Buy your home or an investment property

Article last updated: 20/05/09

For many people, the family home is the biggest single investment they make. Having so much money invested in one physical location is a significant risk – especially when you consider that houses are vulnerable to a number of common occurrences, such as fire, flooding, storm damage and burglary.

If your home or investment property was irreparably damaged or contents were stolen or damaged, the cost of replacement could affect your long-term financial goals.


Be smart about insurance
Despite increasing community awareness of these risks and the value of insurance, the Insurance Council of Australia has found that about a quarter of all households in Australia are still without home or contents insurance.

Of additional concern is the fact that more than two-thirds of tenants do not protect their property.

Statistics
• Each year there are over 10,000 house fires in Australia¹.
• Statistics show that in Australia someone is burgled almost every minute. According to the New South Wales Bureau of Crime Statistics only five per cent of break-and-enter crimes are solved by the police, meaning the chance of recovering stolen possessions is close to zero².
• Severe storms, floods, cyclones and bushfire can strike at any time with little warning, and can cause extensive damage to homes and their contents.