Buildings Insurance

Save up to 10% on your first year’s premium when you purchase a new policy online1, 4

Protect your home buildings from unexpected events such as fire, theft, and storm.

With Over Fifty’s Building Insurance you can be covered if an unexpected event, such as a fire, theft or storm damages or destroys your most important asset, your home.

The better you understand your policy, the easier it will be if you ever have to claim.

Here is a limited summary of the benefits of a building insurance policy. For full details of the terms conditions, limits and exclusions that apply please read the Product Disclosure Statement (PDS), any applicable supplementary PDS and Key Fact Sheet (KFS) before making a decision to purchase the insurance.

Select the cover to suit your needs.

Effective 16 December 2019

Rebuilding and professional fees

If you need to rebuild your home after total loss or damage, Over Fifty’s Buildings Insurance will help pay the reasonable costs of architects, engineers, surveyors and solicitors up to $5,000.

Cover for the unexpected

Over Fifty’s Buildings Insurance offers protection for out of the ordinary but devastating events such as fire, storm and burglary.

Cover for storm damage

Rest easy, within the first 72 hours following a storm, Over Fifty’s Buildings Insurance has got you covered for loss or damage caused by soil movement, landslide, mudslide or subsidence caused by a storm.

Making your buildings environmentally friendly

If your buildings are totally destroyed and need to be rebuilt, in addition to your buildings sum insured, Over Fifty’s Buildings Insurance will pay up to $5,000 to help you make the new buildings more environmentally friendly.

Alternative accommodation for you and your pets

If your building is damaged by an insured event during the period of insurance to such an extent that you can’t live in your home buildings, Over Fifty’s Buildings Insurance pay the additional costs for temporary accommodation for you up to 10% of the building sum insured and up to $500 for temporary accommodation for your pets in a commercial boarding establishment.

Replacement locks

Over Fifty’s Buildings Insurance will cover the cost, up to $1,000, to replace the locks or cylinders of any external door or window following an actual or attempted theft or burglary if the key is stolen or you believe the key has been copied.

Vandalism or malicious damage

You are covered for loss or damage caused by vandalism or a malicious act.

Debris removal

In addition to your buildings sum insured, Over Fifty’s Buildings Insurance will pay up to 10% of your building and/or contents sum insured for the removal of debris from the damaged or destroyed part of the buildings.

24/7 emergency claims assistance

When you need to make a claim Allianz are there for you with a 24 hour claims line, helping you get back on track again as soon as possible.

Optional covers

Add any of these optional covers for an additional premium and greater cover

Accidental damage

The accidental damage cover option helps protect you in the event of accidental unexpected mishaps that are caused unintentionally – giving you greater coverage for your home building.

Motor burnout

The Motor burnout option covers you if an electrical current damages your household electrical motors.

Domestic workers’ compensation cover

Cover for a domestic worker (e.g.  gardener or cleaner), if they are injured   while working for you at the insured address.  Only available in ACT, WA and TAS.

Flood cover

Flood cover may be available as an optional cover to your buildings. A 72 hour exclusion period applies.

What does Building Insurance cover?

Buildings insurance is designed to protect the physical structures and fixtures that make up your home buildings: from the house itself, to your garage, fences and paved driveways – even built-in appliances like hot water systems, air-conditioners and more.

Policy Documents and Key Fact Sheets

We do not provide advice based on any consideration of your objectives, financial situation or needs. Terms, conditions, limits and exclusions apply. Before making a decision please refer to the Home Product Disclosure Statement (PDS) any applicable supplementary PDS and Home Buildings key fact sheet is also available for reference.
If you purchased home or landlord insurance before 16 December 2019, please refer to the relevant Over Fifty’s Vital Home InsuranceClassic Home Insurance or Prestige Home Insurance Product Disclosure Statements, any applicable supplementary PDS, and Buildings or Contents Key Fact Sheet.

Home Building Calculator

It’s up to you to decide the sums insured, and the type and level of cover that you want to take out. People generally want enough insurance to cover the property’s estimated replacement value. If you don’t have enough cover, you could end up having to cover some of the costs yourself. Remember, we will only pay up to the amount of your loss or the sum insured, whichever is the lesser – so you should also be careful not to over insure. That’s why we’ve provided the calculator. It works as a guide to help you estimate the replacement value of your home building.

Home Building replacement calculator

Value my home

Frequently asked questions

What do I do if I need to make a buildings insurance claim?

Take all reasonable precautions to prevent further loss, damage or liability. Contact the police immediately to report any malicious damage, theft, attempted theft, burglary or loss of insured property. Contact the Claims Call Centre on 1300 651 777 and advise the Claims Consultant of what has happened: the Claims Consultant will help you through the buildings insurance claims process.

Am I covered for Flood?

Flood cover is an option on both Building and Contents in Home and Landlords policies. Please call us on 13 31 30 to find out whether you are eligible for Flood cover. For full details of terms, conditions, limits and exclusions of all our home insurance cover options, please refer to the relevant Product Disclosure Statement any supplementary PDS and Home Buildings Key Fact Sheet.

What do I do if I rent my home out to tenants?

If you’re renting your home out to tenants, cover is not available under our Home and Contents Insurance unless you also live at the insured address. Through Over Fifty’s Insurance, we offer a product that has been specifically designed for landlords that you can consider instead. Click here.

What does it mean if I take the Accidental Damage cover option?

This optional cover provides even more protection – it covers you in the event of damage caused by accidental unexpected mishaps that are caused unintentionally not just the specified insured events.

If you have Buildings cover only and select this option, examples of the sort of mishaps you’ll be covered for include when:

  • You accidentally smash a hole in the wall when you move some furniture.
  • Your kids draw all over your walls.

I would like cover for my portable contents with my Buildings cover, what are my options?

The option to include portable contents cover under your policy may only be applied for if you have Contents cover or both Buildings and Contents cover. Your policy schedule will show which of the optional covers apply.

How do I know if I have optional covers on my policy?

You can apply to add these options to your policy when you start or renew it (or during your period of insurance by contacting Over Fifty’s Insurance on 13 31 30). If you’re not sure whether you have added these cover options, you can check your policy schedule.

How should I determine the replacement value of my buildings?

The replacement value of your buildings is not the same as the market value – you do not need to include the value of the land when calculating the buildings replacement value.

What is considered ‘unable to be lived in’?

Over Fifty’s Insurance will consider your home is unable to be lived in when it is so damaged that normal domestic activities like cooking, sanitation and personal hygiene cannot take place, and Over Fifty’s Insurance agree that you cannot live in the home.

Next steps

Get a quote nowRetrieve a quoteMake a claim

Over the phone – 24 hours a day, 7 days a week claims hotline

To submit a claim over the phone call 13 31 30, select claims and one of our friendly consultants will assist you.

DISCLAIMERS
Over Fifty Insurance Pty Ltd ABN 58 007 165 200 AR 295939 arranges this insurance as agent for the insurer Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL No 234708. We do not provide any advice based on any consideration of your objectives, financial situation or needs. Policy terms, conditions, limits and exclusions apply. Before making a decision, please consider the relevant Product Disclosure Statement available from over50insurance. If you purchase this insurance, we will receive a commission that is a percentage of the premium. Ask us for more details before we provide you with services.
1. Online discount
A premium discount of up to 10% is applied to your first years premium when you buy a new home insurance policy online including the following optional covers (if applicable); Accidental damage, Flood, Motor Burnout and Portable Contents. This discount is not applied on renewal.
2. Combined
[Applies to Home & Contents only] A discount of up to 10% for combining Buildings and Contents covers on one policy is applied for Buildings and Contents, Motor Burnout and Accidental damage cover where applicable. The combined policy discount does not apply to the optional Flood or Portable Contents covers.
3. NCB
When you take out a new policy, we calculate your No Claims Bonus based on your home or landlords (as applicable) insurance claims history. To qualify for the maximum No Claim Bonus of 30%, home insurance customers must have had no Building or Contents insurance claims in the preceding five years. Landlord customers must have had no Landlord insurance claims in the preceding 3 years. However, customers who have had claims may still qualify for a reduced No Claim Bonus.
4. Minimum premiums
If you are eligible for more than one discount, Allianz applies them in a predetermined order. This means any subsequent discount will be applied to the reduced premium amount after applying any prior discounts and the effect of the subsequent discount will be reduced.  For example, the aggregate effect of applying two 10% discounts consecutively means that you will not see the full benefit of both these discounts.
Discounts do not apply to taxes or government charges.
Discounts do not apply to optional covers for Domestic Workers Compensation / Landlord Workers Compensation, and may not apply to other optional covers (if available and selected). Any discounts/entitlements may be subject to rounding and may only apply to the extent that any minimum premium is not reached.
6. Instalment premiums
If you choose to pay your premium by instalments you do not pay us any more than if you pay your premium in one lump sum annually. The premiums payable by instalments may be subject to minor adjustments (upwards or downwards) due to rounding. Note: Your financial institution may apply transaction fees to instalment payments.