Protect your home while you're building your business
Fire, flood, theft, storm damage, your home is your biggest personal asset. While you're focused on growing your business, Home & Contents Insurance protects the place you come home to every night.
What could go wrong
Your home is your biggest personal asset and your foundation while you're building your business. Fire, flood, theft, storm damage, one major event can destroy everything you own and leave you homeless with a mortgage you still need to pay. Most founders and business owners are so focused on business risks that they forget to protect the place they call home.
The house fire
The burst pipe disaster
The break-in
The storm damage
What this actually covers
Home & Contents Insurance
Home & Contents Insurance protects your home and everything in it:
Building cover:
- Structure (walls, roof, floors, foundations)
- Permanent fixtures (kitchen cupboards, built-in wardrobes)
- Bathroom and plumbing fixtures
- Garages, sheds, and outbuildings
- Fences, gates, and driveways
- In-ground pools and spas
- Solar panels and fixed appliances
Contents cover:
- Furniture and furnishings
- Electronics (TVs, computers, tablets, phones)
- Clothing and personal items
- Appliances (not fixed)
- Jewellery and valuables (limited unless specified)
- Sports equipment
- Children's toys and belongings
- Home office equipment (within limits)
Standard inclusions:
- Fire, explosion, and lightning
- Storm and flood damage
- Theft and burglary
- Vandalism and malicious damage
- Water damage from burst pipes
- Accidental breakage (glass, mirrors, fixed items)
- Impact damage (vehicles, falling trees)
When you need this
Protecting your personal foundation
You need this if you:
- Own your home (mortgage lender requires building insurance)
- Rent (contents insurance protects your belongings)
- Work from home as a founder (your sanctuary and your workspace)
- Have family or dependents
- Couldn't afford to replace everything from savings
Owner-occupiers:
Need both building and contents insurance.
Renters:
I need contents insurance only (the landlord insures the building).
For founders and business owners working from home
Additional considerations:
- Standard home contents limits business equipment to $5k-$10k
- If you have expensive business equipment at home, add a business equipment extension
- Or get separate Business & Office Insurance
- Never claim business losses on home insurance; it may void your policy.
Common questions
Do I need building insurance if I have a mortgage?
Yes, your lender requires it. The building is their security for the loan. Without insurance, you're breaching your mortgage terms. If the house burns down, you still owe the full loan with no assets.
What's 'sum insured' and how do I calculate it?
Building:
Full cost to rebuild from scratch (not market value).
Contents:
Total replacement cost of everything you own. Don't underinsure—insurers apply "average clauses" (if 50% underinsured, they only pay 50% of any claim).
Does my home insurance cover my business equipment?
Partially—usually $5k-$10k limit for business equipment at home. If you have more, you need Business & Office Insurance or a home office equipment extension.
What if I rent out a room on Airbnb?
Standard home insurance may exclude short-term rental activities. Declare any commercial use to your insurer, you may need specialised host insurance or additional cover.
Can I claim for gradual water damage from a slow leak?
No. Home insurance covers sudden events (burst pipes), not gradual damage from poor maintenance or slow leaks. Regular home maintenance is your responsibility.
What's the difference between market value and replacement cost?
Market value is what you could sell your home for ($900k). Replacement cost is the amount it would cost to rebuild from scratch ($650k). Always ensure replacement cost (rebuild), not market value.
What else might I need?
Home & Contents protects your personal residence, but not everything:
If you work from home with business equipment:
Add a business equipment extension or get Business & Office Insurance to properly cover your business assets.
If you own an investment property:
You need Landlord's Insurance instead of standard home insurance, which covers tenant risks.
If you own a strata unit:
You still need contents insurance, but building insurance is via the body corporate. Get Strata Insurance advice.
If you have valuable collections or jewellery:
Specify high-value items separately, including photos and valuations. Standard contents limits are typically $5k-$10k for jewellery and valuables.