Citibank Home Insurance

Need home and contents insurance? Compare three Citibank policies and get a 10% discount if you buy online.

Citibank offers Australian home owners three home and contents policies: Prestige, Classic and Vital Home Insurance. While each policy has some features in common there are different levels of liability cover and benefits, so it's worth looking closely at each. All Citibank's policies come with 24/7 claims support and a 10% discount for purchasing online.

finder.com.au does not currently have access to this home insurance brand. You may wish to compare options available on the home insurance homepage.

Citibank home insurance cover levels

Prestige Home Insurance

Prestige Home Insurance from Citibank is designed to provide comprehensive cover for your building and contents against accidental loss or damage. $20 million of legal liability cover is also included along with optional cover for your personal effects.

  • Covers your building and contents against accidental loss or damage
  • Covers accidental glass breakage
  • Covers fusion of electric motors
  • Temporary accommodation costs
  • $20 million legal liability cover
  • Automatic indexation
  • Optional cover for personal effects
  • 24/7 claims service
  • Save up to 10% when you buy online

Classic Home Insurance

Citibank Classic Home Insurance provides cover for your home and contents against a wide range of insured events, including accidental breakage, fire, explosion, storm, theft and malicious acts. This includes cover for temporary accommodation costs, removal of debris, open-air contents, credit cards and replacement of locks.

  • Home and contents cover for accidental breakage, earthquake, explosion, fire or smoke, impact damage, lightning, malicious acts, riots, storm, theft, burglary, water damage and more
  • Covers fusion of electric motors
  • Temporary accommodation costs
  • Removal of debris
  • Cover for open-air contents
  • $20 million legal liability cover
  • Optional cover for personal effects
  • Covers loss or damage
  • Automatic indexation
  • 24/7 claims service
  • Save up to 10% when you buy online

Vital Home Insurance

Citibank Vital Home Insurance provides essential cover for your home and contents. It covers the same events as a Classic Home Insurance policy, including fire, theft, storm and impact damage, but offers lower benefits in some cases. $10 million legal liability cover is also provided.

  • Home and contents cover for accidental breakage, earthquake, explosion, fire or smoke, impact damage, lightning or thunderbolt, malicious acts, riot or civil commotion, storm, theft, burglary, water damage and more
  • Covers electric motor fusion
  • Temporary accommodation costs and removal of debris
  • Cover for guests’ contents
  • $10 million legal liability cover
  • Automatic indexation
  • 24/7 claims service
  • Save up to 10% when you buy online

General exclusions

There are always exclusions to every policy. Citibank will not pay a home insurance claim if:

  • It is caused by flood
  • It is caused by action of the sea, high water, tidal wave or tsunami
  • It is caused by erosion, landslide or subsidence, unless it is caused by and occurs within 72 hours of an explosion, earthquake or storm
  • It is caused by shrinkage or expansion of earth or land
  • It is for loss or damage to swimming pool or spa covers
  • It is caused by water entering your buildings through an opening made for renovations, repairs or extensions
  • It is caused by a lack of maintenance, wear and tear or neglect
  • It is caused by water penetrating into your buildings as a result of structural defects, faulty design, faulty workmanship or your failure to maintain the buildings
  • It is caused by the roots of trees
  • It is caused by settling, shrinkage or expansion in buildings or foundations
  • It is caused by the incorrect siting of buildings
  • It is caused by theft or burglary committed by you or your tenants, the invitees of you or your tenants, or anyone acting with your consent
  • It is for consequential loss

Who is eligible for a policy with Citibank?

Citibank home insurance is available to any Australian homeowner. There are no special eligibility rules that need to be met, so compare this policy with other home and contents policies to decide whether it’s right for you.

Home insurance excess

The excess is the amount you must pay towards a claim, except in cases where the insurer states that an excess does not apply. The excess amount that applies to your policy is shown in your policy schedule and you only need to pay one excess for a single claim:

  • Occurring due to the same insured incident, or
  • Involving loss or damage to both building and contents caused by the same insured event

A $200 excess applies to earthquake claims, while you also have the freedom to adjust your basic excess amount higher in return for cheaper premiums.

Making a claim on your insurance

If you need to make a claim on your Citibank policy, you can do so 24 hours a day, 7 days a week by contacting the insurer’s claims hotline. Your claims consultant will be able to guide you through the process and answer any questions you have about claiming.

There are also a few important things to remember to ensure that your claim is processed as quickly as possible:

  • Do not admit any guilt or liability.
  • Take all reasonable steps to prevent any further loss or damage.
  • Contact the police immediately in cases of theft, attempted theft, burglary or malicious damage.
  • Contact the insurer as soon as possible after an incident to make your claim.
  • Provide any necessary information to support your claim such as proof of ownership, valuations and evidence of the loss or damage.

Further questions about home insurance

Yes, you can access a discount of up to 10% when you take out combined home and contents cover.

Yes, you have the option of increasing the excess you will pay in the event of a claim to receive a lower premium in return.

A cooling-off period of 14 days applies to Citibank’s home and contents insurance policies.

Prestige, Classic and Vital Home Insurance policies from Citibank are underwritten by Allianz Australia Insurance Limited.

You have the option to pay your premium in monthly instalments or as an annual lump sum.

No, Citibank’s policies do not provide flood cover.

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