The answers below are summaries only. Please check out the Product Disclosure Statement for the full terms and conditions of the policy.
What are the different types of home insurance I can get with ahm?
With ahm, you can get home insurance, contents insurance or home & contents insurance combined.
How much contents insurance do i need?
This depends on how much stuff you want to cover! Think about what items you want to insure and what it would cost to fix or replace them. Take a look at the PDS to see what’s included in Contents only cover, and then get a quote to see if this suits your needs.
How much is home insurance?
Every home is different! It’s best to get a quote based on what you need, you can also adjust your excess to suit your budget.
How much should I insure my home for?
Every home is different! It’s important to insure your home for an amount that would cover all the costs if you had to rebuild it. When you calculate the cost of rebuilding your home you should think about all the costs that would be involved, like demolition, debris removal, professional fees and council fees.
You can speak with a suitably qualified professional, such as a builder or domestic building valuer, who may be able to provide you with an accurate rebuild cost estimate. Always check that the sum insured you select will be enough to cover the rebuilding cost of your home.
What does sum insured mean for home insurance?
Sum insured is the maximum total amount that we would pay if you needed to repair or rebuild your home.
What if I rent out my home, or part of it, on Airbnb sometimes?
We don’t provide cover if your whole home is rented out on Airbnb (even if it's just while you're on holiday).
However, you’re covered if you rent out only part of your home on Airbnb (up to two bedrooms) and you're living in the home. But, it's important to understand that our policy hasn't been designed with this sort of arrangement in mind.
For more details, see the Product Disclosure Statement and Financial Services Guide (PDS/FSG) or contact us.
What’s the difference between Home Insurance and Contents Insurance?
Home Insurance is for homeowners who live in their home and want insurance for their building and fixtures. It covers the residential buildings, domestic outbuildings, fixtures, services like electricity, water and gas, swimming pools and paved driveways etc.
Contents Insurance is for homeowners living in their home or renters renting a home who want insurance for their things. Contents includes things like art, watches, jewellery, sporting equipment, carpets, rugs, furniture, electronics, bicycles, portable musical instruments and more.
An easy way to remember this is to think generally, contents insurance is for your things, and home insurance is for buildings.
Can I pay my premium monthly?
You can choose to pay monthly or yearly for your home insurance. Your premium may be slightly more expensive if you choose to pay monthly, but it’s all about what suits you and your budget.
Some of my belongings are very valuable. How are they covered?
Your valuable contents are generally covered up to your contents sum insured, however some types of contents have fixed or flexible limits.
For example, the maximum we can provide cover up to for bicycles or portable musical instruments is $1,000 per item for Basic Cover or $2,000 per item for Comprehensive Cover.
Jewellery, watches, collectables, and media (like CDs and DVDs) are covered up to $1,000 per item or collection, but you can increase these limits by letting us know and having the items individually listed with their value on your Certificate of Insurance. You don't pay extra to have these items individually listed.
If you have any jewellery or watches that you want to insure for more than $20,000, make sure to keep it in a locked safe while at home if you aren't wearing it to stay covered.
You can also add our portable valuables cover option to cover certain contents. Check out section 7 of the Product Disclosure Statement for more information.
What does accidental damage mean?
Accidental damage means damage caused in an accident to your home, if you have Home Insurance, or contents, if you have Contents Insurance.
You will be covered for accidental damage only if you choose the Comprehensive Cover option for your policy.
Some things are excluded, like scratching, chipping or denting caused by normal use. See section 4 of the Product Disclosure Statement for more information.
Under the Basic Cover option, you will still be covered for accidental glass breakage.
Why do I need to pay an excess?
Your excess is a contribution you are making towards your claim. The excess reduces your premium to make your insurance more affordable.
I run a business from home. Am I covered?
If you run a business from home, you need to let us know as part of your disclosure requirements.
We cover contents in your home office that you own, like office furniture and personal computers.
But we don't cover tools of trade, stock, or items used in connection with a business that are owned by an employer (like computers supplied by your employer), or things like loss of profit or business interruptions. Also, our liability cover doesn't extend to anything arising in connection with or out of any business carried out by you.
Check out sections 2, 6 and 8 of the Product Disclosure Statement for more information.