Is CGU Home Insurance right for you? Read our review and compare policies, and find out.
CGU Home Insurance provide three levels of cover for Australians: Accidental Damage, Listed Events and Fundamentals. These policies provide options suitable to various homes and budgets. Keep reading to find out more about these options, who they're suited to and more.
CGU Home Insurance Cover Options
CGU Home Insurance Accidental Damage Cover
Top-level cover from CGU provides cover for everything that the Listed Events policy does, but it also provides cover for accidental loss or damage to your contents no matter where they are in Australia. Higher limits for valuables are available than on the other two policies, while flood cover and new for old replacement cover are once again included. This policy is designed to offer complete peace of mind when it comes to your home and contents and includes cover for:
- Accidental Damage provides cover for Listed Events
- Accidental loss or damage to your contents anywhere in Australia
- Loss or damage to your valuables is covered up to 20% of your contents sum insured or $7,500, whichever is greater (up to $2,500 per item)
- Optional worldwide valuables cover
- Removal of debris and demolition
- Frozen food following the breakdown of a freezer
- New for old replacement cover.
CGU Home Insurance Listed Events Cover
Listed Events Home and Contents Insurance from CGU covers everything a Fundamentals policy does, but it includes additional benefits and higher cover limits. Damage or loss caused by fire, explosion, theft, lightning, malicious damage, storm, rainwater or wind damage and may other risks is covered, while flood cover is included as standard. Other features include new for old replacement cover, valuable items cover and protection for your contents when they’re away from home.
- Accidental breakage
- Burglary or break-in
- Deliberate or intentional acts
- Earthquake or tsunami
- Fire
- Explosion
- Impact damage
- Landslide or subsidence
- Lightning or thunderbolt
- Riots or civil commotion
- Storm
- Flood
- Rainwater or wind
- Vandalism
- Malicious acts
- Water or liquid damage
- Alternative accommodation costs when your home is unfit to live in
- Credit card and transaction card misuse
- Demolition and debris removal costs
- Rebuilding fees.
Offering a higher level of protection than the entry-level Fundamentals policy, CGU Listed Events Home Insurance covers you against all the same events. However, it includes additional benefits and higher cover limits in many scenarios. For example, while the Fundamentals policy provides up to $1,000 of cover for contents at home in the open air, the Listed Events policy provides up to $2,000 of cover. In terms of cover for credit and transaction card misuse, the $1,000 cover limit on the Fundamentals policy rises to $5,000 on the Listed Events policy. Your valuable items such as jewellery, mobile phones and tablets can also be covered under the policy up to 20% of your contents sum insured or $5,000, whichever is greater (up to $2,500 per item).
CGU Home Insurance Fundamentals Cover
This policy is designed to provide a basic level of cover for your building and contents, protecting them against loss and damage at an entry-level price. Burglary, fire, storm, rainwater, liquid or wind damage, deliberate and unintentional harm are all listed as insured events on this policy. Flood cover is also included as standard, while CGU’s 24/7 claims handling service adds an extra level of convenience and peace of mind.
Fundamentals Home Insurance from CGU covers your home, outbuildings, swimming pool, fences and the like against loss or damage caused by a wide range of insured events. It also covers your furniture, electrical appliances, clothing and more against the same events. Covered events include:
- Accidental breakage
- Burglary or break-in
- Deliberate or intentional acts
- Earthquake or tsunami
- Fire
- Explosion
- Impact damage
- Landslide or subsidence
- Lightning or thunderbolt
- Riots or civil commotion
- Storm
- Flood
- Rainwater or wind
- Vandalism
- Malicious acts
- Water or liquid damage
- Alternative accommodation costs when your home is unfit to live in
- Credit card and transaction card misuse
- Demolition and debris removal costs
- Rebuilding fees.
| Features | Accidental Damage | Listed Events | Fundamentals |
|---|---|---|---|
| Accidental damage or accidental loss | yes | no | no |
| Alternate accommodation | max 10% of sum | max 10% of sum | max 10% of sum |
| Architects, surveyors and legal fees | max 10% of sum | max 10% of sum | max 10% of sum |
| Burning out of an electric motor | yes | yes | no |
| CDs, DVDs, Bluray® discs, and digital downloads | yes | yes | yes |
| Contents at home in the open air | max $2,000 | max $1,000 | |
| Credit card and transaction card misuse | max $5,000 | max $5,000 | max $1,000 |
| Fine art, paintings and works of art | yes | yes | yes |
| Flood cover (automatic) | yes | yes | yes |
| Frozen food | includes accidents | max $500 | no |
| New for old replacement cover (Contents) | yes | yes | yes |
| Removal of debris and demolishing costs | max 10% of sum | max 10% of sum | max 10% of sum |
| Replacing keys and recoding of locks and barrels | no limit | up to $1,000 | up to $1,000 |
| Valuable items | max $7,500 | max $5,000 | max $2,000 |
| Optional additional valuables cover | nil excess | nil excess | no |
| Vet expenses if your pet is injured in a road accident | max $500 | max $500 | no |
Any exclusions that could affect my claim?
CGU’s list of exclusions stipulates that your home insurance claim will not be paid if:
- It is for settling, shrinkage or movement of the earth
- It is for erosion, rust, mould or mildew, wear and tear or gradual deterioration
- It is for loss or damage caused by rats, mice or insects
- It is caused by roots from trees, shrubs, plants or grass
- It results from any cleaning process involving the use of chemicals (except domestic household chemicals)
- It is caused by a defect, structural defect, or faulty workmanship or design
- It is for breakage of mirrors, glassware or crockery while they are being used or carried by hand
- It is for malicious damage, vandalism, theft or deliberate or intentional acts by a tenant
- It is for mechanical or electrical breakdown other than an electrical motor burning out
- It is for landslide or subsidence
- It is a result of water entering your building through an opening made for construction, renovation or repair work
- It is for personal injury to you or a family member who normally lives with you
- It is caused by acts of war, revolution or rebellion
- It results from the lawful destruction or confiscation of your property
- It is the result of a deliberate or intentional act by you to cause loss, damage or liability
- It is caused by a storm surge
- It is caused by the presence of asbestos at the insured property
- It is the result of an unlawful or illegal act by you, or someone who lives with you.
What affects my CGU premiums?
There are several factors that can influence the cost of your CGU Home Insurance, including:
- The level of cover you choose. Each CGU Home Insurance policy option provides a different level of cover and is offered at a price point to match. Choosing a lower level of cover will obviously mean cheaper premiums.
- The sum insured. The lower the sum insured you nominate, the more affordable your insurance cover will be. The value of your home and contents and how much they will cost to replace therefore needs to be taken into account. CGU offers handy online calculators to help you work out just how much cover you need.
- How you use your home. If you operate a business out of your home or regularly leave it unoccupied for long periods, this can affect the cost of cover.
- Where your home is located. If you live in an area where the rate of theft and burglary is high, you can expect your premiums to reflect this increased risk. Similarly, if your region is prone to natural disasters, for example floods or bushfires, you can also typically expect to pay more for cover.
- Your home. Consider how old your home is and the materials it is constructed of, as both of these factors can affect its overall ability to withstand damage.
When does excess affect my policy?
When you make a claim on your CGU Home Insurance policy, you’ll need to contribute towards the cost of that claim by paying an excess. The amount and type of excesses that apply to your cover will be shown in your policy schedule. For example, in addition to the basic excess amount, you may need to pay an additional $250 excess if you make a claim for earthquake or tsunami.
The amount of excess you will need to pay is influenced by factors such as the age and construction of your property, its location, and your previous insurance history.
Back to topSo, how do I make a claim?
Before you contact CGU to make a claim, make sure that you have all the information necessary for your claim to be processed. This could include the contact details of anyone else involved in the incident, copies of letters and court documents relating to the incident, and a police incident report number where applicable.
It’s important that you contact CGU as soon as possible in order to prevent your claim being reduced or refused. In order to assess your claim, CGU may request you to provide proof of ownership, may need to inspect your building or contents, and may need to obtain quotes from repairers.
Once you’ve provided all relevant information, your claim can then be assessed and processed.
Back to topCGU FAQs
Q. Are tablets and mobiles covered?
- A. Yes, tablets and mobiles are covered under your contents insurance as valuable items. How much you're covered for depends on your policy.
Q. What is liability cover?
- A. The limit for liability claims with CGU Home Insurance is $20 million. This covers you in situations when, for example, a guest falls down and injures themselves.
Q. What levels of home insurance cover are available from CGU?
- A. CGU offers the following three policies, each of which offers a different level of cover: Accidental Damage is the highest level of cover, Listed Events offers standard cover and Fundamentals provides basic protection.
Q. Are my contents covered while I’m moving house?
- A. Your contents are covered by CGU while they are in the process of being moved to your new home, regardless of whether you are moving within Australia or overseas.
Q. Is flood cover included in my policy?
- A. Yes, flood cover is automatically included in CGU’s Home and Contents Insurance.
Q. Is cover provided for visitors’ belongings while they are in my house?
- A. Yes, up to $5,000 of cover is provided for the belongings of your visitors if they are damaged by an insured event. However, cover only applies if those belongings are not already insured under another policy.
Ready to compare your home insurance options online?
If you require insurance cover for your home and contents, consider the policy offerings from CGU. However, make sure to compare these policies with a range of others on the market to guarantee that you will end up with adequate protection for your unique needs.
