Home and contents insurance helps protect the value of your property, and things in it, in case of some unfortunate or unforeseen circumstances. There are a few different types of insurance so it’s important to know what each one covers to choose the best option for you. You can choose to take out a buildings policy, a contents policy, or a combined buildings and contents policy.

At MyState Bank we go a little further with our Accidental Damage Policy, offering you coverage of up to $2,500 incl GST for your phone and up to $3,000 incl GST for your bicycles. For full details, view our Product Disclosure Statement online.

Enjoy peace of mind knowing that if a window accidentally breaks, your insurance from MyState Bank is there to help you get it fixed. Other coverage options include replacing and repairing locks at entry points to your home, covering the loss of artwork including rugs, and even the loss of frozen foods as a result of the failure of a domestic freezer in an incident we have agreed to cover *.

You could enjoy new for old content cover and coverage Australia wide for bicycles, mobile phones, cameras and other photographic equipment*. The best home insurance policies are the ones that work for your life, your home and your family.

*Conditions, limitations and exclusions apply.

CGU Home Insurance policies through MyState Bank may cover more than you expect. Once you have a thorough assessment of your home and its contents, you can then review an insurance policy that helps cover you against the loss of the things that are most important and precious to you.

Building Insurance

Insuring the value of your building will include gathering estimates that cover the cost of rebuilding should anything happen. You’ll need to map out the size of your property in m2 - a floor plan or tape measure will help with this! You’ll also need to know the building style that most accurately describes your home. Knowing when your home was built will help you track down the building style used. Once you have the size and the type of building, then you can begin estimating what it would cost to replace. Factors like the state that you live in, the wall type and structure, property elevation and how old your home is will help you find an estimated replacement cost per m². For more information on how to get started on a new building insurance policy, click here.

Contents Insurance

When beginning an inventory of your home contents, take it room by room. This is probably going to be a very big list so it’s a good idea to allocate some time to this project. Count all of the rooms of your house including your kitchen, laundry, bathroom, bedrooms, entry hall and dining room. Don’t forget external spaces like patios, sheds, garages and carports.

What you choose to insure are usually the things that you absolutely need in the event of sudden loss or damage, or keepsakes and memorabilia that are difficult to replace. These can include things like your cutlery, crockery, appliances, linen, furniture, gardening equipment and furniture, unfixed personal electronics including laptops and mobile phones as well as clothes, shoes, bedroom furniture, etc. If you are able then it’s a good idea to take photographs of everything and keep a hold of your receipts in case proof of ownership needs to be made in the event of a claim.

You might also like to consult some home insurance information sheets like our bushfire preparation checklist, storm preparation checklist as well as guides to help you work out whether you have the right level of cover. For more information on how to get started on a new contents insurance policy, click here.

The average cost of home and content insurance differs between states, reflecting different property values as well as different levels of insurance risk. There are a variety of resources you can use to evaluate an average daily and yearly cost and compare policies and providers before you choose an insurer. To get a free quote for CGU Home and Contents Insurance through MyState Bank, complete a quick 5 minute online form now.