Home and Contents Insurance - Supplementary Product Disclosure Statement - Westpac
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Home and Contents
Insurance
Supplementary Product Disclosure Statement
This Supplementary Product Disclosure The purpose of this SPDS is to update
Statement (SPDS) is issued by Westpac those sections of the PDS which deal
General Insurance Limited ABN 99 003 with the issuer and insurer of the PDS
719 319. and to provide information regarding
an upcoming change in the ownership
This SPDS amends the Westpac Home and
of the insurer.
Contents Insurance Product Disclosure
Statement (PDS) with a preparation date
of 3 December 2020 and should be read
in conjunction with that PDS and any other
SPDS that we give you to update the PDS.
Effective date: 1 July 2021
(Preparation date: 16 April 2021)Change in ownership structure Change to privacy notice
Westpac Home and Contents Insurance With effect from 1 July 2021 (or such later
is issued by Westpac General Insurance date advised on westpac.com.au/insurance),
Limited ABN 99 003 719 319, except for Clause 10.3 will be deleted and is amended
Domestic Workers’ Compensation cover as follows:
(where applicable) which is issued by Allianz
Australia Insurance Limited ABN 15 000 122 10.3 Protecting your privacy
850 AFSL 234708 (AAIL). At the Allianz Group, we give priority to
With effect from 1 July 2021 (or such later protecting the privacy of your personal
date advised on westpac.com.au/insurance), information. We do this by handling
Westpac General Insurance Limited will personal information in a responsible
become part of the Allianz Group of manner and in accordance with the
companies, be renamed Allianz Australia Privacy Act 1988 (Cth).
General Insurance Limited, and act as a How we collect your personal information
corporate authorised representative of AAIL.
We usually collect your personal
Therefore, with effect from 1 July 2021 (or information from you or your agents.
such later date advised on westpac.com. We may also collect it from our agents
au/insurance), all references to Westpac and service providers; other insurers
General Insurance Limited are amended to and insurance reference bureaus; people
Allianz Australia General Insurance Limited. who are involved in a claim or assist us
Westpac Banking Corporation ABN 33 007 in investigating or processing claims,
457 141 AFSL 233714 (Bank) will continue to including third parties claiming under
distribute the insurance under a distribution your policy, witnesses and medical
arrangement with Allianz Australia Insurance practitioners; third parties who may be
Limited. arranging insurance cover for a group
that you are a part of; law enforcement,
Contact details remain unchanged. dispute resolution, statutory and
regulatory bodies; marketing lists and
industry databases; and publicly available
sources.
Why we collect your personal information
We collect your personal information
to enable us to provide our products
and services, including to process and
settle claims; make offers of products
and services provided by us, our related
companies, brokers, intermediaries,
business partners and others that we have
an association with that may interest you;
and conduct market or customer research
to determine those products or services
that may suit you. You can choose not
to receive product or service offerings
from us (including product or service
offerings from us on behalf of our brokers,
intermediaries and/or our business
partners) or our related companies
2by calling the Allianz Direct Marketing Access to your personal information and
Privacy Service Line on 1300 360 529, EST complaints
8am to 6pm Monday to Friday, or going
You may ask for access to the personal
to our website’s Privacy section at www.
information we hold about you and seek
allianz.com.au.
correction by calling 1300 360 529 EST
If you do not provide your personal 8am to 6pm, Monday to Friday. Our
information we require, we may not be Privacy Policy contains details about how
able to provide you with our services, you may make a complaint about a breach
including settlement of claims. of the privacy principles contained in the
Privacy Act 1988 (Cth) and how we deal
Who we disclose your personal
with complaints. Our Privacy Policy is
information to
available at www.allianz.com.au.
We may disclose your personal
Telephone call recording
information to others with whom we have
business arrangements for the purposes We may record incoming and/or outgoing
listed in the paragraph above or to enable telephone calls for training or verification
them to offer their products and services purposes. Where we have recorded
to you. These parties may include insurers, a telephone call, we can provide you
intermediaries, reinsurers, insurance with a copy at your request, where it is
reference bureaus, related companies, reasonable to do so.
our advisers, persons involved in claims,
Your consent
external claims data collectors and
verifiers, parties that we have an insurance By providing us with personal information
scheme in place with under which you you and any other person you provide
purchased your policy (such as a financier personal information for, consent to
or motor vehicle manufacturer and/or these uses and disclosures until you tell
dealer). Disclosure may also be made to us otherwise. If you wish to withdraw
government, law enforcement, dispute your consent, including for things such
resolution, statutory or regulatory bodies, as receiving information on products
or as required by law. and offers by us or persons we have an
association with, please contact us.
Disclosure overseas
In all other respects, the PDS remains
Your personal information may be
unaltered.
disclosed to other companies in the
Allianz Group, business partners,
reinsurers and service providers that
may be located in Australia or overseas.
The countries this information may be
disclosed to will vary from time to time,
but may include India, Canada, Germany,
New Zealand, United Kingdom, United
States of America and other countries
where the Allianz Group has a presence
or engages subcontractors. We regularly
review the security of our systems used
for sending personal information overseas.
Any information disclosed may only
be used for the purposes of collection
detailed above and system administration.
3WBCINS100SPDS 0721
Home and Contents Insurance Product Disclosure Statement. Effective date 5 April 2021
Whether you own and live in
your home or are renting, we can
Your duty of disclosure.
offer cover against unexpected What you need to tell us: When you apply
events like storm, flood, fire, for insurance, you have a duty of disclosure
theft and more with different under the Insurance Contracts Act.
options to help suit your needs. We will ask you questions that are relevant
to the decision whether to insure you and on
Like all insurance, there are exclusions
what terms. When answering the questions,
and limitations. For example, this policy isn’t
you must tell us everything that you
designed to cover loss or damage caused
know and that a reasonable person in the
by a failure to maintain your property,
circumstances would include in their answer.
gradual wear and tear, or deterioration.
You have this duty until we agree to
It’s important to read this Product Disclosure
insure you.
Statement (PDS) carefully, to make sure this
insurance is right for you. What happens if you do not tell us
something: If you do not tell us anything
This PDS can help make choosing your cover,
you are required to tell us, we may cancel
understanding your policy, and knowing
your policy or reduce the amount payable
how to claim simpler.
if you make a claim, or both (including
For help in determining your sum insured in relation to any renewed policy). If your
for your Building and/or Contents cover, you failure to tell us is fraudulent, we may refuse
can use the home and contents calculators to pay a claim and treat the policy as if it
at westpac.com.au/homeandcontents never existed (including in relation to any
renewed policy).
ASIC’s MoneySmart website at
moneysmart.gov.au provides further
information about how to choose a Home
and Contents Insurance policy, and how Who is the insurer?
to avoid underinsuring your property.
Westpac Home and Contents Insurance
To arrange cover, get a quote is issued by Westpac General Insurance
or find out more: Limited ABN 99 003 719 319 (‘we’, ‘us’,
‘our’), except for Domestic Workers’
1300 650 255
Compensation cover (where applicable)
westpac.com.au/homeandcontents which is issued by Allianz Australia Insurance
Limited ABN 15 000 122 850. We are not
Visit your local branch a bank or other authorised deposit-taking
institution.
Cover is subject to us accepting your
application. Westpac Banking Corporation
ABN 33 007 457 141 AFSL 233714 (Bank)
distributes the insurance. The insurance
is not a deposit with, or liability of,
the Bank, and the Bank does not
guarantee the insurance.
2Welcome home.
Things you should know. Part 5 on pages 44 to 45 explains how this works
and has a list of all the items that we insure
Your policy will help cover you should an insured under this option.
event occur during your period of insurance.
The insured events are described in section 4.3
When you need to claim.
on pages 19 to 29.
Insurance can’t cover absolutely everything. Should something happen to your home or your
Part 3 on pages 15 to 16 describes the general belongings, we know you’ll want help fast. See
exclusions. part 7 on pages 50 to 54 where we explain how
to make a claim, what you need to do and how
Exclusions and limits that apply to claims in
we will manage your claim.
certain circumstances are explained throughout
this PDS, and items with specific limits are listed If you do claim, you will need to pay a policy
in section 4.5 on pages 42 to 43. excess. You can choose the level of excess
This cover is available only for residential when you take out or vary your policy, which may
properties located in Australia. affect your premium. Please see section 2.5 on
pages 11 to 12 for details about policy excesses.
When does cover start?
Tips to keep your home in great shape.
If we accept your application for insurance,
your cover commences at the start of the period As a homeowner, there are things you can do
of insurance shown in your policy schedule. to keep your home in tip-top shape to prevent
or reduce damage.
Cancellation and the 21 day cooling Keep up maintenance – keep gutters
off period. and rooftops clear of leaves, replace any cracked
or missing roof tiles.
If you’re not satisfied with your policy, you can
cancel it at any time. Repair any defects – address any poor
If you cancel your policy within 21 days of your workmanship and design or structural issues.
policy commencing, you will receive a full refund
Watch for wear and tear – check external
of any premium you’ve paid (as long as you
areas, such as roofs and balconies,
haven’t made a claim). For more information,
for deterioration.
refer to Cancelling your cover on page 14.
Check for water leaks – inspect dishwasher
When does your cover end? and washing machine hoses for cracks
and check wet areas for mould and leaks.
Your cover will expire at the end of the period
of insurance shown in your policy schedule Make sure drains are working – fix any leaking
(usually 12 months), unless cancelled by you pipes and flush gutters and drainpipes to ensure
or us earlier. they’re not blocked.
We’ll send you a renewal invitation before your Look for environmental damage – keep an eye
insurance is due to expire, or tell you in writing out for cracks in walls, driveways and retaining
if we can’t renew your policy for any reason. walls, and fix any sections of ceiling or roof that
are sagging.
Protecting your belongings wherever
you go. We’re here to help.
You can choose to insure your valuable If you have any questions, please call us.
portable items like watches, mobile telephones,
and jewellery for those times when you have
them with you and you’re not home.
3Contents.
Welcome home����������������������������������������������������3 4.4 Additional benefits.��������������������������30
Building additional benefits������������33
1 Choose your cover���������������������������������������6
What do you want to cover?��������������������������6 Benefits paid in addition to
How much cover do you need?���������������������6 your building sum insured��������������33
Do you need additional cover Sum insured safety net.����������������������33
for valuables?�������������������������������������������������6 Demolition and removal of debris�������33
Emergency accommodation��������������33
2 How your policy works��������������������������������8 Benefits paid as part of
2.1 Words with special meanings�����������8 your building sum insured��������������34
Professional fees��������������������������������34
2.2 About your contract.��������������������������8
Building laws and regulations.�����������34
2.3 Your sum insured��������������������������������9 Emergency repairs and protection�����34
2.4 Your premium�����������������������������������10 Fire brigade and services charges�����34
2.5 Your excess���������������������������������������� 11 Gardens and landscaping�������������������35
Purchasing a home.����������������������������35
2.6 Keep proof of ownership.���������������� 12
Mortgage discharge.��������������������������35
2.7 Notify us about any changes.�������� 12 Unsecured renovation materials���������36
2.8 Renewing your cover������������������������ 14 Other benefits������������������������������������36
2.9 Cancelling your cover���������������������� 14 Locks and keys������������������������������������36
Contents additional benefits����������37
3 General exclusions�����������������������������������15
Benefits paid in addition to
4 Home and Contents cover������������������������ 17 your contents sum insured.������������37
Sum insured safety net.����������������������37
4.1 What’s considered a building?������ 17
Removal of debris�������������������������������37
4.2 What’s considered contents?��������18 Emergency accommodation��������������37
4.3 Insured events (Building Emergency accommodation
cover and Contents cover).�������������19 for pets�������������������������������������������������38
Earthquake.����������������������������������������20 Funeral expenses��������������������������������38
Escape of liquid�����������������������������������21 Benefits paid as part of
Explosion���������������������������������������������21 your contents sum insured.������������38
Fire�������������������������������������������������������22 Emergency storage of contents����������38
Flood����������������������������������������������������23 Contents moved permanently
Impact��������������������������������������������������24 to a new property��������������������������������38
Lightning.��������������������������������������������25 Contents in a commercial
Malicious acts and unrest.������������������25 storage facility�������������������������������������39
Storm.��������������������������������������������������26 Fire brigade and services charges�����39
Theft����������������������������������������������������27 Contents in the open air
Accidental breakage of glass�������������27 at the insured site���������������������������������40
Electrical motor burnout����������������������28 Contents temporarily removed
Accidental loss or damage������������������29 to other places in Australia�����������������40
Computer records������������������������������� 41
4Other benefits������������������������������������41
Spoilage of food and medicine ���������� 41
Contents in transit.������������������������������ 41
4.5 Contents with special limits������������42
5 Optional Personal Valuables cover���������44
6 Other cover�������������������������������������������������46
6.1 Legal Liability cover�������������������������46
6.2 Domestic Workers’
Compensation cover.�����������������������49
7 Lodging a claim�������������������������������������������50
7.1 What we will do when
you make a claim������������������������������51
7.2 Evidence of ownership,
value and loss�����������������������������������52
7.3 How we settle your claim�����������������52
8 Making a complaint�����������������������������������55
Delivering on our service promise����������55
Our commitment to you.���������������������������55
If you are still unhappy������������������������������55
Australian Financial
Complaints Authority��������������������������������55
9 Glossary of defined terms������������������������56
10 Other information��������������������������������������59
10.1 The General Insurance
Code of Practice�������������������������������59
10.2 Financial Claims Scheme.���������������59
10.3 Protecting your privacy�������������������59
5Choose your cover | 1
Step 2 How much cover do you need? Essential Care Quality Care Premier Care
1 Choose Compare the differences below to see which
level of cover may suit you.
Basic cover for insured events
plus some additional benefits.
Higher cover for insured
events, with additional
Our highest level of cover, with
more benefits, including cover
your cover. benefits. for accidental loss or damage.
Contents cover extends to also
cover your contents anywhere
in Australia.
This diagram is a summary only. It’s designed
to provide an overview of the steps you A. Insured events Theft ✓ ✓ ✓
can follow to help you choose your cover. If you choose Building Cover provided for building and Cover provided for building and Cover provided for building
It doesn’t include all policy conditions, and/or Contents cover, contents. For Contents cover, contents. For Contents cover, and contents.
limits and exclusions. You’ll need to refer you are covered for loss theft is only covered if the theft is covered if the theft
or damage caused by theft occurs from inside a fully occurs from a fully enclosed
to the relevant sections of the PDS for full details.
these events. Refer to enclosed and lockable building and lockable building, and for
page 19. at the insured site. up to $2,000 in the open air
at the insured site.
Step 1 Storm, flood, ✓ ✓ ✓
fire, lightning, Storm cover excludes
What do you want to cover?
earthquake, damage to gates, fences,
Building impact, explosion and freestanding walls.
For your own home or holiday home.* Escape of liquid ✓ ✓ ✓
Check what’s covered. Refer to page 17. Excludes loss or damage
resulting from liquid escaping
Contents
from a shower recess.
For your contents if you own or rent your
home or have a holiday home.* Check Malicious acts ✓ ✓ ✓
what’s covered. Refer to page 18. and unrest
Accidental ✕ ✓ ✓
breakage of glass
Electrical motor ✕ ✓ ✓
Step 3 burnout
Do you need additional cover Accidental loss ✕ ✕ ✓
for valuables? or damage
Higher limits for artwork, collections B. Additional benefits Building cover – Up to 10% of your sum insured. Up to 20% of your sum insured. Up to 30% of your sum insured.
and collectibles Your cover comes safety net
with these valuable Contents cover – Up to 5% of your sum insured. Up to 10% of your sum insured. Up to 20% of your sum insured.
List specific items with descriptions extras plus more.
and values within your Contents cover. safety net
Full list from page 30
For full details refer to pages 42 to 43. (Building cover) and page Building cover Up to $10,000. Up to 10% of your sum insured Up to 10% of your sum insured
Additional cover for personal valuables 31 (Contents cover). – emergency or the cost of accommodation or the cost of accommodation
anywhere in the world accommodation for up to 12 months in total, for up to 12 months in total,
whichever is less. whichever is less.
Add optional Personal Valuables cover*
for precious items such as jewellery, Contents cover Up to $5,000. Up to 10% of your sum insured Up to 10% of your sum insured
watches, handbags and laptops at home - emergency or the cost of accommodation or the cost of accommodation
or anywhere in Australia or worldwide accommodation for up to 12 months in total, for up to 12 months in total,
for up to 90 days. For full details refer whichever is less. whichever is less.
to pages 44 to 45. C. Contents cover Artwork, Up to $3,000 in total. Up to $10,000 in total. Up to $20,000 in total.
limits – examples collections
Here are some examples and collectibles
of contents that are Jewellery Up to $500 per item/$3,000 Up to $1,000 per item/ Up to $5,000 per item/
covered, but only up to and watches total per claim. $5,000 total per claim. $20,000 total per claim.
* For holiday homes not all cover options are available. a certain amount.
Building and Contents cover is available. Choose from Full list on pages 42 to 43.
Essential Care and Quality Care (but not Premier Care).
Optional Personal Valuables cover is not available.
D. Other cover included Legal Liability Up to $20 million. Up to $20 million. Up to $20 million.
If you have Premier Care and, in the event of a claim, the benefit payable would be greater under Quality Care
6 or Essential Care, then the greater benefit will be paid. Similarly, if you have Quality Care and, in the event 7
of a claim, the benefit payable under Essential Care would be greater, then the greater benefit will be paid.How your policy works | 2
2 How your policy works.
This section tells you how your policy works This PDS has been prepared and issued solely
and what you need to know about managing by us. Although it refers to Domestic Workers’
your policy. Compensation cover, it is not a PDS for that
cover. For more details, see page 49.
2.1 Words with special meanings. You should read this PDS and policy schedule
Certain words have a special meaning in this carefully to ensure you understand and are
PDS and you can read the full list and their happy with your cover. We encourage you
meanings in part 9 Glossary of defined terms to keep them in a safe place so you can refer
on pages 56 to 58. Some important words to them if you need to make a claim.
to know upfront are shown here: Your policy is governed by the laws of the
• You, your or insured means: Australian state or territory of the residential
property stated in the policy schedule. Any part
– any policyholder, of this policy which is, or becomes, unlawful
– the policyholder’s family who normally is invalid to the extent of that unlawfulness.
resides with the policyholder in the home These documents may change.
(excluding guests, visitors and boarders),
Where there is a change to information in this
– in relation to Building cover, any person PDS that is not materially adverse to you, the
who has a legal or equitable interest in the updated information will be available on our
insured property (e.g. a mortgagee), and website or by calling us for a free paper copy.
– in relation to Contents cover for a strata For new or renewing policyholders, any changes
title property, any person who has a legal to information in this PDS will be included
or equitable interest in the insured property in a supplementary or replacement PDS,
(e.g. a mortgagee). which we will give to you.
• We, our or us means the insurer identified If there are changes to your policy, for example,
on the inside front cover. you change your postal address or cover
options, we will send you a revised policy
2.2 About your contract. schedule showing the new details. We may
give you the revised policy schedule and any
Your insurance documents. other policy documentation (including notices
• PDS: This PDS explains our Home and required under the Insurance Contracts Act)
Contents Insurance product. It’s designed in person, by post or by email to the addresses
to help you decide if this insurance is right you’ve provided.
for you and help you choose your cover options. Policies with more than one policyholder.
• Policy schedule: If you purchase this If there is more than one policyholder, each
insurance, you’ll receive a policy schedule policyholder agrees that:
showing your premium, the level of cover
and the sum(s) insured you have chosen, • a request, statement, act, omission, or claim
plus the excesses that apply and other details by any policyholder is made on behalf of all
about your policy. policyholders, and
This PDS and your policy schedule become your • we may give notices, information and
contract with us (only those parts of this PDS documents in relation to your policy to any
relevant to your choices of cover will apply). policyholder, on behalf of all policyholders.
8How your policy works | 2
If you personally give or receive a notice or Each time we offer to renew your policy,
document in relation to the policy, you must tell we will automatically adjust the sum insured
each other policyholder that you have given for your Building cover and/or Contents
or received that notice or document. cover (as applicable) to make an allowance
for inflation and the increased costs
For example, if you tell us that you have
of construction materials, goods and services
changed your address, you must tell each other
(for Building cover) and replacement costs
policyholder that you have changed the address
(for Contents cover). This helps reduce your
for notices under the policy. Or, if we send
risk of being underinsured. This will also result
you a notice cancelling your policy, you must
in an increase to your premium.
tell each other policyholder that the policy has
been cancelled. If you want to adjust your sum insured at any
time, please let us know.
If any other person is covered under your policy,
you agree to make the terms of your policy In some cases, there is a maximum amount
available to them at their reasonable request. payable for certain items and benefits, which
are outlined in detail throughout this PDS.
Special conditions may sometimes apply.
For help in determining the sum insured for your
When we offer to issue, vary or renew your
Building and/or Contents cover, you can use the
policy, we may apply special conditions that
home and contents calculators on our website.
exclude, restrict or extend cover for a particular
insured, matter or insured event. For example, Keep your sum insured up to date.
during a flood or bushfire catastrophe we may
You can apply to change your sum insured
not be able to offer cover for loss or damage
at any time to ensure you remain appropriately
from flood or bushfire for a specified period from
covered. We recommend reviewing your cover
when you purchase or vary your policy.
regularly to take into account things such as:
Your current policy schedule will show any
• upgrades or renovations,
special conditions that apply to your policy.
• changes to building codes, e.g. after
2.3 Your sum insured. a bushfire event,
The ‘sum insured’ is the amount for which each • new purchases and gifts.
of your building, contents, personal valuables
You’ve got a safety net just in case.
and legal liability are covered – they will be
shown in your policy schedule. Your Building cover and Contents cover include
extra protection, in addition to your sum insured,
When you apply for cover you choose the
to help cover unexpected costs to rebuild,
sum insured for your Building and/or Contents
repair or replace your building and contents.
policy and for some listed items of contents and
For example, construction costs often increase
specified personal valuables within your policy.
after a widespread storm, flood or bushfire
We will inform you if your requested sum insured
because the demand for labour and building
is less than our minimum acceptable sum
materials is higher.
insured or greater than our maximum acceptable
sum insured. The safety net is an additional benefit and the
amount of the benefit will depend on whether you
You may also choose from a range of unspecified
choose Essential Care, Quality Care or Premier
personal valuables options (for more information
Care. You can read the details in the Additional
on unspecified personal valuables refer to part 5
benefits section starting on page 30.
on pages 44 to 45).
9How your policy works | 2
2.4 Your premium. Building cover and Contents cover:
How is your premium calculated? • The premium for Essential Care is less than
Quality Care.
Your premium is made up of the amount you pay
for your cover plus any applicable government • The premium for Quality Care is less than
charges and GST, which are shown separately Premier Care.
on your policy schedule. Government charges
• An additional premium is payable if you add
differ in each state and territory and may include
optional Personal Valuables cover.
stamp duty, a Fire Services Levy, and a State
Emergency Service Levy. • The higher the sum insured chosen for an item
or policy, the higher your premium.
The cost of your premium is based on a wide
range of factors, including: • The higher the excess for your policy,
the lower your premium.
• your home’s anticipated exposure to insured
events, such as bushfire, storm, flood Personal Valuables:
and theft, based on factors such as:
• The higher your sum insured for a particular
– your home’s location, item or policy, the higher your premium.
– your home’s construction materials • If you select a combination of specified
e.g. double brick, timber, and unspecified cover, the premium is the sum
of both components.
– your type of home e.g. apartment,
freestanding house, strata title, Based on your sum(s) insured, a minimum
premium may be applied
– when your home was constructed,
Reducing your premium.
– security features, such as an alarm
system, and Discounts may apply to your premium, subject
to maximum discount thresholds, including:
– the oldest policyholder’s date of birth,
• Your Building and Contents cover are
• your level of cover, your sum(s) insured
combined in one policy.
and excesses, and
• You don’t make any claims (no claim discount).
• the expected cost of claims
and business expenses. We may also offer other discounts from
time to time.
In addition, when calculating your premium,
we may take into account how long you have Increases to your premium on renewal.
held your policy and the premiums that you
Each time we offer to renew your policy,
have previously paid, to help ensure that we
we will automatically adjust the sum insured
can minimise any significant premium changes.
for your Building cover and/or Contents
As such, different premium rates may apply
cover (as applicable) to make an allowance
to new policyholders and renewing policyholders.
for increased costs of construction materials,
As these factors change over time, your goods and services (for Building cover)
premiums may increase or decrease. and replacement costs (for Contents cover).
Generally speaking, here’s how your choices This will also result in an increase to your
may affect your premium: premium. If you want to adjust your sums
insured at any time, please let us know.
10How your policy works | 2
No claim discounts. Changes to your premium
You may be eligible to receive a ‘no claim When you ask us to make a change to your
discount’ on your premium. When you initially policy, and we agree, we may need to refund
take out a policy, your ‘no claim discount’ will a portion of your premium or you may need
be based on your previous claims history. to pay us additional premium to reflect
The ‘no claim discount’ then increases by 5% the change in cover.
for each claim free year, up to a maximum If you pay your premium by monthly instalments,
discount of 15%. If we agree to pay a claim, your future monthly instalments will be
any ‘no claim discount’ you have will be reduced automatically updated to reflect any change
at your next renewal date by 5% for each benefit in premium.
paid, for example, a Building benefit and/or
a Contents benefit. If you pay your premium annually, we will send
you a notice for payment if any additional
Paying your premium. premium is owing, or provide you with a refund,
to reflect any change in premium.
You can pay your premium annually or by monthly
instalments – we won’t charge a fee to pay What happens if you don’t pay your premium?
by monthly instalments (however, check with
If you don’t pay your premium, we may cancel
your financial institution to see if charges apply).
your policy. For more details, refer to When can
If you make a change to your policy during we cancel your policy? on page 14.
the year that increases your premium, you may
Payment of amounts of $1 or less.
need to pay an additional pro-rata amount.
If any premium that you owe us or we owe
If you pay by direct debit and we offer to renew
you at any time is $1 or less, we may choose
cover, we will automatically renew your policy
not to refund the difference or not to request
and continue to debit premiums unless you tell
payment of the additional amount. We will donate
us otherwise.
any surplus received by us to a registered charity
All amounts which you or we pay must be of our choosing on an annual basis.
in Australian currency.
Managing monthly payments.
2.5 Your excess.
An excess is an amount you’re required to pay
If you decide to pay by monthly instalments,
if we accept your claim. The excesses that
you’ll need to:
apply to your policy will be shown on your
• make sure your nominated account will accept policy schedule.
direct debits,
Your excess options:
• make sure there are sufficient funds available
• $100 • $1,000
in your account for each payment, and
• $250 • $2,000
• tell us at least three business days before your
• $500 • $5,000
next payment is due, if you want to change
your direct debit arrangements. However, in some instances, we may impose an
If you fail to make a payment and it remains additional excess when you take out or vary your
policy, or when we offer to renew your policy.
outstanding for at least one month, you won’t
be covered and we may cancel your policy. The excesses which apply to claims you make
For more details, refer to When can we cancel under Optional Personal Valuables cover,
your policy? on page 14. and for loss or damage caused by the
insured events ‘accidental loss or damage’
and ‘earthquake’, are outlined in this PDS
in the relevant sections.
11How your policy works | 2
Paying your excess. • build, renovate, make structural alterations
or additions, demolish or relocate a building
If the amount of your claim is less than
at the insured site. Unless we agree otherwise,
the excess, the claim won’t be paid.
your policy will provide only limited cover
If you make a claim under: while construction, renovations, structural
alterations, additions, demolition or relocations
• Building cover and Contents cover, are being carried out. For more details refer
• Building cover and Optional Personal to Before you begin building or renovating
Valuables cover, on page 13,
• Contents cover and Optional Personal • the insured property has existing
Valuables cover, or unrepaired damage,
• Building cover, Contents cover and Optional • the insured property is not watertight, well
Personal Valuables cover, maintained, structurally sound and secure,
for the one insured event, only the higher • security devices that any insured previously
excess applies. told us about have been removed or are no
longer working,
2.6 Keep proof of ownership. • you or any person insured by this policy make
a purchase that is likely to affect the adequacy
Keep records of your belongings and any
of the sum insured,
documents that prove their value, as these
records may assist if you need to make a claim. • the insured property will be used for any
business, trade or profession (other than
You can read details in the Lodging a claim
use as a home office, for tutoring, or for ad
section starting on page 50.
hoc babysitting). Unless we agree otherwise,
your policy will not provide any cover
2.7 Notify us about any changes. while your insured property is being used
You must notify us before or as soon as you for any business, trade or other profession.
become aware of any of the circumstances For more details, refer to General exclusions
in this section as they may affect your cover. on pages 15 to 16,
We’ll then discuss any changes that may be • the occupancy of a building on the insured
needed to your cover, for example changes in site will change e.g. renting out a building,
premium, conditions, limits, exclusions or when or the property will become your holiday home.
cover will stop. We’ll confirm the agreed changes Unless we agree otherwise, your policy will not
in writing, if applicable. provide any cover while your insured property
is being rented or used as a holiday home,
You must notify us before or as soon as you
become aware that: • you have more than three people living
in the home who are not:
• the insured property will become unoccupied
for more than 60 consecutive days. Unless we – a family member of a policyholder, or
agree otherwise, your policy will provide only – a family member of anyone living in the home,
limited cover if the insured property has been
unoccupied for more than 60 consecutive • the insured property will be sold. Your policy
days. For more details, refer to If your home will not provide any cover from the date risk
will be unoccupied on page 13, transfers upon the sale of the insured property,
and you will be entitled to a partial refund
of premium,
12How your policy works | 2
• any contents insured under the policy will be If you’re moving house.
moved into storage (including onsite storage),
If you’re moving house, please contact us.
• any insured will move to a new To ensure your building and contents are covered
residential address, at your new address, you’ll need to take out
a new policy.
• any insured has been convicted of, or had
fines or penalties imposed, for any crime Before you begin building or renovating.
involving drugs, dishonesty, arson, theft, fraud
If you plan to build, renovate, make structural
or violence against any person or property
alterations or additions, demolish or relocate
in the past five years,
a building at the insured site, you need
• any insured has had any Home and Contents to inform us before work begins. Unless we
insurance or Landlord insurance declined agree otherwise, your policy will not provide
or cancelled in the past five years. Building, Contents or Legal Liability cover while
construction, renovations, structural alterations
If your home will be unoccupied.
or additions, demolitions or relocations are being
‘Unoccupied’ means there is no person living carried out.
and sleeping in the home.
For example, you must tell us about any
Unless we agree otherwise, your policy will not extensions to buildings, new outbuildings and
cover the following insured events if your home building work to the structural elements of your
is unoccupied for more than 60 consecutive days: property: the roof, external walls, foundations
(including stumps, stilts and poles), internal
• Escape of Liquid, if it originates from load-bearing walls, staircases, balconies, exterior
the insured site, doors and windows. You do not need to tell
• Fire, if it originates from the insured site, us about non-structural improvements such
as redecorating a room or laying new carpet.
• Theft, and
Your policy also won’t cover any legal liability
• Malicious acts and unrest. that arises during construction of your building
or from building work costing more than $50,000.
If we agree to continue providing full cover during
For more details, refer to Legal Liability cover
the period of unoccupancy, you must:
on pages 46 to 48.
• lock all windows and doors,
Call us and we’ll tell you if your building work will
• have mail and newspapers collected daily, affect your policy.
• have lawns and gardens kept in tidy order,
• pay a higher excess if we request it,
• arrange for a weekly inspection
by a responsible person, and
• notify us when the property becomes
re-occupied.
Call us to advise if your home will
be unoccupied for more than 60
consecutive days and we will advise you
if we can continue to provide you with
full cover.
13How your policy works | 2
2.8 Renewing your cover. We will not backdate your cancellation.
Your cover will expire at the end of the period If you cancel your policy after the 21 day
of insurance shown in your policy schedule cooling off period (refer to page 3 for details),
(usually 12 months). We’ll send you a renewal we will refund the amount of the premium which
invitation before your insurance is due to expire, relates to the period of insurance which has not
or tell you in writing if we can’t renew your policy expired, less an administration fee of $30, within
for any reason. 15 business days.
If you pay by direct debit and we offer to renew If you pay your premium by monthly instalments,
cover, we will automatically renew your policy the administration fee will be deducted from
and continue to debit premiums unless you tell any refund you’re owed, or debited from your
us otherwise. nominated monthly payment account.
Each time we offer to renew your policy, If you pay your premium annually,
we will automatically adjust the sum insured the administration fee will be deducted
for your Building cover and/or Contents cover from any refund you’re owed.
(as applicable) to make an allowance for inflation
When can we cancel your policy?
and the increased costs of construction materials
and goods and services (for Building cover) We can cancel your policy (including any
and replacement costs (for Contents cover). renewed policy) for any of the reasons described
This will also result in an increase to your premium. in the Insurance Contracts Act, including
if you made a misrepresentation to us before
If you want to adjust your sum insured at any
entering into the insurance, do not comply with
time, please let us know.
the terms of your policy (including non-payment
of premium), or make a fraudulent claim.
2.9 Cancelling your cover.
We will give you prior written notice
When can you cancel your policy? of the cancellation and, if you ask us, give
You can cancel your policy at any time by calling reasons for cancelling the policy. The policy
us. Depending on your circumstances, we may will be cancelled with effect from the earlier of:
need this in writing. • when you enter into another contract
The cancellation takes effect from the date of insurance that is intended to replace
we receive your request, or such later date this policy, and
as you request. • the time specified in the notice.
If you do not advise us of your intention to cancel
your policy:
• for a monthly premium instalment policy
– we will continue to provide cover and debit
monthly premium instalments, or
• for an annual premium payment policy
– we will continue to provide cover until
the end of the current period of insurance.
14General exclusions | 3
3 General exclusions.
Of course, insurance can’t cover absolutely • settling, expansion, shrinkage or vibration,
everything. Here are the general exclusions unless it is a direct result of an insured event,
that apply to all cover described in this PDS,
• actions or movements of the sea or high water
other than:
(other than storm surge and tsunami),
• Legal Liability cover (refer to section 6.1
on pages 46 to 48), except as otherwise • hydrostatic pressure,
stated, and • invasive tree roots, which you knew about
• Domestic Workers’ Compensation cover or should have reasonably known about
(refer to section 6.2 on page 49). at the time of loss or damage arising,
What types of loss and damage are excluded. • acts by you, or someone acting with your
consent, which are intended to cause loss
Your policy does not cover loss or damage from or damage to your property,
the following situations.
• unlawful acts by you or someone acting with
Any loss or damage to the extent that it is your consent,
caused by or arises from:
• any person, organisation or authority who
• defects in design, structure, materials, legally damages or destroys or confiscates
workmanship or construction at the insured site any insured property, unless it’s a direct result
or strata site if your home is under a strata title of an insured event or to mitigate loss to your
or similar plan, which you knew about or should property, or adjacent property, for example loss
have reasonably known about at the time due to water damage to an insured property
of the loss or damage arising, while putting out a fire at an adjacent property,
• failure to take reasonable steps to keep • malicious acts of a person who is on the insured
the insured property watertight, well maintained, site with your consent or the consent
structurally sound and secure, for example: of someone who lives at the insured site,
– a storm can highlight defects rather than • vermin, insects or pests,
cause them, and
• animals or birds biting, chewing or scratching,
– damage due to lack of maintenance
is not covered. • computer virus, hacking, cyber-attack
or similar occurrence.
Refer to Tips to keep your home in great
shape on page 3 for examples of some Any loss or damage to the extent that it is
of the steps you can take. caused by or arises from:
Any loss or damage that is predominantly • war, invasion, act of foreign enemy, hostilities
caused by or arises from: and war-like operations (whether war be
declared or not), civil war, mutiny, popular
• wear and tear, gradual deterioration, or fading, or military rising, insurrection, rebellion,
• rust, corrosion, oxidisation, mould, mildew revolution or military or usurped power,
or atmospheric conditions, unless it is a direct • any act of terrorism resulting from, or arising out
result of an insured event, of or in connection with, biological, chemical,
• earth or soil movement including landslide, radioactive or nuclear pollution, contamination
subsidence, erosion or heave, unless or explosion,
it is a direct result of an insured event,
15General exclusions | 3
• nuclear weapons material or ionising radiation When your policy does not provide cover.
or contamination by radioactivity from
Your policy does not provide cover:
any nuclear fuel or nuclear waste or from
the combustion of nuclear fuel, or • while your property, or any part of the insured
site, is being used for any business, trade,
• chemical or biological materials or contamination
profession, occupation or commercial
caused by chemical or biological materials.
purposes, e.g. use as a farm, guest house,
Any loss or damage to common property where display home, club house, boarding house
the home is part of a strata, group, company or commune, unless we agree otherwise
or community title plan. (other than use as a home office, for tutoring,
or for ad hoc babysitting),
Any loss or damage to the extent that
it is covered by a warranty, guarantee • while the insured site or part of the insured site
or service contract. is being leased to a third party, or
The costs associated with obtaining approvals • after the date risk transfers upon the sale
to replace structures that were erected by you of the insured property.
or at your request, without obtaining all legally
required approvals.
In addition to the above types of loss
and damage, your policy does not cover
consequential financial loss, e.g. loss of profits.
16Home and Contents cover | 4
4 Home and Contents cover.
4.1 What’s considered a building?
✓ Building or home means: Building or home does not mean:
Residential building(s) on the insured site Greenery and outdoor decorations.
which includes structural improvements, • lawn, landscaping, plants, shrubs, trees
fixtures and fittings including: or potted plants – unless covered under
The basics. Premier Care (refer to page 35), or
• walls, doors, windows, fences, gates, decks, • outdoor decorations, or water features unless
patios, balconies, paths and driveways. covered under Premier Care (refer to page 35).
Fixtures and fittings. Business, farming, or blocks over 40,000
square metres.
• permanently fixed domestic items, fixtures and
fittings e.g. dishwashers installed in a cabinet, • buildings or structures used for business,
wall-mounted air conditioners, trade, professional, occupational
or commercial purposes (other than use
• fixed wall and floor coverings e.g. carpets,
as a home office, for tutoring or for ad
wallpaper and tiles,
hoc babysitting),
• floorboards, including floating floorboards,
• buildings or sites used for farming activity, or
• fixed internal and external window coverings,
• buildings located on sites exceeding 40,000
including curtains, blinds, awnings
and screens, square metres.
• equipment permanently connected to gas, Other structures.
plumbing, sewerage, drainage or electrical • display homes, guest houses, boarding
systems, or communication installations, which houses, houseboats, caravans, mobile homes
you own or are legally responsible for e.g. light (fixed or freestanding), or shipping containers.
fittings, alarm systems, kitchen and bathroom Strata property.
fixtures and fittings, and
• common property where the home is part
• solar panels.
of a strata, group, company or community
Home office rooms. title plan.
• rooms within your main residential building(s)
used as a home office.
Other residential structures.
• structures such as garages, carports, sheds
and other domestic outbuildings,
• permanently fixed swimming pools, saunas,
spas and tennis courts, including their fixed
fittings and fixed accessories,
• wharves, jetties and pontoons located within
the insured site or where the structure begins
or terminates on the insured site, provided
that the wharf, jetty or pontoon is not publicly
accessible by land, and
• tanks that store heating oil, gas or water.
17Home and Contents cover | 4
4.2 What’s considered contents? • fixtures and fittings owned by your landlord
at the insured site and for which you are
✓ Contents means:
liable as a tenant under the terms of a lease
Domestic items you own or are legally responsible or similar agreement, and
for and which you normally keep in a building • structural additions and improvements
at the insured site, including: to a home which is part of a strata title plan,
General household items. which are not otherwise insured under
• furniture, furnishings, household goods, the body corporate or equivalent’s building
• food, kitchenware, towels, linen, insurance policy, e.g. new dishwasher
or renovated bathroom or kitchen.
• appliances (including unfixed dishwashers)
and electrical items, Guests’ belongings.
• music and software obtained legally, • guests’ or visitors’ belongings that are
in a building at the insured site (Quality
• mobile phones, other portable electronic and
Care only) or anywhere at the insured site
communication equipment, tablets, desktop
(Premier Care only).
and portable computers, and their accessories,
• clothing, jewellery, toiletries, books, toys, Contents does not mean:
• artwork, collections and collectibles, Greenery and animals.
• fixed and unfixed carpets and rugs (if you also • lawn, landscaping, plants, shrubs, trees, or
have Building cover, payment for a benefit will • animals.
be made under your Building cover only),
Vehicles.
• floating floorboards in a home which is part
• motorised vehicles, go-karts, mini- bikes over
of a strata title plan,
50cc, trail bikes, any registrable vehicles,
• internal window coverings e.g. blinds, curtains, caravans or trailers (unless stated otherwise),
(if you also have Building cover, payment will • motorised watercraft and all watercraft
be made under your Building cover only), more than four metres in length (other than
• sporting equipment including golf buggies, surfboards, sailboards, surf-skis, canoes
• musical instruments, and and kayaks), or
• tools, registered firearms. • aircraft, drones, micro-lights, hang gliders,
Personal aids. and their parts and equipment (unless it is
a model or toy aircraft, provided they are
• wheelchairs, mobility scooters, and
being used legally).
• personal portable medical equipment
(e.g. insulin pumps, hearing aids, Business items.
dentures, prosthetics) and medicine. • trade stock and other contents relating to and
to be used in connection with a commercial
Outdoor items.
business, other than home office equipment.
• lawn mowers (including ride-on),
Other.
• mini-bikes (up to 50cc) that don’t
• any structure or property that is
require registration,
included in the definition of building
• items designed for use outside which aren’t (unless specified otherwise),
permanently fixed (Quality Care and Premier
• common property where the home is part
Care only) e.g. above ground swimming pools,
of a strata, group, company or community
mobile BBQ, outdoor furniture,
title plan,
• non-motorised watercraft up to four metres • bullion, or
in length, and
• records or data stored in a computer (unless
• surfboards, sailboards, surf skis, canoes
covered in Premier Care Additional benefits).
and kayaks.
Fixtures and fittings, structural improvements.
Some contents items have limits on
• fixtures and fittings installed by you as a tenant,
cover. Refer to pages 42 to 43 for details.
with the approval of the landlord,
18Home and Contents cover | 4
4.3 Insured events (Building cover and Contents cover).
This summary of insured events is a reference tool only. For further details of the relevant terms
and conditions, limits and exclusions on cover, refer to the page numbers shown.
Insured events Essential Quality Premier
summary. Care Care Care Page
Earthquake ✓ ✓ ✓ 20
Escape of liquid ✓ ✓ ✓ 21
Excludes loss or
damage resulting
from liquid escaping
from a shower recess.
Explosion ✓ ✓ ✓ 21
Fire ✓ ✓ ✓ 22
Flood ✓ ✓ ✓ 23
Impact ✓ ✓ ✓ 24
Lightning ✓ ✓ ✓ 25
Malicious acts ✓ ✓ ✓ 25
and unrest
Storm ✓ ✓ ✓ 26
Excludes damage
to gates, fences and
freestanding walls.
Theft ✓ ✓ ✓ 27
Cover provided Cover provided
for building and for building and
contents. For contents. For
Contents cover, theft Contents cover,
is only covered if the theft is covered if
theft occurs from a the theft occurs from
fully enclosed and a fully enclosed and
lockable building at lockable building at
the insured site. the insured site and
for up to $2,000 in
the open air at the
insured site.
Accidental ✕ ✓ ✓ 27
breakage of glass
Electrical motor ✕ ✓ ✓ 28
burnout
Accidental loss ✕ ✕ ✓ 29
or damage
If you have Premier Care and, in the event of a claim, the benefit payable would be greater under Quality Care
or Essential Care, then the greater benefit will be paid. Similarly, if you have Quality Care and, in the event of a claim,
the benefit payable under Essential Care would be greater, then the greater benefit will be paid.
19Home and Contents cover | 4
Insured events.
Depending on whether you have Building cover or Contents cover, we will insure your building
and/or contents against loss or damage caused by the following events if they occur during your
period of insurance.
✓ indicates that cover is provided under a specific type of policy, subject to the terms and conditions
of the policy.
indicates that cover is not provided under a specific type of policy.
Essential Quality Premier
Earthquake. Care Care Care
Covered. ✓ ✓ ✓
Loss or damage caused by earthquake.
For every claim we agree to pay, your excess will be
the greater of your basic excess or $300.
Not covered.
• Loss or damage to the extent that it is caused by or arises from:
– defects in design, structure, materials, workmanship or construction at the insured site,
(or strata site if your home is under a strata title or similar plan) which you knew about or should
reasonably have known about at the time of the loss or damage arising, or
– failure to take reasonable steps to keep the insured property well maintained, structurally sound
and secure (refer to Tips to keep your home in great shape on page 3 for examples of some
of the steps you can take).
• Loss or damage that is predominantly caused by or arises from:
– wear and tear, or gradual deterioration,
– hydrostatic pressure,
– earth or soil movement including landslide, subsidence, erosion or heave, unless it is a direct
result of an earthquake during the period of insurance, or
– settling, expansion, shrinkage or vibration, unless it is a direction result of an earthquake during
the period of insurance.
20You can also read
