RACV - Home & Contents Insurance

RACV Home & Contents Insurance Review

Review published: 20 September 2017

What's hot:

  • New-for-old cover on your belongings

  • Multi-policy discount, loyalty discount and no claims discount on offer

  • Mozo Experts Choice winner 2017

What's not:

  • No underinsurance protection

Mozo snapshot:

If you need an insurance policy to keep your valuables safe, then why not choose an award winner? The RACV Contents Insurance policy bagged a coveted Mozo Experts Choice Award for Exceptional Value this year, and it’s easy to see why. With this policy in your pocket, your belongings are covered in the event of fire, flood, storms, burglary and heaps more. Plus, there are a bunch of discounts on offer if you buy multiple policies or haven’t made any claims. What’s not to like?

Key features:

With a Contents Insurance policy from RACV, you’ll get your choice of excess starting from $100, a 24/7 claims service and new-for-old cover on your belongings, which means if you make a successful claim for one of your items, you’ll get a brand new one.

There are also plenty of discounts on offer to help you keep premium costs down, including a No Claim Bonus, Multi-Policy discount and the Years of Membership Benefit, which is tied to how long you’ve been insured with RACV.

A tonne of events are covered by your RACV insurance, including natural disasters like fire, flood and storms (including lightning and storm surges) as well as things like burglary, vandalism or accidental glass breakage. If you need cover for accidental damage - in case you knock your new Macbook off the kitchen table - you can add that as an optional extra.

This policy protects the contents of your home, which includes personal belongings and a number of household fixtures, such as:

  •  - Furniture

  •  - Rugs and carpets

  •  - Large appliances like fridges and washing machines

  •  - Clothes, shoes and linens

  •  - Power tools and gardening equipment

You can also add extra cover for particularly valuable items or things you routinely carry outside your home with you (for example, an expensive engagement ring.) It’s up to you to make sure you have enough coverage for your items, since there’s no underinsurance protection with this product.

On the flip side, there are some exclusions you should take note of. For example, your trees, plants and shrubs aren’t covered, and neither is the cost to replace any stolen credit cards. Events you aren’t covered for include normal ocean movements (like king tides or erosion) or damage caused by tree roots.

This isn’t an exhaustive list of inclusions and exclusions, so you should be sure to read your PDS carefully so you know what you are and aren’t covered for.

Who it's good for:

RACV Contents Insurance is a Mozo Experts Choice winner and offers pretty comprehensive coverage, while being wallet-friendly - so we think it’s a good choice for just about any Victorian.

Having said that, a Contents Insurance policy is designed to cover your belongings in particular, which means there’s no cover for the structure of your home. So it might be more suited to renters, while homeowners might look for a home and contents policy instead.

Any catches?

One thing to be aware of is that certain items like artwork, jewellery or collectables aren’t covered by your contents insurance if they’re being kept in storage.

Something else to remember is that if you leave your home unoccupied for more than 60 days, your cover will stop. This is pretty standard for contents insurance policies, but still something to keep in mind if you’re planning extended time away.

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 Home & Contents Insurance

RACV

RACV Home Insurance home insurance review

Overall rating   7 / 10

Established, reliable insurer

Well established, reliable institution with a long history of decent service. Seem to be honest operators with a good reputation. A bit more costly than some, but are not "fly by nights". Customer service has been good.

Full review

Well established, reliable institution with a long history of decent service. Seem to be honest operators with a good reputation. A bit more costly than some, but are not "fly by nights". Customer service has been good.

    Value for money   6 / 10

    Policy coverage   7 / 10

    Customer service   8 / 10

    Claims handling   8 / 10

    Trust   8 / 10

Less

Lynette, Victoria, reviewed about 2 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

Less

Tynan, Victoria, reviewed over 1 year ago

RACV

RACV Home Insurance home insurance review

Overall rating   9 / 10

Easy to understand policy

Totally happy with the policy since I signed up to it a few years ago

Full review

Totally happy with the policy since I signed up to it a few years ago

    Value for money   9 / 10

Less

Owain, Victoria, reviewed over 1 year 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

Less

Ned, Victoria, reviewed over 1 year ago

RACV

RACV Home Insurance home insurance review

Overall rating   10 / 10

Never made a claim and satisfied for now

Never had a claim

Full review

Never had a claim

    Value for money   8 / 10

Less

Sharyn, Victoria, reviewed over 1 year 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.

Policy and service features

  • 60

  • $100

  • 10% multi-policy discount, 8% combined policy discount, loyalty discount, no claim discount

  • Up to 90 days, up to 20% of sum insured

  • Up to 20% of sum insured

  • Up to $20,000,000

Events

  • Optional extra

  • Optional extra

Buildings

  • Up to $1,000

  • Up to sum insured

  • Up to sum insured

Contents

  • Up to $200

  • Up to $1,000

  • Up to $2,500

  • Software only, reasonable cost

  • Optional extra

  • Up to $2,500 per item

  • Up to $2,500

  • Replacement cost

  • Up to $2,000

Other cover

  • Up to $10,000 for funeral

  • Reasonable cost

  • Up to 12 months

  • Up to 12 months

  • Up to 14 days

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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