BankSA Home Insurance
Compare 3 levels of cover to protect your home with Bank SA home insurance.
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BankSA Home Insurance offers three policy types to suit most Australians. These policies cover you for things like natural hazards, thefts and legal liability.
If you're looking for flexibility, BankSA also offers three levels of cover; essential care, quality care and premier care. So you can choose the right policy for your lifestyle.
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What cover options does Bank SA offer?
Essential Care
An Essential Care home insurance policy from BankSA provides cover for your home and contents against a wide range of essential risks. It includes cover for loss or damage caused by fire, flood, storm, theft, malicious damage and more, including safety nets for your building cover (10% of the sum insured) and contents cover (5% of the sum insured). It also covers emergency accommodation costs, removal of debris and professional fees, while $20 million of legal liability protection is available for claims of compensation when a third party suffers an injury or property damage.
Quality Care
BankSA Quality Care home insurance covers your home and contents against accidental breakage, fire, storm, flood, explosion, theft, malicious damage and a number of other events. It includes safety nets for your building cover (20% of the sum insured) and contents cover (10% of the sum insured), as well as cover for demolition costs and removal of debris, professional fees, external locks and keys, emergency contents storage and emergency accommodation costs. $20 million of legal liability protection is also provided.
Premier Care
BankSA Premier Care policies offer comprehensive cover for your building and contents against fire and explosion, flood, storm, accidental breakage, earthquake, lightning, theft, burglary, malicious damage and more. Removal of debris and emergency accommodation costs are also covered as are contents in transit, external locks and keys, and accidental loss or damage. $20 million of legal liability cover is provided along with sum insured safety nets of 30% for buildings and 20% for contents.
What does each option cover?
Essential Care
- Covers loss or damage caused by fire, explosion, flood, storm, earthquake, lightning, theft, burglary, actions of the sea, malicious damage, impact and escape of liquid
- Sum insured safety net
- Demolition and removal of debris
- Professional fees
- Emergency accommodation costs
- Emergency repairs and protection
- New for old replacement regardless of age
- $20 million legal liability cover
- Convenient 24/7 claims support
- Optional personal valuables cover
- Pay by the month at no extra cost
Quality Care
- Covers loss or damage caused by fire, explosion, flood, storm, earthquake, accidental breakage, lightning, theft and burglary, actions of the sea, malicious damage, impact and escape of liquid
- Sum insured safety net
- Removal of debris
- Alternative accommodation costs
- Professional fees
- External locks and keys
- Emergency contents storage
- New for old replacement regardless of age
- Convenient 24/7 claims support
- Optional personal valuables cover
- $20 million legal liability cover
- Pay by the month at no extra cost
Premier Care
- Covers loss or damage caused by fire and explosion, flood, storm, accidental breakage, earthquake, lightning, theft and burglary, actions of the sea, malicious damage, impact and escape of liquid
- Covers accidental loss or damage
- Emergency accommodation costs
- Removal of debris
- External locks and keys
- New for old replacement regardless of age
- Convenient 24/7 claims support
- Optional personal valuables cover
- $20 million legal liability cover
- Pay by the month at no extra cost
What is excluded from my home insurance policy?
Your BankSA home and contents insurance claim will not be paid if:
- It is for events or circumstances that are covered by a warranty, guarantee or service contract
- It arises due to defects in design, structure, materials, workmanship or construction
- You fail to keep the property well maintained, watertight or structurally sound and secure
- You failed to undertake building work that a relevant authority required you to undertake
- It is for wear and tear, gradual deterioration or fading
- It arises due to rust, corrosion, mould or mildew
- It is caused by landslide, subsidence or erosion
- It is caused by vermin, insects or pests
- It is caused by tree roots
- It arises due to electrical, mechanical or computer breakdown
- It arises due to malicious or unlawful acts or use by you, or by someone acting with your consent
- It arises because any person, organisation or authority legally damages, destroys or confiscates insured property
- Your property was being used for any business, trade, profession or occupation
- Your property is unoccupied for more than 60 consecutive days
- It is caused by war or terrorism
- It is for any loss or damage to common property where the home is part of a strata, group or community title plan
How much excess will I need to pay?
The excess is the amount you are required to pay when you make a claim on your BankSA policy. Any excesses that apply to your cover will be shown in your policy schedule.
A minimum basic excess of $100 applies but you have the option to increase this with a voluntary excess and create a higher total basic excess. The total basic excess is made up of your minimum basic excess and any additional voluntary excess you choose, and the following total basic excess options are available:
- $100
- $250
- $500
- $1,000
- $2,000
- $5,000
In some circumstances the insurer may impose an additional excess on your policy when you take out cover.
Who is eligible for BankSA home insurance?
The cover available under BankSA home and contents insurance policies is only offered to residential properties located in Australia. Cover is subject to your application being accepted and premium payments being made on time, while you must also ensure that you satisfy all conditions of cover outlined in the PDS.
What is the claims process?
The claims process on a BankSA insurance policy is fast and simple. You can make a claim 24 hours a day, 7 days a week over the phone, or online via the BankSA website.
All you have to do is follow a few simple steps:
- Make sure everyone is safe and dial 000 in an emergency
- Do everything you can to prevent further loss or damage
- Call the police to report any theft, burglary or malicious damage
- Phone the insurer or lodge your claim online and provide full details of what happened
You will need your personal details and policy number, details of the event (e.g. the date the incident occurred, what happened and what was damaged) and photos or other supporting documentation (if possible). You can contact them on 1300 656 345 for more information about lodging a claim.
