Explore Home & Contents Insurance

‘Building insurance’ refers to insurance cover for the physical structure of your home. It can form part of many types of policies like home insurance, landlord insurance and strata insurance. Each type of building insurance is intended to insure the buildings on a property against a variety of scenarios and events (known as insured events).

Home insuranceStrata insuranceLandlords insurance
Home insurance (also known as home building insurance) is cover for your home but not its contents. It can cover the bricks and mortar of your house as well as driveways and fixed outbuildings like garages, carports, in-ground pools and fencing.Strata insurance covers shared property in domestic buildings (like apartments and townhouses) and commercial buildings (like offices). This means that damage sustained to communal areas such as driveways and stairwells may be covered in most circumstances.Landlords Insurance includes all the benefits of home insurance, but for your rented-out investment property. Policies may include cover for flood, storms, fire and theft as well as cover specifically applicable to a tenanted property, such as loss of rent.

When comparing a landlord insurance policy or home insurance policy with our comparison service, you’ll be able to see the listed events covered by each available policy.

What do the different types of building insurance cover?

In all its forms, building insurance provides financial protection against loss and damage from insured events up to a specified limit. However, there are some exclusions across the different types of building insurance products, depending on your level of cover.

The table below can give you an idea of the typical benefits of the different types of building insurance.

Event/DamageHome Building InsuranceLandlords InsuranceStrata Insurance
Fire damage
Impacted walls and fixtures
Flood damage✔/Optional✔/Optional
In-ground swimming pools
Damage to fences
Fixed carpets and curtains
Malicious damage
Vandalism and damage from theft
Damage from burst pipes and escape of liquid
Damaged caused by removalists or renovations
Legal liability cover if someone is injured in your home
Damage from falling trees
Removal of debris
Temporary accommodation costs

These benefits can vary between insurers and are subject to the policy’s terms and conditions. For full details, please check the relevant Product Disclosure Statement (PDS) and Target Market Determination (TMD) before purchasing any new policy or making an insurance claim.

How to insure your contents

Contents insurance is cover for the belongings in your home. If you’re a landlord and rent out your property furnished, you may want to think about adding this cover. Home owner-occupiers could also benefit from contents insurance. There are policies available that combine contents insurance with your building cover.

It’s best to refer to your policy’s PDS for a full list of exactly what you’re covered for.

Frequently asked questions

Why should I get building insurance?

The most compelling reason to have building insurance is to ensure you can financially recover from accidental loss or damage caused to your home by a variety of events, such as bushfires, fire, storms and flood.

Our free home insurance comparison tool makes it easy to see what’s covered under a home or landlords insurance policy and to find a competitive price from available policies.

Do I need building insurance for a strata unit?

If you live within a strata complex (such as a townhouse or studio apartment), check with your body corporate to see if your building is already covered under the strata policy. If you own the strata property, you should consider protecting it with building insurance; being insured can give you peace of mind knowing that you have cover for a range of natural disasters and damage from other events, including break-ins.

What does ‘sum insured’ mean?

Sum insured is the replacement value of your insured property should it be completely damaged or destroyed. This should be the estimated amount it would cost you to rebuild your home to its former condition, not the market value of your home. It’s vital to ensure that this amount covers the full rebuilding costs of your home; otherwise, you’ll need to pay the extra cost out of your own pocket (known as underinsurance).

What optional extras can I get through building insurance?

Many insurers offer a suite of optional extras to choose from – this is cover that you can add to your standard building insurance policy for broader coverage. These options can vary between insurers, but some common optional extras can include:

  • Accidental damage cover. Usually available through both home and contents insurance policies, this option can cover accidental damages and breakages that happen around the home, like holes in walls or wine spills on carpets.
  • Motor burnout insurance. Should the electric motor on your fixed appliances (like an air conditioning unit) burn out, having this optional extra can help cover the repair or replacement costs. This option is usually available through both building and contents cover.
  • Flood cover. Insurance for flood damage can either be automatically included in standard home insurance or available as an optional extra.
  • Rent default. If you add this optional cover to your landlord insurance policy, you may be covered for your tenants defaulting on their rent.

How much does each type of building insurance cost?

The price of building insurance is unique to each home and property, determined by several factors, including:

  • The property’s value
  • Any security measures you have in place
  • Construction materials
  • Your proximity to disaster-prone areas
  • The insured address (for risk factors like suburb crime rates).

Need to insure your building?

Whether you need home, landlord or another insurance entirely, you can use our home insurance comparison tool to browse and compare a range of products. You can weigh up their features, prices and more all in one place!

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