RACV - Building Insurance

RACV Building Insurance Review

Rates and fees information correct as at 16 December 2018.

Review published: 20 September 2017

What's hot:

  • Multi-policy and no claims discount

  • Flood cover comes included

What's not:

  • No new for old replacement

  • No underinsurance protection

Mozo snapshot:

With the RACV Home Insurance 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
8.1

Based on 159
RACV home insurance reviews

7.5 7.8 8.0 7.6 8.1

Latest reviews of RACV Building Insurance

RACV

RACV Home Insurance home insurance review

Overall rating   3 / 10

Happy to take premiums but not paying out claims.

Didn't cover a cracked shower base. It seems they will try to blame everything on faulty installation.

Full review

Didn't cover a cracked shower base. It seems they will try to blame everything on faulty installation.

    Value for money   5 / 10

    Policy coverage   2 / 10

    Customer service   5 / 10

    Claims handling   3 / 10

    Trust   3 / 10

Less

Song, Victoria, reviewed about 3 years ago

RACV

RACV Home Insurance home insurance review

Overall rating   10 / 10

Great customer service provides discounts as well

I have insured with other insurers and always seem to come back to Racv.

Full review

I have insured with other insurers and always seem to come back to Racv.

    Value for money   10 / 10

    Policy coverage   10 / 10

    Customer service   10 / 10

    Claims handling   10 / 10

    Trust   10 / 10

Less

Rosina, Victoria, reviewed about 3 years ago

RACV

RACV Home Insurance home insurance review

Overall rating   8 / 10

Good customer service, discounts for multi policy

I have recently had to claim on my policy after a bad storm,the operatives were very efficient and eager to help and started things rolling very quickly. The only problem we had was with one of the repairers,however this was dealt with and all was...

Full review

I have recently had to claim on my policy after a bad storm,the operatives were very efficient and eager to help and started things rolling very quickly. The only problem we had was with one of the repairers,however this was dealt with and all was well and thoroughly checked and we were satisfied with the end result.

    Value for money   8 / 10

    Policy coverage   7 / 10

    Customer service   8 / 10

    Claims handling   7 / 10

    Trust   8 / 10

Less

Jan, Victoria, reviewed over 3 years ago

RACV

RACV Home Insurance home insurance review

Overall rating   10 / 10

Fantastic company

They are great when it comes to claiming, very fast and helpful, love this company.

Full review

They are great when it comes to claiming, very fast and helpful, love this company.

    Value for money   10 / 10

    Policy coverage   10 / 10

    Customer service   10 / 10

    Claims handling   10 / 10

    Trust   10 / 10

Less

Mark, , reviewed almost 4 years ago

RACV

RACV Home Insurance home insurance review

Overall rating   7 / 10

Same as above

The cover is OK but I think the premium is on the high side.

Full review

The cover is OK but I think the premium is on the high side.

    Value for money   4 / 10

    Policy coverage   8 / 10

    Customer service   7 / 10

    Trust   8 / 10

Less

Brian, Victoria, reviewed over 4 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

  • Up to 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

  • Up to 12 months

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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