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Raiz Item Insurance Review

Raiz Item Insurance is good if you only want cover for certain valuables but you’ll need to pay extra for cover outside your home.

Our Verdict

  • Raiz Item Insurance is good if you don't want to fork out for a home and contents insurance policy but still want some protection for valuable items like your phone, white goods, laptop or bicycle.
  • You can get cover for most items including laptops, desktops, mobiles, gaming consoles, jewellery and bicycles.
  • You can add theft cover and accidental cover for anywhere in Australia. Keep in mind you'll have to pay extra to get these benefits — this is the same among other insurers.
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What does Raiz item insurance cover?

Here are some of the main insured events you'll be covered for by with a Raiz item insurance policy.

Raiz item insurance features

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Standard features

Protection inside your home

Raiz Insure provides cover for specific listed items such as phones, laptops, bicycles and jewellery. It will cover you in relation to loss or damage that occurs inside your home. These events include cover for storm, flood and fire, as well as theft and attempted theft.

Keep in mind that in order for your claim to be accepted, you will need to provide evidence through proof of ownership or the item itself if it is damaged. Also, you can't get cover for any legal liability incurred by you unless your item is a bicycle. Legal liability cover protects you financially if you become liable to pay for personal injury or damage to someone else's property.

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Optional add-ons

Theft cover anywhere in Australia

You can also add "Theft cover anywhere in Australia" when taking out your policy. This will protect you from theft or attempted theft anywhere in Australia.

Accidental damage anywhere in Australia

You can also add Accidental Damage when taking out your policy. This will protect you from accidental damage anywhere in Australia. In insurance terms, accidental damage is defined as loss of or damage caused by an unintentional act or unforeseen and uncontrollable incident.

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Excluded items

There are some items Raiz Item Insurance will not cover. These include:

  • Vehicles, motorcycles, caravans, camper trailers or trailers
  • Motorised golf buggies or carts
  • Ride-on lawnmowers
  • Mobility scooters
  • Defibrillators
  • Tools, e.g. drills and saws
  • Stock used in any business, trade or profession
  • Loose or unset gemstones

Keep in mind, you won't be covered for any loss or damage to your item arising directly from storm, fire or flood for the first 72 hours after taking out your policy.

Here's some information on Raiz item 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 Raiz (Insurance Australia Limited) did:

  • Insurance Australia Limited managed to resolve 40.14% of its complaints directly with customers.
    • It's considered a very large insurer so you should expect a relatively high volume of complaints but Insurance Australia Limited received the second-highest (974) after AAI Limited (1,361).

    Here's the bottom line about Raiz item insurance

    Raiz item insurance is good if you just want cover for specific valuables in your home, like your laptop or TV. However, if you want cover for more items, it might be worth considering contents insurance. If you're still not sure, you can compare other home insurance companies here.

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    FAQs about Raiz item insurance

    Leave a Raiz Insure Item Insurance review

    If you've held or currently hold a Raiz Insure Item Insurance policy, we'd love to hear from you. Your reviews help other Australians decide if St.George is right for them. Some reviews are from a survey commissioned by Finder.

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