Allianz Home and Contents Insurance Policy Details and Benefits

Allianz offers flexible coverage options for your home and contents, allowing you to tailor your policy to suit your needs.

Their home insurance policy covers damage to your home's structure, including walls, windows, and doors.

For contents insurance, you can choose to cover your belongings against damage, loss, or theft.

Allianz also offers additional benefits, such as new for old replacement, which means you can get a brand new item if the one you had is damaged beyond repair.

Allianz Home and Contents Insurance covers a wide range of events that can cause damage to your home and belongings. This includes theft or burglary, fire or smoke damage, and storm damage.

Here are some of the specific events that are covered:

Additionally, the policy covers impact damage, earthquake or tsunami, accidental breakage of glass or ceramic items, vandalism or malicious damage, explosion, and riots or civil commotion.

Allianz Home and Contents Insurance offers a range of policy options to suit different needs and budgets.

The standard policy period is 12 months, during which time you're protected against unexpected events.

You can choose to pay your premium annually or in 12 monthly installments.

When you're considering a particular policy, it's essential to understand what's not covered. Homes not lived in for over 60 days without a written agreement are not covered.

If you're planning renovations or building work, be aware that anything over $75K without a written agreement is not included in the policy. I've seen many cases where homeowners have been caught off guard by unexpected costs.

Holiday letting or short-term tenancy arrangements are not covered, so if you're renting out your property on Airbnb or another platform, you may want to explore additional insurance options.

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If you have a high-value home and/or contents, you're in luck because Allianz is still offering high value home insurance policies through Home & Legacy. These policies come in three different coverage levels: Prestige, Ultra, and Ultimate.

The Prestige home policy has a minimum contents sum-insured amount of £75,000, which is a good starting point for many people. It also includes alternative accommodation for 2 years, which can be a huge relief if you need to find a temporary place to stay.

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The Ultra home policy takes it up a notch with a minimum contents sum-insured amount of £150,000, and alternative accommodation for 3 years. This policy also includes property owner's and personal liability of £10 million, which can provide extra peace of mind.

The Ultimate home policy is the most comprehensive option, with a minimum contents sum-insured amount of £250,000 and alternative accommodation for 5 years. It also includes property owner's and personal liability of £10 million.

Here's a quick summary of the key features of each policy:

Remember, it's essential to make sure your home and contents cover matches the cost to rebuild your home and replace your belongings. If you're not sure how much cover you need, consider using a calculator to help guide you.

The policy details have some great features that are worth highlighting.

One of the standout features is the clear explanation of the policy's scope, which is outlined in the "Policy Overview" section. This helps ensure everyone is on the same page.

The policy also includes a comprehensive list of prohibited activities, which is detailed in the "Prohibited Activities" section.

Another key feature is the provision for regular reviews and updates, which is mentioned in the "Policy Review and Revision" section. This helps keep the policy relevant and effective.

The policy also provides a clear process for reporting incidents, which is outlined in the "Incident Reporting" section. This helps ensure that incidents are handled promptly and efficiently.

The policy's emphasis on employee training and education is also a notable feature, as discussed in the "Employee Training" section. This helps ensure that employees are equipped to handle their responsibilities and avoid policy violations.

Allianz home and contents insurance offers a range of benefits to policyholders, including a 10% discount for bundling home and contents insurance with other policies.

You can also choose to add optional extras to your policy, such as accidental damage cover, which provides protection for accidental damage to your home and contents.

If you're planning to travel to a foreign country, be aware that some tourist attractions may have specific rules or restrictions.

A valid passport is required for international travel, and it's essential to check the expiration date before booking a flight.

Some countries have strict dress codes, especially for visiting mosques or temples.

Visitors to Japan are often required to remove their shoes before entering a traditional home or temple.

In some cultures, it's customary to bring a small gift when visiting someone's home, such as fruit or pastries.

It's also important to respect local customs and traditions, especially when participating in cultural events or ceremonies.

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In the 2022-2023 financial year, AFCA received a total of 1,275 complaints about Allianz's home and contents insurance products.

Allianz had a referral resolution rate of 41.49%, meaning 529 complaints were resolved at the registration and referral stage.

This is a significant number of complaints, and it's essential to understand the process involved in resolving them.

The high number of complaints may be a cause for concern, but it's also a sign that the complaints process is working to some extent.

A referral resolution rate of 41.49% suggests that Allianz is taking steps to address customer concerns, even if it's not perfect.

It's worth noting that the remaining 746 complaints were not resolved at this stage, and further action may be taken to resolve them.

Reviews of Allianz home and contents insurance are scarce online, making it hard to determine what current customers think of the policies. Unfortunately, Allianz stopped offering home insurance in 2017, so most reviews are old.

However, some customers on review site Feefo praise Allianz home insurance, stating the service they received was quick and all communication was easy. James McVey, for example, had a fire in his kitchen and was impressed with the company's response.

Reviews also hint that when it comes to price and value for money, Allianz home insurance customers were pretty satisfied. Very competitive pricing, fast, friendly and efficient service was noted by one satisfied customer.

A general trend on Feefo is that more recent reviews of Allianz Insurance tended to be more negative than older ones. However, it's worth noting that Allianz has won a range of Finder's customer satisfaction awards all across Australia.

Here are some pros mentioned in the reviews:

These are just a few points to consider when thinking about Allianz home and contents insurance.

Allianz Home and Contents insurance has some unique features compared to other providers. It offers higher benefit limits for certain items like jewellery and tools of trade.

However, it lacks other benefits like underinsurance protection and full building replacement, which are valuable features for many homeowners. This means you'll need to weigh the pros and cons before deciding if Allianz is the right choice for you.

From November 2024, Allianz policies with a start date from January 2025 will include flood cover as standard. If you purchase a policy before then, you'll need to add it as an optional extra.

To ensure you have the right level of cover, it's essential to calculate the replacement value of your home and contents. This will help you avoid paying out of pocket if you need to make a claim.

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Allianz Home and Contents insurance has higher benefit limits for some features compared to other home insurance providers, like jewellery and tools of trade.

However, it lacks underinsurance protection and full building replacement benefits that can be valuable for many homeowners.

From 9 November 2024, Allianz home insurance policies will include flood cover for those with a start date from 14 January 2025, but it will remain an optional extra for policies with start dates before 14 January 2025.

If you're looking for extra protection, you've got options. Flood cover is included in policies bought after 9 November 2024, but it's an optional extra for policies effective before 14 January 2025.

You can also add accidental damage cover to your policy, which can help with unexpected events like putting a hole through the wall. Electrical motor burnout cover is another option, which protects major household appliances like fridges and washing machines.

Portable contents cover is available, which covers the cost of replacing portable items like laptops or phones if they're stolen or damaged. Domestic workers' compensation is also an option, but it's only available in TAS, WA, and ACT.

Here are some of the additional cover options available:

Allianz's low expense ratio gives it more flexibility when it comes to pricing its policies.

This means they can offer lower prices than other insurers. Allianz has a low expense ratio, which is the price spent on creating policies compared to the amount earned from selling them.

This advantage could result in significantly cheaper home insurance policies offered through the LV brand.

Defaqto, an independent financial comparison site, awarded Allianz's most comprehensive home insurance policy 4/5 stars in 2017.

This suggests that the benefits offered were fairly extensive, but not the absolute best on the market for quality of coverage.

Allianz's basic home insurance policy received a lower rating of 2/5 stars, implying that it may not have offered satisfactory cover.

You get what you pay for, and it's possible that the basic coverage level may not be as comprehensive as the more expensive options.

Defaqto's star ratings are based on features and quality, not price, so it's not a direct comparison of value for money.

Allianz home insurance was considered good value for money based on customer reviews and the 4/5 star rating for comprehensive cover.

Data and information correct as of July 2019.

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Allianz home and contents insurance offers a range of policy management options to help you stay on top of your insurance needs.

Their online policy management portal allows you to view and manage your policy details, including your policy schedule, premium payments, and claim history, all in one place.

You can also set up automatic premium payments to ensure you never miss a payment, and receive reminders and notifications when it's time to renew your policy.

With Allianz, you can choose to pay your premiums annually or monthly, and they also offer a 10% discount for paying annually.

This flexibility and convenience can help make managing your insurance policy a breeze.

You can cancel your Allianz home insurance policy at any time, but there are some conditions to be aware of.

If you're within 14 days of buying the policy, you can cancel for free and get a full refund. However, since Allianz stopped offering home insurance policies in December 2017, this option is no longer available.

After the initial 14 days, you'll have to pay a £50 exit fee, plus insurance premium tax to cancel the policy. This fee will be deducted from your refund.

You'll be refunded for the unused period of your policy. For example, if your policy runs from September to September and you cancel in March, you'll be refunded for the 6 unused months.

You're wondering if Allianz home insurance is still available? Well, the short answer is no, you can't currently buy a standard Allianz home insurance policy, except for high-value home insurance.

However, it's worth noting that Allianz has a joint venture with LV, which may change the insurance landscape in the future. As of January 2020, Allianz will have sole ownership of LV's general insurance branch.

Here are some possible reasons why you might still want to look into Allianz home insurance, even if it's not currently available:

It's also worth mentioning that Allianz still offers high-value home insurance, so if that's what you're looking for, you can still consider them as an option.