Home Insurance
Designed To Suit Your Lifestyle
Buying a home is a lifetime commitment and for many Australian's their home will be the largest single asset that they own. No one can predict what will happen to your home, that's why it is so important to insure your assets.
Unfortunately people continue to be underinsured in relation to the replacement value of their assets.The result of being underinsured when making a claim can be devasting.
When buying insurance it is important to consider not only increases in the cost of living but extra purchases that you have made during the year. With growing families many Australian's add extensions to their houses, forgetting to adjust their insurance accordingly. For this reason, it's very important that you undertake a yearly review of your insurance cover to include these changes and to assess the replacement value of your home and its contents, so if disaster strikes you won't find yourself out of pocket.
Here are some things to consider to ensure you don't get caught out :-
 The value of investments grow with inflation, however unless your coverage is adjusted accordingly you will not get back the value of the contents in the case of accident or theft. Make sure you assess your valuables correctly to replace the asset at today's value.
Ordinary indeminity policies only cover the depreciated value of the contents at the time they were stolen or damaged. New for old cover will provide full current replacement cost.
Your incidental purchases over a long period can add up in value quickly, stocktake your contents every 12 months to make sure you are totally covered.
Check carefully what will not be covered or exclusions from your insurance policy. In some cases it is possible to pay a slightly higher premium and receive much wider coverage.
Limits usually appy to cover for valuables eg jewellery, works of art etc unless they are specified in the policy or subject to their own separate cover.
For more information on an insurance policy that suits your lifestyle call Police Credit Union on 131 PCU (131 728).
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