In calculating prices, we consider many factors that statistically influence the likelihood of you having a claim. These include:
Where you live
The number of claims in your area, crime rates and the exposure to natural events such as bushfire and flooding.
The type of building
The type of home you live in, its age, the construction materials used to build it and any security features such as alarms, deadbolts and window locks.
How your home is used
We offer you a lower premium if you use your home for personal use only, compared to it being rented out to tenants or being used for business purposes. If the way you use your home changes, it’s important to let us know as this may impact your policy coverage.
The total sum insured
The total sum you insure your Building and/or Contents for. It’s important to make sure you’ve got the right amount of cover so that you are covered for the rebuild and/or replacement costs if you had to make a claim.
Previous claims experience
If you haven’t claimed on your insurance in the past, it’s a pretty good indicator that you are less likely to claim in the future.
Including your age, how many years you have held insurance and if your home is under finance.