Residential Insurance
THE POLICY
Catholic Church Insurances Limited's Residential policy is designed to cover residential properties such as private dwellings, convents, presbyteries and monasteries. New for old cover is provided on buildings and on most contents items. If contents cover is purchased, then personal effects and/or special valuables cover may be chosen. If Building or Contents cover is purchased, then optional liability cover of $10,000,000 is available.
WHO NEEDS THIS COVER?
This policy is suitable for smaller dwellings with domestic style kitchens. It is not suitable for hostels, hospices, nursing homes or properties commercial in nature.
DEDUCTIBLES/EXCESS
A compulsory $500 excess applies, with the optional $100 excess available for personal property and contents, and on buildings where the sum insured is less than $300,000.
LIMITS OF LIABILITY
The policy is limited to the Sums Insured as shown in the policy schedule.
STAMP DUTY and FIRE SERVICE LEVIES
Stamp duty is added to premiums with the amount varying from state to state. In some states, a Fire Services Levy is also applied.
Features and Benefits
If Building Cover is purchased, additional features include:
- New for old building replacement.
- Full flood cover.
- Fusion cover for motors (depreciation applies).
- Accidental breakage of fixed glass.
- Architect's, engineers surveyors and legal fees.
- Removal of debris.
- Loss of rent, if property is an investment property.
- Landlord's fixtures and fittings.
- Temporary accommodation.
- Cost of replacement locks and keys if keys are stolen from insured building.
- Optional cover for Legal Liability ($10,000,000).
If Contents Cover is purchased, additional features include:
- New for old cover on carpets.
- Full flood cover.
- $1,000 cover for contents in open air.
- Fusion cover for motors (depreciation applies).
- Accidental breakage of fixed glass.
- Temporary accommodation.
- $1,000 cover for food spoilage.
- Optional cover for Special Valuables and/or Personal Effects away from the home.
- Optional cover for Legal Liability ($10,000,000).
- Automatic cover for $5,000 per item, $20,000 in total, for jewellery and antiques.
OPTIONS/EXTENSIONS
Buildings can be endorsed and be insured for:
- Modified Reinstatement or Replacement Value. This is often suitable for older, historic buildings where in the event of a total loss a more functional building may be preferred.
- Indemnity/Present Value. This is where the building is insured for its Present Value, ie. Replacement cost Less Depreciation. It may also be used where you do not intend to rebuild, in which case, the sum insured represents the cost of removal of debris and demolition type costs.
TAKING OUT A POLICY
Catholic Church Insurances Limited will assist in obtaining information necessary for providing a quotation or issuing a policy.
Claims should be lodged with Catholic Church Insurances Limited as soon as possible by telephoning 1300 655 001.
Please note: this information sheet is not intended to replace the policy wording. It is designed for information purposes only and should be read in conjunction with the policy wording. For further information or a full copy of the policy wording please contact Catholic Church Insurances Limited on 1300 655 001.
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