What to do in an emergency
If it’s not life threatening, report any loss to the police and keep a list of any items stolen or damaged.
Next, contact our team on 1300 392 535.
Sure Insurance today urged regional Queensland householders to ensure they maintain an adequate level of home insurance cover while COVID-19 crisis home mortgage repayment freeze agreements were in place.
The Sure Insurance call comes after home-lending institutions offered mortgage repayment deferrals for up to six months to those suffering financial pain as a consequence of the national Coronavirus crisis.
Managing Director of Sure Insurance, Bradley Heath said if a householder has entered into a mortgage repayment freeze, it is critically important they continue to maintain an adequate level of home building insurance (sum insured) during the deferral period.
“Sure Insurance is reminding home-owners that home loan contract conditions require home insurance cover is in place for the duration of the loan term.
“If a householder has entered into a mortgage repayment freeze it’s essential an adequate level of home insurance cover is maintain during the deferral and entire loan period.”
“We know it’s extremely tough at the moment for many Queenslanders and some may be tempted to reduce their level of home cover or even cancel their home insurance to save money.”
“It would be a tragedy if an insurance cover lapsed and a total loss of the home occurred. The home owner would be financially responsible for the whole mortgage amount on a home that is either completely destroyed or damaged,” said Mr Heath.
The sum insured should include all costs associated with rebuilding the home to its previous standard and factor in demolition and removal costs, local council fees and current regional construction costs. Allowances for specific regional building standards and requirement should also be considered when calculating the sum insured.
“Sure Insurance is providing relief for householders by spreading the cost of home insurance across twelve months at no extra cost. Unlike most other insurers, Sure Insurance does not charge any extra for pay-by-the-month options,” said Mr Heath.
“Sure also provides a range of home insurance excess options by allowing householders to increase their excess to lower their up-front premium.”
“For example, if a householder chose a $5,000 excess of their home insurance, they could immediately save $62.50 per month – an annual saving of $750 dollars.”
“Sure is open for business through this Coronavirus crisis and is ready to assist customers with questions about their home insurance, “ said Mr Heath.
Home Sum Insured Checklist:
Further information contact Mike Sopinski at Sure Insurance on 0421 052 598.
Sure Insurance is Queensland owned and operated. We have partnered with global insurer, Liberty Mutual Insurance Company (Liberty), who underwrite your policy. In Australia, Liberty is licensed and regulated by the Australian Prudential Regulation Authority (APRA) and meets all prudential requirements
All financial services in connection with your policy are provided by us, on behalf of Liberty, under our Australian Financial Services Licence (AFSL 506378). Contact us for more information.