Homeowners Insurance
Cover for your home and the things you love, with optional complimentary smart sensors to help reduce risk.
Save up to 8% on your premium with sensors*
Receive complimentary smart home sensors (worth $250) that can alert you to avoidable mishaps like fire, water damage and theft. All you need is WiFi, a smartphone and active sensors to be rewarded up to 8% off your premium every year*.
What can the sensors detect?
Sensors will automatically alert you when something may be wrong with a notification to your smartphone:
- Water leaks
- Open doors and windows
- Temperature changes
- Sounding alarm
- Mould risk
Summary of benefits
Highlights of our home and contents cover
Flood, fire or storm
If your home is destroyed by the weather, we’ll cover reconstruction and replace your eligible contents.
Rebuilding your home
On top of your sum insured, we’ll cover up to 20% of demolition fees and 10% of redesign fees.
Home office
Cover for eligible damage to your equipment with up to $5,000 of new home office cover.
Theft or vandalism
Get covered for the cost of replacing eligible stolen or vandalised contents with new ones.
Water damage
If your home and contents are damaged by water, you're covered for the clean up and repair costs.
New for old
Cover for the replacement of eligible contents at their current value (not its depreciated value).
Temporary accommodation
When you have to evacuate, find a place to live for 12 months or up to 10% of your sum insured.
Liability and legal protection
If a visitor gets hurt in your home, we cover for medical expenses or the cost of a lawsuit.
Counselling services
Be covered with access to counselling services via pre-approved practitioners.
Optional cover
Extra cover you can add to your policy
Accidental damage
Cover for eligible damage or loss to your home and/or contents due to an accident/event that occurred at home.
Mobile phones
Keep connected with cover for lost or damaged mobile phones up to the agreed sum insured.
Individual items
Extra protection for your most valuable items that goes beyond your included contents cover.
Small business
Cover for eligible contents damaged on-prem or stock used to run your small business – up to $20,000.
Away from home
Cover for your eligible contents when you’re on the move anywhere in Australia and New Zealand.
Motor burnout
Repair or replacement for the burnout of electric motors in appliances under 10 years old.
This is a brief summary only. Conditions, limits and exclusions apply. Full details are contained in the Product Disclosure Statement{external-link} (PDS).
Preventing accidents with smart sensors
Opt-in for sensors
Opt in for sensors when you take out home and contents insurance.
Install Sensors
Easily install sensors around your home in just a few minutes.
Get alerts
Get alerted on your smart phone when an event is triggered.
Claims, anytime anywhere
Some claims can’t wait. Make a claim online anytime and our claims team will be ready to support you.
Frequently asked questions
What is homeowners insurance and why is it important?
What am I covered for?
How much should I insure my home for?
We aren’t able to provide you with advice on the replacement costs of your home or how much to insure it for. Instead, we use the information you give us and data sourced from third parties to suggest an amount of cover you should have. You should use this suggestion as a guide only.
When considering how much you should insure your home for – often referred to as the sum insured – you should include the full cost to rebuild your home, including the cost of structural improvements on the property. But don’t include land value. You should also consider increased costs due to major clearance, as well as professional fees. You should also include or increase the replacement cost to more accurately reflect your rebuild cost if you’ve completed renovations, hired a builder or added extensions.
We recommend that you use a home building calculator to determine independently an appropriate sum insured for your needs, which you can then compare to the guide provided by us during your quote.
How is my premium calculated?
Your premium is based on a number of things, including:
- What you choose to insure and how much you choose to insure it for
- Where your home is and risk information specific to your location (e.g. the likelihood of a flood, cyclone or bushfire, or crime rates in your suburb)
- Features specific to your home (e.g. building materials, the age of the building, and security features)
- The excess amount you have chosen
- Your age
In most cases, the higher the risk of loss or damage, the higher the insurance premium. The chance of loss or damage is different for everyone, so we calculate your premium based on your individual circumstances.
Can I get building insurance if my home is under strata title?
Useful links
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Important information
* The Smart Home Program discount will be applied to your premium if you install and keep the smart home sensor kit operational. Each month we will assess your ongoing eligibility for the Honey Smart Home Program discount, based on your sensors being active. Where your sensors are not active, we may choose to remove your discount for the remaining period of insurance. Please refer to the PDS for full terms and conditions.
The Virgin Money Insurance suite of products is distributed by Honey Insurance Pty Ltd ABN 52 643 672 628, AFSL 528 244 and issued by RACQ Insurance Limited ABN 50 009 704 152, AFSL 233 082. Conditions, limits and exclusions apply.
Virgin Money Australia is a division of Bank of Queensland Limited ABN 32 009 656 740 AFSL 244616 (Virgin Money). Virgin Money and its related bodies corporate do not guarantee or otherwise support the issuers of the insurance, nor the insurance products.
Any advice is general advice only and does not take into account your personal objectives, financial situation or needs and may not be right for you. You should read the relevant PDS, any applicable SPDS and TMD available at insurance.virginmoney.com.au/documents before making any decision.
If you purchase a general insurance product, Virgin Money is paid a commission which is a percentage of your premium. Details are provided in the Virgin Money Financial Services Guide by clicking here.
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