ABS Insurance Brokers helps homeowners compare home insurance with a clearer view of the building, the contents and the risks they want to protect. We take the time to discuss your property, household and existing policy rather than treating insurance as a one-size-fits-all renewal.
Whether you are arranging cover for a new home, reviewing an annual renewal or reassessing your sum insured after renovations, an ABS broker can help you identify the questions worth asking before you decide.
Tell us about your property and the cover you would like to explore.
Home insurance is commonly discussed as building cover, contents cover or a combined policy. Building cover concerns the physical home and fixtures such as built-in cabinetry and plumbing. Contents cover concerns the belongings you own inside and around the home. Depending on the policy, certain structures, legal liability and additional benefits may also be included, subject to limits and conditions.
A useful comparison looks beyond the annual premium. The excess is the amount you may need to pay when making a claim. You should also consider the sum insured, sub-limits for particular belongings, temporary accommodation, removal of debris, optional extras, the events covered and the exclusions. The cheapest option is not automatically the best fit if it leaves important gaps.
For a home owner, the rebuild figure deserves particular attention. It is not simply the market value of the property. It may need to reflect construction type, access, demolition and removal, slope, improvements, professional costs, solar systems, pools, landscaping and other site-specific factors. A review is especially important after renovation work or significant changes to the home.
Before requesting a quote, gather your current schedule or renewal, address, building details, occupancy information, security measures, claims history and an up-to-date idea of the building and contents values. This allows a more useful conversation about the policy features that may matter to you.
It is also sensible to review whether the policy definition of the home captures items such as garages, sheds, pools, retaining walls, driveways, solar equipment or a granny flat. The answer depends on the policy and the way the property is used. If you rent out part of the property, operate a business from home or leave it unoccupied for a period, these details should be raised before cover is arranged or renewed.
ABS Insurance Brokers can help you navigate these questions and connect you to the wider ABS range, including general insurance and our insurance agent service. For independent consumer information, read the Australian Government’s MoneySmart guide to choosing home insurance.
Building insurance generally relates to the house, fixtures and certain structures, while contents insurance relates to belongings. Exact cover, limits and exclusions depend on the policy wording, so it is important to compare the Product Disclosure Statement and Key Fact Sheet.
Renters do not usually insure the building, but may choose contents cover. For strata properties, the owners corporation commonly insures the building; owners should check the strata policy and consider contents and other personal needs.
Review the rebuild sum insured regularly, particularly after renovations, rising building costs or changes to outdoor structures. Allow for demolition, professional fees, site conditions and other costs identified by the insurer’s calculator or supporting information.
Not necessarily. Events, optional benefits, limits and exclusions vary. Check the policy wording and ask about the specific risks relevant to the home and location before arranging cover.
Review it at every renewal and after renovations, major purchases, a change in occupancy, security upgrades or a change in the value of your possessions.
