With the CGU Fundamentals Home and Contents Insurance policy you’ll be safe in knowing that both your house and possessions will be covered for a number of events including burglary, the accidental breakage of glass, fire, lightning strikes, and, unlike many policies, flood damage. However, the policy won’t cover you for damage caused by a power surge or storm surge (when a storm causes an increase in sea level).
Your valuable items (think jewellery, mobile phones and laptops) will all be covered for up to $2,000, as will any cash in your home (up to $500) and your credit cards (up to $1,000), though CGU won’t cover your trees or other landscaping features for damage under the policy.
CGU Fundamentals Home and Contents Insurance also comes with a number of additional features you might not expect from a basic policy, making it a great value low cost option. These include new for old replacement for damaged or destroyed items, temporary accommodation for your family and pets for up to 12 months (up to 10% of the sum insured), as well as debris removal and demolition costs in the event that your home is damaged or destroyed (up to 10% of the sum insured).
Better yet, unlike many insurers CGU allows you to pay for your premium on a monthly basis without being charged a fee, although you’re still able to pay it as an annual lump sum if you choose to.