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Home Insurance

What are the top home and contents insurance tips?

2023-08-17 04:30

Important information

The information below refers to features and benefits of ANZ General Insurance products issued by CGU to new customers from 3 July 2023.
If you hold an ANZ Home Insurance policy issued by QBE, please refer to the Product Disclosure Statement available at anz.com/insurance for the relevant information. The features of the QBE and CGU issued insurance products are different. For more information on the General Insurance partner transition, visit our FAQs here.

Your home and belongings are some of your most important assets. And it only takes something like a flooded pipe to ruin your carpets and furniture, or a break-in to lose valuable items. So it pays to get the right protection. Here are some handy simple ways to help you choose home and contents insurance that will be there when you need it most.

1. Make sure your cover meets your needs

You've probably heard the stories about people who thought they were insured against certain events. But when a flood or bushfire destroyed their home, they found out that they weren't covered for those events. Make sure that your insurance will be there when you need it – including for accidental damage, storm, fire and flood.

2. Make sure you have enough to rebuild

When estimating the cost of rebuilding your home, for most of us this is a hard thing to do – and could see you being left short of what you really need. To help you estimate what you'll need to help rebuild or replace your home and contents, you can use the free online sum insured calculator from the Insurance Council of Australia. ANZ Home Insurance  also features a Safety Net as standard, meaning that if the cost of rebuilding or repairing your building exceeds the nominated sums insured, you will have cover for reasonable costs up to an extra 25% of the building sum insured to minimise any out of pocket expenses.disclaimer

3. Understand when your policy won't pay out

All insurance policies have exclusions and limits as there are some things insurers do not cover. It's important to understand these exclusions and limits upfront, so you know what you're covered for. For ANZ Home Insurance, check the ANZ Home Insurance Product Disclosure Statement – issued by CGU Insurance.

4. Keep your policy details close to hand

Make sure that you keep your policy number on file in a place that's easy to find. If you ever need to make a claim, it helps speed things up when you have your policy number, so it's a great idea to have your cover details in reach when you need them most. 

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What are the top home and contents insurance tips?
2023-08-17
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This information is current as at date of publication and is subject to change.

For new policies commencing from 3 July 2023 (inclusive) or policies migrated from QBE Insurance (Australia) Limited from 7 August 2023 (inclusive), ANZ Home Insurance is issued by Insurance Australia Limited (ABN 11 000 016 722, AFSL 227681) trading as CGU Insurance and distributed by ANZ under its own license. ANZ recommends that you read the ANZ Financial Services Guide (PDF), ANZ Home Building Key Facts Sheet (PDF), ANZ Home Contents Key Facts Sheet (PDF), ANZ Home Insurance Target Market Determination (PDF), ANZ Home Insurance Premium, Excess and Discounts Guide (PDF) and the ANZ Home Insurance Product Disclosure Statement (PDF) (available online or by calling 13 16 14), before deciding whether to acquire, or to continue to hold, this product.

For policies commenced before 3 July 2023 or policies renewed before 7 August 2023, ANZ Home Insurance is issued by QBE Insurance (Australia) Limited (ABN 78 003 191 035, AFSL 239 545). ANZ recommends that you read the ANZ Financial Services Guide (PDF), ANZ Home Building Key Facts Sheet (PDF), ANZ Home Contents Key Facts Sheet (PDF), ANZ Home Insurance Target Market Determination (PDF) and the ANZ Home Insurance Product Disclosure Statement (PDF) (available online or by calling 13 16 14), before deciding whether to acquire, or to continue to hold, this product. 

Although Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522 AFSL 234527 distributes these products, ANZ does not guarantee or stand behind the issuers or their products.

This information is of a general nature and has been prepared without taking account of your objectives, financial situation or needs. You should consider whether the information is appropriate for you having regard to your objectives, financial situation and needs. 

Up to an extra 25% on top of your building sum insured (known as Safety Net) if your home needs to be rebuilt or repaired as a result of an incident CGU has agreed to cover and the cost to repair or rebuild your home is higher than the building sum insured.

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