Is your home insurance policy up to date?

Couple going over their home insurance policy

David Toscano

Posted January 11, 2022

It’s important to check whether your current home insurance policy provides the level of protection you need.

Bushfires, floods, pandemics and lockdowns, violent storms and even earthquakes… if the past 24 months have taught Victorians anything, it’s that the next life curveball might just be around the corner. 
And with these curveballs come major implications for the things we own and treasure the most, such as our homes, key contents, and motor vehicles. 
In particular, the sudden transformation of Victorian homes to the principal place of work, education and entertainment due to the Covid-19 pandemic has made home insurance coverage even more essential for home owners, landlords and renters. 
“Home insurance helps to keep you safe, by protecting what’s important such as your home and contents, in case of an insured event like fire, storm or theft,” explains Kirsty Hayes, Head of Home Insurance at RACV. 
“It gives you peace of mind and confidence that if something unexpected does happen to you, you’re able to get back on your feet quickly.” 
“With our new ways of living, I encourage Victorians to think about home insurance with an increased level of urgency and regularity,” Hayes says.

Learn about different RACV Home Insurance policies and what they can do for you.

Don't forget the impact of milestones and renovations

Nowadays, with flexible and cost-effective home insurance policies available to Victorians, Hayes points out that it’s important to reflect regularly on whether your current policy provides the level of protection you need. 
“It’s important to ask yourself: Does my home insurance policy align with my current personal circumstances and living arrangements, the value of the things I own, and their importance to my life? 
“It’s easy to forget the impact of milestones such as getting engaged, a home renovation, or a new hobby or interest, and their implications on the coverage of your home insurance policy,” adds Hayes.  

The importance of home and contents insurance coverage in summer - where events such as bushfires and storms can occur - has never been more important, according to Hayes. 
“For most of us, our home is the biggest financial investment we make in life. And as we’ve discovered over the past 24 months, our homes and contents have never been more important to our overall health and wellbeing,” Hayes says. 
“The new year is a great opportunity to take stock of the things we own and the things we like to do and ensure that these things are properly accounted for on our home insurance policies.”

Let RACV help you with expert advice on your home insurance policy today. 
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Terms, conditions, exclusions and limits apply - see your PDS for details.  The information provided is general advice only. Before making any decisions, please consider your own circumstances and the Product Disclosure Statement and Target Market Determinations. For copies, visit  RACV Home Buildings and Contents Insurance, RACV Buildings Insurance, RACV Contents Insurance, RACV Landlord Insurance and RACV Renters Insurance are all issued by Insurance Manufacturers of Australia Pty Limited ABN 93 004 208 084 AFS Licence No. 227678. As a distributor, RACV Insurance Services Pty Ltd AFS Licence No. 230039 receives commission for each policy sold or renewed.