Think you've got enough cover on your home?
We hate to be the bearers of bad news but according to the Insurance Council of Australia, 83% of Aussies don't have enough insurance cover for their combined home and contents. This is known as underinsurance and it can be almost as bad as not having insurance at all.
Let's say your home and everything in it was worth $2 million and a fire destroyed it all. Having your stuff insured for half that would help, but you'd still be reeling.
Here are some tips to help you avoid this fate:
- Do the maths. Be as detailed as possible in your calculations. There are plenty of online calculators to help you.
- Don't cut corners. Don't insure something important for lower than what it's worth, and don't pass on extras you know you might need (like flood cover when you're on a flood plain). You might save a few bucks on your premium but find yourself on the hook for thousands if you ever need to claim.
- Details, details, details. Sometimes the devil is in the detail. For example, your contents protection might give you $50,000 worth of cover but cap your payout at $2,000 per item. If your $10,000 wedding ring gets stolen, a $2,000 payout probably won't cheer you up much. In this instance, you'd need to declare the ring separately.
- Review early, review often. There's a good chance the value of your stuff will change over time. Property values never stay the same, and you'll always be bringing new gadgets into your house. If the value of everything changes, adjust your cover as necessary.

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You can trust us. We say it like it is. We aren't owned by an insurer and our opinions are our own.
Who insures homes in over 55 villages?
Hi Dave,
APIA and MHIA are insurers that can provide insurance for over 55 markets.
Hope this helps!
If you have an existing home and contents policy and you want to cancel the home policy and just keep the contents side of the policy, if you’re moving house, can this be done? Isn’t it breaking a policy contract?
Hi Paul,
Thank you for getting in touch with finder.
I suggest that you contact your insurer on this matter as they may provide you a more accurate info on changing your cover or level of cover.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
Can you tell me of insurance companies that handle Strata building insurance. Thanks
Hi Ken,
Thanks for reaching out.
If you live in strata such as an apartment block, your body corporate will have their own strata insurance that generally provides cover for your building, parking, and other shared areas. In most cases, you will be required to pay strata fees. Strata do not cover you for interior fixings, so most homeowners with a strata-titled property will also take out a contents-only policy. Alternatively, you may speak with a mortgage broker for you to get specialised advise.
Cheers,
Joanne
how much would 250000 cost for dwelling insurance and contents 100000 cost or 130000 cost cover should cover any structural damage caused by floods and fire home is protected by alarm system and bolts to all windows and doors smoke alarm fitted sincerely Annette
Hi Annette,
Thanks for getting in touch.
If you need to know about the cost of your premiums, please check with your insurer. They are in the best position to provide you a quote.
In case you don’t have an insurer yet, please feel free to use our table with a list of home and contents insurance to compare your options. Once you are ready, you can then click on the “Go to site” green button to learn more or initiate your online application.
I hope this helps. Should you have further questions, please don’t hesitate to reach out again.
Have a wonderful day!
Cheers,
Joshua Infantado
Do you insure transportable Park Homes, home and contents also our private car. Thank You
Hi Eric,
Thanks for your question.
Currently, we have two insurers in our panel:
Westpac Home Insurance and Woolworths Home Insurance.
If you are interested in either of these products, please review the pages above. Please make sure to read the eligibility criteria, features, and details of the policy, as well as the relevant Product Disclosure Statement of the policy before making a decision and consider whether the product is right for you. If necessary, speak to the insurance brand to verify any details.
I hope this was helpful,
Richard