Want the best possible protection for your home?
Home and Contents Insurance
For Australians, your house is the greatest investment you’ll make in life. Protect the home you’ve worked hard for, inside and out, with home and contents insurance.
What is Home and Contents Insurance?
Home and contents insurance is one of the most common and most necessary covers for everyone. For nearly all Australians, your home is the biggest investment you’ll make in your lifetime.
Many lenders require that a home and contents insurance policy in place as a condition of approval for the finance.
Having cover in place protects you from a total loss — depending on your home’s value, this could be $300k up to several million dollars. Could you afford to replace your home and belongings out of pocket?
What can be covered
What may not be
Why use a broker?
With access to many quality insurers, and policies not available to the public, we can offer you a range of home and contents insurance quotes. Our recommendations always aim to provide flood cover and accidental damage at a competitive rate.
As brokers, we’re also able to offer you coverage that insurers don’t offer directly to the public. Many of our policies offer worldwide cover for your belongings — giving you peace of mind at home and abroad.
Each year when your policy is due, we always ensure it’s still the best one for you. Sometimes it’s best to stay with the same insurer, other times we may recommend moving to another for a better balance of price and coverage or claims outcomes.
Home and Contents insurance claim example
During the 2017 Northern New South Wales floods, Michael’s family home and all its contents were severely damaged by floodwaters. Fortunately, Michael had taken out home insurance.
His home and contents insurance included automatic cover for flood, so it covered the costs of repairing the damage that floodwaters had done to the walls and floors of his home.
It also covered the cost of replacing his furniture and white goods. And, because he and his two children had to move out while his home was being repaired, his policy took care of the costs of living in rental accommodation during this time.
Consolidated Insurance Brokers can help by placing you with the best policy for your needs. We'll find you the most competitive rate possible, and offer advice to ensure your insurance protects what matters.
As brokers, it's our job to give advice. We always aim to deliver great, not just 'good', advice.
We manage your insurance and claims so you get the best outcome when you need it most.
Your renewals, quotes and policies will be delivered in clear, easy English — no more confusion.
With a broker, you get more comprehensive cover and benefits not available if buying directly.
Frequently Asked Questions
There are many benefits of using a broker over buying directly from the insurer. Insurance brokers:
- Work on your behalf to secure you better protection through their negotiating power
- Help you understand your risks and empower you to make better life / business decisions
- Ensure insurers are held accountable to their promise to protect what you value during claims
- Save you time and money by taking care of comparing and customising policies for your needs
As brokers, we work for you, not insurance companies. It’s our job to ensure you have great protection and that your protection pays when the unthinkable happens.
The time at which you become responsible for damage to your new home varies by state.
- NSW: buyer is responsible for damage to the property on settlement.
- VIC: buyer is responsible for damage to the property on settlement.
- QLD: buyer is responsible for damage to the property from 5pm the next business day after the contract date (before settlement).
- SA: buyer is responsible for damage to the property as soon as contracts are exchanged.
- WA: buyer is responsible for damage to the property on either the date the whole purchase price is paid or the date the buyer is entitled to or is given possession of the property (whichever comes first).
- ACT: buyer is responsible for damage to the property as soon as contracts are exchanged.
- TAS: buyer is responsible for damage to the property as soon contracts are exchanged.
- NT: buyer is responsible for damage to the property on either the date the whole purchase price is paid or the date the buyer is entitled to or is given possession of the property (whichever comes first).
While it’s not a requirement that your home be insured by law, it is normally a condition of your mortgage that the home be insured while it’s under finance.
It may be wise to take out insurance on the home prior to settlement, just in case the seller has inadequate cover in the event of damage prior to settlement. Having to pay out of pocket for damage you didn’t cause is likely not the welcome to your new home you want!
Our broker-negotiated policies have market-leading coverage. This means if the worst possible scenario occurs, the effort, time and money you spent on building your livelihood won’t go to waste — You’ll be back on track as fast as possible.
If you own an apartment under strata title, the building will be insured by the Body Corporate or Owners Corporation. However, residential strata insurance won’t provide cover for your belongings, furniture and may not cover any owner-occupier renovations or installed fixtures by default.
In this case, it’s recommend you take out a “contents only” home and contents insurance policy. This can provide cover in the event of a weather disaster and even everyday accidental damage at request for your belongings and furnishings.
Home and contents insurance policies have different types of cover, mainly:
- Listed/Defined Events
- Accidental Damage
Listed Events policies will only provide cover for specific events, such as a fire, storm water damage, or earthquake. Often these policies exclude flood cover.
Accidental Damage provides cover for more common, every-day types of damage or loss, such as:
- Smashing a hole in the wall while moving furniture
- Spilling red wine on your carpet
- Dropping a heavy pot and breaking some kitchen tiles
For the best value for money, we recommend Accidental Damage and flood cover to protect your home from the most likely damage/losses you’ll face.