Receive up to $20 million in legal liability cover with RACT Home Insurance, Tasmania's leading home and contents insurer
Taking the time to choose the right insurance cover is a crucial step in the home-buying process. RACT has grown to become one of the most recognised insurers in Tasmania offering a home and contents policy with a broad range of cover features. Read on to discover the benefits of this policy, general exclusions applied and conditions for application.
RACT Home Insurance Cover Options
RACT home and contents insurance
Home and contents insurance from RACT protects your building and personal possessions against fire, theft, storms, floods, malicious acts and a number of other insured events. This includes cover for rebuilding and repair costs plus a safety net of 25% of the sum insured to help you get your home back up and running. Authorised repairs are guaranteed for the life of your home.
Other benefits include cover for accidental breakage, keys and locks, landlord’s fittings and temporary accommodation costs as well as $20 million of legal liability protection in case you’re responsible for causing property damage or injury to someone else. You can also take out optional personal effects cover to protect your personal items away from home.
What will the policy cover?
- Covers loss or damage caused by storms, floods, escape of water, lightning, fire, explosions, theft or attempted theft, malicious acts, impacts, animal damage, riots, earthquakes and more
- Rebuilding and repair costs
- Accidental breakage
- Keys and locks
- Damage caused by power surges
- Landlord’s fittings
- Accidental death benefit
- Automatic adjustments to the sum insured
- 25% safety net home protection
- $20 million legal liability cover
- Lifetime guarantee on authorised home repairs
- Covers valuable items such as jewellery and artwork
- Covers temporarily removed contents
- New for old replacement
- Temporary accommodation costs
- Optional personal effects cover for valuables when away from home
General exclusions applied
RACT will not pay your claim in the following circumstances:
- Your home has been unoccupied for 90 consecutive days (unless the insurer has agreed to provide cover).
- It is for loss, damage or liability that arises over time rather than due to a single event.
- It is the result of depreciation, wear and tear, rust, fading, mould, rising damp, mildew, rot or corrosion.
- It is for loss, damage or liability which arises outside Australia.
- It arises due to the lawful seizure or confiscation of any insured item.
- It arises due to an intentional act by you or your family, or by someone acting with your consent.
- It is the result of actions by the sea or high water.
- It arises due to faulty design or workmanship.
- It is the result of war or terrorism.
- It is for the cost of reinstalling or replacing electronically stored files.
- It is for items sent by post or courier.
- It is due to erosion, subsidence, landslide or mudslide.
What excess will be charged?
The excess is the amount you need to pay for each claim under your RACT home and contents insurance policy. You can find the amount of the excess or excesses you need to pay in your policy schedule, and your insurer will tell you how you can pay the excess. You may need to pay the excess in one of the following ways:
- You may have to pay the excess directly to RACT.
- You may have to pay the excess directly to a repairer or supplier.
- You may have the excess deducted from the claim amount paid to you.
When both your home and contents suffer loss or damage due to the same insured event, you will only need to pay one excess. It’s also worth pointing out that when you apply for cover, you have the option to select a higher excess in return for a lower premium.
Who is eligible for cover?
RACT home insurance is available to all owners of Australian residential properties. There are no other special eligibility criteria that apply, but you should always compare a range of policies before deciding which one is right for you.
How can I claim?
If you need to make a claim on your policy, it’s essential that you notify RACT of your claim as soon as possible. You can make most claims over the phone, but you may be required to complete a claim form in some cases.
You may also need to provide proof of ownership or evidence of the extent of the loss or damage suffered. You must also supply any other information that RACT requires to process your claim, such as the details of anyone else involved in the incident or the police incident report number (if applicable).
Some final questions you might have
Is there a cooling-off period?
Yes. There is a 21-day cooling-off period, which allows you to cancel your policy within the first 21 days and receive a 100% refund of any premium paid.
Can I pay my premium in instalments?
Yes. If you do not wish to pay your premium as an annual lump sum, you can pay your premium in half-yearly, quarterly or monthly instalments.
Does it cost extra if I pay by instalments?
Yes. You may need to pay an administration fee if you choose the instalment payment option. The following surcharges apply:
- Half-yearly instalments. 2.5% surcharge
- Quarterly instalments. 4% surcharge
- Monthly instalments. 9% surcharge
Are there any optional covers available?
Yes. You can add the following options to your policy by paying an extra premium:
- Storm damage to gates and fences
- Damage to electric motors
- Domestic Workers’ Compensation
- Personal effects
- Accidental damage
Will RACT cover my temporary accommodation costs if I’m unable to live in my home while it’s being repaired?
Yes. RACT home insurance covers temporary housing costs, up to 10% of the sum insured, while your home is being repaired.
Does RACT home and contents insurance provide flood cover?
Yes. Flood cover is included as standard in all RACT policies.