CHU Contents Insurance

Mozo snapshot:

CHU provides contents insurance specially tailored for those who live in apartments, units, villas and townhouses. There are two policies on offer - Basic and Premier - which offer varying degrees of cover for a wide range of items. There is a 21 day cooling off period, which will allow you to cancel the policy if you change your mind, and no cancellation fees to worry about. On top of that, you’ll be able to take advantage of CHU’s 24/7 claims service and customer support.

Key features:

When signing up for CHU Contents Insurance, you can choose from Basic and Premier Cover. Basic Cover insures a range of items up to different levels of cover. For example, cash and credit cards up to $500 and $1,000, respectively. CDs, DVDs and electronic files are covered up to $3,000, while computer software and hardware are covered up to $5,000. As for antiques and valuables, they’ll be covered up to $10,000.

If you go with the Premier option, limits on this cover will generally be higher, for example, you’ll be covered for up to $1,500 for cash and $1,000 for credit cards. Cover for other items will be much more extensive: $25,000 for CDs, DVDs and electronic files; $40,000 for computer software and hardware; and $40,000 for antiques and valuables. 

New for old replacement applies for both policies, meaning that when it comes to replacing your belongings, CHU will get you brand new ones, regardless of how old the original items were.

Under Basic contents insurance, you’ll be covered in case of accidental breakage of glass, power surges caused by lightning, theft, vandalism, and explosions. When it comes to natural disasters, the policy covers damage caused by fire, lightning, storm, flood and earthquake. Premier Cover goes further and includes accidental loss and damage of items along with the above.

Both policies will provide a $5,000 payout in the case of a death, and $10,000 in the case of an injury that leaves you paraplegic or quadriplegic. Cover also extends to your pets. Vet expenses are insured up to $500, and the policy includes temporary accommodation for your furry companions, so you can be confident they’ll be looked after.

Who it's good for:

CHU Contents Insurance would suit anyone living in an apartment, unit, villa or townhouse who is after a comprehensive policy to safeguard their belongings. Keep in mind that even if your building has strata insurance, this only covers the overall building and common areas, so having an individual policy in place is a good idea if you want to protect your personal belongings.