The objects and damage that your insurance covers will be determined by the level of coverage you have as well as the policy’s terms and conditions.Remember that every home and contents policy is unique, so before you lodge a claimfind out what you’re covered for.
The items and damage your particular policy covers will depend on the level of cover you have as well as the terms and conditions in your policy. Check your policy to find out if you have coverage for these three common events and items that may be important to you:
1. Defined events
If you read that your policy offers this level of cover, your belongings will only be insured if they are lost through a defined event like a fire or burglary.
2. Accidental Damage
If your policy covers your home and contents in the event of accidental damage, you can make a claim if you accidentally break or even stain your belongings that are insured.
3. Valuable items
If you have valuable items in your home, it’s usually best to specify how much you want to insure them for. This is because, many home and contents policies have limits on how much you can claim for certain items. For example, your insurer might only pay you out $500 for an unlisted piece of jewellery, even if it would cost you $10,000 to replace.
So, as soon as you acquire a valuable item that will be in your home, remember to contact your insurer and ask them to insure your item separately for its proper value. You should also keep receipts and photograph the items. That way your valuable item will be covered if it is ever damaged, lost or stolen.
Remember that every home and contents policy is different so before you lodge a claim, contact Taxcellent Consulting Services to find out how we help you understand what you’re covered for.
Your insurer usually has the right to decide whether your home insurance claim is settled with a:
- Cash payout
- Repair
- Placement
If a damaged item can be repaired easily and economically your insurer will likely repair it. If it’s expensive to repair or it’s damaged beyond repair, they will probably replace it with a new one.
If your insurer flat out refuses to pay out your claim by quoting the fine print in your policy, don’t panic. Get in touch with us today and our experienced home and contents insurance lawyer can help you understand exactly what you’re entitled to and make sure you get every last cent you’re owed.
We even offer ‘no win, no fee’* arrangements for these types of cases. wThis means that you don’t pay if we don’t win. We also employ home insurance claim lawyers across Melbourne, Sydney, Brisbane, Perth, Adelaide, Darwin and throughout Australia.
Contact us today to find out how we can take the tension out of your home insurance claim.
Frequently Asked Questions
Yes, usually. However, some won’t cover smoke damage or any damage not caused by flames.
You are only covered if you have replacement cover in your policy – some policies have fixed price cover which might not be enough depending on your situation.
Your insurer must notify you in writing when the next premium is due to renew your policy. If you don’t pay the next premium, your policy will lapse. Your insurer must notify you if this happens.
If your policy is a ‘consumer insurance contract’ entered into after on or after 5 April 2021, you have a duty to take reasonable care not to make a misrepresentation to an insurer when you take out or renew your insurance policy. That includes a duty to truthfully answer questions they ask.
Otherwise, you also have to tell the insurer anything that might be relevant to whether they will cover you. This is called a duty of disclosure. If you don’t, your insurer might try not to deny your claim, although often with our help we can ensure you receive payment.
Claiming as soon as you’re ready is your best bet. Proving your claim is much easier when the loss or damage has happened recently. However, even if it’s been a long time since the damaging event, Taxcellent Consulting Services can still help you claim.
If you are living in a rental property you can buy low-cost renter’s insurance policies instead of home and contents insurance. A renter’s insurance can cover your belongings as they aren’t covered by your landlord’s insurance policies.
You can file as many home insurance claims as you need in any one year however, the more claims you make, the higher premium your insurers will charge you going forward. This is usually because they gauge that there has become a higher risk of damage to your home.
Your insurer should respond to your claim within 10 business days and let you know if they have accepted, denied or need more information based on the details you provided.
This 10 day turn around may not be possible if your claim is due to a natural disaster like a flood or bushfire and most of your community is also affected. In cases that involve a large number of claims at once the General Insurance Code of Practice usually allows insurers up to 12 months to make a decision.
There often isn’t a statutory strict time limit when it comes to filing a home insurance claim in Australia Depending on your policy wording, time limits can vary from 30 days to more than one year, however claims should be notified as early as possible.
If your claim has been denied, you can do one of a few things, including:
Contact Taxcellent Consulting Services
Our home insurance lawyers are experts in making insurance companies pay valid claims even if they try to reject them initially.
Contact the insurer’s complaints department
By providing new evidence and information it may be possible to overturn the denial. Complaint should be put in writing to ensure they are escalated.
Raise a dispute with the Australian Financial Complaints Authority (AFCA)
The AFCA’s decision is binding on your insurer. This means if AFCA decides your insurer has to pay you then they must. You don’t have to accept the AFCA’s decision if it goes against you and might still be able to go to court.
Note: there are important time limits for going to AFCA which we can advise you about.
Take your claim to Court
If you choose to take your claim to tribunal or court, it’s a good idea to get expert legal advice from Taxcellent Consulting Services team of home insurance lawyers to ensure you succeed.
Note: there are important time limits for going to AFCA which we can advise you about.
Not usually, no. Home and contents insurance policies don’t usually cover items that friends or family bring into your home. The only exception is if you have listed their names on your policy.
