3 common home insurance claims

Ever wondered what common home insurance claims are? Here’s a breakdown of three common claims. 

Domestic Home insurance is designed to provide cover for your home and personal contents against specified insured events. If you do have to make a claim, there’s a good chance it could be for one of the 3 most common events: fire, storm or water damage.

Fire

The devastating bushfires of 2023-24 reminded us all how important home insurance can be. Home and contents insurance can provide cover for your buildings and contents if they are damaged or destroyed by fire, including bushfire.

It’s common practice for insurers to apply a waiting period before bushfire cover becomes effective. Please refer to your home insurance Product Disclosure Statement for full policy conditions.

Storm damage

Home and contents insurance can cover the costs of repairing or replacing your home or belongings for loss or damage caused by storm. Similar to fire cover, there’s generally a waiting period before storm cover becomes effective.

Most insurers will have a definition of what they consider to be a 'storm', and it will usually require that the storm be a cyclone or tornado, or rain, hail, wind or snow of significant force and/or volume.

It’s important to note that you’re responsible for closing all the doors and windows to your home when a storm is approaching. If they are left open and rain, hail, or snow enters the property, your claim may not be covered. For full policy conditions, please refer to your home insurance Product Disclosure Statement.

Water damage

With building and contents insurance, you could make a claim for loss or damage caused by the unexpected escape of any liquid from a washing machine, dishwasher, toilet, basin, fixed heating system, fixed tank, pool, spa or water main.

You could also be covered to repair or replace the item the liquid escaped from. However, you may not be covered for loss or damage caused by a gradual escape of liquid, or a faulty or leaking shower recess or shower base. For full policy conditions, please refer to your home insurance Product Disclosure Statement.

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Distributed by Commonwealth Bank

Things you should know

This article is intended to provide general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. The commentary provided from external companies that are not a member of the Commonwealth Bank of Australia Group of Companies (the CBA Group) does not represent an endorsement, recommendation, guarantee or advice in regard to any matter. The CBA Group does not accept any liability for losses or damage arising from any reliance on external companies and their products, services and material. Commonwealth Bank of Australia ABN 48 123 123 124.

Home Insurance, Landlord Insurance and Car Insurance are provided by Hollard Insurance Partners Limited ABN 96 067 524 216, AFSL 235030 (Hollard) and distributed by the Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (CBA). Hollard is the insurer of these general insurance products. Hollard is not part of the CBA Group. CBA does not guarantee the obligations or performance of Hollard or the products Hollard offers. Neither CBA, nor any of its related bodies corporate accepts liability or guarantees payment of any claim or benefit in respect of these general insurance products issued by Hollard. CBA may be paid a commission if Hollard issues you with a Home, Landlord and/or Car Insurance policy. Details are provided in the Financial Services Guide (FSG) by clicking on the link, or by calling 13 1361 for a paper copy.

For products issued by Hollard, information about the target market can be found within the product’s Target Market Determination.

This information has been prepared without considering your objectives, financial situation or needs. Before making any decision about this product you should consider this information in relation to your own circumstances. A Product Disclosure Statement (PDS) is available at all Commonwealth Bank branches, by downloading them from commbank.com.au or by calling 13 1361 and should be considered before making any decisions about this product. You should also read the Premium, Excess and Discount Guide (PEDG), Key Facts Sheets (KFS) and Financial Services Guide (FSG) by clicking on the links, or by calling 13 1361 for a paper copy.