Need to protect your home and possessions from the unknown? Discover if QBE Home Insurance is the right fit for you.
QBE Insurance have been looking after the needs of Aussie's for over 125 years. In addition to car and travel insurance, QBE also offer home and contents insurance policies. Cover your home, fixtures and belongings and bask in the peace of mind that a comprehensive insurance policy can give you.
This review will explore the different policies on offer from QBE and what each covers.
What policy options do I have?
This policy provides cover for the structure of your home, including your garage, outbuildings and even your pool. When fire, theft, storm, flood, lightning, riot and a range of other incidents damage or destroy your home, QBE can provide the cover you need. Other features include cover for temporary accommodation costs, accidental glass breakage and legal liability protection.
Your possessions are the most important items in the world, so this policy ensures that they are safeguarded against an extensive selection of risks. This includes cover for your carpets, furniture, home entertainment system, the stuff in your backyard shed and more. QBE offers new for old replacement on most items and allows customers to choose the excess they pay. Legal liability cover is also included.
Home and contents
If you want the most comprehensive coverage then QBE's Home and Contents insurance policy is your best bet. It combines the cover offered under the Home Insurance and Contents Insurance policies to create a policy that offers the ultimate level of protection. As well as legal liability protection, this policy also covers accidental glass breakage, loss of credit cards, damage to external door locks and keys, three months of cover for contents in storage, rebuilding costs and the removal of debris. A 30% building sum insured safeguard is also included for situations where your building suffers a total loss.
How do the policies compare?
|Event||Home||Contents||Home and Contents|
|Essential temporary repairs|
|Actions of the sea|
|Escape of liquid|
|High-value items and collections|
|Removal of debris|
|Open air contents|
|Credit card cover|
Regardless of which QBE Home Insurance policy you choose, there are certain circumstances under which your claim will not be paid. These include if your claim:
- Relates to the lawful seizure or repossession of your home or contents
- Is caused by invasion, war or rebellion
- Results from an act of terrorism related to biological, chemical or nuclear weapons, pollution or contamination
- Results from a deliberate act by you, a family member or someone acting with your consent to cause the item to be lost or damaged
- Is for wear and tear or deterioration
- Is for depreciation
- Results from damage caused by atmospheric conditions, vermin, mould, mildew, rot, insects, action of light or inherent defect
- Results from any cleaning, repairing, restoring or altering
- Is for financial or consequential loss.
How much will this cost me?
The following factors can all affect the cost of your QBE home insurance premiums:
- Sum insured. If the sum insured of your property is worth more, your premiums will be higher.
- Level of cover. If you are opting for a more comprehensive policy then you will likely be paying more. However, being overinsured is far better for your hip-pocket than being underinsured, especially in the long-run.
- Location. Certain insured events are more at risk of occurring in specific areas of the country. For example, you have live in a suburb with a high crime rate or in a region prone to violent and damaging storms, your premiums will cost more as there is a higher likelihood that you will need to make a claim.
- If you have a no claim bonus discount. This will help shave big discounts off the top of your cover.
- Your insurance history. A history of past claims on your home insurance policy will influence your risk profile.
- The construction and age of your home. The owners of older homes are generally more likely to make a claim, while the construction of your home can affect the likelihood of it suffering damage or loss.
- Optional benefits. These added benefits are available at an extra cost to you.
How to can I pay less for my policy?
- Flexible excess. You can lower the cost of your premiums by applying a higher excess.
- Annual premium discount. If you pay your premium upfront (as opposed to monthly) you can save cash.
- Claims experience bonus. If you haven't made a claim before you are eligible for a bonus. The discount increases each year you do not make a claim until you reach the maximum discount limit.
- Security discount. If you have security features already installed in your home you're likely to pay less. These act as a deterrent to thieves and mean you will be less likely to ever have to make a claim.
- Retirees discount. Policyholders who are also retirees can take advantage of cheaper home insurance cover from QBE.
- Renew your policy. You'll receive a higher discount every time you renew your policy with QBE (until you reach the maximum).
How can I make a claim?
If an insured event occurs, make sure that you take all possible steps to prevent any further loss or damage. If theft or vandalism has occurred, report it to the police immediately.
You can then call QBE or visit the QBE website to inform them what has happened. A QBE representative will take you through the claims process to give you an accurate idea of what you need to do next. If QBE requires it, you will need to complete a claim form and also provide any supporting documentation required to assess your claim. This could include letters, valuations, receipts or proof of ownership.
Still have questions about QBE insurance?
Q. Does my home and contents policy provide cover for accidental damage?
A. While this feature is not automatically included in cover, you can add it to your policy for an extra cost.
Q. Which policy covers my carpets and blinds?
A. These are covered under QBE Contents Insurance.
Q. Does QBE Contents Insurance cover my items when they are away from home?
A. No, this feature is not automatically included in your policy. However, you can choose optional Portable Cover Optional Benefit that safeguards your items against accidental loss or damage anywhere in Australia or New Zealand. This can be extended to worldwide cover if you wish.
Q. I’m going overseas for a holiday - do I need to tell QBE about this?
A. If your house will be left unoccupied for more than 30 days, you’ll need to get in touch with QBE to ensure that your cover continues.