It's good for the benefits. You can score discounted attraction tickets, special prices on local travel and Woolworths WISH gift cards as an RACV member.
Flood cover comes standard on all policies, which is a positive because many other brands will charge extra for it. You can also choose to remove this cover for a lower premium.
It doesn't do much in the way of sign-up offers or discounts which we have come to expect from insurers such as Budget Direct, St.George and Westpac.
Sorry! We currently don't have this brand on our panel. But don't fret, you can head to the RACV home insurance website or compare a bunch of other home insurance companies with Finder.
RACV home insurance provides protection to your home for a wide range of events. You can take out cover for buildings only, contents only or combine the 2 policies together to create a package that provides complete peace of mind. RACV also offers landlord insurance and renters insurance.
If you do take out a policy with RACV, you'll also become a member and receive savings and discounts.
Some main events covered by RACV home insurance include:
RACV home insurance is issued by Insurance Manufacturers of Australia Pty Ltd and offers customers a choice of excess and a cooling-off period of 21 days.
Here's the rundown of an RACV home insurance policy
These are some of the standard features that you can claim on if an insured event causes damage or loss.
Building materials and rebuilding fees
Credit card theft
Demolishing and removing debris
Food spoilage
Keys and locks
Mortgagee discharge costs
Moving into your new home
Temporary accommodation
Optional add-ons
If you think you'll need a little extra protection over and above the standard features, you can boost your cover by adding on these optional extras to your policy. However, these do cost extra so make sure to review RACV's Product Disclosure Statement (PDS) for a full list of what's covered.
Accidental damage
Burn out of electric motors – fusion
Portable items cover
Valuable items cover
Exclusions
There are certain situations when RACV won't provide cover under your policy. These are referred to as general exclusions and they apply to all the benefits under your policy. Here are a few to be aware of:
Actions of the sea including high tides or king tides
Corrosion, depreciation, gradual deterioration, rust or wear and tear
Plants, trees or shrubs growing in the ground of your property
Loose or unset gemstones
Mould (unless arising from a listed event)
Tree lopping or felling on your site
Vermin or insects – such as termite damage
War, hostilities or rebellion
Make sure you read RACV's PDS for a more detailed breakdown of exclusions. You can also head to general exclusions for more information.
Here's some information on RACV home insurance complaints
We looked at home insurance complaint data from the Australian Financial Complaints Authority (AFCA) between July 2020 and June 2021. The data breaks down different underwriters and compares their business size to the number of complaints processed.
When comparing insurers, keep in mind that insurers with a larger market share serve more customers, so can potentially get more complaints.
Here's an overview of how RACV (Insurance Manufacturers of Australia) did:
Insurance Manufacturers of Australia is considered a very large firm which means it's normal to see a relatively large number of complaints. This is the same case with Insurance Australia Limited and AAI Limited, but you can see that Insurance Manufacturers of Australia has a much lower volume of complaints comparatively.
While it didn't receive many complaints, only 42.55% were resolved directly with customers.
This is the bottom line about RACV
RACV home insurance offers a solid policy that includes cover for flood, up to 12 months temporary accommodation and new for old replacement – not benefits you see with every provider. What it lacks in policy discounts, it makes up for with its member rewards program.
Still making up your mind? You can check out other home insurance brands and compare them side-by-side so that you end up with a policy you're happy with.
Frequently asked questions
There are 2 ways to lodge a claim on your RACV home insurance policy: online via the RACV website or over the phone at 13 19 03.
Before you start, try to have the following prepared:
Your full name and address
Your policy number
The time of the incident
A description of what happened
Yes, RACV home insurance includes flood cover as standard.
Yes, your phone will be covered for any of the listed insured events while at home. You can also add accidental damage cover, to protect you for things like cracking your screen after dropping your phone when you're at home.
If you want your phone to be covered for damage or theft while you're away from home, it can be added to your policy as a portable item.
Yes, a 21-day cooling-off period applies. You will receive a full refund of your premium if you decide to cancel your policy within the first 21 days of cover.
Yes, you automatically become a member of RACV when you purchase RACV home insurance.
Finalist for Home Insurance - VIC Customer Satisfaction 2023
Leave an RACV home insurance review
If you've held, or currently hold, an RACV home insurance policy, we'd love to hear from you. Your reviews help other Australians decide if RACV is right for them. Some reviews are from a survey commissioned by Finder.
Cristal Dyer is a travel writer at Finder. She has been writing about travel for over five years and has visited over 40 countries around the world. Cristal currently travels full-time, writing about her favourite cities and food finds, and she is always on the lookout for amazing flight deals to share. See full bio
A home insurance calculator can give you a rough estimate on the value of your home and contents. But is that what you really want? Find out how to not underinsure or overinsure your home.
RACV Home Contents Policy. I read in the PDS that there exists within the policy basic valuables up to $2500 and basic portables up to $10000. Anything in excess of these amounts may be insured for an optional additional premium. Could you please clarify for me ?
Finder
JamesAugust 30, 2021Finder
Hi Megan,
That’s correct. RACV offers separate optional cover for some items under ‘Valuable Items Cover’ and ‘Portable Items Cover’ if you want to insure them for more than $10,000 for Portable Items and $2,500 for Valuable Items inside the home.
If you want to insure any one item for more than the said amounts, you’ll need to list the item and its sum assured. You may be asked by RACV to provide a written valuation for each item.
Please reach out to RACV directly if you want to increase your level of cover for these categories.
I hope this helps,
Cheers,
James
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RACV Home Contents Policy. I read in the PDS that there exists within the policy basic valuables up to $2500 and basic portables up to $10000. Anything in excess of these amounts may be insured for an optional additional premium. Could you please clarify for me ?
Hi Megan,
That’s correct. RACV offers separate optional cover for some items under ‘Valuable Items Cover’ and ‘Portable Items Cover’ if you want to insure them for more than $10,000 for Portable Items and $2,500 for Valuable Items inside the home.
If you want to insure any one item for more than the said amounts, you’ll need to list the item and its sum assured. You may be asked by RACV to provide a written valuation for each item.
Please reach out to RACV directly if you want to increase your level of cover for these categories.
I hope this helps,
Cheers,
James