With everyone spending so much time at home this year, we’ve been thinking a lot about home and contents insurance. Now more than ever is the time to make sure your belongings and home are taken care of. But, of course, getting cover costs money.
Most of us know that climate change will have some effect on the way we live in the future. But rather than being completely overwhelmed by the enormity of the climate crisis, Allianz and UTS’s new ‘Future of Living’ report looks to simplify the challenge. Its aim is to help us understand how people will live in the future and how home insurance will have to adapt.
Days after the insurance bill for Australia’s devastating bushfires, floods and hail storms climbed over $5 billion, Climate KIC announced an initiative to understand the physical risks of climate change.
Besides being a slightly dry topic at the dinner table, insurance can be extremely useful. It’s like a backup plan in case things go wrong and boy, have Aussies needed that this year. From the bushfire crisis to flooding and now a global pandemic, 2020 just keeps on changing our insurance needs.
Property investors can take out landlord insurance to mitigate the practical risks involved in renting out a space, such as damage caused by tenants, or even natural disasters. It can also ensure they’re covered in case they lose rental income. But this is getting more complicated in the COVID-19 climate.
Despite the slight easing of social distancing restrictions, the vast majority of people across the country are still working from dining tables, home offices or even sofas. The global pandemic has shaken up not only the work-life balance, but also living arrangements and with that comes home insurance.
New research data released by the Australian Financial Complaints Authority (AFCA), has revealed that home building insurance was the most complained about insurance product in the second half of 2019.