There are many things to think about when getting building insurance for your home. Like contents insurance, building insurance is very important in making sure that if anything happens, you’ll be covered. Here, we’ve listed the ins and outs of building insurance and the main things for you to consider when finding the right insurance company:

What is building insurance? Building insurance is insurance that covers your home for any damages or loss caused by fallen trees, storms, fires and more.

Why is it so important? If something were to happen to your home, you could be up for hundreds of thousands. This insurance not only offers you peace of mind, but saves many Australians from financial ruin when faced with some of the countries harshest weather conditions.

What are some of the things to look for when getting building insurance?
Like any insurance policy, it’s very important to read the fine print and all the details. Some of the things you should consider when purchasing building insurance include:

• Temporary accommodation- This is very important and an obvious one, but it is vital you make sure that they will offer you temporary accommodation for you and your family whilst repairs are being made to your property. The last thing you want after having something happen to your home is to have to look for a place to stay.
• Paperless claims and a 24 hour service- You can’t control when something happens to your home and when it does you don’t want to have to wait for a form to arrive and fill in for you to get the ball rolling with your claim. Most insurers offer over the phone paperless claims on building insurance and are available 24/7, so whenever something happens to your home, you can talk to your insurer immediately.
• Options you can choose to ensure you get the right cover for you- Some insurers offer customers a number of options to include in their cover. Some will also incur an extra fee but will be good to have should anything happen. An option could include for example, accidental damage to your home.
• Loyalty discounts and rewards-Can the insurer offer you discounts and rewards on your home insurance if you have been with them for an extended period of time? This can be important over a long period of time and can save you hundreds in the long run so it’s definitely something to consider.

Building insurance is vital for every home owner. Before deciding on what insurer to purchase your policy from, it really is a good idea to shop around and make sure they offer you the services and level of cover you want. I hope our list of the ins and outs of building insurance has given you some more knowledge on how to choose the right home insurance for you, and why it is so important for you and your family to have.