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One of Australia's biggest regional banks, Bank of Queensland also offers many insurance products. BOQ offers two home and contents insurance policies issued by Vero. Both policies have extensive features and benefits, such as cover for rebuilding costs and new for old contents cover. Both policies also offer flexible excess if you wish to lower your premiums.
Read on to learn about Bank of Queensland's cover options, exclusions and unique features.
Bank of Queensland offers two home and contents insurance policies, both of which are issued by Vero.
Vero Secure Home Extra Insurance provides cover against loss or damage to your home or contents caused by a wide range of defined events, including flood, storm, lightning, fire and theft. This includes cover for reasonable rebuilding costs and removal of debris, as well as new for old contents cover, electrical motor burnout cover and cover for your home office equipment. $20 million of public liability cover is also included.
Secure Home Elite Insurance from Vero covers your home and contents against loss or damage as a result of flood, storm, theft, vandalism, fire, explosion and more. It also covers all your contents against accidental loss or damage and provides automatic cover for valuable items like jewellery and mobile phones. $20 million of public liability protection is included as well, along with cover for rebuilding costs and removal of debris.
The excess is the amount you have to pay for each incident that results in a claim. Sometimes more than one type of excess may apply.
The types of excess are:
There are circumstances in which Bank of Queensland will refuse a claim. Your home insurance claim will not be paid if:
Bank of Queensland home insurance policies are available to all Australian homeowners. There are no special eligibility criteria you need to satisfy in order to qualify for a policy.
It’s important to contact the insurer as soon as possible after any event that may lead to a claim. You will need to follow a few simple steps when loss or damage occurs:
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