RACV - Building Insurance

RACV Building Insurance Review

Rates and fees information correct as at 21 November 2017.

Review published: 20 September 2017

What's hot:

  • 2017 Experts Choice winner

  • Multi-policy and no claims discount

  • Choice of excess

What's not:

  • No new for old replacement

  • No underinsurance protection

  • Costs extra to pay premiums monthly

Mozo snapshot:

One winner for the Experts Choice Award for Exceptional Quality Home Buildings Insurance is RACV Home Insurance. With this policy, not only will you have access to your own choice of excess, if you choose to combine policies, you’ll also be able to snag a multi-policy discount along with a no claims bonus if you’ve got a great claims history. Plus, if you’re a loyal customer, you’ll also get a loyalty discount. 


Key features:

With RACV Home Insurance your home will be given extensive cover for over 10 listed events like fires, storms, earthquakes and all those other things you’d rather not think about. You also have the option to add accidental damage and fusion to your policy, however you will not be covered for any power surges. Cover for temporary accommodation for both you and your pet is also available along with lock replacements, debris removal and demolition costs.

When it comes to your home and its structure, RACV Home Insurance has you covered there too. You’ll be able to receive cover for any structural improvements, building materials if you’ve decided to renovate, your gates or fences and landscaping.

And don’t forget those discounts! You can score a loyalty discount which will depend on how long you’ve been with RACV, a no claims discount for keeping your claims history squeaky clean, and a discount for having more than one policy with RACV.



Who it's good for:

RACV Home Insurance is a good choice for Victorian homeowners thinking of giving their home a high level of cover.


Any catches?

RACV Home Insurance does not offer underinsurance protection for your home. This means that if your home is damaged and will need to be rebuilt or repaired, you may have to provide the funds yourself if you’ve failed to value your property correctly. To avoid this, it’s best to seek out quotes from reputable experts to value your home.

New for old replacement is also unavailable under this policy, which could also leave you out of pocket if a part of your home needs to be replaced. Here it might be a good idea to list anything you want extra cover for separately in your policy. 

Finally, while you do have the option to pay your premium monthly, it’s important you know that you will have to pay extra for this.


How is RACV home insurance rated by the Mozo community?

Product Type Overall Rating Price Features Service Claims Handling Trust
RACV home insurance
8.0

Based on 145
RACV home insurance reviews

7.4 7.7 8.0 7.6 8.1

Latest reviews of RACV Building Insurance

RACV

RACV Home Insurance home insurance review

Overall rating   5 / 10

Poor customer service in claims resolution

I used to be with RACV for everything, but now only used their auto services after a very bad experience. After many years of good service and loyal membership, I was declined a valid claim after losing assorted items in a bag outside my home....

Full review

I used to be with RACV for everything, but now only used their auto services after a very bad experience. After many years of good service and loyal membership, I was declined a valid claim after losing assorted items in a bag outside my home. Despite several attempts to state my case and police reports, they refused my claim for prescription glasses, ipad and iPhone. I changed insurance companies.

    Value for money   -1 / 10

    Policy coverage   / 10

    Customer service   / 10

    Claims handling   / 10

    Trust   / 10

Less

Romana (VIC), reviewed 5 months ago

RACV

RACV Home Insurance home insurance review

Overall rating   10 / 10

Highly recommended

Easy choice to make. They have been nothing but helpful to us.

Full review

Easy choice to make. They have been nothing but helpful to us.

    Value for money   10 / 10

    Policy coverage   / 10

    Customer service   / 10

    Claims handling   / 10

    Trust   / 10

Less

Tynan (VIC), reviewed 5 months ago

RACV

RACV Home Insurance home insurance review

Overall rating   10 / 10

Peace of mind from trusted company

The bonuses and discounts are attractive.

Full review

The bonuses and discounts are attractive.

    Value for money   9 / 10

    Policy coverage   / 10

    Customer service   / 10

    Claims handling   / 10

    Trust   / 10

Less

Ned (VIC), reviewed 6 months ago

RACV

RACV Home Insurance home insurance review

Overall rating   9 / 10

Highly recommend.

Have been helpful in need.

Full review

Have been helpful in need.

    Value for money   10 / 10

    Policy coverage   10 / 10

    Customer service   7 / 10

    Claims handling   10 / 10

    Trust   7 / 10

Less

Louis (VIC), reviewed over 1 year ago

RACV

RACV Home Insurance home insurance review

Overall rating   9 / 10

Happy customer

Best offer I've seen

Full review

Best offer I've seen

    Value for money   7 / 10

    Policy coverage   8 / 10

    Customer service   9 / 10

    Claims handling   -1 / 10

    Trust   8 / 10

Less

Crystal (VIC), reviewed almost 2 years ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Buildings

  • Up to $1,000

  • Up to sum insured

  • sum insured

Events

  • Optional extra

  • Optional extra

Policy and service features

  • 60

  • 100

  • 10% multi-policy discount, loyalty discount, no claim discount

  • Up to $20,000,000

Other cover

  • Up to $10,000 for funeral

  • Reasonable cost

  • Up to 12 months in addition to sum insured

  • Up to 12 months in addition to sum insured

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).

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