All CGU Home & Contents Insurance policies include new-for-old replacement cover, which means that items claimed upon are replaced with the nearest equivalent new item.
Your jewellery, watches, items containing gold or silver, collections of stamps, coins and medals, cameras, sporting gear and battery-operated electronic equipment are all classed as valuable items.
Depending on the level of cover you choose, the total amount of valuables insured varies as follows:
- CGU Accidental Damage Home Insurance automatically covers valuable items worth up to 20% of the contents sum insured, or up to $7,500 whichever is higher.
- CGU Listed Events Home Insurance automatically covers valuable items worth up to 20% of the contents sum insured, or up to $5,000 whichever is higher.
- CGU Fundamentals Home Insurance automatically covers valuable items up to $2,000.
Additional cover for valuable items is available as an extra cost option (not available for Fundamentals Home Insurance).
All CGU Home & Contents Insurance policies also include these special benefits:
- Cost of alternative accommodation during the repair or rebuilding of your home following a loss.
- Electronic equipment – such as computers, TVs, videos and sound systems – are covered up to $20,000 per item.
- Paintings, tapestries and other works of art are covered up to $20,000 per item.
- Up to $10,000 cover for office and surgery equipment used in earning an income while at home. ($2,500 limit applies to Fundamentals Home Insurance.)
- Automatic indexing of your sum insured to cover the effects of inflation.
Additional special benefits are outlined in the . The amount of cover you receive will depend on the cover you select.
All CGU Home Insurance policies automatically include extensive liability cover of up to $20 million.