FAQ's
What is my home and contents covered for?
TIO home and contents insurance offers two levels of cover. Listed Events and Accidental Damage, both of which cover you against cyclones, storms, floods. For more information see the Home and Contents page.
How much should I insure my home and contents for?
Our insurance covers you for replacement. You need to determine sums insured that will be adequate to replace your home and all of its improvements and contents, new for old.
What will happen if I under insure my home or contents?
You cannot receive more than the sum insured you have nominated.
If you are under insured and your home is destroyed or seriously damaged, for example by cyclone or fire, then you may have to pay any shortfall between your sum insured and the actual rebuilding cost.
If your contents sum insured is inadequate, you may not be able to fully refurnish your home.
What will happen if I over insure my home or contents?
The maximum you can receive is the cost of replacement.
How do I make sure my home is fully covered?
Your Home sum insured should reflect what it would cost to rebuild your house today using the same materials and the same style of fixtures and fittings. The cost to rebuild your home is not necessarily the real estate market value.
It is your responsibility to make sure you are adequately insured. To help you determine your sum insured use our on-line Home Building Sum Insured Calculator. Alternatively you can download our Are you Adequately Covered brochure, contact us on 1300 301 833 or visit one of our branches to obtain a brochure.
How do I make sure my contents are fully covered?
Your Contents sum insured should reflect what it would cost to replace all your contents as new at today's prices.
It is your responsibility to make sure you are adequately insured. To help you determine your sum insured use our on-line Home Contents Sum Insured Calculator. Alternatively you can download our Are you Adequately Covered brochure, contact us on1300 301 833 or visit one of our branches to obtain a brochure.
Do I need to specify any valuable items to get full cover?
Yes. Some valuable items are subject to limited cover. The following items are limited to $2500 per item up to a maximum of 20% of your nominated sum insured:
- Jewellery, watches, unset gem stones, gold or silver articles, curios, furs and musical instruments.
The following items are limited to $2500 any one set or collection up to a maximum of $5000 in total:
- Collections - where a collection is defined as a group of individual items, which are of a similar type and which, when grouped together, take on a value greater than the sum of the individual items' values. Examples may be stamp, medal and coin collections.
If you would like any such items covered for more than the specified limits, you will need to tell us about them and give their values. If we agree to provide cover we will list them on your certificate of insurance. An additional premium may be payable and we may require written valuation/s from a recognised expert.
I am upgrading the security on my property, do I have to advise TIO?
If you are changing the security on your property, you should inform us, as it may change the conditions of your insurance. You may eligible to receive a discount.
Got a question we haven't covered?
Send us a request for information, and one of our insurance experts will get back to you. Alternatively you can call us on 1300 301833 during business hours or visit your nearest TIO branch.