INSURING YOUR HOME
COVID-19: Ways to save on home insurance
In these uncertain times, we’re all looking for ways to save. For many of us, it’s often the fixed costs that inflate our spending. But some of these fixed costs – like home insurance – can be trimmed too.
Boost your home security
Lowering your risk rating can do the same for your premium. Consider installing deadlocks, alarms or security systems. You may enjoy savings on your policy while sleeping a little more peacefully.
Know the discounts
Here at GIO, we like to reward our customers. If you hold three or more eligible policies with us, you’ll enjoy a 10% discount on your premiums. And because the best things come in pairs, you’ll also get 15% off any combined Home and Contents purchase.
Meet Jim and Kate. With a growing family, they decided to move house and are now looking for the best deal on their home insurance...
but it’s all so confusing!
Here are our top tips that every home insurance customer should know!
Valuing your contents correctly is important: if they’re overvalued, you’ll pay more than you need for your home insurance premium.
If they’re undervalued, you could be caught short if you need to make a claim. Imagine trying to replace your furniture with only half the money that it’s worth!
To get an accurate idea of the value of your contents, jot down your assets and keep digital records of receipts where possible.
With GIO Home Insurance, you can choose to adjust your excess which then impacts your premium: pay a higher excess when you claim and a lower premium, or a lower excess when you claim and a higher premium. It’s up to you!
While home insurance can provide coverage in an insured event, prevention is always better than cure.
Keep your house safe and secure by checking your fire alarm regularly, locking windows and doors when you’re out, and consider installing a security alarm. It won’t just help to deter burglars, but, in some situations, could also save you money on your insurance premium… win-win!
Did you know, if you hold three or more eligible policies with us, you’ll enjoy a 10% discount on your premiums? Eligibility criteria and exclusions apply.
Head to our 'Ways to save' page to find out what other discounts and benefits you might be eligible for!
There’s no guarantee that everything will be covered. You might find the additional coverage provided by our ‘Safety Net Home Protection^’ useful. It provides a financial buffer if the cost of repairing or rebuilding is more than what you’re insured for, for example, if your home needs to be rebuilt or repaired because of a fire.
While it might be tempting to go for the cheapest option, it’s important to compare all levels of cover, and make sure you’re across any terms, exclusions and limitations in your policy.
When it comes to home and contents insurance, it’s good to know you’re covered with GIO.
Head to gio.com.au for more info on Home and Contents Insurance.
Save 10% online
Score another 10% off your first year of GIO Home and Contents Insurance by purchasing a new policy online. Remember, small discounts can really add up throughout the life of your policy.
Seniors Card discount
If you’re a Seniors Card holder, you’re also eligible for a 6% discount on a GIO Home Insurance policy.
Under-insurance is a major problem in Australia. To avoid unnecessary out-of-pocket costs in the event of a claim, make sure you’re adequately covered. According to best practice, 90% of your rebuilding costs should be covered by your insurance policy. Yes, this may mean spending more on premiums right now, but you’re less likely to have to pay more if and when you make a claim.
GIO understands that building prices can unexpectedly surge—and we’ve designed our Building Insurance with that in mind. Our Classic, Extras and Platinum cover includes a financial buffer of up to an extra 30% of your sum insured. Read about our Safety Net Home Protection to learn more.
GIO’s Building Insurance also features $20 million of legal liability cover, plus temporary accommodation if you can’t live in your home following an insured event. And if you opt for Classic Cover, you’ll get the freedom to tailor your policy and add optional covers like accidental damage or portable values.
Opt for a higher excess
If you have sufficient savings, this one may be for you. Choosing a higher excess will lower your premium. This means you’ll be saving even more money on your policy year to year. Just be prepared to pay the higher excess in the event of a claim.
- How much should I insure my house for?
- How to insure valuable items you find in the attic
- Home insurance tips for the new year
Insurance issued by AAI Limited ABN 48 005 297 807 trading as GIO. Consider the Product Disclosure Statement before buying this insurance. This advice has been prepared without taking into account your particular objectives, financial situations or needs, so you should consider whether it is appropriate for you before acting on it.