Is your home protected? Home insurance is a safety net when the unexpected happens. Choosing the right policy isn’t just about price – it’s about knowing what’s covered and finding the best deal.

Understanding Home Insurance: The Basics

• The Building: Covers the physical structure (walls, roof, plumbing, etc.) plus built-in fixtures.
• Liability: Helps with legal costs if someone’s injured on your property.
• Apartments/Units: Check your strata rules – the building itself might already be insured.
• Your Stuff (Contents): Covers furniture, electronics, clothes, etc. Combine this with building insurance for full protection. Renters, this is your main focus!

Choosing the Right Home Insurance Policy

• Rebuild vs. Replace:
  • Sum-insured: An estimate of rebuilding costs. Risk of underinsurance.
  • Total Replacement: Fully restores your home. More expensive, but less worry.
• Calculate Accurately: Use insurer calculators, especially those with “elemental estimating” for the most precise rebuild figure.
• Exclusions Matter: Know what ISN’T covered (flood, etc.) to avoid surprises.
• Excess = Savings: Higher excess can mean lower monthly premiums.

Smart Home Insurance Comparison

• Get Multiple Quotes: Don’t just go with the first one!
• Look Beyond Price: Compare excess amounts, exclusions, liability coverage, and extra features.