What does Contents Insurance cover?
Contents insurance protects the belongings you have at the insured address: from your furniture and appliances to your BBQ and even your clothes, shoes and handbags. So, if any of the insured events happen during the period of insurance, we’ll generally pay to repair or replace your contents – up to the policy limits.
What you’re covered for
Cover when you’re moving house
Bank of Melbourne will cover your contents for loss or damage caused by an insured event both at your new and old address for up to 14 days after you first start to move. No cover is provided for loss or damage whilst contents are in transit (unless you have Accidental damage cover).
Cover for your contents intended to be kept outside
Cover for contents intended to be kept outside, like your barbeque, outdoor furniture and children’s play equipment up to $2,000 in total.
Emergency contents storage
If your home building is damaged by an insured event and is unable to be lived in, Bank of Melbourne will pay to move and store your contents for up to 12 months.
Food or medicine spoilage
If your refrigerator or freezer breaks down and you lose your perishable food or medicine as a result, Bank of Melbourne will pay for you to replace it. If you claim for this benefit, excess will apply. If the spoilage is due to a natural disaster (declared by Bank of Melbourne, the government or the Insurance Council of Australia) the maximum Bank of Melbourne will pay is $500. No excess will apply.
What’s not covered
Wear and tear
Wear and tear including depreciation, gradual deterioration, wear and tear or lack of maintenance.
Defects
Inherent defects including faulty design or materials, structural defects or poor workmanship.
Illegal contents
Illegal contents or personal effects which are acquired illegally or are illegally held.
Soil movement
Soil movement including erosion, landslide, mudslide or subsidence unless it is directly caused by and occurs within 72 hours of an explosion, earthquake, tsunami, storm or flood.
For full details, of the terms, conditions, limits and exclusions that apply please read the Product Disclosure Statement (PDS) (PDF 995KB), the Premium, Excess, Discount and Options Guide (PED) (PDF 232KB) and the Home Building and Home Contents Key Fact Sheets (KFS) before making a decision to purchase the insurance.
Optional Cover
Special offer
New policy online discount
Save up to 10% off your first year’s premiums when you buy online. 1 & 2
Why Bank of Melbourne Insurance?
We’re here with you every step of the way
1. Get a quote online
Get a fast quote online. You can also buy over the phone or in branch with one of our friendly consultants.
2. Check or change your policy
We are here to help with your insurance needs. We also have optional cover to give you a greater flexibility of cover. Talk to us on 13 22 66.
3. Make a claim
You can also lodge a claim online and get instant lodgement confirmation. How to make a claim.
Frequently asked questions
If you buy Bank of Melbourne Home and Contents Insurance, your insurer will be Allianz Australia Insurance Limited. This means if you need to make a claim, Allianz will be there for you to help you get back on track as soon as possible. For more information about our distribution arrangement with Allianz, see the disclaimer below and our Financial Services Guide (PDF 246KB).
Insurance Calculators
It’s up to you to decide the sums insured, and the type and level of cover that you want to take out. People generally want enough insurance to cover the property’s estimated replacement value. It’s important to have the right amount of insurance to cover the cost of replacing your home contents in today’s dollars if the unexpected happens. If you don’t have enough, you may have to cover some of the cost yourself and if you have too much, you may only be paid an amount that covers your loss. That's why we've provided these calculators. They work as guides to help you estimate the replacement value of your home contents. ^
Insurance purchased prior to 12 December 2021 (no longer for sale)
If you purchased your Insurance before 12 December 2021, here’s where you can find more information about your policy.
The Detail
1. Online discount When you buy a new home insurance policy online a discount of up to 10% is automatically applied to your first year’s premium including for Flood, and the following optional covers (if selected); Accidental damage, Motor Burnout and Portable Contents. This discount is not applied on renewal.
2. Minimum premiums If you are eligible for more than one discount, Allianz applies them in a predetermined order. This means any subsequent discount will be applied to the reduced premium amount after applying any prior discounts and the effect of the subsequent discount will be reduced. For example, the aggregate effect of applying two 10% discounts consecutively means that you will not see the full benefit of both these discounts. Discounts do not apply to taxes or government charges. Discounts do not apply to optional covers for Domestic workers’ compensation (if available and selected). Any discounts/entitlements may be subject to rounding and may only apply to the extent that any minimum premium is not reached.
3. Instalment premiums If you choose to pay your premium by instalments you do not pay us any more than if you pay your premium in one lump sum annually. The premiums payable by instalments may be subject to minor adjustments (upwards or downwards) due to rounding. Note: Your financial institution may apply transaction fees to instalment payments.
5. Only primary policyholders can see policies alongside their other Bank of Melbourne accounts.
Bank of Melbourne – A Division of Westpac Banking Corporation ABN 33 007 457 141 (the Bank) can arrange the following insurance but does not guarantee it.
Product Disclosure Statements (PDS)
Home and Contents Insurance Product Disclosure Statement (PDF 995KB) (applicable to policies issued on or after 12 December 2021 or renewed on or after 22 November 2021)
For the standard terms, conditions and exclusions about our Home & Landlord Insurance, please refer to the relevant Product Disclosure Statement (PDS) and any supplementary PDS (if applicable), and the Premium, Excess, Discount and Options Guide (PED) (PDF 232KB). To see some of the events covered and not covered, please refer to our Key Fact Sheets (KFS).
Home and Contents Insurance is issued by Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 (Allianz). Bank of Melbourne - a Division of Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714 (the Bank) arranges the insurance under a distribution agreement with Allianz Insurance, but does not guarantee the insurance. This information does not take into account your personal circumstances. Before making a decision, please consider the relevant Product Disclosure Statement. For more information call 13 22 66.
A target market determination has been made for this product. Please visit https://www.bankofmelbourne.com.au/tmd for the target market determination.
By clicking on Get a quote you will enter a third party site hosted by Allianz. Any personal information you provide to Allianz’s hosted site will be collected, used and disclosed in accordance with Allianz’s Privacy Statement and Privacy Policy.
Bank of Melbourne's Privacy Policy is available at bankofmelbourne.com.au or by calling 13 22 66. It covers:
- How you can access the personal information Bank of Melbourne holds about you and ask for it to be corrected;
- How you can complain about a breach of the Privacy Act 1988 (Cth) or a registered Code by Bank of Melbourne and how Bank of Melbourne will deal with your complaint; and
- How Bank of Melbourne collect, hold, use and disclose your personal information in more detail.