Building insurance

The amount you insure your home for (we call that the ‘building sum insured’) should be enough to rebuild your home if you had to do it today.

Remember, when we talk about your home, we don’t just mean the building itself. If you have things like fences, sheds, in-ground pools, or covered car spaces, they count too. There are a few things to think about:

• If you underinsure your home, you may be caught short if you have to totally rebuild and replace it
• If you insure your home for more than it costs to rebuild and replace it, you'll only be able to claim the actual cost to do so
• Your building sum insured will be different to the market value of your home, which you might find on a property valuation, because it doesn't include the land value 
• Make sure you include the cost of demolition and debris removal, building and planning professionals, plus any statutory or regulatory requirements

You can use our buildings calculator as a guide.*

You can. The calculator is a guide – if the figure doesn't seem right, you can change it.

It's important to make sure you're not underinsured, in case you ever need to totally rebuild your home.

But keep in mind that if you insure your home for more than it costs to rebuild and repair it, you'll only be able to claim the actual cost to do so.

RACV Insurance doesn't cover damage to your home caused by vermin, rodents or insects (including termites).

For full details of what is and isn't covered, see the Product Disclosure Statement.

If you choose to add accidental damage to your Buildings Insurance policy, you'll be covered for any unintentional damage to your home or other structures on your property.

So, if you put your foot through the ceiling while you’re in the roof space or damage a wall while moving a ladder, RACV Insurance will help you sort it out.

Keep in mind that a $300 excess will apply for accidental damage claims.

Yes, it covers all the structures on your property – including garages and carports. When you're working out how much cover you need, make sure you include these structures.

So, if your garage is damaged in an insured event, like fire, flood, storm or even from a tree falling on it, you’re protected. 

Carpets are considered part of your contents, so if they're damaged as part of an insured event, they won't be covered by Buildings Insurance.

If you want protection for your carpets as well as your building, you can check out Combined Buildings and Contents Insurance. This way you'll also be covered for rugs, curtains, appliances and other things you keep in your home.

If you're insuring an investment property that you're renting out, you may be able to use some of your buildings cover to repair or replace your contents.

It depends on the work you're doing.

If you're making internal cosmetic changes like painting or replacing your carpet, you'll be covered for all usual insured events.

If you're doing bigger work, like adding a room or storey, or renovating your kitchen or bathroom, call us on 13 72 28 so we can help you check your cover.

We may ask you for information like:

• When you expect to start and finish the work
• How much it’s likely to cost
• Detailed description of the work, including which rooms are affected
• Who will live in your home during the work.

Yes, you can. You'll be paid the fair and reasonable amount that the repairs should cost, but you'll need to manage and arrange the repairs yourself. Otherwise, you can go with a qualified and reputable supplier from the RACV network. This can help take the hassle out of researching and comparing quotes. Plus, any repairs organised by RACV Insurance will have a lifetime guarantee.