Insurance in Western Australia
Australian insurance is very similar to other countries insurance industries and cover is readily available for property, home contents and rental properties. There are many different types of policies, excesses and levels of cover. Any item over a certain amount of value would normally need to be listed - jewellery or high value paintings for instance.
Insurance Policies
You can choose an old for new type policy or a policy which makes allowance for wear and tear. Insurance companies also have cover for motor burnout or electrical fusion i.e. an accidental damage instance. Try to ensure you get a good reputable insurance company - one that is able to pay out should things go wrong!
House Insurance
When buying your own home, the lender will require building insurance to be in place prior to the mortgage being agreed. Quite often the lender will want you to take cover out with an insurance company they approve or recommend or one that is part of their group of companies.
Be Aware of Insurance Loopholes
Insurance companies will refuse insurance cover should you have been convicted and have a criminal record even for a minor offence. They will normally insist that 10 years will have elapsed since the conviction.
Request a policy booklet and written quote before committing yourself to purchasing a policy.
Read and understand all the clauses and how they may affect any claim you might have.
Be aware that the premium is subject to GST and some premiums are also subject to stamp duty.
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