Insuring the buildings
Although policies vary from one insurer to another, most building policies cover the main dwelling, its garage and other outbuildings, walls, gates, fences, drives, verandas, patios, swimming pools and landlord’s fittings and fixtures. One of the most important items of insurance we can obtain for you is reinstatement and replacement cover. This is for all the above structural items. You should be sure that the insurance covers the full cost of rebuilding because it might be much higher than the market value. While standard building insurance policies cover a wide range of risks, you should also think about if you need to increase your premium and obtain an accidental damage policy which covers virtually all types of accidental or malicious damage to structures.
Contents Insurance
Everyone with a home needs to insure its contents, whether the property is owned or rented. Even for a small flat, the cost of replacing furniture, carpets and personal possessions can be substantial. The cost of contents insurance is trivial by comparison. However, contents insurance policies vary greatly and it is here where we can offer valuable advice. For example, a householder can choose “new for old” cover or straight indemnity, which only covers the depreciated value of the contents. Some policies include, or can be extended to include, accidental damage. Others have optional extensions for television sets, stereos, computers, freezers, bicycles and many other such items. “Multi risks” cover is available for your personal possessions but usually this class imposes an upper limit on the value of any unspecified items.
Insurance advice is easily obtained from us at GNG. As a broker we are independent and deal with a whole range of insurers. We know what policies are available, what cover they provide and what special conditions or charges might be imposed. We also know what optional extra covers are available. To know more about us, please visit us at
www.gng.com.au
