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Home Insurance Certificate of Currency
Home Insurance Certificate of Currency
Written by
Tina Sendin
Edited by
Ellie Garran
Reviewed by
Adrian BennettCompare home and contents insurance the easy way
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What is a certificate of currency for home insurance?
Long story short
A certificate of currency is your proof of insurance
A certificate of currency is your go-to document proving your home is insured.
Lenders want to see it to make sure their interests are protected
Lenders want their name on the certificate as an ‘interested party’ to protect themselves if something goes wrong, like damage or loss to your home.
You don’t need it for a new build or an apartment
Building a new house? That’s on your builder’s insurance. Bought an apartment? Strata insurance usually has you sorted.
Getting it is a breeze
Download it, send an email, or make a quick phone call.
Price tag? Zero
Most insurers don’t charge for a certificate of currency.
What is a certificate of currency for home insurance?
A certificate of currency is an official document that proves your home is covered by insurance. It confirms that your policy is active and the big-ticket items – like your home, its contents, or both – are financially protected.1For more information, see Moneysmart – Home insurance
Whether you’re applying for a home loan or refinancing your mortgage, lenders use this handy sheet of paper as proof that you’ve got a safety net for your home.
Without a certificate of currency, the lender can’t proceed to settlement.
What’s on a certificate of currency?
Here’s what you’ll typically find on a certificate of currency:
- your policy details: this includes your policy number or a unique ID for your insurance plan
- your premium: the amount, date paid, and payment method
- the coverage period: the start and end dates for your current policy period
- the amount insured: the max amount that you’re insured for
- your details: name, property address, and contact information
- any mortgage details: if you have a home loan, it will list your lender or bank as an ‘interested party’
Helpful tip:
Always double-check your certificate of currency before handing it over to your lender. Make sure all the details – like the coverage dates, insured amount, and your lender’s name – are spot on. A tiny error can cause frustrating delays on your settlement.
Adrian Bennett
General Manager for General Insurance
Why might I need a certificate of currency?
If you’re applying for a mortgage or refinancing, your bank wants to know your house is covered in case the unthinkable happens.
Lenders get listed as an ‘interested party’ to ensure they’re covered if anything unexpected – like damage or loss – happens to the property.
If you’re building a home, you generally won’t need one of these certificates because builder’s insurance has you covered.
And if you’re buying a unit or apartment? That’s usually taken care of by strata insurance.
How do I get a certificate of currency?
Here’s how you can get a certificate of currency (hint: it’s wildly simple).
- Online: Many insurers offer instant downloads via their website or app
- Email: Drop a quick note to your insurance provider’s customer service team
- Phone: Call them up if you want to do it the old-school way
How long does it take to get a certificate of currency?
For most insurers, it’s ridiculously quick. If your insurer has an online portal or app, you’ll likely have it in seconds.
If you decide to give them a call, you might get it instantly or wait another day (or two) for gears to churn – it depends on your insurer.
How much does a certificate of currency cost?
Here’s the good news – it’s usually free. Most insurers don’t charge for issuing a certificate of currency. After all, it’s a courtesy document that verifies your policy is active.
How long does a certificate of currency last?
Certificates of currency are generally valid for the entire duration of the policy, which is typically a year (although it can also be shorter). It’s important to check with your insurer to ensure you have an up-to-date certificate if you’re ever asked to provide one.
Never skip the details – stay covered
A certificate of currency may not seem like a big deal, but when those admin hurdles pop up – whether it’s mortgage approval, refinancing, or that suspiciously long email chain from your real estate agent – it’s the document that delivers peace of mind.
And if you somehow got here in the early days of looking into home insurance, know that iSelect can help you compare options. Explore from our range of policies today and tick one more thing off your to-do list!
Get started on comparing home and contents today!
Save time and effort by comparing a range of home and contents insurance policies with iSelect
iSelect General Pty Ltd (ABN 90 131 798 126. AFSL 334115) has partnered with Compare the Market (ABN 83 117 323 378. AFSL 422926) to compare a range of home insurers and policies. Not all providers in the market or all policies offered by the partners are compared and not all policies or special offers are available to all customers.
A number of our participating general insurance brands are arranged by Auto & General Services Pty Ltd ACN 003 617 909 on behalf of Auto & General Insurance Company Limited 111 586 353, both of which are related entities of iSelect Limited. Our relationship with those companies does not impact the integrity of our comparison service. Click here to view iSelect’s range of providers.
Any advice provided by iSelect 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 that is a percentage of the premium or a flat fee. Ask us for more details before we provide you with any services.