Choosing the right optional covers for your home insurance

If you’re researching insurance for your home, contents or both, you’ve probably encountered the concept of optional covers. Those are the coverage types you can add to your policy but aren’t automatically included. In effect, they’re a way for you to customise your policy, ensuring that it meets your needs.

Taking time to review which optional covers are available can help you ensure that your policy is best able to help you when you need it most.

Choosing your level of cover

GIO Home Building Insurance and GIO Contents Insurance, as well as combined GIO Home and Contents Insurance, have three different levels available: Classic, Classic Extras, and Platinum.

There are some coverage types, such as Portable Valuables, which are optional covers with Classic but automatically included with Classic Extras and/or Platinum. So, the level that offers you the best value may depend on which covers you need.

Explore Home Insurance options

Portable valuables cover

This covers items that are normally carried with you away from the home. So, for example, it can act as a form of jewellery insurance or mobile phone insurance.

You can learn more about portable valuables cover and figure out whether it’s right for you.

Accidental damage at the home

If you’re worried about broken windows or a cracked TV screen, consider this cover.

It’s available with both Home Building Insurance, in which case it will cover damage to your home itself, or Contents Insurance, in which case it will cover the stuff inside your home. Of course, if this cover is applied to a Home and Contents Insurance policy, both are covered.

Accidental damage at the home is an optional cover with Classic policies, but is automatically included with Classic Extras or Platinum policies.

Motor burnout

This can help you with the cost of repairing or replacing a burned out or fused electric motor in your household equipment or appliances. If you have Home Insurance, this includes built-in appliances that are part of your home, such as ducted heating systems or built-in ovens. If you have Contents Insurance, it includes appliances that would be considered contents, like a fridge or washing machine. If you have a combined policy, it covers both.

This cover only applies to appliances that are equal to or less than 10 years old.

Motor burnout is an optional cover with Classic policies and is automatically included with Classic Extras or Platinum policies.

Safety net home protection

Your insurance policy will specify a sum insured; that’s the maximum amount we’ll pay to replace or repair your home, or your home and its contents, if an insured event occurs. However, in some scenarios, you may find that your sum insured can’t quite cover the full costs. In this case, safety net home protection can help. If you choose this cover, we’ll pay an additional amount to repair or replace your home, or pay you the equivalent amount.

The amount that we’ll pay, and whether this cover is optional or automatically included with your policy, depends on which level of cover you have:

  • With a Classic policy, this cover is optional. If you choose it, we’ll pay up to a further 25% of your sum insured.
  • With a Classic Extras policy, this cover is automatically included. We’ll pay up to a further 25% of your sum insured.
  • With a Platinum policy, this cover is automatically included. We’ll pay up to a further 30% of your sum insured.

Injury to pet dogs and cats

This will offer up to $2,000 cover for necessary veterinary treatment for your pet dog or cat if they’re injured in an accident, as long as they’re shown on your certificate of insurance.

This cover is optional with all three levels of contents-only or home and contents insurance.

Domestic workers compensation

This covers your legal liability to pay workers compensation to your domestic employees, if they’re injured while working for you during the period of insurance.

It’s optional with all three levels of cover, if you’re in ACT or Western Australia.

How to make sure you’re covered

When you’re getting a GIO Home Insurance quote, you can add any or all of the above covers to your quote. This will let you see how much they’ll affect your premiums, allowing you to make an informed decision about which options suit your needs and budget.

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Insurance is issued by AAI Limited ABN 48 005 297 807 trading as Suncorp Insurance. Consider the Product Disclosure Statement before making a decision about 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.