Building and contents insurance protects against damage or loss of your property and belongings. If you own your own home, you can bundle these covers together. If you’re renting or live in a strata building, you may want to consider contents insurance.
Use our Building sum insured calculator or Contents sum insured calculator to estimate how much cover you need.
Private health insurance can cover some hospital and medical costs that aren’t covered by Medicare – including ambulance cover, and extras such as optical and dental. While health insurance isn’t compulsory, if you earn above a certain level of income, you may need to pay the Medicare levy surcharge.
If something happens to you or your partner, this can have a devastating impact on your finances. That’s where life insurance may help. There are different types of life insurance available, depending on your circumstances and needs:
- Life cover (also called death cover) – pays a lump sum benefit if you die or become terminally ill.
- Total and permanent disablement (TPD) cover – pays a lump sum if you’re no longer able to work due to a specified permanent disability.
- Income protection – pays a regular benefit if you’re unable to work because of injury or illness.
- Trauma cover – pays for medical traumas such as heart attack or cancer.
Before you insure
Cover can differ from one insurer to another, so make sure you choose a policy that meets your individual needs. Insurance doesn’t cover everything so it’s important to find out what’s covered and what isn’t. Make sure you also understand the premium costs and any excess you’ll need to pay if you do claim.