The information on this page is for policies starting from 20 July 2025. For customers who started a policy before this date, view the relevant Product Disclosure Statement (PDS).
Optional Rebuild Safety Net cover
Add the rebuild safety net cover to your Home Insurance policy
What is a rebuild safety net?
The rebuild safety net is an optional benefit you can add to your Allianz Home Insurance or Allianz Landlord Insurance policy.
If we accept your claim for loss or damage and the cost is more than your building’s insured amount (your sum insured), we can pay you up to 30% extra. This extra amount can be used for repairs or replacement of your buildings.
Accurately calculating your sum insured can be difficult. If you underestimate your home's insured value or construction costs increase, a rebuild safety net can potentially provide you with additional cover.
How it works:
Say for example a widespread insured event, like a cyclone or flood, causes high demand for building services and materials, which increases your rebuilding costs. If your buildings sum insured is $500,000, we’ll provide up to $150,000 in addition to your buildings sum insured to cover these unexpected costs.
When can I add a rebuild safety net to my cover?
The rebuild safety net optional benefit covers the building portion of your Home or Landlord Insurance. It isn't available with contents only policies.
You can add the rebuild safety net when you buy a new policy, at renewal, or any time during your policy period – so long as you haven’t made a claim. Eligibility criteria applies.
Policies
Why choose our optional rebuild safety net?
Get up to an additional 30% cover
If a claim exceeds your building's sum insured, we can cover up to an extra 30%.
Unexpected building cost hikes
Building and material costs can increase. The safety net gives you a buffer.
A safety net if your home is destroyed
It can be a financial cushion if your home is destroyed by an insured event.
What is underinsurance?
Underinsurance is when your insurance coverage amount doesn’t fully cover the cost of the loss or damage. If you make a claim and you’re underinsured, you’ll have to pay out-of-pocket to cover the difference between the insured amount and the actual cost of repairing or rebuilding your home.
How to avoid underinsuring your home
Use a home insurance calculator
One of the best ways to prevent underinsurance is to use a building insurance calculator and contents insurance calculator. This is especially important if you’ve just extended or renovated.
According to the Insurance Council of Australia, most people find themselves underinsured because they haven’t properly calculated the current replacement value of their property and belongings.
For an accurate replacement value, you should consult an architect, builder, quantity surveyor, valuer, or another suitably qualified professional.
Consider a rebuild safety net
The rebuild safety net isn’t a substitute for properly insuring your home. It’s designed to help cover unexpected building cost increases. Construction cost increases and supply chain issues can be hard to predict. A rebuild safety net may give you a financial buffer if building costs rise unexpectedly and exceed your insurance cover.
Want to know more?
See our helpful ideas and insights for managing your home, contents, and coverage.
Understanding your home insurance premium
Ever wondered why your home insurance premium changes? This guide gives you the facts: how your premium works, how it’s calculated, and why it can change.
How much should I insure my house for?
Insuring your home for the right amount can be difficult. We explain how to work out the cost of rebuilding your home.
Is my granny flat covered by home insurance?
A granny flat may be covered by your home insurance, but there are a few things to consider. Here’s what you need to know.
Frequently asked questions
Allianz Home Building and Landlord Building Insurance policies have a debris removal and additional rebuilding costs benefit.
If your home is damaged by an insured event, we’ll pay to remove debris from the destroyed or damaged parts of your building.
We’ll pay up to 10% of your buildings sum insured for debris removal. Rebuilding fees and building code compliance costs are also paid under the same benefit and limit. This is an extra amount, paid in addition to your sum insured. This amount doesn’t increase with the rebuild safety net optional benefit.
For more information, read the product disclosure statement.
Allianz Home Building and Landlord Building Insurance policies have a debris removal and additional rebuilding costs benefit.
We’ll pay the reasonable and necessary costs of architects’, engineers’, surveyors’ and solicitors’ fees if your home is damaged or destroyed by an insured event.
We can also cover building code compliance costs. The most we’ll pay for any one claim is up to 10% of your buildings sum insured. Removal and disposal of debris, rebuilding fees and building code compliance costs are paid under the same benefit and limit. This is an extra amount, paid in addition to your sum insured. This amount doesn’t increase with the rebuild safety net optional benefit.
For more information, read the product disclosure statement.
No. Your contents aren’t included in the rebuild safety net. The rebuild safety net is designed to provide additional cover for your building, not your contents. If you also have Contents Insurance, make sure calculate the cost of your contents as well as your home’s rebuild costs.
Ready to get started?
Follow us on
Allianz acknowledges Aboriginal and Torres Strait Islander peoples as the Traditional Custodians of the lands on which we live and work across Australia. We pay our respect to First Nations Elders past and present.
Any advice here does not take into account your individual objectives, financial situation or needs. Terms, conditions, limits, and exclusions apply. Before making a decision about this insurance, consider the relevant Product Disclosure Statement (PDS)/Policy Wording and Supplementary PDS (if applicable). Where applicable, the PDS/Policy Wording, Supplementary PDS and Target Market Determination (TMD) for this insurance are available on this website. We do not provide any form of advice if you call us to enquire about or purchase a product.
Allianz Australia Insurance Limited ABN 15 000 122 850 AFS Licence No. 234708 is the insurer of any general insurance products offered, and Allianz Australia Life Insurance Limited ABN 27 076 033 782 AFS Licence No. 296559 is the insurer of any life insurance products offered. Each entity is responsible for any statements and representations made about its products, on this website.