Your home and belongings are some of your most important assets. And it only takes something like a flooded pipe to ruin your carpets and furniture, or a break-in to lose valuable items. So it pays to get the right protection. Here are five simple ways to help you choose home and contents insurance that will be there when you need it most.

1. Make sure you’re covered for whatever happens

   You’ve probably heard the stories about people who thought they were fully insured. But when a flood or bushfire destroyed their home, they found out that they weren’t covered for those events. Some insurers exclude certain events to offer cheaper insurance rates. But make sure that your insurance will be there when you need it — including for accidental damage, hailstorms, fire and flood.

2. Make sure you have enough to completely rebuild

   Some insurers ask you to estimate the cost of rebuilding your home, and that’s all they’ll pay you for. For most of us this is a hard thing to do — and could see you being left short of what you really need. To make sure you’re fully covered, look for insurance that pays the full cost of rebuilding, including clearing debris from the site before you build, plus architect and surveyor fees.

3. Insist on new for old replacement

   If your belongings are damaged or stolen, you want to be sure that you can afford to replace them. So it’s important to get new for old replacement on your policy. So, if your old television is damaged in a power surge, you can replace it with a new one. Without new for old replacement, you’ll only get the value of your old television, which could be far less.

4. Understand when your policy won’t pay out

   All insurance policies have exclusions — the things for which they won’t pay a claim. This isn’t to be tricky — it’s to help keep the costs of insurance down. It’s important to understand these exclusions up-front, so you know what you’re paying for. And they’re easy to find — just check the Product Disclosure Statement.

No matter how good a driver you are, it only takes a moment’s lapse — or bad luck — to do damage to your car. A hailstorm while you’re parked outside or a stone through the windscreen can put you at risk of expensive repairs.
So it’s important to get the right cover. Here are  easy tips to help make sure your car insurance measures up.

Get the right level of cover

There are two broad categories of cover you can choose from:

• Third Party Property and Damage pays if you damage someone else’s car — and you can often opt to add protection for your own car from fire and theft
• Comprehensive cover pays to repair or replace your own car if it’s damaged in an accident, or by natural events like hail or fire, or if it’s stolen

Within these two broad categories, there are various modifications that can be made to personalise the poilcy to protect you against risks that matter to you,

Get extra protection for new cars

When your car is new, it’s more special than ever. And a second-hand replacement won’t feel the same. So you might want to look for insurance that will replace your new car with a brand new car if it’s written off. This is subject to terms and conditions.

A holiday is one of life’s great pleasures. But when you’re away from home, it can be difficult — and expensive — if something goes wrong. A broken ankle while sightseeing in the US could not only ruin your trip, but leave you with hefty medical bills. And lost or delayed luggage — or a stolen camera — can mean you’re up for unexpected costs. Here’s how to help ensure that you get the right cover to travel with confidence:

1. Check if you already have cover

   Some credit cards offer travel insurance when you use them to pay for your trip — so check what’s already covered before you buy more. If you want cover for more activities or higher coverage with fewer exclusions, it may be worth taking out a separate policy before you leave.

2. Consider your destination

   Where you plan to travel will influence the cover that you need. When travelling to countries with limited hospital facilities, consider policies that will bring you home for medical help. Or look for higher benefits for expensive destinations, like Europe and the US. Most policies exclude cover for countries with a Department of Foreign Affairs and Trade (DFAT) ‘do not travel’ warning — visit smartraveller.gov.au before you go.

3. Look for unlimited medical and dental benefits

   If you need medical help overseas — or assistance with emergency dental treatment or repairs — you don’t want to be worried about the cost. So it makes sense to choose a policy you can count on to cover all your expenses — so you can get the treatment you need.

1. Get enough cancellation cover

   Sometimes an unforseen event can wreak havoc with your holiday plans. You may break a leg before a hiking trip, or the illness or death of a close relative may mean you have to cancel or cut short your trip. While most policies offer cancellation cover, they may have limits on how much they’ll pay — and when they’ll pay it. You should also check if there’s a benefit to help restart your trip later on.

2. Think about your activities

   Most travel insurance won’t cover high-risk activities, like professional racing, rock-climbing or mountaineering, or running with the bulls. But a surprising number also won’t cover common holiday activities — like white-water rafting, ballooning, snow sports, bungee jumping and scuba diving. So if your plans include taking part in a few extra activities, make sure that your insurance will protect you if something goes wrong.