Cover options Q&A

Important note:

The following questions are to be used as a reference guide only and do not substitute or replace your insurance contract, the PDS or Certificate of Insurance.

How do I know how much I should insure my building for?

We can only provide general advice about your Landlords Insurance; we can’t provide you with advice about the replacement cost of your building. When considering the sum insured for your building insurance, this amount should cover the full cost to rebuild including the cost of structural improvements such as carports, fences and pools and clearing debris from the land in the event of a total loss, however, the sum insured should not include land value.

You should also consider increased building costs to meet stringent and Local Council building requirements. If you are unsure of the replacement cost, a builder or architect may be able to assist you or we strongly recommend you use a building calculator.

Do I need to know the measurements for the building?

No, we do not need to know the exact measurements of the building. Some examples of the things we need to know are:

  • The address and age of the building
  • The construction type and roofing materials (for example, brick, cladding, tile)
  • The security measures in the building (for example, alarms and deadlocks)

Why don’t you offer an ‘unlimited’ building sum insured?

Real Insurance lets you choose your own sum insured for your building and contents insurance. This way, you have peace of mind knowing that you are covered for the amount you think you’ll need if you suffer a total loss of your building. There is no advantage in being over-insured and paying a higher premium because of this.

Are my fences covered?

Fences are covered under our insured events, however, we do not cover damage caused by storm, rainwater or flood if the fences and gates are not structurally sound or well maintained.

Electrical motor burnout is automatically included on my previous insurance, why do I have to pay with you?

Each insurer will have different cover levels. We do not want you to have to pay for things you may not need, therefore Electrical motor burnout is an optional benefit you can choose to include in your cover or not.