Home and Contents Insurance – Focus on Contents
Here are some of the lesser known items that are included under a home insurance policy depending on the level of cover.
As always, different policies offer different cover. Some of the lesser known items that may be covered in a COTA Insurance contents policy include:
- Vet Costs – If you have a cat or dog that is injured in a road accident, you can be covered for veterinary expenses of up to a maximum of $500. Applicable when you have contents cover.
- If your house keys are stolen, you may be covered up to the limit set out in the policy to replace the locks or cylinders of external doors or windows to which the stolen keys belonged.
- Legal liability – people often assume that cover is limited within the home. However, under certain conditions, you may be covered for up to $20m for your legal liability for death, bodily injury or loss or damage to property which is caused by an accident occurring anywhere in Australia (and elsewhere in the world if you normally reside in Australia).
Some contents items have a maximum limit on how much they are covered for, such as jewellery, art or collectables. You will need to list these items separately on your policy – and specify a replacement value if the value is above the standard limit.
As always, you should consider the Product Disclosure Statement which sets out the standard terms, conditions, limits and exclusions before purchasing cover.
Insurance and Membership Services Limited ABN 59 057 159 743, AR No 246235 trading as COTA Insurance arranges this insurance as agent for the insurer Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL No. 234708. We do not provide any advice based on any consideration of your objectives, financial situation or needs. Terms, conditions, limits and exclusions apply. Before making a decision, please consider the relevant Product Disclosure Statement available from www.cota.com.au. If you purchase this insurance, we will receive a commission that is a percentage of the premium, paid for each policy ranging from 0.3% to 30%. Allianz also pays us a percentage of the profit which exceeds the agreed profit threshold for Home (excluding flood), Landlord (excluding flood), Motor and Caravan and Trailer policies arranged by us or renewed with Allianz in each calendar year, provided that the agreed premium threshold is met for these products. Additionally, we receive a marketing allowance from Allianz every 2 months, which is a percentage of the total premium earned on these policies in the previous 2 months. Ask us for more details before we provide you with services.