We go to the doctor for health checks and we take our car to a mechanic for servicing, but do we pay the same sort of attention to our insurances? The truth is that many of us don’t, which can easily leave us under-insured. With 2020 in full swing, it’s a great time to consider a home insurance check-up to ensure that your policy is still ticking all of the boxes.
Know your true worth
Many of us set and forget our insurance policies, which means we often don’t increase the value of our home when we renovate, refurbish or make big-ticket purchases. That’s why it’s important to regularly assess your cover to make sure that you’re not under-insured. Consider any improvements or purchases you’ve made over the last 12 months and factor this into the increased value of your home and contents.
Explore your home in detail
Keep a record of your assets by recording the price and estimated replacement costs. If you can, try to keep receipts and take photos of your contents and store that information in a secure location. This is particularly important if you have any unique items at home such as art, antiques or collectables.
The bottom line
Insurance can sometimes be daunting, but your insurer should be happy to demystify the language, explain the policy limits and what is covered. Remember, most policies offer a variety of optional extras so it’s worth contacting your insurer and evaluating which options best suit you and your family’s needs.
Ready for an insurance check-up?
Visit movebank.com.au/insuranceoffer or contact us on 1300 362 216 to get started!
This blog post is for general information purposes only and is not intended as financial or professional advice. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product or other professional advice. You should seek your own independent financial, legal and taxation advice before making any decision about any action in relation to the material in this article. Railways Credit Union Limited trading as MOVE Bank ABN 91 087 651 090. AFSL/ Australian Credit License number 234 536 | ABN 91 087 651
Insurance is issued by Insurance Australia Limited ABN 11 000 016 722 AFSL 227681 trading as CGU Insurance. Any advice is general and does not take into account your personal circumstance. Consider the Product Disclosure Statement, available on our website or by calling 1300 362 216, to see if the product is right for you. A Key Fact Sheet sets out some of the conditions, exclusions and limits in respect to this policy. You should read the PDS and all policy documentation for all the conditions, exclusions and limitations of this policy that limit or exclude cover. This blog post is for general information purposes only and is not intended as financial or professional advice. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product or other professional advice. You should seek your own independent financial, legal and taxation advice before making any decision about any action in relation to the material in this article. Railways Credit Union Limited trading as MOVE Bank ABN 91 087 651 090. AFSL/ Australian Credit License number 234 536 | ABN 91 087 651
