Home and Contents Insurance

Your home building and contents can be covered for flood-related damage if you take out optional Flood cover, subject to eligibility. Your home building and contents, under Flood cover, will be covered for²:

Loss or damage caused by:

• Flood
• Flood water, combined with run-off and rainwater

As well as loss or damage caused by or arising from the following, if it’s caused directly by and occurs within 72 hours of a flood:

• Soil movement, including erosion
• Landslide
• Mudslide
• Subsidence

To find out if you’re eligible for Flood cover, get an online quote or call us on 13 1000.

If you currently hold a policy and would like to find out whether your Building and Contents insurance policy currently has Flood cover, you can log onto My Allianz to check your policy documentation or call us on 13 1000.

You should tell us as soon as reasonably possible if during the period of insurance your building is in the course of construction or there are any alterations, additions, demolition, repairs to, or decorations of the building costing more than $75,000. If you don’t, we may refuse or reduce a claim under the policy to the extent we are prejudiced by the delay or the non-disclosure.

When we receive this information, we may:

• Propose changes to the terms and conditions of your policy
• Propose to charge you a higher premium
• Cancel your policy (if there’s a change and we can’t reach an agreement with you on altered terms and conditions or premium; or we’re no longer prepared to insure you because there has been a material change to the risk)
• Decide not to offer to renew your policy

Note: It’s also important that you increase your sum insured to take into account any extensions or renovations to make sure you’re adequately covered in the event of a Home Insurance claim.

The cost of your insurance is called a ‘premium’. Your premium will depend on a number of factors, and can change each year when you renew your policy. Your policy schedule will show the premium for each period of insurance.

Several factors determine your Allianz Home and Contents Insurance premium, including:

• Your risk profile. We work this out using a number of factors, such as:
  • Where you live
  • The type of property you’re insuring
  • The amount and type of cover you require
  • Any other people also insured under the policy
  • The relevant claims history of the people being insured
  • The chances of someone making a claim on your policy
• Any discounts that may apply
• Any compulsory government charges such as Stamp Duty and GST
• Emergency Services Levies that apply to your State or Territory
• Any other charges we tell you of
• The excess you choose⁹

To find out the cost of insuring your home building and/or contents through Allianz, get a quote in minutes.

You must tell us as soon as reasonably possible if, during the period of insurance:

• You start using any part of your home buildings for business, trade or professional purposes – except for a home office.
• You remove or stop using any security devices that were specifically required by us.
• You undertake any alterations, additions, demolition, repairs to, or decorations of your buildings costing more than $75,000.
• You commence renting out to your home to tenants.
• Your home building hasn’t been lived in, or won’t be lived in, for more than 60 consecutive days.

If you don’t provide this information as soon as reasonably possible, we may refuse or reduce a claim.

If you take both Building and Contents insurance, here’s how these covers can work together if you suffer an insured loss:

• Your house burns down. You could lose your building, and everything in it. With adequate sums insured under Building and Contents covers, you could rebuild and replace your insured belongings.
• A thief smashes your window, breaks the locks and steals your belongings. You can fix the window and locks through your Building insurance and replace the items that were stolen under your Contents insurance.

Plus, you’ll only have to pay one excess if your building and contents are damaged by the same insured event and you’ve combined them on one policy.

Accidental Damage cover insures you in the event of accidental unexpected mishaps that are caused unintentionally, for example if you’re moving furniture around the house and damage your wall (if you have Buildings cover) or if you have spilt a drink which causes damage to your carpet (if you have Contents cover).

Here are some examples of the sort of mishaps you’ll be covered for if you take out optional Accidental Damage cover:

If you have Building cover and:

• You accidentally smash a hole in the wall when you move some furniture
• Your kids draw all over your walls

If you have Contents cover and:

• You spill red wine on the new white carpet or lounge

We’ll extend cover for your contents anywhere in Australia for up to 90 continuous days in one period of insurance.

Accidental Damage cover includes Motor Burnout. Read the PDS for the details of what’s covered.

Portable Contents cover allows you to insure items which you wear or carry with you outside your home (such as a handbag, wallet, sunglasses, jewellery or a musical instrument). You can choose from two types of Portable Contents cover – unlisted or listed – or you can choose both.

Unlisted Portable Contents
This option allows you to select a per item limit and per claim limit, e.g. up to $2,000 per item and $7,500 per claim. This means you don't have to specifically list your portable item. However, this option doesn't cover items such as laptops, tablets, mobile phones and other wearable technology which need to be covered under Listed Portable Contents.

Listed Portable Contents
This option allows you to cover specifically listed portable items for their full replacement value (less any contributable excess). Laptops, tablets, mobile phones and other wearable technology can be listed under your policy and covered as listed portable items.