Buying a home is huge, equal parts exciting and “wait, did I forget something?”.
Insurance is one of those essentials that’s easy to leave until the last minute, but a smart plan can save you money and protect you from nasty surprises.
Here’s a simple, homeowner-friendly guide. (And yes, we can help with all of these.)
Why use a broker?
A good broker does the heavy lifting by comparing policies across insurers, explaining Product Disclosure Statements in plain English, tailoring cover to your suburb and property type, and helping at claim time (when you most need an advocate). We also time the start of your cover for settlement, check lender requirements, and look for smart bundle discounts without you spending weekends on hold.
Home insurance (building & contents)
Your will usually require building insurance from the day you become responsible for the property (often at settlement, unconditional or sometimes earlier under the contract).
Key things to check:
Sum insured:
Use a rebuild calculator and factor in demolition, debris removal, and today’s construction costs.
Hazards:
Make sure flood, storm, bushfire and cyclone risk are correctly covered for your address.
Temporary accommodation:
Useful if the home is unliveable after an insured event.
Legal liability:
Protects you if someone is injured on the property.
If you’re moving straight in, add contents insurance for your belongings and set higher limits for valuables like jewellery or tech where needed.
If you’ll rent it out: landlord insurance
Standard home insurance won’t cover tenant-specific risks. Landlord policies can include:
Loss of rent due to insured damage
(and, on some policies, default or eviction events).
Malicious or accidental tenant damage and theft
Liability cover
for incidents involving tenants or visitors.
Even short-stay/Airbnb setups need the right specialty wording.
Protect the mortgage: life insurance
Ask yourself: if one income stopped, could the household keep the home? Life insurance cover can be set to clear the loan and provide a buffer for costs like school fees or renovations. Couples often choose a joint strategy so either partner can keep the roof overhead without selling the property.
Protect your cashflow: income protection
If illness or injury keeps you off work, income protection can replace a chunk of your earnings, helping cover repayments, rates and everyday bills. Choose a waiting period that fits your sick leave/emergency fund, and a benefit period that gives real peace of mind.
Next steps
Tell me how you’ll use the property (live-in or rental), your lender/settlement date, and your budget. I can compare options, line up start dates, and get your home, landlord, life and income protection sorted so you can focus on the keys, not the fine print.
