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Fire & General Insurance – covering your home, car & personal items
Most people understand the necessity to insure against loss for assets such as their house, car, business or personal items such as home contents, boats, caravans or jewellery.
Ideally, whatever you value should be covered by some sort of insurance. Most items can be insured (each insurance company will have its own terms and conditions) if it has value and you wish to have some financial protection against its possible loss or damage.
An FSB4 adviser will be able to recommend insurance based on what your requirements are.
The specific events or circumstances covered will vary from policy to policy and your FSB4 adviser will explain this in more detail. However some things usually covered by general insurance include the risk of damage or loss caused by accidental damage, burglary and theft, fire, storm/flood/lightning strike, falling tree or aerial, impact by aircraft, vehicle or animal, and, in the case of travel insurance, medical expenses.
What am I covered against?
You should have enough insurance so that in the event of a claim arising from loss or damage, your insurance will help you return to the same position you were in before.
How much general insurance do you need?
You need to provide your insurer with an accurate account of all the belongings you wish to insure and choose the type of cover you want... indemnity value, which is the value at any given time, taking into account the age and condition of the item; or replacement value, which is the cost of fully repairing or replacing the item.
Some insurance companies provide checklists so you can compile a detailed list of all your belongings and their value. Be careful not to under-value as you won’t get enough in the event of a claim to replace what you had, but also be careful not to over-value items as you’ll pay higher than necessary premiums and insurance companies can easily find out the market value of items anyway.
Home Insurance - cover for your house, which may include permanent decks, fixtures and fittings, letterboxes, clothes lines and outbuildings and more.
Types of insurance policies you may need
Contents & Jewellery Insurance - cover for your personal belongings may include furniture, furnishings, appliances, clothes and valuables.
Car & Vehicle Insurance - cover for loss or accidental damage to your vehicle and/or damage you might cause to someone else’s vehicle (3 rd party insurance).
Travel Insurance - cover may include medical costs, baggage, transport delays, trip cancellation and rental vehicle excess while travelling overseas.
Rural Insurance - cover for your farm assets, livestock, vehicles, home, contents & boat.
Marine Insurance - cover for boats, jet skis etc
Arrange to see an FSB4 adviser who can give you detailed information about the different insurance available, find out your specific requirements, and make recommendations to suit you.
Fire & General Insurance form