Home insurance can keep the roof over your head and your belongings close at hand. But is GIO right for you?
For almost 100 years, GIO has protected its customers against life’s bumps and breaks. When it comes to home insurance, it’s important to know that when you walk out the front door, you’re covered against loss or damage to your home or contents.
GIO Home Insurance offers a range of policy options and levels of protection. Finding the right choice for your home can be daunting. Luckily, we’ve broken it down for you, laying out what your options are, what’s included and what isn’t, as well as optional extras and how to make a claim.
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What cover options are there?
- Contents Insurance. Keep your belongings safe against loss or damage whether you keep them at home, in storage or in transit. Contents would be considered anything not fixed to the house.
- Home Building Insurance. Cover the roof over your head with Home Building Insurance. It protects both your building, as well as attached property such as a garage, decking, garden and driveways.
- Home and Contents Insurance. Protect your home and everything in it against a range of incidents, from fire to fraud. A combination of both policies, Home and Contents is the most comprehensive policy GIO offers.
As well as choosing what you want covered, you can also select your level of cover. Each level offers different optional benefits and claims limits. These options are:
- Classic. Standard cover with optional covers available at a higher premium.
- Classic Extras. Offering the same level of cover as Classic but with higher claim limits. Some optional covers are included.
- Platinum. The highest level of cover available, with extra claim limits and most additional cover options included.
How does each cover type compare?
All policies cover damage and loss as a result of flood, storm, lightning, fire, earthquake, tsunami, theft, burglary, accidental breakage of glass, escape of liquid, impact, damage by an animal, explosion and malicious acts of vandalism.
| Home Building | Contents | Home and Contents | |
|---|---|---|---|
| Legal liability | |||
| Lifetime guarantee on authorised repairs | |||
| New for old replacement | |||
| Storage of undamaged contents | |||
| Cost to re-establish important documents | |||
| Supplementary living expenses | |||
| Temporary accommodation costs | |||
| Mortgage discharge costs | |||
| Loss of renewable energy supply | |||
| Environmental improvements | |||
| Garden and plant damage | |||
| Debris removal | |||
| Make safe repairs and other rebuilding costs | |||
| Leak exploration costs | |||
| Lock replacement | |||
| Security call-out fees | |||
| Contents in commercial storage | |||
| Contents in transit | |||
| Contents on common property – unit owners | |||
| Contents temporarily removed | |||
| Visitors’ contents | |||
| Food and medication spoilage | |||
| Transaction fraud cover | |||
| Home office equipment | |||
| Tools of trade | |||
| Money, vouchers and cashable items | |||
| Jewellery and watches | |||
| Art and antiques | |||
| Collections and memorabilia |
What additional cover options are there?
- Motor burnout. Cover your home, contents or both against the burnout or fusing of electric motors. This option will also cover the cost to repair or replace the motor.
- Accidental damage at home. Sometimes, accidents happen. This optional cover will protect against accidental damage or loss and is automatically included in Classic Extras and Platinum cover options.
- Safety Net Home Protection. If damage or loss exceeds the sum insured, Safety Net Home Protection covers an additional percentage to repair or replace your home.
- Injury to pets. Covering up to $2,000 for necessary vet bills if a pet dog or cat is injured in an accident.
What exclusions are there?
Each policy will have its own specific exclusions, so make sure you read the fine print before settling on a policy. Some general exclusions include loss or damage from:
- Breaking the law
- Building extensions, alterations or renovations
- Bushfires, storms, floods or tsunamis within the first 72 hours of cover
- Deliberate or intentional action by you or someone on your behalf
- Failing to take reasonable measures to secure your home and/or contents
- Food spoilage
- Tenants, paying guests or boarders
- Gradual deterioration and wear and tear
What excess do I need to pay?
An excess is the amount you have to pay for each incident when you make a claim. Sometimes you might have to pay more than one type of excess. For example, if a storm has damaged your house and a resulting flood damages its contents, you would need to make a separate claim for each incident.
How do I make a claim?
Hold onto any damaged item, reports and documents after an incident and contact GIO as soon as possible, either online or by phone.
- Website: gio.com.au
- Phone: 13 14 46
