Hume Bank Home & Contents Insurance

Hume Bank VIC Customer owned institution

Hume Bank is a provider of home and contents insurance, renters insurance, landlord insurance, savings accounts, home loans, credit cards, car loans, personal loans, and other insurance products.

Compare Hume Bank Home and Contents Insurance

The table below displays a snapshot of Hume Bank’s home and contents insurance policies on Canstar’s database. The results are based on a policyholder under 50 years of age in Victoria for building and contents worth less than $550,000. If you are considering a Hume Bank home and contents insurance policy, check upfront with Hume Bank and read the PDS to confirm the details of the policy and whether it meets your needs before committing to it.

What do Hume Bank Home and Contents Insurance policies cover?

Hume Bank offers buildings insurance, contents insurance and combined buildings and contents insurance.

Hume Bank offers three levels of coverage across its home and contents insurance policies:

  • Vital – covers events such as accidental breakage of glass, earthquake, tsunami, explosion, fire or smoke, impact damage, lightning or thunderbolt, malicious acts, riot or civil commotion, storm, rainwater or run-off, theft, burglary or housebreaking, water or other liquid damage.
  • Classic – covers the same events as Vital but generally offers a higher amount of coverage.
  • Prestige – covers any accidental loss or damage unless specifically excluded.

Buildings Insurance

Hume Bank says its buildings insurance policies include the following features:

  • Compensation for death
  • Continuation of cover when you are selling your buildings
  • Environmental benefits
  • Mortgage discharge costs
  • Legal liability cover
  • Rental costs after an insured event
  • Replacement of locks or cylinders

Contents Insurance

Hume Bank’s contents insurance policies include the following features:

  • Compensation for death
  • Contents in the open air at the risk address
  • Contents in a safe deposit box at a bank (excluding theft)
  • Credit cards
  • Emergency storage of contents for up to 12 months
  • Guest, visitor and domestic helper property
  • Legal liability cover
  • Replacement of locks and cylinders
  • Security firm attendance
  • Temporary removal of contents from your risk address for up to 90 days
  • Vet costs if dog/cat injured in road accident

Buildings and Contents Insurance

Hume Bank buildings and contents insurance offers all of the above benefits of both buildings insurance and home contents insurance in a combined package. At the time of writing, you can save up to 10% when you buy both buildings and contents cover on the one policy.

For a complete list of inclusions and exclusions, make sure to read the Product Disclosure Statement (PDS).

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Hume Bank Home and Contents Insurance FAQs

Building insurance generally covers any part of your house that is permanently fixed and not intended to move, such as your walls and roof, and even the light on your front porch. Contents insurance generally covers the items within your house that are not permanent fixtures, i.e. you could move them between houses.

As a renter, you generally don’t need home insurance because your landlord should have insurance for the building you live in, and if you live in a unit, apartment or townhouse, the body corporate is legally required to have building insurance for the building. But you may want to consider getting contents insurance to protect your own possessions.

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Hume Bank offers a separate renter’s insurance policy that covers your possession against events such as fire, theft, storm and water damage. There is also the option of adding personal effects cover for portable items you wear or carry with you out and about.

For landlords, you can consider home or landlord insurance. Landlord insurance is designed to cover you for many of the same things as a home insurance policy, but with several additions to cover you against risks related to having tenants occupying your property.

Hume’s landlord insurance policies offer cover for a range of insured events (think fires, storms, theft, malicious damage by tenants etc.). It also offers the option of adding rent default and theft by tenant.

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If you have a recent and accurate estimate of the value of your home and contents, then you could consider insuring up to that particular sum.

If you don’t have an accurate idea of the above value, then you could consider insuring for a complete replacement.

You can make a claim with Hume Bank via the online claim form or over the phone.

Hume Bank recommends you have the following information at hand before submitting a claim:

  • Your policy information
  • Information about the incident such as the date, where the damage occurred, and any other people, vehicles or property involved.

Hume Bank was founded in 1955 as the Hume Co-operative Building & Investment Society in Albury. Hume Bank has been in the Albury-Wodonga region for more than 60 years.

Starting with three employees and 58 customers, today Hume Bank says it operates across Australia, employing 150 staff members and serving over 58,000 customers.

Hume Bank Classic Home & Contents Insurance

Canstar Research (based on Victoria Home & Contents Low Sum Insured General)
Rating:
Award: Outstanding Value

Written by: Tamika Seeto | Last updated: February 8, 2019