Contents Insurance
Cover for loss or damage caused by flood, fire, storm, theft and more. Contents Insurance helps you get back on your feet if your personal belongings are lost or damaged.
Important notice for our customers
Westpac Group has announced an agreement with Allianz to continue to help us provide our customers with general insurance products.
If you are an existing Bank of Melbourne insurance customer, you may be wondering what this means for you. Our agreement with Allianz means we will be able to continue to support our customers with their insurance needs and there is no change to your current Bank of Melbourne insurance policy or any claim that may be in progress as a result of this announcement. See our FAQs to learn more.
Outstanding Value Contents Insurance
This year, Bank of Melbourne has been awarded Canstar’s 5-Star Rating for Outstanding Value Contents Insurance for the third year in a row!
See our awards.
All covers include
Damage from flood, storms1, earthquake, lightning, fire1, impact, explosion
Up to $20 million in legal liability for compensation for injuries to visitors and damage to their property
Automatic safety net in case repair or replacement costs are higher than expected2
Theft3, riot, civil commotion and malicious acts
New for old replacement on contents, irrespective of age, where an item cannot be repaired
Emergency accommodation if your home becomes unliveable4
Choose from 3 levels of cover
Essential Care
Safety Net
Up to 5% of sum insured
Emergency Accommodation
Up to $5,000
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Cover Limits
- Jewellery and Watches: Up to $500 per item/$3,000 total per claim
- Artworks, collections and collectables: Up to $3,000 in total
- Sporting equipment: Up to $2,000 in total
- Bicycles: Up to $1,000 in total
Other limits and exclusions apply.
Quality Care
Safety Net
Up to 10% of sum insured
Emergency Accommodation
Up to 12 months or 10% of the sum insured (whichever is less)
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Cover Limits
- Jewellery and Watches: Up to $1,000 per item/$5,000 total per claim
- Artworks, collections and collectables: Up to $10,000 in total
- Sporting equipment: No limit
- Bicycles: Up to $1,500 in total
- Rainwater tanks and solar heating: Up to $3,000 in total
Other limits and exclusions apply.
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Extra Benefits
✓ Accidental breakage of glass
✓ Electrical motor burnout
Limits and exclusions apply.
Premier Care
Safety Net
Up to 20% of sum insured
Emergency Accommodation
Up to 12 months or 10% of the sum insured (whichever is less)
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Cover Limits
- Jewellery and Watches: Up to $5,000 per item/$20,000 total per claim
- Artworks, collections and collectables: Up to $20,000 in total
- Sporting equipment: No limit
- Bicycles: Up to $2,000 in total
- Rainwater tanks and solar heating: Up to $5,000 in total
Other limits and exclusions apply.
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Extra Benefits
✓ Accidental breakage of glass
✓ Electrical motor burnout
✓ Accidental loss to contents
✓ Accidental damage to contents
Limits and exclusions apply.
In general, damage or loss caused by wear and tear or failing to maintain your property are not covered under Contents Insurance.
Take a look at the Home and Contents Insurance Product Disclosure Statement (PDF 1MB) for the full details of how you are covered and policy exclusions and limits.
Do you have valuables that need extra cover?
Our policies allow you to add in higher limits for artworks, collections and collectables.
We also offer optional personal valuables5 cover for jewellery, watches, handbags and laptops at home and anywhere in Australia, or worldwide for up to 90 days.
Frequently asked questions
What is Contents Insurance?
Contents Insurance covers your household items and personal belongings if they are damaged, lost or stolen in an unforeseen event. This can include your furniture, clothes, computer, fridge, washing machine, television, tools, art and jewellery. If you own your home, you can save an additional 10% when you combine Bank of Melbourne building and contents insurance at the same address under the one policy.
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What is a sum insured amount?
When applying for Contents Insurance you'll be asked to nominate a 'sum insured' which is the reasonable costs to replace items with new items of the same size and type. This amount is shown on your Policy Schedule.
You choose a sum insured for your:
- Contents
- Any individual contents items you list
- Any specified valuables you list
- Choose your unspecified valuable sum insured from a range of options.
No matter what your sum insured, there’s a cover limit for a few contents items.
You can apply to change your sum insured any time, to ensure you remain adequately covered. We recommend reviewing your cover regularly, to take into account things like increases in the replacement value of your belongings, and new purchases and gifts.
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How do I save on Contents Insurance?
There's no extra fee to pay monthly^, and you can save on your premium if you qualify for one or more of these discounts:
- Combined policy discounts: Building & Contents
- No claim discount
- Having an Advantage Package home loan
Generally speaking, here's how your choices may affect your premium:
- Choosing a voluntary claim excess. The higher the voluntary claim excess chosen, the lower your premium: you can choose a voluntary excess from $100, $250, $500, $1,000, $2,000, $5,000
- Choosing a lower level of cover e.g. the premium for Quality Care is less than Premier Care
- Your home security features:
- Deadlocks, key operated window locks, security grills or bar
- Local or back-to-base alarm.
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Do I get a no claim discount on my policy?
You may be eligible to receive a no claim discount on your premium. If we agree to pay a claim, this discount will be reduced or removed at your next renewal date. If you’re eligible for a no claim discount at a subsequent renewal date, it will be reinstated.
Important Information
Before making a decision, please read these documents to ensure you’re aware of all fees and charges.
Contents Calculator
Are you insured for the right amount? Use the Contents Calculator to get an accurate estimate on what it will cost to replace your belongings. You will receive a downloadable report which is handy to receive an accurate quote.
Top tip: If your valuables fall outside the standard cover limits, you can choose the value of your special items in the quote form.
The Building and Contents calculators available through our websites are intended as a guide only.
Offer & Benefits
Save 15% online*
Quote and buy online to save 15% off your annual premium for the first year with promotional code COVER.*
Payment Flexibility
You can pay for your cover monthly or yearly - whatever suits you.^
Simple claims process
24/7 claims support available online and over the phone, we're there for you when you need us. One of our dedicated Australian claims managers will call you back if we have further questions.
The Detail
Cover is subject to your application for insurance being accepted.
Key Facts Sheets (KFS):
Home Building Essential Care KFS (PDF 311KB)
Home Contents Essential Care KFS (PDF 335KB)
Home Building Quality Care KFS (PDF 311KB)
Home Contents Quality Care KFS (PDF 336KB)
Product Disclosure Statements (PDS)
Home and Contents Insurance Product Disclosure Statement and Supplementary Product Disclosure Statement (PDF 1MB) (applicable to policies issued or renewed on or after 1 July 2019)
Home and Contents Insurance Product Disclosure Statement and Supplementary Product Disclosure Statement (PDF 1MB) (applicable to policies initially issued in the period between 30 June 2018 and 30 June 2019; or renewed in the period between 30 July 2018 and 30 June 2019)
This information does not take your personal objectives, circumstances or needs into account. Read the relevant PDS(s) to see if this insurance is right for you.
* Quote and buy online and save 15% off your annual premium for the first year with promotional code COVER. Plus, save 10% when you combine building and contents at the same address under the one policy.
^ Premiums payable by instalments may be subject to minor adjustments due to rounding, and financial institution transaction fees may apply.
1 Under Essential cover Storm cover excludes damage to gates, fences, and freestanding walls. Fire cover excludes damage caused by smoke where there was no flame at the site
2 Safety net of between 5% and 20% of your sum insured, depending on your type of cover.
3 Under Essential cover, theft is only covered if the theft occurs from inside a fully enclosed locked building and only where there is evidence of forced entry. Under Quality cover, theft is covered if the theft occurs from a fully enclosed and lockable building at the site, and for up to $2,000 in the open air.
4 If your home is unliveable we will cover up to $5,000 (Essential Care) or up to 10% of the sum insured for up to 12 months (under Quality or Premier Care) for similar alternative accommodation.
5 For holiday homes not all cover options are available. Building and Contents cover is available provided the home isn’t rented out to others. Choose from Essential Care and Quality Care (but not Premier Care). Optional Personal Valuables cover is not available.
Home and Contents Insurance is issued by Westpac General Insurance Limited ABN 99 003 719 319 (except workers compensation cover where applicable). Bank of Melbourne – a Division of Westpac Banking Corporation ABN 33 007 457 141 (the Bank) distributes the insurance, but does not guarantee the insurance.