CGU Home Insurance

What do CGU home insurance policies include?

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.

Here's a short list of some of the insured events it covers:

If you change your mind and want to cancel your policy, it comes with a 21 day cooling off period – this is the same as the majority of other insurers. You can cancel and receive a full refund, so long as you haven't made any claims. You'll also need to pay an excess whenever you make a claim.

An overview of CGU home insurance features

CGU home insurance complaints

We looked at home insurance complaint data from the Australian Financial Complaints Authority (AFCA) between July to December 2020. The data explores different underwriters and compares their business size to the number of complaints processed.

When comparing insurers, keep in mind that insurers with a larger market share serve more customers so can potentially get more complaints.

CGU home insurance is underwritten by Insurance Australia Limited. The information also includes data from other insurers Insurance Australia underwrites. Here's an overview of how it did:

• It received a large proportion of complaints compared to other similarly sized insurers, though marginally better than AAI (which received 673 in the same period), suggesting it's not the best choice for customer service.

• While it received a lot of complaints, most (283) were resolved.

Bottom line about CGU home insurance

CGU home insurance is good if you want a comprehensive home insurance policy that comes with lots of inclusions. However, it had a high complaints percentage for the period we looked at so consider looking elsewhere if you want an insurer with a good customer service record.

To look at other home insurance policies side-by-side, head to our comparison homepage.

FAQs about CGU home insurance

• How do I make a claim with CGU home insurance?

  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.

  To lodge a claim, call 13 24 80 - it's available 24/7. 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.

• Do I have to pay an excess when I make a claim with CGU?

  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 an 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.

• Who is the underwriter for CGU home insurance?

  CGU home insurance is underwritten by Insurance Australia Limited.

• Are tablets and mobiles covered?

  Yes, tablets and mobiles are covered under your contents insurance as valuable items. How much you're covered for depends on your policy.

• What levels of home insurance cover are available from CGU?

  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.

• Are my contents covered while I'm moving house?

  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.

• Is flood cover included in my policy?

  Yes, flood cover is automatically included in CGU's Home and Contents Insurance.

• Is cover provided for visitors' belongings while they are in my house?

  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.

• Who is eligible for a CGU home insurance policy?

  Here's the key eligibility criteria for a CGU home insurance policy:

  • The type of home you own. It must be a free standing house, townhouse, villa or duplex, semi-detached house or terrace. Registered body corporate buildings and houseboats are not eligible.
  • How you use the home you own. It must be your primary residence or holiday home. It's not suitable if your home is a business, such as a hotel or bed & breakfast.
  • The condition of your home. The home needs to meet acceptable dwelling criteria; for instance, it must be secure, watertight, structurally sound and well maintained. It's not suitable for homes under initial construction or renovations that cost more than specified in the PDS.

A note about CGU home insurance reviews

If you've held or currently hold a CGU home insurance policy, we'd love to hear from you. Your reviews help other Australians decide if CGU is right for them. Some reviews are from a survey commissioned by Finder.