Home and Content Insurance

Went online to get quotes for home and content insurance. However, there is not much info on the home insurance regarding what it covers.
All the quotes do is tell me how much im covered for and the annual insurance premium.

I want to know what my home insurance cover.
So if my house suddenly collapses, earth quake, water damage from flood or pipe burst, fire etc.

Am I covered for all? I assume there would be a list that i can go through. Or is home insurance something that 1 size fits all and I just buy it blindly?

 

Nevermind, product disclosure statements everywhere lol.

 

All insurers must make available a Product Disclosure Statement. It outlines the policy events and cover. This may also be repeated in a policy. Without accepting a condition that you have been provided with a PDS you cant get a quote !!

 

@brettc might be able to put you in touch with someone helpful.

 

similar issue...attempting to lower my premiums by reducing my contents insurance. The question is, how much cover is enough? I have a three bedroom property with carpet. I also have another three bedroomer with floorboarders....the insurance company asks you on phone how much cover I want, I just pluck a figure out of ether? Do I really have to go costing new carpets blinds etc and tell the vendor 'oh by the way its just for the insurance company, I am not really going to buy anything' or is there some average figures that can be used dependent on how many rooms, type of floor coverings etc? I suppose overinsuring with regard to contents is the same as overinsuring the cost of rebuilding the house i.e. no matter how much cover you have, insurance will only cover the rebuild to build what was there before. I actually rang about this to insurance company te other day with hypothesis that if my current PPOR was destroyed,I wouldn't necessarily want the house rebuilt as was....I would rather subdivide land, build two IPs on it and go & live somewhere else, the response was a bit vague.......

 

I’ve never been asked how much insurance I want for the building. Just for the contents component.

Whenever I apply for insurance I am asked a number of questions and, based on the answers, a rebuild value is ascribed to the property by the insurance company.

It may include a figure for contents as well. Sometimes I reduce this because I have no carpets etc.

 

Need to check the details online or ask the insurance company all those questions above.
I find the contents part a little tricky as this includes flooring/curtain and blinds/your furniture, this can easily add up 60k++++.
Heard of one scenario that a fire had started, put out, but the smoke had damaged all the walls and flooring and there contents was only covered to 30k, their bill was 70k to repair. This damage falls under contents and not building.
Also just learnt that landscaping isn't included and that's through several company's that will not cover it. Our landscaping would easily be worth 50k+ and would take years to get the growth back if a fire was to rip through our pine trees.
Also include about 50k to clear away your house in a worst case scenario for the new rebuild.

 

When getting Quotes online, the software estimates the replacement value based on your answers to their questions.
Some companies allow you to amend that estimate based on your preference.
So your quote will change accordingly.
And with regards to rebuilding, yes they’ll replace what was there and won’t pay for anything extra like subdivisions.
Does your comprehensive car insurance pay for a Porche when your Toyota gets smashed ?