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Home & Contents Insurance Frequently Asked Questions

Policy Information and Product Features

Getting a quote/Applying for insurance online

Buying and renewing your insurance policy

Claims Information

Safety and Security Information

General Information

Policy Information / Product Features

Am I covered for flood?

From 1 July 2008, all our current home and contents insurance policies will cover all types of flood caused by rain. This applies to customers who take out a new home and contents policy from the 1 July 2008 and to all existing customers who insure their home and contents with us.

For more information on flood cover:
Click here if you have Classic Home & Contents Insurance
Click here if you have 55UP Home & Contents Insurance
Click here if you have Platinum Home & Contents Insurance
Click here if you have Investor Home & Contents Insurance

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What are the basic eligibility criteria for our range of Home & Contents Insurance products?

Classic Home & Contents 55UP
Home & Contents		 Platinum
Home & Contents		 Investor
Home & Contents
Owner Occupied or Tenant Owner Occupied or Tenant Owner Occupied or Tenant Landlord
Up to 54 years of age 55 years of age or over Any age Any age
    Home Sums insured must be over $350,000 and/or Contents Sums insured must be over $120,000  
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Is loss or damage caused by a defect at the home covered under my policy?

Yes, but only if the defect was hidden and you were not aware of it. You cannot claim for the cost of fixing the defect, but you can claim for the loss or damage resulting from it.

However, if you know, or should reasonably have known about a structural or design fault at your home, we will not cover loss or damage that this defect causes.

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Are rented TVs, VCRs etc covered by my contents policy?

Yes, if they are rented under a signed rental agreement which makes you legally responsible for these items, then a Contents policy will insure these items for loss or damage.

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Are my carpets covered by my Home or my Contents Insurance?

Damage to carpets is covered under our Contents Insurance policy.

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Is my home covered while I am away on holidays?

Yes, your home is covered for up to 60* consecutive days. If you are going on holidays for more than 60* days and leaving your home unoccupied, you must notify us and obtain our consent for continuation of cover beyond 60 days.

If your home is going to be unoccupied for more than 60* days, we may:

* If you have a 55UP Home & Contents Insurance policy, this limit is extended to 90 days.

* If you have a Platinum Home & Contents Insurance policy, this limit is extended to 100 days.

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Why is the unoccupancy period limited to 60* days?

When a home is unoccupied, it becomes more exposed to the risk of loss or damage. According to our claims data, the most likely causes of loss or damage while the home is unoccupied are:

Because of the increased risk associated with you leaving your Home unoccupied, we will only provide cover for up to 60* days, unless otherwise agreed.

* For customers with 55UP Home & Contents Insurance, this limit is extended to 90 days.

* For customers with Platinum Home & Contents Insurance, this limit is extended to 100 days.

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Are my contents covered if I take them with me on holidays in Australia?

When your contents are insured, we will cover them for loss or damage caused by an "Insured Event" for up to 120* days if they are in:

When your contents are temporarily removed to anywhere else in Australia, we will cover them for fire damage for up to 120* days.

* For customers with 55UP Home & Contents Insurance, this limit is extended to 180 days. This Additional feature is not available with GIO Investor Home & Contents Insurance

* For customers with Platinum Home & Contents Insurance, this additional feature is covered as set out in the following table:

Platinum Cover in Different Locations
Elsewhere in Australia and New Zealand Elsewhere in the world (listed jewellery and watches* only)
Cover for most contents items anywhere in Australia and New Zealand for up to 185 days when they are temporarily away from the insured address. Cover for jewellery and watches listed under your policy when they are outside Australia and New Zealand for up to 100 days.
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What is NOT covered by my policy?

The relevant Product Disclosure Statement (PDS) and any Supplementary PDS (SPDS) for your policy contains detailed information regarding what is not covered for each insured event, additional feature and optional cover.

Please click on one of the following links to access your PDS and any SPDS:

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Are there limits on the amount I can claim on my Home Insurance policy?

The most we will pay for Home Insurance claims is detailed in table below:

Fixed limits apply to: Limit for any one insured incident
Classic / 55UP / Investor
Home & Contents		 Platinum
Home & Contents
Unfixed home building materials and uninstalled home fittings
(Eg. Tiles stored in the shed or an oven that is not yet installed)		 up to $500 in total up to $2,000 in total
Fencing Up to 2 Kilometres Up to 2 Kilometres
Bitument surfaced driveway or roadway Up to 500 metres Up to 500 metres
Additional features or options Please refer to the PDS for limits on additional features and optional covers Please refer to the PDS (PDF, 560KB) for limits on additional features and optional covers
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Are there limits on the amount I can claim on my Contents Insurance policy?

The most we will pay for Contents Insurance claims is detailed in table below:

Items that cannot be increased by listing items on your policy

Fixed Limits apply to Limit for any one insured incident
Classic / 55UP
Home & Contents		 Platinum
Home & Contents		 Investor
Home & Contents
Home office equipment up to $10,000 in total up to $20,000 in total Not covered
Tools of trade up to $1,000 in total up to $5,000 in total Not covered
Refrigerated or frozen food and medicines up to $500 in total up to $2,000 in total Not covered
Uncut and unset gems, gold or silver nuggets and ingots (not jewellery) up to $500 in total up to $1,000 in total Not covered
Cash, smart cards, phone cards, and documents able to be cashed up to $300 in total up to $500 in total Not covered
**Carpets or rugs that are hand-woven Covered under Flexible Limits Covered under Flexible Limits up to $2,000 each carpet or rug
**Paintings, pictures, works of art, sculptures and art objects Covered under Flexible Limits Covered under Flexible Limits up to $2,000 for each item or set, but no more than a total of $10,000
Additional features or options Please refer to the PDS for limits on additional features and optional covers Please refer to the PDS (PDF, 560KB) for limits on additional features and optional covers Please refer to the PDS for limits on additional features and optional covers
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Items with flexible limits and the limits can be increased.

Flexible limits apply to: Limit for any one insured incident
Classic / 55UP
Home & Contents		 Platinum
Home & Contents		 Investor
Home & Contents
  Essential Limits Essential Plus  
**Jewellery and watches up to $1,000 for each item or set, but not more than a total of $4,000 up to $5,000 for each item or set, but not more than $20,000 in total up to $10,000 for each item or set, but not more than $40,000 in total Not covered
**CDs, DVDs, audio and video tapes, records, computer discs, computer software, game cartridges and consoles up to $5,000 in total Covered up to the sum insured for contents Not covered
**Silver and gold items, items plated with silver or gold (unless limited elsewhere in 'Contents limits') up to $2,000 each item or set up to $50,000 in total up to $100,000 in total Not covered
**Stamps, stamp collections, collector's pins, medals and collector's non-negotiable currency up to $2,000 in total up to $25,000 in total up to $50,000 in total Not covered
**Collections or memorabilia up to $2,000 in total up to $25,000 in total*** up to $50,000 in total*** Not covered

** You can insure these Contents items for more by listing each item for its full replacement value on your Certificate of Insurance. You can do this if you:

We will tell you if extra home security is needed in the Home before we will accept cover for any item.

*** Please note that under Platinum Home & Contents wine is not a 'collection' and has no special limit.

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What does new for old replacement mean?

If your home is damaged beyond repair or your belongings are damaged beyond repair or stolen, GIO will replace your home and contents new for old, regardless of their age. We can arrange replacements for you, and we'll also give you a lifetime guarantee on the quality of materials and workmanship in home repairs that we authorise and arrange.

For a full definition of 'new for old', refer to your Product Disclosure Statement or click here.

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Does my insurance provide cover for visitor's possessions?

Classic Home & Contents 55UP Home & Contents Platinum Home & Contents
Up to $500 on the uninsured belongings of your visitors Up to $500 on the uninsured belongings of your visitors
Up to $2,000 cover on the uninsured belongings of your grandchildren		 Up to $2,000 on the uninsured belongings of your visitors and uninsured contents owned by your domestic employees.

This additional feature is not available on Investor Contents Insurance policies.

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Does my insurance cover my tools of trade and home office equipment?

  Classic
Home & Contents		 55UP
Home & Contents		 Platinum
Home & Contents
Tools of trade Up to $1,000 Up to $1,000 Up to $5,000
Home office equipment Up to $10,000 Up to $10,000 Up to $20,000

This feature is not available on Investor Contents Insurance policies.

If you are a business owner, click here for more information about insurance for your business.

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How can I save money on my premium?

With GIO there are several ways customers could save money on their GIO premium:

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What is Legal Liability cover?

Legal Liability covers your liability to pay compensation for death or bodily injury to other people or loss or damage to their property resulting from an incident, which happens in connection with you owning or living in the home at the insured address. For instance, if a person was to come onto your property and injure themselves by tripping whilst climbing the stairs, the legal liability component of your policy could cover you if they seek the payment of damages.

Legal Liability on Contents also covers your liability to pay compensation for an incident, which causes death or bodily injury to other people anywhere in Australia or New Zealand. So if you were playing golf and your ball was to strike another player causing injury, your policy could cover you, if they seek damages from you for their injuries.

Your policy provides you with up to $20 million legal liability cover.

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What is Domestic Workers Compensation?

This is an Optional Cover* available only in NSW, ACT and WA. It provides cover for domestic employees, such as an ironing lady or housekeeper working for you, for an incident or accident at the Home causing injury.

Please note that from 30 June 2008, employers in NSW who expect to pay $7,500 or less in annual wages will no longer need to have a workers compensation policy. This means if you pay $7,500 or less in wages for domestic employees in and around your home you do not need the optional cover for domestic workers compensation added to your home and contents policy.

If you expect to pay more than $7,500 in wages for domestic workers over the next financial year you can add the Domestic Workers Compensation Option to your home and contents policy.

Further information about the change is also available on the WorkCover website at www.workcover.nsw.gov.au.

If you take up this optional cover, we will insure your legal liability to pay workers compensation to your domestic employee if he or she is injured while working for you.

* This optional cover is not available on Investor Home & Contents Insurance polices.

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Getting a quote/Applying for insurance online

What information do I need to provide?

We will ask you details about your home, its use and occupancy. During the quote, we only ask questions that are relevant in providing you with a premium estimate. We only ask full personal details (such as your name and contact information) if you choose to apply online.

To get a quote, some things you might need to find out if you don't already know are:

And, if you choose to apply online:

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Is my personal information secure when I get a quote, or apply for insurance online?

GIO maintains technology and procedures no less than industry standard in respect to its information management and provision of online services. These measures are revised and updated to ensure we continually maintain and improve our level of security.

Transactions involving the submission of personal information over the Internet to GIO by using one of our online forms or systems, such as online quoting, use encryption technology to ensure the security of that personal information transmission.

Once received by GIO your personal information is stored and protected by a range of security controls including system firewalls and user identification requirements and audit trails. GIO systems and information technology infrastructure are regularly audited both by internal and external experts and regulatory bodies.

View Your Privacy & Security for more information.

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What do I need on my computer to get a quote and apply for insurance online?

You need a Browser that is Microsoft IE 5.5 Service Pack 2 or above, or Netscape 6.2 or above.

You also need to have JavaScript enabled. Use your browser's Help menu or visit it's support site to learn about changing your Browser settings.

This website can be viewed on a screen resolution of 800 x 600 pixels and above. For best results, you might consider changing your screen size to 1024 x 768. Refer to Help within your Operating System (eg. Windows) for instructions on changing your desktop settings.

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How do I view PDF files?

You need Adobe Acrobat Software on your computer to be able to read or print PDF files such as Product Disclosure Statements (PDS). You can download Acrobat Reader for free from the Adobe website.

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How do I use the quoting and application system?

At the bottom of each page, click on the 'next' button to go to the next page once you have answered all the questions or the 'back' button to go to the previous page. There is also a menu on the left side of the screen that you can click to go back to a page you have already been. Click the 'next' buttons to go forward again.

What if I need help during the quote or application?

During the quote and application process, there are question marks next to some questions. Click on these to show more information or definitions related to that particular question. You can also access these FAQs from the footer of every page. If you need further assistance, please call us on 13 10 10.

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What are my payment options if I apply online?

You can choose to:

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Can I choose my excess online?

Yes. Once you have completed the quote process and received your premium estimate, you can click on the 'Change my excess.' links. You can find these beneath your basic excess or in the Next Steps box in the top right corner of the page. You can then select different basic excesses to change your premium estimate. Each time you do so you will be given a quote number so you can proceed with the excess of your choice.

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Why did I get a 'We'll call you back' page.

It means that at that time, we were not able to proceed with your quote online. This could be because we need to ask you further information about one of your answers to our questions or it might be due to a technical issue. On the 'We'll call you back' page, you can specify when and where you want us to call you so we can assist you further. If you would rather not wait for us to call you back and you need further assistance, please ring us on 13 10 10.

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Why do some of the sum insured fields already have figures entered? Can I change them?

Yes. Where possible, we include a sum insured estimate as a guide. You can find out more about these estimates by clicking on their related question mark "?". You can click inside the field that contains the estimate and it will automatically clear. You can then type in your own figure for the sum insured.

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For how long is my quote valid?

Your quote is valid for 7 days. You can apply for insurance anytime within this period. When you come back to the GIO website, select the 'retrieve a quote' link from the menu on the left or the service centre in the top right corner of the GIO homepage.

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Can I print my quote?

Yes. On the quote page that shows your premium estimate and quote number, there is a small printer icon and a 'print this page' link in the Next Steps box in the top right corner. Click this link to open your browser's print window.

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Can I get a copy of all the questions and my answers?

Yes. When you have reached both the 'Your Quote' and 'Your Policy' screens, there is a detail link in the left menu. Click on this to see all the questions and your answers.

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I have completed the quote and application process, what now?

It is a good idea to print the 'Your Policy' page for your records. You will receive a Certificate of Insurance and Product Disclosure Statement by post.

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When will my insurance start?

Once you have completed the application, you will be given a Policy Number. You will be covered from the date that you specify:

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Buying and Renewing Insurance Policy

How do I determine the right level of cover?

The purpose of your Home & Contents Insurance is to return you or as close as possible to the position that you were in prior to a claim.

You are responsible for deciding the amount of your sum insured.

Homes

To avoid being underinsured, your Home sum insured should reflect what it would cost to rebuild your house today using the same materials and the same style of fittings and fixtures.

To help you estimate the replacement value of your home you can use the Home & Contents Calculator.

Please note that our calculator is intended as a guide only. Consider whether you need a professional valuation by contacting an architect, builder or other valuation experts.

Contents

The new for old replacement value of your content depends on the furnishings, personal items, valuables, appliances and other household goods you have in your home or unit. One way that might help you calculate the new for old replacement value of all contents is to walk around the home, room by room, make a list of all the items and place a new for old value against each of them. The total new for old replacement value of all contents items should be your sum insured.

Each year, it's worthwhile considering the new Contents items purchased during the period of insurance, and call us to update the sum insured accordingly. Unless you are downsizing your home, the sum insured usually needs increasing.

To estimate the replacement value of your Contents, you can also use the Home & Contents Calculator.

Please note that our calculator is intended as a guide only. Consider whether you need a professional valuation by contacting an architect, builder or other valuation experts.

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How do I work out new for old values on paintings and other artistic objects?

Paintings, pictures, works of art, sculptures and art objects
Classic / 55UP
Home & Contents*
Platinum Home & Contents*
 Investor
Home & Contents**
  Essential Limits Essential Plus Limits  
up to $10,000 for each item or set, but not more than a total of $50,000 up to $100,000 in total up to $200,000 in total up to $2,000 for each item or set, but not more than a total of $10,000

* If you own a painting worth more than the limit shown, you can ask us to list it for its replacement cost on your Certificate of Insurance.

** Under the Investor policy, you can insure up to $2,000 for each painting and work art objects to a maximum total of $10,000 only.

You will need to keep evidence of the value of the artistic object, and the amount that you list on your certificate of insurance should reflect a recent valuation from a reputable art dealer or fine art expert or receipt of purchase.

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Which items do I need to list on my Home & Contents insurance policy to make sure they are covered?

Items required to be listed
  Classic / 55UP
Home & Contents
Platinum Home & Contents
 Investor Home
& Contents
  Essential Limits Essential Plus  
**Jewellery and watches up to $1,000 for each item or set, but no more than a total of $4,000 up to $5,000 for each item or set, but no more than $20,000 in total up to $10,000 for each item or set, but no more than $40,000 in total Not covered
**CDs, DVDs, audio and video tapes, records, computer discs, computer **software, game cartridges and consoles up to $5,000 in total Covered up to the sum insured for contents Not covered
**Carpets or rugs that are hand-woven up to $2,000 each carpet or rug Covered up to the sum insured for contents Not covered
**Silver and gold items, items plated with silver or gold (unless limited elsewhere in 'Contents limits') up to $2,000 each item or set up to $50,000 in total up to $100,000 in total Not covered
**Paintings, pictures, works of art, sculptures and art objects up to $10,000 for each item or set, but no more than a total of $50,000 up to $100,000 in total up to $200,000 in total Not covered
**Stamps, stamp collections, collector's pins, medals and collector's non-negotiable currency up to $2,000 in total up to $25,000 in total up to $50,000 in total Not covered
**Collections or memorabilia up to $2,000 in total up to $25,000 in total *** up to $50,000 in total *** Not covered

If you own items worth more than these limits, you can ask us to list these items on your policy and cover them for their full replacement value for an additional premium.

*** Please note that under Platinum Home & Contents wine is not a 'collection' and has no special limit.

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What are my options for insuring my jewellery*?

For customers with either Classic Home & Contents policy or 55UP Home & Contents policy, you have two options to insuring your jewellery:

1. At the Home

To cover each item or piece of jewellery over $1,000 (per item or set) at the home, you will need to list the item so that they are covered for its full replacement value under the Contents policy.

By doing this, your jewellery will be covered at the home for insured events such as theft, fire and storm. You will need to have a jewellery valuation before asking us to list jewellery, and this will be needed again if a claim is made.

2. Portable cover - Anywhere in Australia and New Zealand

The other way is to cover jewellery inside and away from home is by adding Portable cover to your Contents policy.

While this costs more than simply listing jewellery under the Contents policy, your jewellery is covered for accidental loss or damage anywhere in Australia and New Zealand. Your listed jewellery and watches would also be covered anywhere in the world for up to 30 days.

For customers with Platinum Home & Contents Insurance, your jewellery is automatically covered inside and away from the home

Platinum Cover in Different Locations
Elsewhere in Australia and New Zealand Elsewhere in the world (listed jewellery and watches* only)
Cover for most content items anywhere in Australia and New Zealand for up to 185 days when they are temporarily away from the insured address. Cover for jewellery and watches listed under your policy when they are outside Australia and New Zealand for up to 100 days.

There are 2 levels of limits available for jewellery and watches under the Platinum Home & Contents policy. If items are worth more than the limits shown below, you can list items individually

Platinum Cover for Jewellery and Watches
Essential Limits Essential Plus
up to $5,000 for each item or set, but not more than $20,000 in total up to $10,000 for each item or set, but not more than $40,000 in total

* Cover for jewellery is not available with Investor Home & Contents Insurance policies.

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How do I apply for insurance with GIO?

We offer you several convenient ways to apply for an insurance policy:

If you are a Platinum Home & Contents customer, please ring 1800 158 983 to speak with our Platinum Insurance team, who have been specially trained to provide you with easy access and practical assistance.

Platinum Insurance team hours of operations for Sales and Service enquiries:

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How do I make a payment?

We have convenient payment options to suit everyone:

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What happens at renewal time?

You will receive a renewal notice approximately four weeks prior to your renewal date. The renewal notice outlines the amount payable, the payment options and the next steps.

You also receive your Certificate of Insurance, which outlines your policy details including; type of cover, sum insured, excess amounts and any optional covers you have chosen.

Please ensure the information on your Certificate of Insurance is correct, and that you have an adequate level of cover for your Home & Contents. If you need to make any changes, please contact us on 13 10 10, 24 hours a day, 7 days a week.

You must pay for your insurance by the due date to ensure that your cover is maintained.

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Am I required to provide any additional information at renewal time?

Please read your renewal documentation carefully for information about your Duty of Disclosure obligations.

Also, let us know if there has been a change in your circumstances, which may have an impact on your Home and/or Contents Insurance. For instance, if you have renovated your home or if you have purchased new furniture/appliances, this may have an impact on your Home & Contents sums insured.

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How are premiums calculated?

GIO Home & Contents Insurance premiums reflect a number of factors, including the cost of current and future claims and business expenses.

Each time you renew your insurance, your premium may change, even if your personal circumstances have not changed. This is because premiums are affected by:

There are factors outside our control, and they can affect our cost of settling claims, so we need to analyse them on an ongoing basis.

The premium you pay is calculated using a wide range of factors called rating factors, including:

These rating factors may cause an increase or decrease to your premium.

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Why might my premium increase?

No one wants premiums to rise. Sometimes when you renew your insurance your premium will change even if your personal circumstances have not changed. This is because premiums are also affected by other factors such as:

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Claims Information

How do I make a claim?

GIO offers a hassle-free claims service, so you don't have to worry about filling in claims forms, and we can arrange repairs to or replacement of your home or contents after an approved claim.

With our paperless claims service, all it takes is a phone call to our claims hotline on 13 14 46, open 24 hours a day, every day of the year.

If you have Platinum Home & Contents Insurance, please ring 1800 172 415 to speak with our Platinum claims team between the hours of:

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What proof do I need when I make a claim?

We will ask you for proof of purchase or evidence of value and ownership at the time of claim. This could be a store or credit card receipt, user manuals for recently purchased electrical items, or even a receipt of repair to the item.

We suggest that you store all of your receipts or valuations in a fireproof area or container.

Our Virtual Safe is also a good place to store information about your Home & Contents items, which may be used for verification if you need to make a claim. For more information on the GIO Virtual Safe click here.

You must provide us with a full description of each item or set being claimed and any proof of ownership and value that we ask for. We will decide what is reasonable proof of ownership depending on what is claimed and its age and value. Minimum requirements for proof of ownership and value apply to the contents items shown in the following table. We might ask for similar proofs on other contents items or ask for additional proof for the items in the table below.

Jewellery

Amount claimed for each item or set Minimum proofs for assessment
up to $500

Details of when and where purchased and the price paid. If you are claiming for more than $1,000 in total, we may ask you for more proofs.
over $500 to $1,000

One of the following:

  • proof of purchase that identifies the item
  • a close-up photograph clearly showing the item
  • a full description and value from a jeweller obtained before the loss occurred.
over $1,000 to $3,000
  • proof of purchase that identifies the item plus
  • a full description of the item in writing from the jeweller you bought it from or a professional valuer.
over $3,000 A valuation by a qualified jeweller or professional valuer. A close up photograph will help us but is not essential.

Watches

Amount claimed for each item or set Minimum proofs for assessment
up to $1,000

If purchased over 12 months ago
Details of when and where purchased and the price paid.

If purchased new in the last 12 months
One of the following:

  • proof of purchase that identifies the item
  • a certificate of authenticity
  • an original operating manual
  • the manufacturer’s box
  • a close up photograph.
over $1,000 to $2,000

One of the following:

  • proof of purchase that identifies the item
  • a certificate of authenticity
  • an original operating manual
  • the manufacturer’s box
  • a close up photograph
over $2,000

One of the following:

  • proof of purchase that identifies the item
  • a warranty, guarantee or certificate of authenticity showing the model or serial number
  • a manufacturer’s box if it has the model or serial number showing
  • a valuation by a licenced member of the Auctioneers and Valuers Association of Australia.

CDs, DVDs, records and other types of music, video and electronic media and storage items

Amount claimed for each item or set Minimum proofs for assessment
up to $1,000 in total

A list of items claimed and their replacement cost.
over $1,000 in total
  • A list of items claimed plus
  • photographs that clearly show the number of claimed items in the place where they are stored.

Paintings, pictures, works of art, sculptures and art objects

Amount claimed for each item or set Minimum proofs for assessment
up to $2,000

If purchased over 12 months ago
Details of when and where purchased and the price paid.

If purchased new in the past 12 months
Proof of purchase that identifies the item.
over $2,000

One of the following:

  • proof of purchase that identifies the item
  • a valuation by the Auctioneers and Valuers Association of Australia.

Silver or gold items, items plated with silver or gold (other than jewellery and watches)

Amount claimed for each item or set Minimum proofs for assessment
up to $1,000
  • A full description plus
  • details of when and where each item was purchased and the price paid.
over $1,000

One of the following:

  • proof of purchase showing a full description of each item or set
  • proof of value from a professional valuer or dealer. A close up photograph will help but is not essential.

Stamps, stamp collections, collector’s pins, medals and collectors non-negotiable currency

Amount claimed for each item or set Minimum proofs for assessment
up to $2,000

If purchased over 12 months ago
Details of when and where purchased and the price paid.

If purchased new in the past 12 months
Proof of purchase that identifies the item.
over $2,000

One of the following:

  • photos or photocopies of each coin or stamp plus evidence of what it is worth
  • proof of purchase that identifies the item
  • a valuation by the Auctioneers and Valuers Association of Australia. A close up photograph will help but is not essential.

Electrical items such televisions, stereos, cameras, mobile phones, computers, PDAs and organisers

Amount claimed for each item or set Minimum proofs for assessment
up to $250

If purchased over 12 months ago
Details of when and where purchased and the price paid for it.

If purchased new in the past 12 months
One of the following:

  • proof of purchase that identifies the item
  • original operating manual
over $250

If purchased over 5 years ago
We will decide what is reasonable proof of ownership depending on what is claimed, its age and value.

If purchased new in the past 5 years
One of the following

  • proof of purchase that identifies the item
  • original operating manual
  • manufacturer’s box.

Collections or memorabilia

Amount claimed for each item or set Minimum proofs for assessment

up to $2,000

If purchased over 12 months ago
Details of when and where purchased and the price paid.

If purchased new in the past 12 months
Proof of purchase that identifies the item.
over $2,000

One of the following:

  • photos or photocopies plus evidence of what it is worth
  • proof of purchase that identifies the item
  • a valuation by the Auctioneers and Valuers Association of Australia.

Carpets or rugs that are handwoven

Amount claimed for each item or set Minimum proofs for assessment
up to $2,000

If purchased over 12 months ago
Details of when and where purchased and the price paid.

If purchased new in the past 12 months
Proof of purchase that identifies the item.
over $2,000

One of the following:

  • proof of purchase that identifies the item
  • a valuation by the Auctioneers and Valuers Association of Australia.
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What is the advantage of getting a professionally prepared valuation?

To help avoid financial loss, it is important to ensure you are adequately insured. It is also paramount to be able to establish proof of ownership. Often, people are unable to recall all the items lost before settlement of a claim.

A professionally prepared valuation report as the basis for home and content insurance can provide comfort that adequate compensation will be available to replace or professionally restore items or damage to the home.

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What are costs for content valuations?

The cost of valuations is dependant upon many factors including travel, the degree of research required and the size of the property. Most valuers charge on an hourly basis rather than a percentage of value. As a 'rule of thumb' the fee will normally be the time the valuer spends out of the office, plus an equal amount of time to conduct the research and prepare the report.

Whilst the valuation report can be used for such purposes as estate planning and family division, its principal use is to assist in the event of an insurance claim. Those who have suffered a loss and need to establish proof of existence will attest to the value of the information.

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What resources are available to find a qualified valuer?

We have a range of useful links that can direct you to professional valuers to help you decide on the level of cover you need for your Home & Contents. For more information click here.

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How are claims paid?

When settling claims, we will decide to either:

However we will not:

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What are excesses?

If you make a claim, the excess is the amount you have to pay for each incident. The amount and type of excesses that apply to your policy are shown on your Certificate of Insurance. We will deduct the excess from the amount of cover on your policy and then pay you, or we will ask you to pay the excess to a supplier, repairer or us.

Depending on the circumstances of your claim, you may be required to pay more than one excess.

We provide a range of excess options, so the more you increase your excess, the lower your premium will be.

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Do I get a no claim bonus on my home policy?

GIO does not offer a "no claim bonus" on its Home policies, but this means that we don't penalise you by removing or reducing a "no claim bonus" if you do have a claim.

This gives you the added peace of mind that if an unfortunate event does happen which leads to an insurance claim, you will not be penalised.

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Should I keep an inventory of my contents?

It's wise to maintain a detailed list of electrical and electronic equipment, which should include makes, models, serial numbers, etc. This will come in handy if you ever need to make a claim.

You should also keep a list of other valuable items that are likely targets for burglars, for instance jewellery, CDs, art works, collections, memorabilia and hand woven rugs.

This list should include full descriptions, valuation certificates and receipts. Photographs will also help us with replacement, and help the police following a burglary.

GIO free Virtual Safe is an ideal tool for keeping track of all of your Home & Contents items. For more information on the Virtual Safe click here.

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What is the Virtual Safe?

GIO 'Virtual Safe' is a free software tool designed to give you a centralised, secure place to store all of your valuable documents and information.

It's an easy-to-use, password protected Virtual Safe located on your own computer. You can also create and store a back-up copy of your Virtual Safe on CD-ROM or DVD.

We've developed the 'Virtual Safe' to help you store all of your home and its contents information. This could include lists of items, photos, images of receipts, warranties, as well as details of important documents like valuations and certificates.

Start using your 'Virtual Safe' today by downloading the software and installing it on your personal computer.

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Do I have to tell you my Input Tax Credit (ITC) entitlement on my insurance premium?

Under the GST Act, you must tell us what your entitlement to ITC was for your insurance premium. If you need more information please contact the ATO on 13 28 66 or www.ato.gov.au.

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Why do you deduct ITC entitlement from any direct payments to me?

Under the policy/PDS we are liable to pay you the net cost of your claim. When we calculate a payment to you for your claim, we can reduce it by any Input Tax Credits you are, or would be, entitled to receive, as these input tax credits reduce your net cost.

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Who can I discuss my ITC with?

We suggest you contact your Accountant or the ATO on 13 28 66 or www.ato.gov.au

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Safety and Security Information

How can I avoid burglary/theft?

Having security on your home can act as a precautionary measure to protect you against burglary and theft. Measures that may help maintain a minimum level of security include:

Find out more about home security with our full list of home security tips.

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What steps can I take towards fire prevention?

Serious house fires can cause extensive property damage and loss of life. Although the number of deaths from house fires is relatively small, all accidental deaths are generally regarded as preventable. Our fire safety tips can help protect you, your family and your home

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What should I do during bushfires?

Bushfires are frequent in Australia with several hundred of various sizes per year. A report published by Emergency Management Australia in 2004 indicated that there were 20 bushfires between 2000 and 2003 in which 2,958 houses were damaged and 830 homes destroyed.

If bushfire threatens your home, our bushfire safety tips can help you be prepared.

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What should I do during a natural disaster?

Our home safety tips section has detailed information on what you can do in the event of a flood, earthquake or cyclone.

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What do I do in cases of Water Damage?

From broken pipes to leaking appliances, water damage is one of the most common causes of damage to a home. However, in many cases water damage can be avoided with routine maintenance. Here are some precautionary measures as recommended by Emergency Management Australia.

Kitchen, bathroom, and laundry rooms

Outside your home

In case of water damage here are some things you can do to help protect your home:

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General questions

What do I do if I have a complaint or dispute?

If you have a complaint concerning this product or our services, please tell the people who provided your initial service. Or you can:

We will try to settle your complaint within 1 working day. If we can't, we will tell you within 3 working days that we have received your complaint and try to settle it within 21 days.

For more information on our complaints handling process, please contact us.

If you are dissatisfied with our decision or the way we handled your complaint, please let us know.

Otherwise, you can contact the Financial Ombudsman Service. You need to do this within 3 months of receiving our final decision.

The Financial Ombudsman Service provides a free service and is a totally independent and impartial body. They will tell you if they can help you, as their services are not available to all customers. If you want more information on the Financial Ombudsman Service, please ask us for a brochure.

You can contact the Financial Ombudsman Service by:

Phone: 1300 780 808 (for the cost of a local call)
Post: GPO Box 3
Melbourne, Victoria 3001
Website: www.fos.org.au
Email: info@fos.org.au

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Where can I find a glossary of Home Insurance terms?

A glossary of key Home Insurance terms is available in each of the Product Disclosure Statements.

Please click on one of the following links to access your PDS:

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