INSURING YOUR HOME
Tips on getting the most from your home and contents insurance
Your home and contents insurance is a little like your roof. You might not think about it all that often, but it keeps you, your belongings and your family safe when that rainy day arrives. The last time you took out the ladder and looked, your home and contents insurance probably seemed fine. But how many years ago was that? Five? Ten? Everything in life changes, and you might not have up to date coverage now.
In other words, unless you check, you won’t notice any holes in your policy until a pipe bursts in your laundry and ruins your new washing machine. It’s important to review your policy annually to make sure you still have adequate cover. Here are some handy tips on how to make your home and contents insurance leak-proof, shiny and perfect for all your needs.
Make sure your policy covers your lifestyle
Our lives are always changing and it’s important your home and contents insurance reflects that. If you’ve made renovations or extensions to your home, they may not be covered under your existing policy. You don’t want a nasty surprise if something goes wrong, so make sure to check your policy cover and limits and update where necessary.
Changes to your lifestyle can also make a difference to your home and contents insurance. For instance, if you’ve gotten engaged or received an old family heirloom, it’s worth checking whether it’s covered under your policy, because some policies have limits on items like jewellery.
Keep track of your assets
Your assets change. You pick up new things and get rid of others. Some assets lose value while others appreciate. Because this tends to happen gradually, you might not notice how much things have changed over the last few years. It’s important to evaluate your assets so you can make sure your home and contents insurance policy covers everything you own.
Maintaining an inventory of your assets makes it a lot easier to keep track of where you stand. Odds are it won’t take as long as you think, and you’ll feel a real difference to your peace of mind.
Value new items
Not sure how much that inherited stamp collection is worth? You don’t need to know down to the cent, but it can be helpful to have a general idea of how much your assets are worth. For most of the things in your house, you can get a solid estimate using our handy home building calculator, and home contents calculator.
Review your policy
Make sure you review your policy annually to avoid being under-insured. GIO can help you keep that roof over your head. We’re one of Australia’s most trusted insurance providers, and have a range of options tailored to a variety of needs.
To find out more, call our friendly team today on 13 10 10 or get a GIO Home and Contents Insurance quote online and don’t just think you’re covered, know with GIO.
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.