Mount Isa home and contents insurance
Home and contents insurance is one of those expenses that many people are tempted to avoid during the current cost of living crisis, but if you do, you’ll end up regretting that decision if you ever experience any property damage, loss or theft.
Understanding home and contents insurance
Mount Isa home insurance typically covers the structure of your home, including your walls, roof and fixtures, against damage caused by events such as storms, fires and vandalism.
Contents insurance protects your belongings within your home, such as furniture, appliances, electronics and personal items, against theft, damage or loss.
You can just get one type of insurance coverage or the other, or you can bundle both together in a home and contents insurance policy. Ideally, you should get enough cover to replace your home and its contents if an unfortunate and insurable event did happen.
The more cover you have, the more expensive your insurance premiums will be (and vice versa). You may be entitled to premium discounts if you have a home security system installed, a good claims history or other insurance policies with the same insurer (e.g. your car insurance).
Mount Isa home and contents insurance risks
Home and contents risks in Mount Isa include:
- Extreme Weather: We have a semi-arid climate with scorching summers and mild winters. Severe weather events in Mt Isa can include thunderstorms, flash floods and even cyclones. All these weather events can pose threats to your home and contents.
- Bushfire Risk: The dry conditions prevalent in outback Queensland increase the risk of bushfires in Mount Isa during the hot summer months. Even properties located within urban areas can be susceptible to bushfire damage.
- Remote Location: Mount Isa’s remote location means that access to repair services and supplies may be limited, potentially prolonging the time it takes to restore your property after a claim.
- Crime: Unfortunately, Mount Isa is a region with a comparatively high crime rate, including home break-ins.
Comprehensive Mount Isa home and contents coverage
Given the risks listed above, taking out comprehensive home and contents insurance coverage can be a smart move. Features to look for in your home and contents insurance policy include:
- Protection Against Natural Disasters: Comprehensive insurance policies typically cover a wide range of natural disasters, including storms, bushfires and cyclones, providing financial protection in the event of property damage.
- Replacement Cost Coverage: Opting for replacement cost coverage for both your home and its contents ensures that you’ll receive adequate compensation to repair or replace any damaged property with new items of equivalent value.
- Emergency Accommodation: If your home becomes uninhabitable due to an insured event, comprehensive insurance policies may cover the cost of temporary accommodation, providing you with peace of mind during the recovery process.
Tips for choosing your home and contents insurer
- Tip 1: Shop around for the best deal
Shop around and compare policies for value. Avoid just automatically renewing your coverage with the same insurer every year. Many insurers offer the best deals to new customers. Be prepared to switch insurers if you can find a better deal. - Tip 2: Make sure you get the right amount of coverage
Avoid taking out too little or too much coverage. If you don’t have enough cover, you won’t be protected in a worst-case scenario. And if you take out too much coverage, you’ll be paying more for your home and contents insurance than you need to.
The bottom line
Taking out the right amount of Mt Isa home and contents insurance cover at the best possible price will give you peace of mind.
About us
Jays Real Estate has been Mount Isa’s premier residential and commercial real estate agency since 1981.
If you’re thinking about buying, selling, renting or leasing any Mt Isa property, or you need your property professionally managed, then contact our team today for an obligation-free chat!
We’d be happy to provide you with advice and to answer any property questions you have.