How much does assisted living contents insurance usually cost?

Assisted living contents insurance is typically more affordable than a standard contents policy. This is because you are only insuring your personal belongings not the entire building or the facility's furnishings. The exact cost will depend on the value of the items you choose to insure and any optional add-ons you select.

Do I really need contents insurance in an assisted living facility?

While it is not mandatory, assisted living contents insurance is recommended if you have lots of valuables. Even in a secure facility your personal items can still be lost, damaged or stolen due to various events like fire, storm or theft. This type of insurance provides financial protection and peace of mind for your valuables.

Does this insurance cover nursing homes or high care aged care facilities?

Yes, it can. Apia's Assisted Living Residence Insurance is designed for people who live in an assisted living facility. Its PDS defines this as a facility that is fitted, furnished and staffed to provide accommodation and nursing care to residents who have a continuing need for care. It covers the contents of the room or rooms you live in that are solely for your use. If you live in a retirement village or an apartment, Apia has separate village and apartment policies. Always check the Product Disclosure Statement (PDS) before you buy.

Can my previous home contents insurance policy be transferred to assisted living?

It is unlikely your existing home contents insurance can be directly transferred. Standard home contents policies are typically designed for private dwellings you own or rent independently. When moving to assisted living you will generally need to purchase a specific assisted living contents insurance policy to ensure your belongings are adequately covered for your new living situation.

What should I do if an insured item is lost, damaged or stolen?

If an incident occurs you should first report it to the assisted living facility management. For theft or malicious damage you should also report it to the police and obtain a police report number. Then contact your insurer as soon as possible to lodge a claim, providing all necessary details, photographs and documentation of the incident and the items involved.

How do I cover valuable items I carry outside my assisted living residence?

For valuable items you regularly take outside your assisted living residence such as jewellery, mobile phones or tablets you can usually add "portable contents" cover to your policy. This optional extra provides protection for these specific items when they are away from your home. Be sure to specify the items and their values to your insurer.