With Australia Post’s combined home building and contents insurance, both your home and belongings will be covered in case of fire, theft, extreme weather (including flooding) and natural disasters such as earthquakes and tsunamis. Plus, if you’re worried about underinsurance, there’s even the option to add a 30% underinsurance safety net to your policy.
If you’re looking for a policy that covers both your home and the belongings inside it, you might want to check out this offering from Australia Post. With this home and contents insurance policy you’ll be covered for fire (includes bushfire), theft, storms, flooding, earthquakes, water damage and glass breakage.
The policy provides up to $30 million worth of legal liability and limited cover for a range of items that may be lying around your home. This includes up to $2,500 per item for jewellery and watches, up to $20,000 per item for artwork, rugs and antiques and up to $800 for cash, vouchers, coupons and gift cards.
Some standard features of the policy include emergency temporary repairs, temporary accommodation cover and cover for temporary storage of contents. For this, Australia Post will cover the reasonable costs to carry out emergency repairs. Temporary accommodation costs will apply if your home is unliveable and is currently being rebuilt. Accommodation will be covered for up to 24 months, or up to 20% of your building’s sum insured (whichever is less).
There are also a few optional extras to choose from, if you want to increase your cover. These include an underinsurance safety guard of up to 30%. If you opt for this and it is discovered that your home was insured for less than the cost to rebuild it, Australia Post will pay up to 30% more than the original sum insured. You can also choose to add portable contents cover to your policy, this can cover items such as bicycles, jewellery and mobile phones.
One final thing to note is that as with any insurance policy there are exclusions. For instance, this policy does not cover landscaping, trees, plants or shrubs. You also won’t be covered for any business stock kept in your home.
This policy would be suited for someone looking to get insurance for both their home and the contents inside it. It might also be a good option for anyone who is worried about underinsurance, as underinsurance protection is available as an optional extra.
Be mindful that there are limits to cover provided for individual items. With this in mind it is always recommended to read the full PDS before signing up to an insurance plan.
Any information provided on this page should be considered a summary and general advice only. All information should be verified before purchase via the relevant Product Disclosure Statement (PDS).