Westpac Home and Contents Insurance Policy Review
Make sure your home is protected with the right cover. With Westpac Home and Contents Insurance you'll get comprehensive cover and an award winning claims service based in Australia. So you can breathe easy knowing there's help when you need it most.
Key benefits of the Westpac Home and Contents Insurance Policy
- Comprehensive cover for storm, flood, lightning, fire, earthquake, explosion, theft, impact, escape of liquid, malicious acts, riot and civil commotion, legal liability up to $20 million. Regardless of what level of Home and Contents Insurance cover you choose, all of these events are covered as standard.
- Extra cover is provided for emergency accommodation in times of need. In addition, if repair or replacement costs turn out to be larger than predicted, a sum insured safety net applies.
- Fast and efficient claims service. LMI Claims Comparison independently gave Westpac’s claims service a rating of five stars in 2013.
- You can take out optional cover for specified valuables at home, anywhere in Australia or around the world for a period of up to 90 days. This can help cover items such as laptops and jewellery when you’re travelling around the world, often to a much higher level than you would find on a typical travel insurance policy.
- Discounts available. Westpac offers customers several options to save money on their Home and Contents Insurance premium. These include a no-claim bonus and discounts when you take out multiple policies with Westpac.
Westpac Home and Contents Insurance Levels of Cover
Essential Care includes cover for theft from inside your home when there is evidence of forced entry. A Safety net applies when repair or replacement costs are higher than expected — up to 10% of the sum insured for the building and up to 5% of the sum insured for contents. Total cover for jewellery and watches of $3,000 is also included (up to $500 per item), while you can also take advantage of $3,000 of cover for artwork.
Quality Care covers you for theft from inside your locked home, plus provides $2,000 of protection against theft in the open air at the site. A Safety net applies when repair or replacement costs are higher than expected — up to 20% of the sum insured for the building and up to 10% of the sum insured for contents. Electrical motor burnout and accidental glass breakage are covered, as are jewellery and watches ($5,000 in total, limit of $1,000 per item) and artwork (up to $10,000).
For the highest level of comprehensive cover available, Premier Care Home and Contents Insurance is the policy for you. It provides cover for theft which occurs inside, outside or away from your home, Australia wide. Once again, a Safety net applies when repair or replacement costs are higher than expected — up to 30% of the sum insured for the building and up to 20% of the sum insured for contents. You can take advantage of $10,000 of cover for jewellery and watches (limit of $2,000 per item), while $20,000 cover for artwork is also included. Other features include cover for electrical motor burnout, accidental glass breakage and accidental loss or damage.
Westpac Home and Contents Insurance General Exclusions
Just like all other insurance policies, Westpac’s Home and Contents Insurance features a list of exclusions. Your claim will not be paid if:
- It is for events or circumstances that are covered by a warranty, guarantee or service contract.
- It relates to defects in design, structure, workmanship or materials.
- You fail to maintain the property or keep it habitable.
- You fail to undertake building work which is required by a relevant authority.
- It is for obtaining permits to replace structures you illegally erected.
- It is for wear and tear or gradual deterioration.
- It is for things like rust, oxidisation or mould.
- It relates to earth or soil movement, such as landslide or erosion.
- It is for settling, expansion or vibration.
- It arises from hydrostatic pressure.
- It is caused by tree roots.
- It relates to vermin, insects or pests.
- The damage or loss is caused by animals or birds biting, chewing or scratching.
- It is for electrical, mechanical or computer breakdown caused by a power surge.
- It is related to deliberate acts by you, or someone acting with your consent, which are designed to cause loss or damage.
- It arises from illegal acts by you or someone acting with your consent.
- Your claim is for the destruction or confiscation of property by any relevant authority.
- It is for malicious acts by a person who is on site with your consent.
- It arises from war, invasion, rebellion or revolution.
- It is related to an act of terrorism.
- It is related to nuclear weapons material or chemical or biological materials.
- It is for loss or damage to common property where the home is a strata, group or community title unit.
What is considered a Home?
Under Westpac Home and Contents Insurance, a home or building means any residential building including structural improvements, fixtures and fittings such as:
- installed dishwashers
- wall-mounted air conditioners
- fixed wall and floor coverings other than carpets
- fixed external blinds
- fixed awnings and screens
- light fittings
- alarm systems
- kitchen and bathroom fixtures
- solar panels
- home offices
- inground swimming pools
- permanently fixed spas
- tennis courts
- water tanks.
Tips to Save on Your Westpac Home and Contents Insurance Policy
- No claim bonus. You’ll receive a discount if you make zero claims for one or more years.
- Multi-cover discounts. You can save money on your premium by taking out cover for your Building plus your Contents.
- Choose a higher excess. You can choose from an excess of $250, $500, $1,000, $2,000 or $5,000 to lower your premium.
- Choose a lower level of cover. If you want to save money, opt for Essential Care instead of Quality Care or Premier Care.
- Invest in home security. To lower the premium for your Contents cover, install items like deadlocks, keyed window locks and security screens. You can also install a burglar alarm.
- Package deal. If you have a Westpac Premier Advantage Package home loan, you could be eligible for a discount on the cost of your insurance.
Making a Claim With Westpac
The first step in making a claim with Westpac is to ensure that the property is safe. You should also take the reasonable steps to prevent any further damage or loss. If you need to contact the police to report theft, malicious damage or break-in, do so at the earliest possible moment.
Once you have done so, contact Westpac by phone and explain to them your situation. The Westpac claims team are contactable 24/7/365.
Westpac need access to the site in order to assess and inspect the damage or loss being claimed. This process needs to be completed prior to any attempts to fix the damage. Westpac may require you to provide supporting documentation, proof of ownership and other evidence as to the value of what you are claiming.
Westpac will then either accept or deny you claim. In some instances the assessors may require more information or investigation before the claim is approved.