Building vs contents, flood cover, landlord insurance, and how to compare policies.
What building cover and contents cover include, how sums insured work, and how to avoid the underinsurance trap that affects 80% of Australian households.
What each type of cover protects and who actually needs it — owners, renters, and strata unit holders.
The critical difference between flood, storm, and water damage — and how to check whether your property is covered for each.
Why a standard home policy is not enough for rental properties — and what landlord insurance adds for tenant damage, rental defaults, and liability.
Compare building and contents cover, sums insured, and policy types so you shortlist policies that match your property — not just the cheapest headline premium.
Common questions about home insurance in Australia.
What is the difference between building and contents cover?
Building cover insures the physical dwelling and permanent fixtures. Contents cover insures your belongings inside the home. Combined policies are common, but renters typically need contents-only while owners may need both — compare the mix that matches your situation.
How much should I insure my home for?
Insure for the cost to rebuild the home and replace contents at today’s prices — not the market value of land. Underinsurance leaves you paying a large share of any claim. Use reputable rebuilding calculators and update sums insured after renovations.
What is an accidental damage vs defined events policy?
Defined events policies list insured causes such as fire, storm, and theft. Accidental damage broadens cover to sudden unintended physical loss in many day-to-day situations, subject to exclusions. Broader cover usually costs more — compare both the scope and the premium.
Do I need landlord insurance if I rent out my property?
Standard home policies may exclude or limit short-term letting and tenant-related losses. Landlord products can cover rental default, malicious damage, and liability in line with the PDS. Compare a landlord-specific policy if you lease the property.
What affects home insurance premiums in Australia?
Location risk (flood, cyclone, bushfire), building materials, security, claims history, excess, and optional covers all influence price. Insurers also change appetite by region over time — shopping around at renewal often improves value.
Should I read the PDS before switching insurers?
Yes. Compare limits on jewellery, portable items, flood, and motor burnout, not just the headline premium. The PDS and any supplementary PDS set out what is covered, excluded, and sub-limited.