Home & Contents Insurance

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We all have our loved possessions; alongside many other things that make a house into a home. While some items are irreplaceable in our lives, there are many others that need to be replaced should the worst happen. From the TV to the couch and house itself, it all adds up and needs to be protected.

With First Option Home Cover you can rest easy knowing that in the case of an event such as fire or theft, your valuables old and new are covered.

Home Cover

Home Cover is First Option’s building, contents and valuables insurance solution that can protect any or all of these scenarios. Home Cover provides peace of mind that, if, through specific events, your property is damaged, destroyed or stolen, it can be repaired or replaced. And it will usually be on a “new-for-old” basis, regardless of the item’s age.

Home Cover Core Defined Events

Fire, Explosion, Lightning or thunderbolt, Earthquake or Tsunami, Theft, Vandalism, Water or other liquid, Collision, Falling tree, branch or aerial, Damage by animals, Riot, Storm, Rain or Flood, Accidental Glass Breakage.

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Home Cover Prestige

Home Cover Prestige provides cover in addition to the specific events listed above, as it also protects you against power surge, malicious damage and accidental loss or damage to home and contents at the insured address. Plus it provides extended cover for your contents when temporarily removed anywhere in Australia and New Zealand, or for up to 90 days when overseas.

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  A Selection of Benefits - Comparison Summary

Additional Benefits

Home Cover

Home Prestige

Building Sum Insured Safeguard

Up to 30% more than your sum insured

Up to 30% more than your sum insured

Environment Upgrades to your Building

$2,500

$2,500

Environmental upgrades to your contents

$500 per item up to a maximum of $2,500

$500 per item up to a maximum of $2,500

Accommodation costs

12 months or 10% of the building sum insured

10% of the building sum insured

Contracting purchaser

n/a

Inflation adjustment

Mortgage discharge

Extra costs of reinstatement

Legal defence costs

$2,500

$5,000

Taxation audit

$2,500

$5,000

Fusion

$2,000

Reasonable costs

Forced evacuation

60 days

60 days

Trees, shrubs and plants

$1,500 in total

$3,000 in total

Locks

$2,500

$2,500

Essential temporary repairs

$500 for repairs to your building and $200 for repairs to your contents

$500

Compensation for death

$5,000

$10,000

Building materials

$2,000

$2,000

Building costs

Cover when you move sites

30 days

30 days

Contents being conveyed to new residence

n/a

Food spoilage

$500

Reasonable costs

Accessories, appliance or spare parts

$1,000 per item up to $2,000 in total

$1,000 per item up to $2,000 in total

Guest's property

$5,000

$10,000

Contents temporarily removed

Yes - limited

Yes - worldwide

Credit card

$2,500

$5,000

Veterinary expenses

$500

$750

Identity theft

$5,000

$5,000

Monitored alarm attendance

$1,000

$1,250

Replacement of documentation

$1,000

$1,000

Fixtures and fittings

Optional Benefits

Home Cover

Home Cover Prestige

Domestic Workers Compensation (some states)#

- Optional

- Optional

Extended cover for contents in storage

- Optional

Automatically covered (under contents temporarily removed benefit)

A range of ways to save

With First Option there are various ways to enjoy discounts on your premium.

  • Security discounts - The more secure your property is – through deadlocks, window locks, and either local or monitored alarms – the less you may have to pay.
  • Household no claim bonus - Continue to earn No Claim Bonus discount, up to our maximum level, the more years you go without making a claim.
  • Seniors discount - If any named Policyholders are over 50 years of age, you are entitled to the over 50s discount.
  • Multi-policy discount - Once you have one MemberCare insurance policy with us, we’ll give you a discount on each additional MemberCare policy**.
  • A choice of Excess - Your excess is the initial amount you have to pay yourself if you make a claim, and we offer options of nil excess, $100, $250, $300, $400, $500, $750, $1,000, $2,500, $5,000, $7,500 and $10,000. The higher the excess you choose, the lower the premium you’ll pay.
  • Retirees discount - If you’re retired and no longer working more than 20 hours a week your premium will reflect the lower-risk nature of your circumstances.

Easy to arrange, simple to claim

The convenience of having Home Insurance under the same roof as your financial services isn’t the only way we make life easier. From making your application to making a claim, First Option ensures things are as straightforward as possible. You can apply online, by phone, or at any branch. Flexible payment options include fortnightly, monthly or annual direct debit or credit card payments (excluding Diners Club). If you do need to make a claim, we won’t make you wade through paperwork. QBE have a 24-hour emergency claims number, and in most cases, you need just provide details over the phone. The QBE Claims number is 1300 734 728.

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Important Notes

Terms, conditions and acceptance criteria apply. Cover limits apply as set out in the policy wording. This material does not take into account your personal needs, objectives and financial circumstances and you should consider whether it is appropriate for you. Please read the Product Disclosure Statement to decide if a product is right for you. *Available in ACT, TAS & WA only for an additional cost ** Multi-policy discount is available on your first policy after renewal and is only available for Home, Landlords and Motor Vehicle policies that are purchased through the same financial institution Insurance issued by QBE Insurance (Australia) Limited ABN 78 003 191 035 AFS Licence 239 545.