Home insurance

There are different types of home insurance depending on the purpose of the cover. You may be required to take out insurance as part of your home loan.

Types of insurance

Home

Home insurance helps to cover the cost of repairing or replacing your home if it’s damaged due to things beyond your control (e.g. natural disasters).

If you live in a unit, the body corporate will usually arrange insurance for common areas and building structures, but this will not cover your own property and contents. You will need separate insurance to cover those assets.

Contents

Contents insurance covers the cost of replacing or repairing furniture and other belongings. If you are not a home owner you will most likely only need contents insurance. There are 2 main types, policies that cover the value of your goods, and policies that replace them.

Mortgage

Mortgage insurance (also known as lenders mortgage insurance) protects the lender if you have a home loan and you cannot make the mortgage payments. Lenders normally charge you a one-off fee to cover this insurance if you borrow more than 80% of the value of your home.

Check before you sign

Find an insurer by phoning or visiting the websites of different insurance companies. Get at least 3 quotes before deciding on an insurance policy.

The insurer must provide you with a Product Disclosure Statement (PDS). It outlines the terms of the policy, the payments you will make and any exclusions or fees. Read the PDS before signing.

Storms and flooding

Consider your location, including the risk of storms and flooding, when choosing the sort of insurance cover you want.

Read more on natural disasters and your home.

Flooding

Use the interactive flood check map for information on flood levels and historic flood events in Queensland.

Contact your local council for more information if you live outside the Brisbane area.

Making a claim

Read how to make an insurance claim. The insurer has 10 business days to respond once you make a claim.

Find help to get an insurance claim paid after a storm, flood or cyclone.

Read more about insurance and natural disasters.

Contact the Australian Financial Complaints Authority for help to resolve a dispute.