Page 189 - Australian House & Garden (January 2020)
P. 189
Christma
Property cash giveaway!
TA K E COV ER
12 issues of
Australian House
Home insurance can be expensive, so it pays to $ & Garden for
69.
99
understand what you’re buying, writes Harvey Grennan.
via automatic
renewal
ive in NSW? You could be paying a an address to discover the particular SAVE
lot more for home insurance than risks your insurance company 31%
Lthose in other states (assuming the attributes to that property. And be
risk factors are the same). Why? aware that while many policies include
Because more than half your bill is flood cover, some treat it as an extra. IONS
probably taxes – GST, stamp duty and, Or sometimes you can opt out. So back
increasingly, an ‘emergency services to the key question: how to get the
levy’. In other states, taxes make up best premium? Campbell Fuller,
about 20 per cent of the bill. For spokesman for the Insurance Council
homeowners in the ACT, GST is the only of Australia, offers these tips:
tax applied. It’s possible that this tax ✚ Shop around each year when you
slug is part of the reason 15-17 per cent receive your renewal notice. Be sure Give
of owner-occupiers in NSW don’t bother to compare coverage too. someone
to insure their home at all, compared to ✚ Opt for a higher excess amount in the you love the
perfect
a figure of 5 per cent nationally. event of a claim, which will reduce Christmas
In NSW, insurance companies are the premium. gift!
legally obliged to remind you of the ✚ Bundle home, car and any other
previous year’s bill when the next one policies with the same insurer to magazines
Over 300
hits, so you at least know if you’re obtain a discount. to choose
paying more or less. So how do you go ✚ Consider home improvements that from!
about payingaslittleaspossiblefor may reduce your premium. (For
yourhomeinsurance policy? We’ll advice see the MyHazards app.)
get to that, but first a few facts to Non-insurance among tenants is
demystify how the home-insurance chronic issue, adds Fuller. “The landlord
system works and the tools available is reponsible for insuring the building,
to help you navigate it. but two-thirds of tenants do not take
It is a common misconception that out insurance for their contents.” Subscribe for your chance
you ‘pay by postcode’ – that is, get For those who expect governments to win one of fi ve
ripped off if you live in an expensive to step in after a natural disaster such $10,000 cash prizes!
area. It’s a bit more complicated than as bushfire, cyclone or flooding, Fuller
that. Premiums are set by the degree of cautions that there would be only Win a share of $50,000 cash just by ordering
a subscription to any of our magazines. We
risk facing each property and insurance limited official relief. “The government have a huge range of popular magazines that
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As of June this year, you can access this policy when making improvements or do not Competition starts on 14/10/2019 and closes 27/01/2020 at 11:59pm.
information yourself on the MyHazards factor in higher rebuild standards if an area is The competition is open to all residents of Australia aged 18 years
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