What does Building cover?
Building Insurance covers your home’s physical structures and fixtures including your garage, fences and paved driveways. It also includes built-in appliances like hot water systems and air-conditioners.
Why consider switching to Westpac Home Insurance?
One less step
Sort out your banking and insurance together. Westpac insurance, provided by Allianz.
Side by side banking
See your insurance policies in Online Banking alongside your other Westpac accounts.1
Manage your budget with the option to pay annually or by the month at no extra cost.2
Insure your home and contents against storm damage, floods and bushfires.*
12 insured events
Cover against common events like fire, theft, storm, cyclones, flood and vandalism. A 72-hour exclusion period applies for loss or damage caused by cyclone, bushfires, grassfires, flood or flood water combined with run-off and rainwater.
Payment of rental costs for up to 10% of your building or contents sum insured for up to 12 months for alternative accommodation if your home is damaged by an insured event and becomes unliveable.
Up to $1,000 to replace locks or cylinders of external doors or windows if keys are stolen or copied as a result of a burglary.
Up to 10% of your sum insured for the removal of debris from damaged or destroyed buildings and or contents in addition to your building sum insured.
Rebuilding and professional fees
Up to $5,000 towards architects’, engineers’, surveyors’ and solicitors’ fees if you need to rebuild your home after total loss or damage.
Making your buildings environmentally friendly
Up to $5,000 in addition to your sum insured to make new buildings environmentally friendly if your buildings are totally destroyed.
What’s not covered
Wear and tear
Wear and tear including depreciation, gradual deterioration, wear and tear or lack of maintenance.
Inherent defects including faulty design or materials, structural defects or poor workmanship.
Illegal contents or personal effects which are acquired illegally or are illegally held.
Soil movement including erosion, landslide, mudslide or subsidence unless it is directly caused by and occurs within 72 hours of an explosion, earthquake, tsunami, storm or flood.
For full details, of the terms, conditions, limits and exclusions that apply please read the , and the Home Building and Home Contents Key Fact Sheets (KFS) before making a decision to purchase the insurance.
How much cover is enough?
It’s important to have the right amount of insurance to cover the cost of replacing your home in today’s dollars if the unexpected happens. If you don’t have enough, you may have to cover some of the cost yourself and if you have too much, you may only be paid an amount that covers your loss.
Our Home Building Insurance Calculator works as a guide to help you estimate the replacement value of your home.
Details on the benefits paid for your building sum insured are available in the PDS. Calculators on our website are intended as a guide only.^
Add optional cover
Tailor your cover to suit you. Add any of these optional covers for an additional fee and greater peace of mind.
You’re covered if an electrical current damages or destroys your household electrical motors, like those contained in fridges, air-conditioners, pool pumps and garage doors.
Frequently asked questions
If you buy Westpac Home and Contents Insurance, your insurer will be Allianz Australia Insurance Limited. This means if you need to make a claim, Allianz will be there for you to help you get back on track as soon as possible. For more information about Westpac’s distribution arrangement with Allianz, see the disclaimer below and our .
Things you should know
^The Building and Contents calculators provided by Allianz through a third party provider, are intended as a guide only. For a more accurate rebuilding cost, consider obtaining a professional valuation from a licensed builder or professional valuer.
#Buy an eligible home, contents or landlord insurance policy between 16/10/2023 and 8/12/2023 to receive a $150 eGift card after day 60 of your insurance policy being active. T&Cs apply, including a minimum premium of $750. Full T&Cs can be found here.
*72 hour exclusion period may apply. Allianz doesn’t provide cover for any loss of or damage to your property caused by cyclone , flood, grassfires and bushfires, during the first 72 hours after you first purchase a policy or increase your cover under an existing policy. For full details of conditions and exclusions please refer to the relevant PDS.
1Policy holders need to ensure their personal details on their policy match with their Westpac accounts. Only primary policyholders can see policies alongside their other Westpac accounts.
2Instalment premiums: If you choose to pay your premium by instalments you do not pay 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.
3Online discount: When you quote and buy a new Home Insurance policy or Comprehensive Car Insurance policy online a discount of up to 10% is applied to your first year’s premium. This discount is not applied on renewal.
4Combined: A premium discount of up to 10% for combining Building and Contents covers on one policy is applied for Building and Contents cover. This includes on optional covers for Motor Burnout and Accidental Damage, but not for Portable contents cover. This discount is not applied to the premium for Flood.
5Minimum 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/Landlord workers’ compensation (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.
For the standard terms, conditions and exclusions about our Home & Landlord Insurance, please refer to the relevant Product Disclosure Statement (PDS) and any supplementary PDS (if applicable). To see some of the events covered and not covered, please refer to our Key Fact Sheets (KFS).
Home and Contents Insurance is issued by Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 (Allianz). Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714 (the Bank) arranges the initial issue of the insurance under a distribution agreement with Allianz, but does not guarantee the insurance. This information does not take into account your personal circumstances. Before making a decision, please consider the relevant Product Disclosure Statement. For more information call 1300 650 255.
If you take out Home and Contents with Allianz the Bank will receive a commission of up to 12% of the premium (exclusive of GST).
A target market determination has been made for this product. Please visit www.westpac.com.au/tmd for the target market determination.
- How you can access the personal information Westpac holds about you and ask for it to be corrected;
- How you can complain about a breach of the Privacy Act 1988 (Cth) or a registered Code by Westpac and how Westpac will deal with your complaint; and
- How Westpac collect, hold, use and disclose your personal information in more detail.