Mortgage Choice Home & Contents Insurance

Mortgage Choice

While it may be best known as a provider of home loans, Mortgage Choice also sells home and contents insurance, car insurance, personal insurance, lender mortgage insurance, car loans, business lending and credit cards.

What do Mortgage Choice Home and Contents Insurance policies cover?

Mortgage Choice offers three types of home and contents insurance:

  • Prestige Home – the only policy type that includes accidental loss or damage cover and generally provides the highest level of cover offered
  • Classic Home – includes accidental loss of or damage to your vehicle caused by fire or theft
  • Vital Home – coverage is similar to Classic Home insurance however generally the sum insured is lower

Mortgage Choice’s home and contents policies offer coverage for a range of insured events including accidental breakage, fire or smoke, impact damage (such as from a vehicle or falling tree), storm, theft and water damage.

At the time of writing, you can get an up to 30% no claim bonus on home insurance policies. This means that you can save up to 30% on your premium each year you don’t make a claim.

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Buildings Insurance

Mortgage Choice says its buildings insurance includes benefits such as:

  • Compensation for death
  • Continuation of cover when selling your buildings
  • Fusion of electric motors
  • Landlord’s contents (Classic and Vital insurance only)
  • Legal liability
  • Modifications to buildings for paraplegia & quadriplegia
  • Mortgage discharge costs
  • Removal of debris, professional fees and extra costs
  • Rental costs after an insured event
  • Replacement of locks or cylinders

Contents Insurance

Mortgage Choice’s contents insurance offers a range of benefits including:

  • Additional cost of temporary accommodation
  • Compensation for death
  • Contents in a safe deposit box at a bank
  • Contents in the open air at your risk address
  • Credit cards – cover for loss or theft
  • Fusion of electric motors (Prestige and Classic insurance only)
  • Guests, visitor and domestic helper property
  • Legal liability – cover for injury to other people or their property
  • Removal of debris, professional fees and extra costs
  • Replacement of locks or cylinders
  • Security firm attendance
  • Spoilage of perishable food (Prestige and Classic insurance only)
  • Temporary removal of contents from risk address
  • Vet costs

Buildings and Contents Insurance

Mortgage Choice 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, when you combine your buildings and contents cover on the same policy, you can receive a discount of up to 10%.

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

Canstar does not currently compare Mortgage Choice home and contents insurance, but you can compare other home and contents providers on Canstar’s database:

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Mortgage Choice Home and Contents Insurance FAQs

As a renter, you generally don’t need home insurance. This is 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. However, you should consider getting contents insurance to protect your own possessions.

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.

Mortgage Choice’s landlord insurance policies offer you cover for a range of insured events (such as accidental breakage of glass, theft and storm). You can also add rent default and theft by a tenant as an optional extra.

Canstar does not currently compare Mortgage Choice landlord insurance, but you can compare other landlord insurance providers on Canstar’s database:

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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 Mortgage Choice over the phone.

Mortgage Choice advises that it may not pay your claim unless you:

  • Take all reasonable precautions to prevent further loss, damage or liability
  • Contact the police
  • Keep evidence of loss or damage
  • Contact Mortgage Choice as soon as possible

Mortgage Choice was established in 1992 and says its aim was to create a national network of mortgage brokers. Mortgage Choice has since become a fully-fledged financial services provider.

Written by: Tamika Seeto | Last updated: February 13, 2019