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Buildings & Contents Insurance

Protect your home inside and out from loss or damage caused by one or more of 11 insured events.

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Save up to 10% on your first year’s premium when you purchase a new policy online1,3

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Combine your building and contents cover to receive up to 10% discount on your premiumt2,3

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24/7 claims assistance

Get protection for your home buildings and your contents by combining buildings and contents covers on the one policy.

If you take both Building and Contents insurance here’s how they can work together if the unexpected occurs:

  • Your house burns down. You could lose all your buildings, and everything in them. With adequate sums insured under Buildings and Contents covers, you could rebuild and replace your insured belongings.
  • A fire damages your kitchen. You could repair or rebuild built-in damaged parts of your kitchen, such as benchtops, with Buildings cover. Then you could replace damaged items like blinds and kitchenware under your Contents cover.
  • A thief smashes your window, breaks the lock and steals your belongings. You can fix the window and lock through your Buildings cover and replace the items that were stolen under your Contents cover.

Plus, you will only have to pay the applicable excess(es) once in respect of any single claim if your buildings and contents are damaged by the same insured event.

What does Home and Contents Insurance cover?

home and contents buildings cross-section illustration

Buildings > What’s covered?

Buildings insurance is designed to protect the physical structures and fixtures that make up your home buildings: from the house itself, to your garage, fences and paved driveways – even built-in appliances like hot water systems, air-conditioners and more.

home and contents contentscross-section illustration

Contents > What’s covered?

Contents insurance protect the belongings you have at the insured address: from your furniture, carpet and appliances to your BBQ and even your cloths, shoes and handbags.

So, if any of the insured events happen during the period of insurance, we’ll generally pay to repair or replace your contents – up to the policy limits.

The better you understand your policy, the easier it will be if you ever have to claim.

Here is a limited summary of the benefits of a building and contents insurance policy. For full details of the standard terms, conditions, limits and exclusions that apply please read the Product Disclosure Statement (PDS), any applicable supplementary PDS and Home Buildings and Home Contents Key Fact Sheets (KFS) before making a decision to purchase the insurance.

Select the cover to suit your needs.

Effective 22 Febuary 2021

Rebuilding and professional fees

If you need to rebuild your home after total loss or damage, Allianz will help pay the reasonable costs of architects, engineers, surveyors and solicitors up to $5,000.
Cover for the unexpected

Allianz offers protection for out of the ordinary but devastating events such as fire, storm and burglary.
Cover for storm damage

Rest easy, within the first 72 hours following a storm, Allianz have got you covered for loss or damage caused by soil movement, landslide, mudslide or subsidence caused by a storm.
Making your buildings environmentally friendly

If your buildings are totally destroyed and need to be rebuilt, in addition to your buildings sum insured, Allianz will pay up to $5,000 after deduction of any government or council rebates to help you make the new buildings more environmentally friendly.
Alternative accommodation for you and your pets

If your Building or Contents are damaged by an insured event during the period of insurance to such an extent that you can’t live in your home buildings, Allianz pay the additional costs for temporary accommodation for you up to 10% of the building or contents sum insured (as applicable) and up to $500 for temporary accommodation for your pets in a commercial boarding establishment.
Replacement locks

Allianz will cover the cost, up to $1,000, to replace the locks or cylinders of any external door or window following an actual or attempted theft or burglary if the key is stolen or you believe the key has been copied.
Vandalism or malicious damage

You are covered for loss or damage caused by vandalism or a malicious act.
Debris removal

In addition to your buildings sum insured, Allianz will pay up to 10% of your building and/or contents sum insured for the removal of debris from the damaged or destroyed part of the buildings.
Legal liability

Allianz will cover your legal liability up to $20 million for payment of compensation relating to death, bodily injury or illness, and/or physical loss of or damage to property caused by an accident (or series of accidents).
24/7 emergency claims assistance

When you need to make a claim Allianz are there for you with 24 hour claims lodgement available online, or you can call the claim line to commence the claims process over the phone.
Cover when you’re moving house

Allianz will cover your contents for loss or damage caused by an insured event both at your new and old address for up to 14 days after you first start to move. No cover is provided for loss or damage whilst contents are in transit (unless you have Accidental damage cover).

Optional covers

Apply to add any of these optional covers for an additional premium and greater cover.

Optional cover – Accidental damage

The accidental damage cover option helps protect you in the event of accidental unexpected mishaps that are caused unintentionally – giving you greater coverage for your home building and/or contents.
Optional cover - Portable contents

You can choose optional cover to protect your portable contents such as mobile phones, cameras and engagement rings in the event of theft or an accident at the insured address and when you take them out of your home, even when you are temporarily outside Australia for up to 120 continuous days in any period of insurance. Some portable contents must be specified as Listed Portable Contents with the full replacement value to be covered away from the home
Optional cover - Motor burnout

The Motor burnout option covers you if an electrical current damages your household electrical motors. This cover is automatically included if you have taken optional Accidental Damage cover.
Optional cover - Flood cover

Flood cover may be available as an optional cover to your buildings and/or contents. A 72 hour exclusion period applies.
Optional cover - Domestic workers’ compensation cover

Cover for a domestic worker (e.g. gardener or cleaner), if they are injured   while working for you at the insured address.  Only available in ACT, WA and TAS.

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Frequently asked questions

Am I covered for Flood?

Flood cover is an option on both Building and Contents in Home and Landlords policies. Please call Bank Australia on 132 888 to find out whether you are eligible for Flood cover. For full details of terms, conditions, limits and exclusions of all our home insurance cover options, please refer to the relevant Product Disclosure Statement any supplementary PDS and Home Buildings or Home Contents Key Fact Sheets.

Will I be covered if my drone is damaged or stolen within my home?

Drones and other remotely or autonomously piloted aircraft used for personal use are covered if lost or stolen within your property. They are not covered when in use, used for business or when they are not at the insured address.

How do I know if I have optional covers on my policy?

You can apply to add these options to your policy when you start or renew it (or during your period of insurance) by contacting Bank Austraila on 132 888. If you’re not sure whether you have added these cover options, you can check your policy schedule.

I have commenced using my home for business purposes - should I notify my insurer?

You must tell Allianz as soon as reasonably possible if, during the period of insurance you start using any part of your home building for business, trade or professional purposes (except for a home office).

If you don’t provide this information as soon as reasonably possible, Allianz may refuse or reduce a claim under the policy to the extent we are prejudiced by the delay or the non-disclosure.

When Allianz receive this information, Allianz may:
• propose changes to the terms and conditions of your policy
• propose to charge you a higher premium
• cancel your policy if there is a change and we can’t reach an agreement with you on altered terms and conditions; or we are no longer prepared to insure you because there has been a material change to the risk

I'm about to install a new kitchen and renovate my bathroom - should I notify my insurer?

You should tell Allianz as soon as reasonably possible if during the period of insurance your building is in the course of construction or there are any alterations, additions, demolition, repairs to, or decorations of the buildings costing more than $75,000. If you don’t provide the information as soon as reasonably possible, Allianz may refuse or reduce a claim under the policy to the extent we are prejudiced by the delay or the non-disclosure.

When Allianz receive this information, Allianz may:

  • propose changes to the terms and conditions of your policy
  • charge you a higher premium
  • cancel your policy
  • decide not to offer to renew your policy.
  • cancel your policy policy if there is a change and we can’t reach an agreement with you on altered terms and conditions or premium; or we are no longer prepared to insure you because there has been a material change to the risk.

It is also important that you increase your sum insured to take into account any extensions or renovations to make sure you are adequately covered in the event of a home insurance claim.

Policy documents and Key Fact Sheets

We do not provide advice based on any consideration of your objectives, financial situation or needs. Terms, conditions, limits and exclusions apply. Before making a decision please refer to the relevant Home or Landlord Product Disclosure Statement (PDS), any applicable supplementary PDS and Home Buildings, Home Contents, Landlord Buildings or Landlord Contents Key Fact Sheet also available for reference.

Important information

Bank Australia Limited ABN 21 087 651 607 AFS Licence No. 238431 arranges this insurance as agent for the insurer Allianz Australia Insurance Limited (Allianz) ABN 15 000 122 850 AFS Licence No. 234708. We do not provide any advice based on any consideration of your objectives, financial situation or needs. Terms, conditions, limits and exclusions apply.  Before making a decision please consider the Product Disclosure Statement. If you purchase this insurance, Bank Australia will receive a commission that is a percentage of the premium (including renewals and variations) and may be entitled to a profit share or marketing allowance if certain thresholds are met in agreed periods regarding this and other types of insurance policies entered into under Bank Australia’s arrangements with Allianz.  Details are provided in the Financial Services Guide, available in branch, by calling 132 888 or at https://www.bankaust.com.au/

1. Online discount

  • When you buy a new home insurance policy online a discount of up to 10% is applied to your first years premium including the following optional covers (if selected); Accidental damage, Flood, Motor Burnout and Portable Contents. This discount is not applied on renewal.
  • [Landlord] When you buy a new Landlord insurance policy online a premium discount of up to 10% is applied to your first years premium including the optional cover Flood. This discount is not applied on renewal.

2. Combined

A discount of up to 10% for combining Buildings and Contents covers on one policy is applied for Building and Contents, Motor Burnout and Accidental damage cover where applicable. The combined policy discount does not apply to the optional Flood or Portable Contents covers. This combined discount does not apply to Landlord Insurance policies.

3. Minimum premiums

If you are eligible for more than one discount, Allianz applies them in a predetermined order. This means any subsequent discount will be applied to the reduced premium amount after applying any prior discounts and the effect of the subsequent discount will be reduced.  For example, the aggregate effect of applying two 10% discounts consecutively means that you will not see the full benefit of both these discounts.

Discounts do not apply to taxes or government charges.

Discounts do not apply to optional covers for Domestic Workers Compensation / Landlord Workers Compensation, and may not apply to other optional covers (if available and selected).

Any discounts/entitlements may be subject to rounding and may only apply to the extent that any minimum premium is not reached.

4. Option to change your excess

Not available when an additional compulsory excess or imposed excess applies. Minimum Premiums apply.

5. Instalment premiums

If you choose to pay your premium by instalments you do not pay us any more than if you pay your premium in one lump sum annually. The premiums payable by instalments may be subject to minor adjustments (upwards or downwards) due to rounding. Note: Your financial institution may apply transaction fees to instalment payments.

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