- Understanding Home And Contents Insurance
- Your Guide To Renters Insurance
- A Home Owner’s Guide To Home And Contents Insurance
- Home And Contents FAQ
- Contents Insurance Explained
- Landlord Insurance Explained
- Claiming Home And Contents Insurance
- Home & Contents Queensland
- Fire Insurance
- Mobile Phone Insurance
- The Average Value Of Home Contents
- How To Find Great Value Home & Contents Insurance
- Smart Homes
Contents Insurance Explained
Contents insurance is a specific insurance that can cover the cost of replacing your household personal possessions such as clothes, jewellery, white goods, appliances, computers, TVs, curtains and sporting equipment.
Our homes are full of important personal possessions and, just like other important things in life such as health, it makes sense to insure these possessions against unforeseen circumstances including fire, flood and burglary.
What is generally covered by contents insurance?
Contents insurance policies can differ greatly with what they cover and what they cost.
Most contents policies cover your household items and those that belong to family members who live with you. But your policy may not cover items belonging to friends or guests – unless they are named separately on the policy.
Computers, cameras or valuable sporting equipment that you take outside your home may not be covered, unless you take out extra cover to protect these items when they are outside your home.
Are there different types of contents insurance?
Contents insurance policies either offer replacement value or new for old cover. ‘New for old’ means your insurer will replace your old possessions with new items. This type of policy may cost a little more, but ensures you are covered for an amount to replace your items, rather than the depreciated value of your possessions.
What am I covered for?
Because every person’s belongings (ie their contents) are different, there are a range of policies to choose from.
Basic contents insurance generally covers ‘defined events’ such as fire, flood and burglary etc. Broader coverage against ‘accidental damage’ protects you against incidents like damaged carpet from a spill, or putting a rip through the couch by mistake, however this type of coverage could attract a higher premium.
For some high-value individual items such as jewellery, you may add them to your policy and pay an additional premium, as some policies have a maximum fixed replacement amount for these items. It’s a good idea to have a valid independent valuation, as well as photographs of these items.
Looking for a contents insurance policy?
Compare from iSelect’s range of home & contents policies and providers*.
*iSelect General Pty Ltd ABN 90 131 798 126, AFS Licence Number 334115. iSelect does not compare all home and contents insurers or policies in the market. The availability of policies may change from time to time. Not all policies made available from iSelect’s providers are compared by iSelect and due to commercial arrangements, area or availability, not all policies compared by iSelect will be available to all customers. Some policies are only available from iSelect’s call centre or online. We receive a commission for each policy sold through iSelect.
Any advice provided by iSelect on this website is of a general nature and does not take into account your objectives, financial situation or needs. You need to consider the appropriateness of any information or general advice iSelect gives you, having regard to your personal situation, before acting on iSelect’s advice or purchasing any policy. You should consider iSelect’s Financial Services Guide which provides information about our services and your rights as a client of iSelect. iSelect receives commission for each policy sold.
Click here to view iSelect’s range of providers.
Last updated: 4/12/2019