*iSelect does not compare to all home and contents insurers in the market. The availability of policies may change from time to time. Not all policies made available from iSelect’s providers are compared by iSelect and due to commercial arrangements, area or availability, not all policies compared by iSelect will be available to all customers. See below for our range of home and contents insurers. Some policies are only available from iSelect’s call centre or online. Our advice on this website is of general nature and does not consider your situation or needs. Consider if any advice is appropriate for you before acting on it. Learn more.
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What is Contents Insurance?
While there’s no replacing sentimental value, Contents Insurance may help cover the financial value of your phone, laptop and other possessions at home if they’re damaged or stolen.
Why compare Contents Insurance?
Different Contents Insurance Policies may offer increased coverage and higher limits for claims, not to mention lower premiums. Comparing policies may help you find one that offers better value all-round.
Are there different types of Contents Insurance?
New for old
Even if your items were looking a little worse for wear when they were damaged or spirited away, this cover could help you replace them for their brand-new cost. This privilege may mean higher premiums though.
Replacement at value
This is your like-for-like replacement, down to how much your items were worth at the moment they were damaged, lost or stolen. Essentially, these policies take into account the depreciating value of your valuables.
Contents Insurance
with iSelect
with iSelect
Get to grips with the basics of Contents Insurance.
Frequently Asked Questions
What does Contents Insurance cover?
What’s isn’t covered by Contents Insurance?
Will Contents Insurance cover items in my garage or shed?
How do I figure out the value of my contents?
There’s a couple of ways you can reach this magic number. If you’re feeling a little time-poor or just want to get it done and out of the way, you can use our Home Contents Calculator to estimate your contents’ worth based off of your address. It also factors in other variables, like how many rooms you have and the average quality of your items, like if they’re low-cost IKEA staples or bespoke, expertly crafted options.
Alternatively, if you’re up for a bit of legwork (figuratively and literally), you could try option two. This is where you work your way through each room of your house, making an inventory complete with photos and assessing the value of every item you want to insure. If you happen to be the kind of person who keeps all your receipts, you can also match these up to your valuables for a more accurate estimate of their worth. While this approach can take a little more time, it could also be a way to kill two birds with one stone if you’ve been looking to declutter or just find where you put your favourite ring.
How does excess work for Contents Insurance?
Your excess is a like the gap you pay when you visit the doctor. While the idea behind Contents Insurance is to cover the cost of your contents when disaster strikes (or less extreme events, like deciding the white carpet rather than the coffee table is the best place to rest your wine glass), it may not cover you until you hit a certain limit. The excess is the money you’ll have to pay out of pocket.
Depending on your policy and insurer, you may be able to choose your excess to an extent. If so, it could be a way to keep your premium lower thanks to choosing a higher excess. Of course, you may want to factor in if you can handle the higher excess if something were to happen. After all, while low premiums can be great, if you can’t afford to cover the excess to make your claim, your Contents Insurance could all be for naught!
How are Contents Insurance premiums calculated?
While they’re not as complex as any calculations that NASA make every day, there’s a fair bit that goes into figuring out what your premium could look like. This can include:
- The value you’ve insured
- The scope and limits of your cover, including optional cover
- Your excess
- Your home’s location, along with the likelihood of severe weather and crimes
- What security features you have at home
- Your claims history
At its heart, it’s an equation based around the likelihood of you claiming and your insured belongings’ value.
Is there a limit to how much my Contents Insurance will pay?
How can I save on Contents Insurance?
Can I combine my Contents Insurance with Home Insurance?
Getting a combo Home and Contents Insurance Policy may not be as tempting as burgers, chips and a drink but it could be convenient and even great value. Many insurers offer bundled Home and Contents Insurance to cover your property and your possessions in one simple premium. That premium could even be discounted.
However, it might not always be the way to get the biggest savings or the cover you’re looking for. Doing your research and seeing what else is out there, combo or not, may help you get cover that better meets your budget and insurance goals.
What happens if I move house?
Since your Contents Insurance is tied to the property, you may want to look into letting your insurer know about your move. They can then update the policy with your new address or you could even check out getting a new policy altogether. Giving your insurer the heads up on the move can also mean they know where to send the next bill!
Additionally, it might be worthwhile double checking if your existing policy covers your possessions during the move (you’d like your stuff to make it to the new house after all). The policy may even extend coverage to your new address for a limited amount of time, giving you the space to get new Contents Insurance sorted out after dealing with the Wi-Fi.
What about Contents Insurance for renters?
You don’t have to own your home to protect your valuables with Contents Insurance — as long as the contents you’re insuring are yours, you’re generally good to go. Insurers may even have dedicated Renter’s Insurance that covers your valuables in a range of defined events, along with temporary accommodation to help you if you can’t stay in your rental property for certain reasons. While the additional premium on top of your rent might not always agree with your budget, you could find yourself extremely grateful for it when a pipe bursts in your apartment and the body corporate are taking their time picking a repair quote.
What if I share my home with housemates?
Having housemates might restrict you from all-night loungeroom raves or just keeping your good chocolate in the fridge, but it won’t necessarily limit you from getting Contents Insurance. Depending on the policy, there may be conditions about how many unrelated roomies you share with when it comes to just insuring your goods. Alternatively, you might want to go in on a policy with your housemates to make sure everyone’s stuff is protected.
Can landlords get Contents Insurance for their rental property?
Renting is a two-way agreement with landlords and tenants ideally aiming to do right by one another. Still, accidents can happen and plenty of arguments about who’s going to cover the costs too. But your Contents Insurance could clear things up, looking after fixtures that feel a little tough love from time to time, like carpets and blinds.
If you want to level up your coverage, you might want to look into Landlords Insurance. It may be a way to take some of the risk out of your investment, like helping out if your property ever becomes uninhabitable and it can’t be rented for a time.