Know Risk is a community education program designed by the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) to improve our understanding of insurance and how it relates to managing the many risks we all face in life.
Questions about Home Insurance Policies
Questions that every Home Owner should ask about their insurance policy:
1. What Home Owners Insurance Policy do I have and what and who is covered under my insurance?
2. What is excluded from the policy ie what possessions or risks am I not covered for?
3. Are there any limits on valuables such as computers, jewellery or silverware?
4. Does my policy cover water damage? What kind?
5. Should I consider any optional or extra home owners insurance coverage? For example, flooding or bushfire damage are often not automatically covered, nor are priceless paintings.
6. Are there any safety features that I could install in my home that would save money on my home owners insurance policy and increase my protection with my policy?
7. Does the insurance company offer a 24 hour claims service? How do I file a claim and what are my responsibilities with claims?