Is it time to choose a Landlords or Home and Contents Insurance policy? Or perhaps you haven’t reviewed yours in a while. Well, it’s time you should, because there are some common – and often costly – mistakes you can make when looking at yours.

Check out this list below to make sure you don’t make these mistakes too.

Assuming everything is covered

According to Angelo Colosimo, QBE National Householders Product Manager, a common misunderstanding with Home and Contents Insurance is around the level of care and maintenance that’s required from the insured. 

“People must take reasonable care to prevent damage or total loss of their home,” he says. “Home insurance covers you for damage or loss that happens as a result of unexpected insured events that aren’t in your control, such as a storm.”

Forgetting to update your insurer

Moving to a new home? Then your insurer needs to know about it too. No, you don’t have to invite them to your house warming party, but you do need to notify them of your change of address. Why? Because this could impact your level of cover and insurance premium.

It’s not just your change of address that you need to notify them of either. Changes in occupancy, planned renovations or repairs and new high value items should be disclosed too.

Misunderstanding policy exclusions

Did you know that only half of Australian homeowners and renters think about exclusions to their insurance policy when choosing their home insurance cover? This is the case according to the Insurance Council of Australia (ICA). 

Why pay for insurance that doesn’t cover what’s most important to you? Don’t assume or risk a misunderstanding. Read the PDS or talk to an insurance broker to ensure you have all the facts first.

Home and Contents Insurance is extremely valuable whether you are a home owner or renter. Make it even more valuable to you by ensuring you know what you want covered and which policy is right for you.

Need a little help? At Grace Insurance in Landsdale, north of Perth, we understand that your home is your castle and are committed to delivering the best cover available. Contact us and protect your castle today.  

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5 Home & Contents Insurance questions answered

So, you’ve recently had an accident in your home. Whether that accident be that your dog tore apart your lounge suite, your fridge is broken down, the bathroom flooded or your child smashed your tv screen, it’s important to check if you’re covered.

We answer 5 questions about Home and Contents Insurance – the answers may surprise you.

Will home insurance cover my broken tv screen?

If you’ve selected the option of Accidental Damage within your contents cover, then yes, you will be covered.

Will home insurance cover our mobile phones?

If your mobile phone is within your home, then it’ll be covered under your Contents policy if it’s been stolen or damaged by a fire.

Want your mobile phone to be covered outside the home? They can also be specified as part of general portable contents for protection when you’re not at home. Is your phone in the car or with you when traveling? Then this comes under your car and travel insurances.

Will home insurance cover roof repair?

This answer isn’t straight forward. Why? Because there are many causes to a damaged roof and the purpose of home insurance is to cover loss or damage due to an unexpected major event like fire or storm. 

If the damage or loss could have been prevented through maintenance of your home, then you may not be covered.

Will home insurance cover termite damage?

Unfortunately, home insurance will not cover damage caused by termites and other pests such as mice or other animals considered to be vermin. 

Why? Because insurance companies think termites are preventable, which means they consider it a maintenance issue.

Will home insurance cover my engagement ring?

Congratulations, you’re engaged! You will be happy to learn that you can add peace of mind to your happiness with contents cover.

The home and contents policies that Grace Insurance manage, offer standard jewellery coverage at $10,000 per item. If you have any jewellery items costing more than this, such as your engagement ring, you can specify these items and opt to increase your required limit of coverage.

Did the answers surprise you? There are many more questions to be answered when it comes to home and contents insurance cover. Contact Grace Insurance in Joondalup, Perth for answers today.

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Ever wondered what the most common and costly claims for home and contents and landlord insurance in Australia are? A recent article from QBE Insurance reveals all.

Riders on the storm

Severe weather and leaky pipes are the biggest headaches for Australian landlords and are the cause of far more insurance claims than tenants failing to pay rent.

Storm and flood claims account for 34 percent of all landlord claims, while water damage from pipe failure make up 21 percent of claims, according to Frank Costigan, QBE Chief Customer Officer, Personal Lines.

Obviously, it’s impossible to avoid storms and severe weather, but landlords can be proactive in staying on top of the general maintenance and upkeep of their property.

Stay on top of home maintenance

So, how do you stay on top of maintenance? There are many things you can do to stay on top of your home maintenance.

Here are a few ways to get you started:

• Clean out your gutters

Gutters manage the flow of rain water away from your home during a downpour or storm. If they’re blocked, the water can pool in the wrong place and even flow back into your house and damage your home both inside and outside, leading to substantial damage.

That’s why ensuring your gutters are free from leaves, sticks and other debris is an important part of your regular maintenance and a vital risk mitigation step.

• Check your roof

Periodically check your roof for damage. Damaged, discoloured, or gravel-less shingles should be quickly replaced to prevent the need to replace your roof, water-damaged trusses, or drywall when you finally discover a leak.

During the inspection of your roof, pay special attention to shingles that surround skylights, vents, and chimneys, as these areas are the most leak-prone.

Ensure your rental property is adequately protected with the right Landlord Insurance. Contact Grace Insurance in Perth for assistance today.

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