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Is my home covered for damage caused by flood and what will this cost me?

See all Home insurance FAQs

Last updated 13 January 2016

Yes, our home insurance includes cover for loss and damage caused by flood to both your building and contents.

When you apply for home insurance or renew an existing policy with us, your premium includes cover for flood. If you choose to go ahead with the insurance you’ll automatically be covered for flood from your policy commencement or renewal date (restrictions to flood cover apply to the first 48 hours of a new policy).

If the address you’re insuring isn’t in a flood-prone area, you won’t see a rise in your premium related to cover for flood. There’s no set price for cover for flood as the risk and severity of floods varies across the country. The cost is determined by a number of factors, like:

  • Where the home is
  • The type of home and the materials used to build it
  • How often flooding is expected at the address and how severe it’s likely to be

You can find out more on page 44 of the PDS.

You might also like to find out more about our definition of ‘flood’.

Important information: Home Insurance is provided by Commonwealth Insurance Limited ABN 96 067 524 216 AFSL 235030 (CIL). CommInsure is a registered business name of CIL. CIL is a wholly owned non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124 (The Bank). The Bank does not guarantee the obligations or performance of CIL or the products it offers. This information is provided by CIL and where we refer to ‘we’, 'us' and ‘our’, we mean CIL. You can download a Product Disclosure Statement (PDS) and Financial Services Guide (FSG) or call us on 13 2423 for a paper copy.

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