Sum insured policy with 25% building safety net. Provided by IAG. Available in all states & territories
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Description
Cover summary
- Nominate a sum insured for your building
- 25% underinsurance safety net
- Up to $20 million
- Cover for people named on the policy, plus their family members living with them
- Cover for incidents in Australia
Cost
Covered events
- Covers loss and damage due to theft and attempted theft
- Covers costs to repair or replace and recode keys, locks, barrels, fobs and keypads, after loss or theft of keys or access codes to external doors or window locks (no excess)
- No cover for theft by you, your family or residents
- No cover for theft by people who enter site with consent of you, your family or a resident
- Covers fire and bushfire
- No cover for scorching or melting where there is no flame
- No cover for fire started with the intention to cause damage by due to the insured, residents or people at the property with the consent of residents or the insured
- 72 hour waiting period for bushfire and grassfire
- Covers damage caused by flood and rainwater run-off
- Covers damage caused by landslide and subsidence but must occur as a direct result and within 72 hours of flood or rainwater run-off
- Covers swimming pool or spa covers up to five years old
- No cover for damage caused by erosion, deterioration, collapse, shrinkage or any other earth movement
- No cover for bridges or gravel driveways
- No cover for retaining walls
- No cover for gates, fences or free-standing walls if damage is caused because they are not structurally sound or well-maintained
- No cover for pontoons or jetties
- No cover for pool or spa solar covers or liners
- 72 hour waiting period for rainwater run-off
- 14 day waiting period for flood
- Covered
- Covers damage caused by landslide and subsidence but must occur as a direct result and within 72 hours of storm
- Covers swimming pool or spa covers up to five years old
- No cover for damage caused by erosion, deterioration, collapse, shrinkage or any other earth movement
- No cover for bridges or gravel driveways
- No cover for retaining walls
- No cover for gates, fences or free-standing walls if damage is caused because they are not structurally sound or well-maintained
- No cover for pontoons or jetties
- No cover for pool or spa solar covers or liners
- Waiting period length not disclosed in PDS
- Covered
- Covers damage caused by landslide and subsidence but must occur as a direct result and within 72 hours of storm surge
- Covers swimming pool or spa covers up to five years old
- No cover for damage caused by erosion, deterioration, collapse, shrinkage or any other earth movement
- No cover for bridges or gravel driveways
- No cover for retaining walls
- No cover for gates, fences or free-standing walls if damage is caused because they are not structurally sound or well-maintained
- No cover for pontoons or jetties
- No cover for pool or spa solar covers or liners
- Covers damage caused by animals not kept at the site
- No cover for damage caused by bats, insects, mice, possums, rats, termites, vermin or animals allowed at the site by a resident
- No cover for damage caused by birds biting, pecking or scratching
- Covered by default
- Covers accidental loss and damage to home and contents
- No cover for electronic malfunction or failure, mechanical malfunction or failure, virus or processing error resulting in loss of electronic equipment or data
- No cover for fishing or sporting equipment, musical instruments or firearms while someone is using them
- No cover for retaining walls
- No cover for damage caused by water entering home through an opening made for the purpose of alterations, additions, renovations or repairs; animals kept at site; or any process of cleaning involving the use of chemicals
Claims
- Repair damaged property
- Replace damaged property
- Pay you the property's replacement value, up to your sum insured or other sublimits
- Customer cost
- Insurer may offer non-cash alternatives
Building
- Reasonable cost
- Paid on top of sum insured
- Up to 10% sum insured overall
- Paid on top of sum insured
- Up to 24 months or 20% building sum insured
- Paid on top of sum insured
- Covers temporary accommodation for your family and pets, additional living expenses, and removal/storage costs
- Available after a claim for building damage
Contents
- Covers some items for theft and accidental loss/damage
- Nominate a limit per item group for clothing and luggage, jewellery and watches, medical items, mobility scooters, portable electronic devices, and sporting and recreational items
- Up to $10000 per item
- Covered anywhere in Australia, New Zealand, and for up to $10000 overall in rest of the world
- $250 excess
- Optional
- Cover for theft and accidental loss/damage
- Covered anywhere in Australia, New Zealand, and for up to $10000 overall in rest of the world (limit includes all portable contents)
- $250 excess
- Up to 24 months
- Covers storage of contents
- Up to $2000 overall
- Cover for motor burnout and interruption to electricity supply caused by insured event
- Up to contents sum insured overall
- Cover for fire, storm, flood, cyclone, tsunami, lightning, explosion, earthquake, storm surge, collision of removal vehicle and theft following violent or forced entry
- Up to $10000 for accidental damage
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