Question 1

How can I pay for my Home Insurance?

Accepted Answer

There are a number of ways you can pay for your Home Insurance. These are online with your credit/debit card or BPAY (except for Strata Insurance policies), over the counter at your nearest Australian Post Office, through the mail, or by calling us.

Question 2

What happens if my payment is overdue?

Accepted Answer

If you’re behind on your monthly repayments, it’s important that you get up to date as soon as possible. For policies with payments 14 days (or more) overdue, we may refuse to pay a claim. For policies with payments a month (or more) overdue, we may cancel a policy without notice.

It’s always better to contact us if you have any issues meeting payments.

Question 3

My payment didn’t go through – what do I do?

Accepted Answer

If your payment hasn’t gone through, it may be because your credit/debit card details are incorrect. To check them, you’ll need to log into GIO Online Services. From there, you’ll see ‘My policy list’ displayed, from which you can select the policy you want to update/check your details for.

Select ‘Update my policy’, then ‘Change payment Details’. Here you’ll see your current details, and have the option to change them, if necessary.

If this isn’t the reason for your payment failing to go through, please contact us as soon as possible so that we can help you rectify the issue.

Question 4

How do I work out my sum insured?

Accepted Answer

It’s important that you choose the correct sum insured value, so that you will be covered adequately if you ever need to make a claim. It is your responsibility to make sure your home and contents are insured for their full 'new for old' replacement value. That means that if your home is damaged, or your contents are damaged beyond repair or stolen, you will be able to replace or repair your home or contents with new items or new materials regardless of age.

You must make sure your sum insured is accurate not only when you first insure your home and contents, but also each time you renew your policy. It’s also important to review it regularly, being mindful of items purchased recently, and update your sum insured accordingly.

To help you calculate the replacement value of your home and contents, use our Building Calculator and our Contents Calculator.

Question 5

What exactly are 'contents'?

Accepted Answer

Contents are household items that you own or are responsible for and use primarily for domestic purposes. That doesn’t include items permanently attached to your home or insured address (e.g. a unit you own and live in). Your contents can include, but are not limited to:

furniture;
furnishings;
clothing;
home computers and printers;
unfixed electrical goods and appliances not housed in a cabinet;
internal blinds;
drapes and curtains;
carpets and plants in pots; and
medical equipment and aids.

For more information about what is and isn't covered, or about what we consider contents insured in a unit, please read the Home and Contents PDS.

Question 6

How is the cost of Home Insurance (my premium) calculated?

Accepted Answer

Your premium is calculated based on your sum insured (the amount you insure your home and/or contents for) along with many other factors, including:

your circumstances
your home and its contents
the address of the insured home or unit;
the amount you insure your home or contents for (sum insured);
the type of insurance you have chosen (home, contents, or both);
the level of cover you have chosen (Classic, Classic Extras or Platinum);
any optional/additional covers you have chosen;
construction material and other characteristics of the home or unit;
the age of the oldest insured person on your policy;
how the home or unit is occupied; and
the standard excess you choose.

Collectively, these are called premium factors. We use these premium factors to estimate the likelihood of you making a claim. We also consider other factors such as the cost of claims we’ve paid to other customers, claims we expect to pay in the future, changes in taxes, duties or levies, and our cost of doing business.

For more detail, read our Home and Contents Insurance PED guide.

Question 7

What do ‘common contents’ mean when it comes to Strata Insurance?

Accepted Answer

Common contents, which are covered under Strata Insurance, refer to unfixed items that are contained within the common areas of your building. This includes appliances, equipment, furniture, fittings and works of art.

If you’d like some more information about contents in a common area, read the Strata Insurance Product Disclosure Statement (PDS) .

Question 8

What is Safety Net Home Protection?

Accepted Answer

Safety Net Home Protection – included in GIO Classic Extras and Platinum cover – provides a financial buffer if the cost of repairing or rebuilding exceeds your sum insured (i.e. the amount you insured your home for) due to an unexpected building price surge. For example:

if your sum insured is $400,000 and you have a 25% Safety Net, you’ll be covered for an additional $100,000 (or $500,000 in total); or
if your sum insured is $400,000 and you have a 30% Safety Net, you’ll be covered for an additional $120,000 (or $520,000 in total).

Question 9

Does GIO cover short term holiday rentals, like Airbnb?

Accepted Answer

Provided you have a GIO ‘owner occupier’ policy, continue to reside in the home, and no more than 2 bedrooms are being rented under a short term holiday rental or home sharing scheme (like Airbnb, or Stayz), GIO will continue cover. However, there are general cover exclusions you need to be aware of. Please refer to the Home & Contents PDS for details.

If you have a GIO Landlord policy and the entire home or unit is being rented under a short term holiday rental or home sharing scheme (like Airbnb, or Stayz), GIO is unable to continue the policy, and you will need to seek cover elsewhere.

Question 10

Does GIO Home Insurance cover my holiday home?

Accepted Answer

Yes, if you have a holiday home that is only for your personal use and is unoccupied for a majority of the time, you can still insure your property with GIO Home and Contents Insurance. If you make a claim, you will likely need to pay an unoccupied excess.

We will apply the unoccupied excess to each incident covered by your policy (unless the policy states that no excess applies to your claim) if, at the time of the incident, the home or unit has been unoccupied for more than 60 continuous days.

A period of inoccupancy starts when the home or unit becomes unoccupied and comes to an end when you, or someone nominated by you, has occupied the home or unit for at least 2 consecutive nights.

Question 11

Am I covered while my property is being renovated?

Accepted Answer

Our Home and Contents Insurance policies only apply to completed buildings that are being lived in, so we do not cover new buildings during construction. If you are renovating your home or unit, we will not cover any damage or loss that is caused by, arises from or involves those building extensions, alterations or renovations. In particular, we don’t cover:

damage caused by cracking, collapse, subsidence or damage to your home and contents caused fully or partially by the building work;
damage caused by a storm, flood or water entering your home or unit through openings in the walls, roof or other unfinished parts of your home or unit, whether or not they are temporarily covered at the time of the damage;
damage caused by storm or flood to any part that is not fully built;
theft or damage by someone who enters or leaves through an unlockable part of your home or unit;
and malicious damage or vandalism to unfinished parts of your home.

We also don’t cover legal liability caused by or resulting from building, alteration, extension or renovation work, if the total cost of the work is more than $50,000.

Please contact us if you’re commencing building works or renovations at your home, including demolition.

Question 12

Do you cover damage caused by insects, including termites?

Accepted Answer

No, GIO Home and Contents Insurance does not cover loss or damage caused by insects, vermin, or rodents – including termites. If you’d like more information, please refer to the Home and Contents PDS.

Question 13

What happens if an insured item is not at my home when it’s damaged/lost?

Accepted Answer

There are a few reasons your belongings may be damaged or lost while they’re away from home for which we will cover you:

while they’re in transit within Australia, for example, during a relocation to your new permanent address
while they’re in commercial storage
or while they’ve been temporarily removed from your property for up 180 days.

If you’re referring to items that you normally carry with you when you’re away from home – such as your mobile phone, jewellery, camera, bike, or laptop – then these are referred to as ‘Portable Valuables’. Portable Valuables aren’t always automatically covered, but you can add optional cover to your policy for an extra premium.

Question 14

Are my carpets covered?

Accepted Answer

Carpet is covered under GIO Contents Insurance, but not under GIO Home Building Insurance.

Our Contents Insurance policy can cover up to $2,000 per carpet or hand woven rug under Classic Cover, $5,000 under Classic Extras Cover, or up to your general contents sum insured under Platinum Cover. The cover applies if your carpet is damaged due to an insured event, such as fire, flood or vandalism. View the PDS for more information.

Question 15

What’s the difference between Home Insurance and Contents Insurance?

Accepted Answer

The difference is in whether or not structures and items are attached or not attached to the physical building you are insuring. Home Insurance covers your home, garages, carports, outbuildings, gates and fences, along with any permanently attached fixtures like solar panels, walls, ceilings, and floor coverings for loss or damage caused by a range of insured events at your insured address.

Whereas, Contents Insurance covers only for the loss or damage to the contents in your home caused by insured events. ‘Contents’ are household items that you own or are responsible for and use primarily for domestic purposes. These include things like furniture, furnishings, clothing, unfixed electrical goods, and appliances.

Question 16

How do I compare Home and Contents Insurance?

Accepted Answer

Ultimately, the level of cover you choose, and with who, is up to you. Comparing Home and Contents Insurance should be based on what you need cover for, like home, contents, combined home and contents, strata, or landlord insurance. To compare Home and Contents Insurance, you can:

Check what is automatically covered in each policy you’re considering;
Review any optional/additional covers available;
Get a quote for the policy or policies you’re looking at; and
Compare the quote and what it includes against other quotes you may have received.

Question 17

How do I update my policy/cover?

Accepted Answer

GIO customers can easily update their policy/cover by logging into GIO Online Services. From there, you’ll see a list of your policies; simply select the policy you want to update and then choose the ‘Update my policy’ tab.

You’ll see various options to choose from for what you can update.

View a video explanation of how to update your policy online.

Question 18

How do I update my address/contact details?

Accepted Answer

You can update your address/contact details easily by logging into GIO Online Services. From there, you’ll see a list of your policies under the heading ‘My policy list’. Select the policy you want to update your address/contact details for, click on ‘Update my policy’ tab, then edit the relevant field.

View a video explanation of how to update your details online.

Question 19

Can I add contents to my home insurance policy?

Accepted Answer

Yes, you can. To do so, please contact us.

It’s important that you do so as soon as possible, to make sure that your sum insured (the amount you are covered for) is accurate should you need to make a claim.

Question 20

Can I renew my home insurance online?

Accepted Answer

There are several ways to pay for the renewal of your Home Insurance, including conveniently online with your Visa/MasterCard/American Express card, through your online account, and via BPAY. This applies to all Home and Contents Insurance policies (including Home Building Insurance, Contents Insurance, and Landlord Insurance), except Strata Insurance.

You can also pay for your renewal by visiting your nearest Australia Post Office, through the mail, or over the phone.

Question 21

How do I cancel my policy?

Accepted Answer

We're sorry you're thinking of leaving. To discuss your situation further or to cancel your policy, call us on 13 10 10.

If you do cancel, you may qualify for a refund of the unexpired portion of the premium less our $30 cancellation fee and any non-refundable government charges.

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