Hume Bank Home Insurance Review

Its helpful inclusions and monthly premiums are some of the reasons worth considering Hume Bank home insurance.

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Our Verdict

  1. It comes with a few pretty unique perks. For instance, if your building is totally destroyed, in addition to the sum insured you select, it will pay up to $5,000 to help you make the new building more environmentally friendly.
  2. Hume Bank Home Insurance lets you pay monthly at no extra cost. Insurers including Budget Direct, Qantas and Virgin don't do this.
  3. Its 20% discount for buying online and combining building and contents insurance isn't market-leading — Budget Direct, St. George and Westpac can all offer more.

Review by our insurance writer Gary Hunter

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Hume Bank home insurance cover options

Hume Bank offers both building and contents insurance. Renters, for example, might just want contents insurance to cover their belongings, while a homeowner may want complete protection with both home and contents insurance.

  • Building insurance. This covers the structure of your home itself and its fixtures. Generally, if it's a permanent part of the building, it will be covered under building insurance.
  • Contents insurance. This covers the contents of your home and your possessions. Generally, if it's removable, it will be covered under contents insurance.
  • Building and contents insurance. This is for those who want both their home and its contents to be protected.

It also comes with the following optional covers:

  • Accidental damage
  • Flood
  • Motor burnout
  • Domestic workers' compensation
  • Portable contents

What am I covered for?

Hume Bank home and contents insurance can cover you for loss or damage resulting from:

  • Fire or smoke (including bushfires and grassfires)
  • Storm, cyclone, rainwater or run-off
  • Water or other liquid damage
  • Theft or burglary
  • Explosion
  • Accidental breakage of glass or ceramic items
  • Impact damage
  • Vandalism or malicious damage
  • Lightning
  • Earthquake or tsunami
  • Riot or civil commotion

Did you know?

Am I covered for flooding?

Hume Bank can cover your home against flooding as an optional extra. This means that you don't have to pay for it if you don't need it, but you won't be covered for it unless you add it to your policy. Approval for flood cover may be subject to eligibility criteria.

What are the extra benefits and features?

Some of the perks to getting a policy with Hume Bank home insurance include:

  • Up to 10% off your first year's premiums when you buy online
  • Up to 10% off if you combine home and contents cover
  • 24/7 claims assistance
  • Pay by the month at no extra cost

What exclusions should I be aware of?

Exclusions and conditions apply to each cover type, as with any other insurance policy. Generally, the exclusions are similar to what you'd find with any typical home and contents insurance policy. You should check the PDS for the full terms and conditions. Some of the key exclusions with Hume include:

  • Flood cover. This cover is only available as an optional extra when agreed to by Hume Bank.
  • Cover for the actions of the sea. This includes high tides and storm surges. Damage caused by the ocean is generally not covered.
  • Cover for earth movements. Soil movement including erosion, landslides, mudslides or subsidence, unless it occurs within 72 hours of an explosion, earthquake, tsunami, storm or flood (provided you have added flood cover).
  • Wear and tear. This includes depreciation, gradual deterioration, wear and tear or lack of maintenance.
  • Inherent defects. This refers to faulty design or materials, structural defects or poor workmanship.
  • Illegal contents or personal effects. You won't be covered for any illegally acquired items.

For a full list of exclusions, read the product disclosure statement (PDS).

How do I make a claim?

If you're making a claim for malicious damage, theft or attempted theft, burglary or loss of insured property, you should contact the police before making a claim. In all cases you should:

  1. Take all reasonable and safe steps towards preventing further damage.
  2. Keep all the right evidence to support your claim.
  3. Contact Hume Bank.

Generally, you'll need to provide proof of value or ownership to support a claim, such as photos, receipts, official valuations or instruction manuals.

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