covered at the local park if you have a BBQ and accidentally start a fire.
How can CIB help?
At CIB we work on your behalf to provide a true Broker Accidental Damage policy that includes all risks including flood. We have a panel of preferred home insures with whom we have had great claims experiences and trust. We aim to provide you with a policy which gives you peace of mind that you are protected without having to check the fine print, or give us a call with every new purchase or change in your personal circumstances. Our preferred insurers also offer monthly policies at no extra cost.