CGU Renters Contents Accidental Damage policy
Sum insured policy. Underwritten by IAG.
![Image thumbnail 0](https://pdbimg.choice.com.au/cgu-renters-contents-accidental-damage_1_mobile.jpg)
- Insurer
- CGU
- Policy
- Renters Contents Accidental Damage
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Underwriter
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The company that issues your insurance and in most cases handles the claims.
- Insurance Australia Limited
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Satisfaction score
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We surveyed customers to ask them about their overall experience with the insurer. This score represents the percentage of people who rated their experience as above average or excellent. Percentages with an asterisk* had fewer than 30 respondents, so they should be taken as indicative only. N/A means there was no result for that insurer.
- N/A
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Pay-by-the-month charge
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Does this insurer impose an extra administration fee for paying monthly? This is sometimes described as a discount for paying annually, but it amounts to the same thing.
- No
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Contents cover
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The sum insured is the maximum amount your insurer will pay to replace your contents. If a policy has an underinsurance safety net (also called "gap cover"), the insurer will pay a percentage above your sum insured if necessary.
- Nominate a sum insured for your contents
Specify a sum insured for each item worth more than $20,000 -
Legal liability
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Cover for when a member of your household is responsible for damage to or loss of another's property, or another person's injury or death (caused by an accident).
- Up to $20 million
Cover for people named on the policy, plus their family members living with them
Cover for incidents in Australia (and overseas for 90 days)
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ACT price comparison
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The fewer dollar signs, the cheaper the policy compared to other products available in the territory. N/A means the insurer doesn't operate here, or doesn't participate in the premium sharing program we use to collect pricing data.
- $$
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NSW price comparison
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The fewer dollar signs, the cheaper the policy compared to other products available in the state. N/A means the insurer doesn't operate here, or doesn't participate in the premium sharing program we use to collect pricing data.
- $$
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NT price comparison
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The fewer dollar signs, the cheaper the policy compared to other products available in the territory. N/A means the insurer doesn't operate here, or doesn't participate in the premium sharing program we use to collect pricing data.
- N/A
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North Queensland price comparison
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North Queensland means north of the Tropic of Capricorn. The fewer dollar signs, the cheaper the policy compared to other products available in the region. N/A means the insurer doesn't operate here, or doesn't participate in the premium sharing program we use to collect pricing data.
- $$$
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South Queensland price comparison
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South Queensland means south of the Tropic of Capricorn. The fewer dollar signs, the cheaper the policy compared to other products available in the region. N/A means the insurer doesn't operate here, or doesn't participate in the premium sharing program we use to collect pricing data.
- $$$$
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SA price comparison
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The fewer dollar signs, the cheaper the policy compared to other products available in the state. N/A means the insurer doesn't operate here, or doesn't participate in the premium sharing program we use to collect pricing data.
- N/A
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Tasmania price comparison
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The fewer dollar signs, the cheaper the policy compared to other products available in the state. N/A means the insurer doesn't operate here, or doesn't participate in the premium sharing program we use to collect pricing data.
- $$$$
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Victoria price comparison
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The fewer dollar signs, the cheaper the policy compared to other products available in the state. N/A means the insurer doesn't operate here, or doesn't participate in the premium sharing program we use to collect pricing data.
- $$
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WA price comparison
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The fewer dollar signs, the cheaper the policy compared to other products available in the state. N/A means the insurer doesn't operate here, or doesn't participate in the premium sharing program we use to collect pricing data.
- N/A
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Explosion
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In some policies the actual exploding object is not covered.
- Yes
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Fire
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Cover for damage caused by fire and its by-products (smoke, soot, ash, etc). Waiting periods for bushfire may apply, unless you are switching from another policy with equivalent cover with no change in sum insured.
- Covers fire, bushfire and grassfire
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Theft
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Cover for theft or burglary from your home. Most insurers require you to make a police report.
- Covers theft and attempted theft
No cover for theft by tenants, residents or people at site with consent of residents
No cover for theft from part of building shared with someone not insured by policy
Up to $1000 for security firm callout if monitored alarm set off (must have evidence of attempted burglary)
Up to $5000 for stolen credit/ATM card fraud -
Flood
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Flood as per the standard industry-wide definition. Waiting periods may apply unless you're switching from another policy with equivalent cover with no change in sum insured.
- Yes
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Storm and cyclone
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Waiting periods may apply unless you're switching from another policy with equivalent cover with no change in sum insured.
- Yes
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Earthquake
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Earthquake cover often comes with an additional excess of $300 or more. Check your PDS for details.
- Yes
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Tsunami
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Products that cover tsunami usually include it under earthquake cover, and often comes with an additional excess of $300 or more. Check your PDS for details.
- Yes
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Action of the sea
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This usually covers the normal movements of the sea, including damage from king high tides, water erosion, etc.
- No
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Storm surge
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Where the sea level rises as a result of a storm. You may also have to claim for storm damage or flood for this to be covered. Some insurers only cover in the event of a cyclone. If this is important cover for you, check the PDS.
- No
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Vandalism
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May also be called malicious damage. Some insurers also classify riot as a separate event.
- Yes
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Impact damage
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Cover if a tree falls on your house or a car crashes into your front room, for example. Some insurers that cover animal damage do so under this event.
- Yes
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Animal damage
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This cover often comes with a range of exclusions – insect damage or damage caused by your pets typically isn't covered, for example.
- Yes
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Escape of liquid
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From pipes, tanks, pools, spas, baths/basins, aquariums, waterbeds etc. Excludes faulty workmanship or leaks that cause damage over time.
- Yes
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Breakage
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Damage to easily broken objects like mirrors. Not to be confused with accidental damage, which is a broader level of cover.
- Yes
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Accidental damage
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Cover for accidental damage to insured items at the home.
- Yes
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Out-of-hours claiming
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The easiest ways to begin a claim outside business hours. All insurers have a phone line you can call during the day, and some insurers still have in-branch claiming.
- Online and 24/7 phone
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New for old contents replacement
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All insurers promise to replace contents with equivalent new items, although some policies have exceptions.
- Yes
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How the insurer can settle your claim
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Insurers will settle your claim in one of three ways.
- Repair damaged items
Replace damaged items
Pay you the item's replacement value, up to your sum insured or other sublimits -
Cash settlement
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How much will you get in a cash settlement? How a cash payout is calculated can depend on whether you request it or the insurer offers it. Non-cash alternatives might include gift cards, pre-paid debit cards, store credit, etc. Customer cost: The insurer will pay what it will reasonably cost you to repair/replace your contents. Insurer cost: The insure will pay what it would cost them. This offer may take into account trade discounts the insurer can access, leaving you out of pocket.
- Customer cost
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Motor burnout
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Cover for burnout of motors that are part of your insured contents, e.g. washing machines. Also called motor fusion.
- Motors up to 15 years
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Keys and locks after break-in
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Cover for replacing locks and re-coding electronic keys after a break-in or theft of the keys. Policies usually stipulate you report the break-in to the police.
- Yes
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Temporary accomodation
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If your home is uninhabitable after an insured event. Some insurers will only pay this benefit if the rent at your new accommodation is more than your current rent. In that case they will only pay the difference, not the full cost.
- Up to 12 months or 10% sum insured overall
Paid on top of sum insured
Covers pet boarding -
Debris removal
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Cover to remove destroyed contents after an insured event.
- Up to 10% sum insured overall
Paid on top of sum insured -
Optional cover for specially listed valuables
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For an extra premium you can insure individual portable valuables against accidental loss or damage, both at and away from home. Individually listed items are insured for their replacement value and will be shown on your certificate of insurance.
- Cover for accidental loss/damage
Covered anywhere in Australia, New Zealand, and for up to 90 days in rest of the world
$250 excess -
Cover for unlisted portable contents
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Many insurers will cover a limited range of items for accidental loss or damage away from home.
- Default cover:
Covers most general contents for insured events (including accidental loss/damage)
Up to contents sum insured overall
Up to $2500 per battery-powered item and valuable item, collection, pair, set or system
Up to $3000 per item, collection, pair, set or system of sporting equipment
Covered anywhere for up to 90 days in Australia and New Zealand
Contents excess applies
Optional extra:
Covers some items for accidental loss/damage
Nominate a portable contents sum insured
Up to $2500 per battery-powered item and valuable item, collection, pair, set or system
Up to $3000 per item, collection, pair, set or system of sporting equipment
Covered anywhere in Australia, New Zealand, and for up to 90 days in rest of the world
$250 excess -
Digital media
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Cover for contents such as digital media, software, and storage (e.g. discs, drives).
- Up to $20,000 overall
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Artworks
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Cover for unlisted works of art. If you want a higher level of cover, you may be able to specifically list individual items.
- Up to sum insured overall
Up to $20,000 per item, set, collection, system or pair -
Collections (e.g. stamps, coins)
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Cover for unlisted collections like coins and stamps. If you want a higher level of cover, see listed valuables cover above. In some cases cover may depend on the type of collection, so check the PDS.
- Up to sum insured overall
Up to $20,000 per item, set, collection, system or pair -
Jewellery
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Cover for unlisted jewellery at the home. If you want a higher level of cover you may be able to specifically list the item. If you need cover away from home, see listed valuables cover above.
- Up to 20% sum insured or $7500 overall
Up to $2500 per item, set, collection, system or pair -
Overlapping cover at a new house
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Let your insurer know you're moving house and they may cover your contents at both properties during the moving process.
- Up to 14 days cover at both addresses
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Cover for contents while moving house
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Cover while moving your contents to a new home. Usually only covers your contents while they're in the moving truck, not while you're loading in or out.
- Up to $10,000 overall
Cover for collision or overturning of removal vehicle, fire and theft of removal vehicle involving violent or forcible entry -
Contents in the open air
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Open air usually includes any area on your property that is exposes to the elements, but may also include unlockable areas like a garden shed. Each insurer has different definitions, so check with them for restrictions.
- Up to sum insured overall
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Visitors' contents
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Cover for your visitors' belongings if they are lost or damaged in an insured event. Standard exclusions and restrictions will apply.
- Up to $5000 overall
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Spoiled food
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Cover for food (and sometimes medication) that spoils if your fridge/freezer stops working. Typically you won't pay the full excess unless it is as a result of an insured event (in which case you'll probably be claiming for other damages).
- Up to $500 overall
Cover for failure of public electricity supply and disconnection of electricity supply as a result of fire, explosion, landslide, subsidence, storm, flood, rainwater or wind -
Pet cover
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Some policies will cover your vet bills in certain circumstances.
- Up to $500 overall
Cover for motor vehicle injury