Looking for cover to protect your assets? Review two policies from ANZ that help safeguard your home and its contents.
If you're looking for insurance to protect your most valuable assets, ANZ provides cover for accidental breakage, theft, vandalism, floods and more. This review explores what each policy covers, and what it excludes.
What options does ANZ Home Insurance offer?
Contents insurance only covers the contents of your home, not the structure itself. It is useful for those who do not own the building, including renters or people living in a strata complex. Home contents covers items like computers, furniture, mirrors and glassware, clothes, carpet and digital media. You may select optional portable contents cover, which will cover your possessions whether they are in your home or not.
You can also purchase building and contents insurance together as a home and contents package at a discounted rate.
Building insurance covers the physical structure of your property against a range of disasters and accidents. Events insured against include fire, broken glass, and damage from burglary, falling trees and branches, flood and power surge. There are also a number of additional benefits that help cover associated costs like travel cancellation, mortgage discharge fees and legal fees relating to an insured event.
Note that building insurance covers the structure and fixed furniture only, but not fixtures such as curtains, carpet and light shades.
Home and contents insurance
In addition to selling building and contents cover separately, ANZ also offers them together in one convenient package. With a combined policy, your home and its contents will each be protected against the same set of insured events.
A combined building and contents policy makes sense for homeowners who not only have a lot of value in their home itself, but who also have a significant amount invested in their belongings.
ANZ offers one of the widest range of optional add-ons you’ll find. These allow you to fine-tune your policy so it works harder for you. ANZ offers the more common add-ons like protection against accidents you cause, loss or damage to items outside the home and loss or damage of high-value items.
Some not-so-common options ANZ offer are protection for frozen food that’s become spoiled, workers’ compensation for people you employ in your home and cover for fractured limbs (seniors only).
While flood protection is an optional add-on with most other insurers, it comes stock standard with ANZ.
What's covered under each policy?
|ANZ Cover you for:||Buildings Only||Home & Contents|
|Full building replacement|
|New for old contents replacement, regardless of age|
|Flood, bushfire and other natural events. Policies do not cover loss or damage caused by a bushfire that occurs within 48 hours of the start of your policy.|
|Accidental breakage, theft and vandalism|
|Contents away from home, anywhere in the world|
|Motor burnout (fusion). For example, if your freezer or air conditioner breaks down.|
What does the comprehensive policy cover?
Here is what the top-level home and contents insurance with ANZ covers:
- Full building replacement, including temporary accommodation, architects and legal fees, and demolition and debris removal costs
- Cover against natural disasters, including floods, fire and earthquakes
- Accidental glass breakage and impact damage
- Electrical motor burnout and power surge
- Worldwide portable contents cover
- New for old replacement regardless of age
- Accidental damage and loss for your contents
- Theft of cash and belongings
- Replacement lock and keys
- Guest belongings
- Storage costs
What are the exclusions?
Like all insurance products, there are a number of exclusions which are not covered by ANZ's home insurance. Each insured event has its conditions and maximum benefit limits. Here are some of the general exclusions for all ANZ home insurance products:
- Any event that does not occur within your period of insurance
- War or warlike activity, however, war does not need to be declared.
- Hostilities, rebellion, insurrection or revolution.
- Contamination or pollution by chemical, biological, radioactive or nuclear agents, which results from an act of terrorism.
- Lawful damage, destruction or confiscation of your property.
- Anything nuclear or radioactive.
- Mildew, atmospheric or climatic conditions.
- Damage to a heating element, however, ANZ will pay for any loss or damage resulting from damage to a heating element.
- Storm surge, except where it happens at the same time as flood.
- Action by the sea unless the loss or damage is the result of a tsunami.
For a full list of exclusions and conditions, ensure you read the product disclosure statement, to make sure ANZ’s home insurance is right for you.
How much excess will I need to pay?
You may choose how much excess you wish to pay. By increasing the excess, you can reduce the premium.
You only need to pay the excess once for each claim you make, regardless of the number of items or amount claimed. If your building and contents policies have a different amount of excess, you must pay the higher amount when making a claim on both policies.
If you are making a claim due to loss from an earthquake or tsunami, you must pay an additional $250 excess.
How can I make a claim?
You can make a claim 24/7 by contacting ANZ by phone. You should make your claim as soon as possible as delays may reduce the amount payable to you. To claim you may need any of the following:
- Proof of ownership
- Quotes from a repairer
- A police event report number
If you need to make emergency repairs, ANZ can help arrange this through their preferred repairers and suppliers.