Accidents Happen

Accidents happen. Sometimes these accidents can be quite expensive.

Breaking your glasses or losing a wallet can be a very stressful situation. We understand that accidents do happen. It’s not bad luck, we’re just human.

While there’s no magical touch to make things come back, you can insure personal belongings. We call this accidental damage cover and it’s that extra level of insurance coverage you may be missing out on.

There are two main types of home and contents insurance on the market. There are also separate personal property insurance policies available. However, in this article we will focus on two types of insurance policies. These are:

1. Defined Events and;
2. Accidental Damage

It’s important you can understand and know which type of cover you have in place.

How do you define which cover you have in place?

All Insurance House policies have a product disclosure statement (PDS). This document will outline the type of policy you have.

To explain the difference between these policies, a Defined Events insurance policy also known as, a Listed Events or a Listed Perils Policy is an insurance policy that typically limits you to only being able to make a claim for loss or damage. For example, this can be caused by a fire, earthquake, flooding etc.

Then there is the Accidental Damage Policy, which is a lot more extravagant. A good choice if you are clumsy or forgetful.

An Accidental Damage insurance policy covers loss or damage caused by events covered under a Defined Events insurance policy, plus more. Examples of this could include loss or breakage of personal items, or damage to walls and carpets.

When choosing between these policies just remember, if you have valuable personal items that are easy to lose or break, it may be ideal to consider an Accidental Damage insurance policy. As with all insurance policies, limits and maximum values may apply.

An Accidental Damage insurance policy generally provides a broader cover than a Defined Events insurance policy. 

Contact us today

If you would like to know more about what type of policy is suitable for you, call us today on 1300 305 834 or enquire via our website contact form.

Cover is subject to the policy terms, conditions, and exclusions.

This information is general in nature. To read our general advice warning click here.