The importance of home and contents insurance: Protect your most valuable assets

An older couple sits at a table with documents and a laptop, smiling and leaning in towards each other in a bright, modern living room, possibly discussing options with Lending Association.

The home you work so hard for and the memories shared with your loved ones should be protected.

Home and contents insurance is a vital safeguard for both homeowners and renters alike should something unexpected happen.

What does it cover for you?

Home and Contents Insurance provides comprehensive coverage for your property, belongings, valuables, sporting equipment, and liability.

Cover falls under 3 sections:

  1. Building – covers the cost of repairing or rebuilding the structure of your home including permanent fixtures
  2. Contents – cover the cost of repairing or replacing the items in your home that have been stolen or damaged by insured events
  3. Public Liability – protects you from liability if someone is accidentally injured in your home or if you or a family member accidentally injure someone outside of your home. It also provides protection if you or a family member are liable for loss or damage to another person’s property.

Typical claims

  • Fire
  • Lightening
  • Storm
  • Theft
  • Vandalism

Restoring and repairing your property and contents can be costly. Don’t bear the financial burden of out-of-pocket expenses.

As a result of an insured event, you can claim for things such as:

  • Cost of property damage repairs
  • Replacement of damaged property, and/or stolen valuables
  • Compensation and legal defence costs in the event of a liability claim
  • Temporary accommodation
  • Emergency repairs

Choosing the right level of cover

Things you should consider when purchasing Home and Contents Insurance:

Coverage type – Listed Events (Standard) versus Accidental Damage

Building Replacement Cost – how much will it cost to rebuild your home?

The total replacement cost of your personal belongings, furniture and appliances

Specifying your portable items such as laptops and phones

Taking out valuables cover for your jewellery, art or sports gear which are normally capped under contents unless specified for a nominated value

Have you disclosed all necessary information to the insurers regarding the condition of the home?

Do you regularly maintain your home where necessary to reduce your risk exposures to an insured event?

Contact us! 

Would you like your Home and Contents Insurance needs reviewed? Whether you have an existing policy but would like a health check on your current coverage, or if you are uninsured and need a policy, speak to us today.

Book a consultation

Disclaimer: Any information provided herein is of a general nature only. No consideration has been taken into your objectives, needs or financial situation. Before acting on this information you should consider if it is appropriate for your situation.

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The Albanese Government has brought forward the launch of its expanded 5 % deposit scheme to 1 October 2025, accelerating access by three months. Originally slated for implementation in early 2026, this forward-shift is aimed at helping more first home buyers enter the property market sooner.
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Universal eligibility — the scheme is now open to all first home buyers, with no income or placement caps
Higher property price caps aligned with market levels, for example:
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Rest of NSW: from $750,000 to $800,000
No Lenders Mortgage Insurance (LMI) — the government guarantees the loan portion beyond the 5 % deposit, saving homebuyers tens of thousands in insurance costs.
Projected financial benefits — the first year alone could see buyers save around $1.5 billion in LMI costs.

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