Is your ‘Sum Insured’ adequate?
If you had to rebuild your home and replace all the contents in it would your ‘Sum Insured’ be enough? Many people do not realise until they need to make a claim that they have underinsured their home and contents and cannot afford to rebuild and replace all the contents in the home.
When considering the value of your contents insurance, think about the entire contents of your home and having to replace everything in it – including your DVD collection, your cutlery and linen, children’s games and toys, the esky and picnic blanket – not just the big ticket items that immediately spring to mind like your digital big screen LCD TV or leather lounge suite.
You can access the Contents and Building calculators provided free of charge by the Insurance Council of Australia here. Please review their disclaimers.