Home and contents insurance broker

Home and contents insurance provides financial protection if your home, belongings, or both are damaged, destroyed or stolen due to insured events.

Home insurance covers your building’s physical structure. This buildings cover includes the walls, roof, floors, doors, windows and permanently fixed items such as built-in cupboards, kitchens and bathroom fittings. It can also extend to permanent structures like garages, sheds and fences, depending on the policy.

Meanwhile, contents insurance covers the items you keep in your home that are not permanently fixed. This includes furniture, appliances, electronics, clothing and personal valuables.

You can buy home insurance and contents insurance separately, or as combined cover under a single policy.

Home and contents insurance is not legally required in Australia. However, if you apply for a mortgage, your lender will almost always require you to hold building insurance as a condition of the home loan.

Even without a mortgage, forgoing insurance can be a major financial risk. If your home is destroyed by fire, storm or another insured event, the cost to rebuild can easily reach hundreds of thousands of dollars. Replacing your contents after a burglary or major loss can also be financially devastating without cover.

Ultimately, insurance serves as a safety net against losses that would be extremely difficult, or impossible, to recover from on your own.

In Australia, financial responsibility for the property usually transfers to the buyer before you get the keys. In many states and territories, this occurs at settlement.

However, if you plan to secure a mortgage, know that most lenders require proof of building insurance as security against the property value.

To determine how much cover you need under this combined policy, you should calculate two separate values:

• Rebuild value: This is the cost to completely rebuild your home from the ground up if it were destroyed. Importantly, it is different from your property’s market value or purchase price. Rebuild costs include materials, labour, demolition, debris removal and professional fees.
• Contents value: This is the total replacement cost of everything you own inside your home, including items stored in garages, sheds and outdoor areas. A room-by-room inventory helps ensure nothing is missed. High-value items like jewellery or artwork may need to be listed separately.

Note that under-insuring either your home or contents can result in reduced payouts, so accurate estimates are essential. For more details and personalised quotes, get in touch with Ian Jones today.

Home and contents insurance covers financial loss of both the building and its contents due to specific insured events listed in your policy.

The home insurance component generally provides cover for:

• Storm and hail damage
• Fire and smoke damage
• Explosion
• Earthquake
• Water damage from burst pipes
• Vandalism and malicious damage
• Impact damage, such as vehicles or falling trees
• Legal liability for injury or death occurring on your property
• Temporary accommodation costs if your home becomes uninhabitable after an insured event
• Legal liability cover for associated legal costs

Optional cover additions may include:

• Flood damage
• Accidental damage
• Damage caused by animals
• Portable contents such as mobile phones

Meanwhile, contents insurance tends to cover:

• Theft and burglary
• Fire and storm damage
• Damage to contents while being moved
• Loss or damage to visitors’ belongings in your home

As coverage varies between insurers and policy types, it’s important to check the Product Disclosure Statement for your insured events.

While home and contents insurance inclusions vary, most policies exclude the following situations:

• Damage that existed before the policy started
• Poor maintenance or wear and tear
• Homes left unoccupied beyond the allowed timeframe
• Damage caused by the sea, including storm surge
• Certain storm clean-up costs, such as debris removal
• Acts of war or armed conflict
• Nuclear contamination
• Events occurring during waiting periods or embargoes
• Claims where relevant information was not disclosed

Understanding these exclusions is just as important as knowing what is covered, as they directly affect claim outcomes.

Home and contents insurance does not typically cover flood damage. It is an optional extra.

After seeing how often flooding has affected communities across Australia in recent years, it makes sense to ensure you have flood cover, even when the risk at your specific address is considered low.

For homes that are on normally dry land and unlikely to experience flooding, the cost attributed to flood cover is usually minimal. Having it in place means that if the unexpected does happen, those homeowners are protected in the same way as people living in known flood-affected areas.

Standard contents insurance usually only covers personal valuables while they are inside your home. To protect personal belongings outside the home, such as mobile phones, laptops or jewellery, you typically need portable contents cover or personal effects cover.

This optional add-on insures listed items against loss, theft or damage while you are away from home, including when travelling. Coverage limits and conditions apply.

Not all insurers offer adequate protection at a cost-effective price. Researching different home and contents insurance policies helps ensure your cover still suits your needs and your budget. Over time, premiums can increase, and your circumstances can change.

Comparing home and contents insurance cover can help you:

• Avoid paying more than necessary for insured events
• Adjust cover levels as property values change
• Identify gaps in your current cover
• Add optional cover, such as portable contents cover, legal liability cover or accidental damage cover

By regularly reviewing your home and contents insurance cover, you can keep your property protected without overpaying. At Ian Jones, our home and contents insurance brokers are here to help you weigh up your options and secure the right policy for your property.

Most insurers offer the option to pay home insurance premiums on an annual or monthly basis. Paying each year often works out cheaper, as some insurers charge instalment fees for monthly payments.

Always check the total annual cost before choosing a payment option. If spreading the cost matters, we can connect you with insurers that allow monthly payments without additional fees. Please contact our team for further details.

The cost of a home and contents insurance premium depends on several factors, including:

• The location of the insured address
• Property age and construction materials
• Rebuild and contents values
• Local risk factors such as weather or crime rates
• Optional covers selected
• Excess amount chosen
• Your claims history

Essentially, higher risk generally means higher premiums. Choosing the right balance between cover level, excess and optional extras helps keep premiums manageable while still providing adequate protection.

For personalised advice and accurate quotes, please speak with one of our experienced insurance brokers today.

If you buy home and contents insurance through a broker, you can still make a claim directly with the insurer.

Most insurers allow these home insurance claims to be submitted online or over the phone. Once the claim is lodged, the insurer is responsible for assessing the damage, arranging repairs or replacements, and finalising the settlement.