• The Kitchen
  • Homesteading
  • Homeschool
  • Housekeeping
  • Money Saving Tips
  • Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Simple At Home

Simplifying Home and Family

  • Recipes
  • Family
    • Marriage
    • Parenting
    • Baby
    • Caregiving
    • Pets
    • Health
      • Healthy Living
  • Home and Garden
    • Homesteading
    • Gardening
    • Home Improvement
  • Homeschool
    • Kid Activities
  • Frugal Living
  • Contact
    • Terms

What Does Home Insurance Cover?

June 2, 2021

In a nutshell, home insurance covers the cost of property or building damage. 

Building insurance isn’t equivalent to the market value of your home, but the cost that it took from building it to the ground up. These costs cover the basic things that need repairing damaged structures, namely pillars, walls, roofs, fixtures and fittings—but there’s much more to it than just that. 

Building insurance providers such as NRMA provide homeowners with security if any form of damage occurs in their home. 

Listed below are 14 things that building insurance companies like the NRMA covers!

1. Fire

Has your house met a terrible, charred fate? Has a stray bushfire barged into your front door and left ashen remains in its wake?

If yes, you’d be pleased to know that building insurance offers you coverage for unfortunate cases such as these. Just don’t commit arson trying to claim it. 

2. Theft and Vandalism

Has a thief or burglar ransacked your home and stolen your precious belongings?

Preventing that by locking your doors and having security measures in place would help. But if these intruders can’t take a hint and enter your homes anyway, building insurance will cover any losses.

3. Water and Oil Leaks

No one likes or expects a burst pipe. But it does and will happen if not inspected regularly. In case that day comes, your building insurance plan can give you coverage to prevent you from taking large losses.

4. Flooding and Storm Surge

Riverine flooding occurs in low-lying areas beside bodies of water like rivers and streams. If you live in flat inland regions of Australia, you’d be susceptible to the brunt of the flood that can last for weeks. In more coastal and mountainous areas, floods can happen more rapidly and unpredictably. 

Building insurance covers the cost of the damages your home has met from the floodwaters. To stay up to date on rainfall information, get informed with the Australia Rainfall and River Conditions page maintained by the Bureau of Meteorology.

5. Rebuilding your home

If your home’s been damaged by an event that’s insured, then building insurance can also cover the repair and the fixes your home needs up to that amount.

6. Emergency repairs

Is your home in need of urgent repair? Building insurance plans may provide the option of 24/7 open communication lines to help provide for your needs.

7. Temporary accommodation

Is your home completely unlivable? Has it been devastated by the unpredictable forces of nature?

Building insurance covers forms of temporary accommodation up to the insured amount. This will help keep a roof above your head in case you’re strapped for cash and don’t have other options readily available to you.

8. Building materials

Are you renovating your home? Building material can cost you hundreds if not thousands of dollars.

Fortunately, building insurance covers the resources you’d need to give your home a brand new look up to the covered amount.

9. Broken glass

If you, your child, your pet, or an angry neighbour suddenly smashed a window or some ceramic to smithereens, building insurance also covers cases such as that.

10. Lightning

Even though a house is a safe shelter against thunderstorms, one-third of lightning-related injuries can also happen indoors. Whether it’s you or your home that’s been affected by direct lightning or power surges, building insurance covers that.

11. Impact Damage

If a car has collided with your property and caused damage, then you can get covered with building insurance. The same coverage applies if a tree falls and damages your house too.

12. Liability for injury or damage

Building insurance also covers your legal liability in applicable situations, say when someone gets injured or if their property gets damaged at your home.

13. Demolishing & Removing Debris

Whether your home’s been ravaged by fire or flooded, and it can’t be salvaged with renovations, then building insurance can pay for demolishing and clearing out the lot.

14. Cover if renting out your house

If someone renting your home damages your property, then you can get coverage for this with your building insurance. Alternatively, you can also ask your insurance provider if they offer Landlord insurance for a more complete protection package.

Share this:

  • Click to share on X (Opens in new window) X
  • Click to share on Facebook (Opens in new window) Facebook
  • Click to share on Pinterest (Opens in new window) Pinterest
  • Click to share on Stumble Upon (Opens in new window) Stumble Upon
  • Click to share on Reddit (Opens in new window) Reddit
  • Click to share on WhatsApp (Opens in new window) WhatsApp
  • Click to share on Telegram (Opens in new window) Telegram
  • Click to share on LinkedIn (Opens in new window) LinkedIn

Like this:

Like Loading...

Related

in Finances

Reader Interactions

you may also like
How you can Start a Stockpile Without a lot of Money
Our Tips for Starting an At-Home Business to Save Money
Strategies for Encouraging Kids to Help with Cleaning
Must Know Budgeting Tips To Make Your Life Easier

Leave a ReplyCancel reply

Primary Sidebar

Simple at home back to the basics kitchen . Simple At Home saving money and building wealth . Simple at home homeschool, homeschooling, home education . simple at home home and garden

Recent Posts

  • What To Do If You Get Norovirus
  • Simple Tips and Tricks To Upgrade A Box Of Cake Mix
  • Homemade Silly Putty
  • How To Make Money Raising Quail
  • Best Substitutes for Oil in Cake Mix: Transform Your Boxed Cake Mix
with love,
Jenn

Army veteran wife, Homeschooling mom, Urban homesteader




Join in on the adventure!


Readers are
loving
Jenn
recommends
Test

Looking for something?

Simple at home back to the basics kitchen . Simple At Home saving money and building wealth . Simple at home homeschool, homeschooling, home education . simple at home home and garden

Recent Posts

  • What To Do If You Get Norovirus
  • Simple Tips and Tricks To Upgrade A Box Of Cake Mix
  • Homemade Silly Putty
  • How To Make Money Raising Quail
  • Best Substitutes for Oil in Cake Mix: Transform Your Boxed Cake Mix
with love,
Jenn

Army veteran wife, Homeschooling mom, Urban homesteader




Join in on the adventure!


Readers are
loving
Jenn
recommends
Test

Instagram

follow @guineverelily

[instagram-feed feed=1]

2022 © Your Blog Name
made by soulmuse
%d
    x