Buildings and Contents Insurance

1. Minimum premiums may apply

Any discounts/entitlements may be subject to rounding and only apply to the extent any minimum premium is not reached. If you are eligible for more than one, we also apply each of them in a predetermined order to the premium (excluding taxes and government charges) as reduced by any prior applied discounts/entitlements. Discounts may not be applied to the premium for any optional covers, including flood (where relevant).

2. 72 hour waiting period for loss or damage occurring from cyclones, storm surge or floods.

As the Territory is subject to catastrophic weather events, it is necessary for us to apply a 72 hour waiting period for loss or damage occurring from cyclones, storm surge or floods. This means if you arrange new insurance or make a mid-term alteration such as increase sums insured, you will not have cover for these events until 72 hours after purchase or alteration.

3. Temporary accommodation

If buildings become unfit to live in as a result of an insured event, we will cover up to 12 months temporary accommodation. The amount will be your actual loss and is limited to 10% of your buildings or contents sum insured specified on your schedule.

4. New for old replacement

At TIO's discretion and subject to availability of replacement item.