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«LISTED EVENTS HOME LISTED EVENTS HOME INSURANCE PRODUCT DISCLOSURE STATEMENT AND POLICY WITH FLOOD COVER This Product Disclosure Statement (PDS) has ...»

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How to cancel your policy

1. If you want to cancel your policy, contact us or your insurance adviser We may need your request in writing. If you cancel your policy before it ends, we will refund an amount for the unused premium.

How to change your policy

1. Contact us or your insurance adviser to change or vary your policy You will be sent an endorsement schedule that includes any changes or variations you have requested and we have agreed to, and any special conditions we may have applied to that agreement.

2. Check the changes

3. Pay your premium if it has increased We will tell you if your premium has increased. If you pay your premium by instalments, we will adjust your instalments and continue to deduct the new amount from your nominated account. If you pay your premium in one lump sum, we must receive your additional payment within one month.

If you move to a new home

1. If you have buildings insurance and you move permanently to a new home within Australia The cover for your original home will end and we will refund any unused premium to you. We will provide you with temporary cover for 14 days at your new home.

If you would like to continue to insure your buildings with us, contact us or your insurance adviser as soon as possible.

We will advise you if there are any changes to your premium or the terms of your insurance.

2. If you have contents insurance and you move permanently to a new home within Australia We will cover your contents at both your original home and your new home for 14 days, starting from the date you start moving your contents to your new home.

You must tell us that you are permanently moving your contents to a new home within 14 days from the day you frst start to move.

We will advise you if there are any changes to your premium or the terms of your insurance.

Your premium

1. How we calculate your premium We will base your premium on the type of cover you have chosen, including any options that you have added, your sum insured, the excess, the type, location, construction and age of your buildings or contents, the level of security you have, your previous insurance and claims history, and any special conditions that we have applied.

Premiums are also subject to Commonwealth and State taxes and/or charges. These include the Goods and Services Tax and stamp duty.

Your premium, including any taxes and charges, will be listed on your schedule.

2. How to pay your premium You can pay your premium in one lump sum, or by instalments.

If you pay your premium in one lump sum, you can pay by cash, cheque or credit card.

If you pay your premium by instalments, you can pay by credit card or by direct debit from a fnancial institution.

We may cancel your policy if:

• you do not pay your premium

• your cheque or credit card is dishonoured by your fnancial institution, or

• you pay your premium by instalments and you are more than one month behind.

We may refuse to pay a claim if:

• you pay by instalments and at least one instalment of the premium has remained unpaid for a period of at least 14 days.

3. Interest on unallocated premium If we are unable to issue your insurance when we receive your application, we are required to hold your Premium in a trust account on your behalf until your insurance can be issued. We will retain any interest payable by our bank to meet, among other things, bank fees and other bank costs we incur in operating the account.

Your excess An excess is the amount you pay when you make a claim on your policy. The amount and type of excess that may apply to your policy is shown on your current schedule and in this PDS. In most instances you can select, at the time of your enquiry or application for insurance, the amount of the excess you wish to pay should you make a claim. When you select a higher excess amount we will normally reduce the amount of the premium you will have to pay.

We take into consideration a number of factors in setting the amount of the excess. These include factors relating to the type of property being insured, where the property is located, the type of construction and your previous insurance and claims history. At the time of your enquiry or application for insurance, the amount of the excess will be advised to you.

How To Make A Claim

1. Make sure you have all the information you need to support your claim

We will need:

• contact details of any other people involved in the incident, including their name, current residential address and who they are insured with

• any letters, notices or court documents about the incident within 72 hours of receiving them

• the incident report number for any claims in relation to

theft or attempted theft, vandalism or a malicious act:

– the Police will provide you with this number when you report the incident to them.

2. Contact us or your insurance adviser to make a claim You need to make your claim as soon as possible.

Any delays may:

• reduce the amount that we pay, or





• prevent us from paying a claim.

We will give you immediate advice and assistance with your claim, 24 hours a day, 7 days a week.

We will ask you a range of questions to help us assess

your claim. We may:

• ask you to provide us with proof of ownership

• need to inspect your buildings or contents

• need quotations from a repairer.

3. If you need emergency repairs If you need to make emergency repairs, we will arrange assistance through our preferred repairers and suppliers.

How we settle a buildings claim

1. We will decide how we will settle your claim If your buildings suffer loss or damage, we will decide

whether to:

• repair

• rebuild, or

• pay you the cost to repair or rebuild that part of your buildings that suffered loss or damage.

If we do, we will:

• pay you up to the buildings sum insured, as listed on your schedule

• only repair, rebuild or pay you for the part or parts of the building that actually sustained loss or damage, including damaged portions of fxed coverings to walls, foors and ceilings only in the room, hall or passage where the damage occurred.

• try to match any material used to repair your buildings with the original materials or nearest equivalent available to the original materials

• repair or pay you the costs to repair your buildings if the loss or damage was caused by water or liquid that escaped from a bath, basin, sauna, spa, shower

base or shower wall, however:

– we will not pay the costs to repair or replace the bath, basin, sauna, spa, shower base or shower wall.

When we settle your claim, the law that will apply is the law of the state or territory where the loss, damage or liability occurred.

2. You must pay any excess that applies If you make a claim, you will need to pay any excesses that apply.

If you are claiming for any loss or damage that occurs as a result of an earthquake or tsunami, you will need to pay an additional excess of $250. This loss or damage must occur within 72 hours of the earthquake.

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3. If we decide to repair or rebuild your buildings and your current schedule shows ‘including replacement benefit’ We will repair or rebuild the part of your buildings that suffered the loss or damage to a condition as close as possible to when new, but not better.

If we rebuild your buildings, we will also pay the amounts that you need to pay to ensure your buildings comply with government legislation and local authority bylaws,

unless:

• you were required to pay these amounts before the loss or damage occurred, and you did not do so.

You can choose your own repairer or tradesman or we can help you fnd one.

If we authorise repairs, we will deal directly with the repairer or tradesman about payment.

4. If we decide to repair or rebuild your buildings and your current schedule does not show ‘including replacement benefit’

We will:

• repair your buildings to the condition they were in just before the loss or damage occurred

• pay you the cost of repairing your buildings to the condition they were in just before the loss or damage occurred, or

• pay you what the value of the land and your buildings was just before the loss or damage occurred, after deducting the amount we estimate as the value of your land and buildings after the loss or damage occurred.

5. After we agree to settle a claim The repair or rebuilding work on your buildings must start within six months of the loss or damage occurring, otherwise you will have to pay any increase in cost caused by the delay.

If the work does not commence in this period, we will

do one of the following:

• repair your buildings to the condition they were in just before the loss or damage occurred

• pay you the cost of repairing your buildings to the condition they were in just before the loss or damage occurred, or

• pay you what the value of the land and your buildings was just before the loss or damage occurred, after deducting the amount we estimate as the value of your land and buildings after the loss or damage occurred.

6. If your building is a total loss We will pay you the sum insured for your buildings, as listed on your schedule, after deducting

• any excess

• any unpaid premium, and

• any input tax credit you would have been entitled to under A New Tax System (Goods and Services Tax) Act 1999 if you had paid to repair or rebuild your buildings.

If we pay you the sum insured, then your policy comes to an end, subject to any continuing liability cover and no refund of your premium is due.

See also Liability cover – when your buildings are a total loss, page 26  How we settle a contents or valuable items claim

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2. You must pay any excess that applies If you make a claim, you will need to pay any excesses that apply.

If you are claiming for any loss or damage that occurs as a result of an earthquake or tsunami, you will need to pay an additional excess of $250.

This loss or damage must occur within 72 hours of the earthquake.

You must pay any excess to us, or to the supplier or repairer – we will tell you who to pay the excess to.

If we choose to pay you, we may deduct the amount of excess from the amount we settle your claim for.

For the excess that may apply, see your current schedule

3. If we decide to repair your contents or valuable items We will repair the damaged item to the condition it was when new.

If the item we are repairing is part of a pair, set, collection or system, we will only cover the part of the pair, set, collection or system that was damaged.

4. If we decide to replace your contents or valuable items We will replace the item with the nearest equivalent new item.

We will only replace wall, foor and ceiling coverings, including carpets, internal blinds and curtains, in the room, hall or passage where the loss or damage occurred.

We will not pay to re-carpet adjoining rooms, or your entire home.

Any salvage becomes our property.

5. If we decide to pay you the cost to repair or replace your contents or valuable items We will pay you the fair and reasonable costs to repair or replace your contents or valuable items as described

in Steps 1, 3 and 4, after deducting:

• any excess, and

• any input tax credit you would have been entitled to under A New Tax System (Goods and Services Tax) Act 1999 if you had paid to repair or replace your contents or valuable items.

We will only pay the cost of replacing an item that is part of a pair, set, collection or system, even though the pair, set, collection or system to which it belongs is less valuable because it is incomplete.

Any salvage becomes our property.

6. If we decide to settle a claim We will reduce any payment for damage to, or loss of, any other valuables or special valuables item by the amount we pay you for the same item under contents cover.

Claim payment examples These claim payment examples show you how a claim settlement may be calculated based on some practical scenarios. Any actual claim settlement amount will depend upon the facts of each case.

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How to resolve a complaint or dispute

1. Talk to us first If you have a complaint, the frst thing you or your insurance adviser should do is speak to a staff member in the area concerned. If your complaint relates specifcally to a claim, speak with the claims offcer managing your claim.

If the staff member or claims offcer are unable to resolve the matter for you, you or your insurance adviser may speak to a manager. If you are not satisfed with the decision, you can go to step 2.

2. Seek a review If the matter is still not resolved, the manager will refer you or your insurance adviser to the relevant internal dispute resolution area who will conduct a review of your dispute.

If you are still not satisfed with the decision, you can go to step 3.

3. Seek an external review You are entitled to seek an external review of the decision. The dispute resolution area will provide you or your insurance adviser with information about the options available to you, such as referring you to the external dispute resolution scheme administered by the Financial Ombudsman Service (FOS).

Further information about the complaint or dispute resolution procedures is available by contacting us.

See back cover for contact details P

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