26 October, 2017
Spring is a season synonymous with cleaning and outdoor projects. As the weather warms up us Western Australians love to get stuck into a good DIY project, ranging from something as simple as re-purposing some old timber into a bench seat, through to a large scale reno.
But, what many of us forget is that anytime we make home improvements or buy big ticket items, the value of our homes often increases and this means we now have added value we need to protect.
Underinsurance is surprisingly more common that you might think, with more than 80%* of Australians underinsured for their home and contents. This means if everything is lost in a fire or flood, the amount of cover you have may not be enough to replace everything in your home.
To avoid making this mistake, there are a lot of easy-to-use calculators out there to determine the level of cover you may need for your home and contents. You can find a building insurance calculator; and a contents insurance calculator on our website.
Need more tips? Check out our underinsurance factsheet with some tips and tricks to help you reduce the risk.
So don’t forget, while you stand back and admire your finished handy-work, to check your level of cover. It may save you from having to do the same DIY project again next spring.
*Source: Understand Home Insurance Research Report August 2014
