Protecting Your Perth Property: Insurance

Jun 27, 2024 insurance


Owning a home in Perth, Western Australia, is a dream for many. But with that dream comes the responsibility of protecting your investment. Home insurance is crucial for safeguarding your property against unforeseen events like fire, theft, or weather damage. This article delves into insurance, a provider specifically catering to Perth residents.

What is Insurance?

It is a home insurance product designed for Perth homeowners. It’s important to clarify that it’s not directly affiliated with Open House Perth, a non-profit organization showcasing Perth’s architecture.

Here’s a breakdown of key terms:

  • Home insurance: A financial contract between a homeowner and an insurance company. In exchange for a premium (regular payment), the insurance company agrees to cover the cost of repairs or replacements if your home is damaged or destroyed by covered events.
  • Premium: The amount of money you pay to the insurance company for your coverage.
  • Coverage: The specific events or situations your insurance policy protects against.

What Makes it Unique?

it stands out by offering a customizable approach. Unlike traditional policies with pre-defined coverage levels, allows you to build your own plan. This means you can choose the specific protections you need for your home and budget.

Here’s how customization works:

  • Modular coverage options: You select individual coverage modules like building insurance, contents insurance, or liability protection. This lets you tailor your policy to your priorities.
  • Flexibility: You can adjust the level of coverage for each module. For example, you might choose a higher level of coverage for your valuables and a lower level for contents.


  • Customization: Build a policy that reflects your specific needs and budget.
  • Potential cost savings: By only paying for the coverage you need, you might save compared to pre-defined plans.
  • Control: You have more control over what’s covered and the level of protection.

Potential Drawbacks of Insurance

  • Complexity: Choosing individual modules might feel more complex than pre-defined packages.
  • Missing coverage: You might unintentionally miss essential coverage by not selecting the right modules.
  • Limited comparisons: With a customized plan, it’s harder to directly compare prices with other insurers.

What Does it Cover?

Here are some common coverage modules offered by insurance:

  • Building insurance: Protects the structure of your home against damage from fire, storm, theft, vandalism, and other covered events.
  • Contents insurance: Covers your personal belongings inside the home if they’re damaged or stolen.
  • Liability protection: Covers you financially if someone gets injured on your property and sues you.
  • Additional living expenses: Covers extra costs like hotel stays if your home becomes uninhabitable due to a covered event.
  • Optional coverages: You might be able to add extras like flood insurance or accidental damage coverage.

Understanding Coverage Limits and Exclusions

  • Coverage limits: The maximum amount the insurance company will pay for a covered event.
  • Exclusions: Events or situations not covered by your policy.

It’s crucial to understand your policy’s coverage limits and exclusions before purchasing insurance. should provide detailed information on these aspects in their policy documents.

How Much Does Insurance Cost?

The cost of your insurance will depend on several factors, including:

  • The value of your home and contents
  • The level of coverage you choose for each module
  • Your deductible (the amount you pay out of pocket before the insurance kicks in)
  • Your claims history (if you’ve made previous claims, your premium might be higher)
  • Your location (homes in high-risk areas for certain events might have higher premiums)

Getting a Quote from Insurance might offer online quote tools or require contacting them directly for a quote. During the quoting process, be prepared to provide details about your home, its contents, and your desired coverage.

Here are some questions to consider asking:

  • What are the different coverage modules available?
  • What are the coverage limits for each module?
  • Are there any discounts available?
  • What is the claims process like?


Is insurance cheaper than other options?

It’s potential cost-effectiveness depends on your specific needs. By only paying for the coverage you need, it could be cheaper than pre-defined plans with unnecessary coverages. However, it’s important to compare quotes from and other insurers to determine the best value.

Is building and content insurance mandatory in my policy?

Building insurance is typically required by mortgage lenders if you have one. Content insurance is optional, but highly recommended to protect your belongings.

What happens if I don’t understand a coverage module? should provide clear explanations of each coverage module in their policy documents or on their website. Additionally, their customer service team should be able to answer your questions and help you choose the right modules.

Can I make changes to my insurance policy after I purchase it?

Most insurance policies allow changes to be made mid-term, though there might be associated fees or adjustments to your premium. Contact to inquire about their policy change procedures.

Conclusion insurance offers a customizable approach to home insurance for Perth residents. By allowing you to build your own policy, it provides the flexibility to match your specific needs and budget. However, the responsibility of choosing the right coverage modules falls on you. Carefully consider your requirements, understand the limitations of each module, and don’t hesitate to seek clarification from before finalizing your policy. By comparing quotes and making informed decisions, it can be a valuable tool for safeguarding your Perth property. Remember, homeowner’s insurance provides peace of mind, knowing you’re financially protected against unexpected events.

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