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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.
Why should I speak to a broker about home insurance?
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:
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.
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).
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:
Features | Accidental Damage | Listed Events | Fundamentals |
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Accidental damage or accidental loss |
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Alternate accommodation |
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Architects, surveyors and legal fees |
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Burning out of an electric motor |
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CDs, DVDs, Bluray® discs, and digital downloads |
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Contents at home in the open air |
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Credit card and transaction card misuse |
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Fine art, paintings and works of art |
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Flood cover (automatic) |
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Frozen food |
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New for old replacement cover (Contents) |
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Removal of debris and demolishing costs |
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Replacing keys and recoding of locks and barrels |
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Valuable items |
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Optional additional valuables cover |
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Vet expenses if your pet is injured in a road accident |
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CGU’s list of exclusions stipulates that your home insurance claim will not be paid if:
There are several factors that can influence the cost of your CGU Home Insurance, including:
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.
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.
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.
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