Do you need home emergency cover in Australia depends on age of home, savings, whether you are landlord and risk tolerance. Home emergency cover costs $50 to $150 per year as add-on to building insurance, covering 24/7 call-out for burst pipes, blocked drains, electrical failure, heating failure, broken locks and roof leaks, with repair up to $500 to $1,000 per event. You need it if you have old home over 20 years with old plumbing and wiring, as emergency plumber call-out at night costs $300 to $600 plus parts $100 to $300, electrician $300 to $500, locksmith $250 to $400, so one emergency per year can cost $500 to $1,000, more than cover cost $100. You need it if you do not have emergency fund $1,000 to $2,000 for unexpected repairs. You need it if you are landlord, as tenants can call helpline 24/7 without landlord having to arrange, reducing hassle and preventing water damage $5K to $20K. You may not need it if you have new home under 10 years with new plumbing and appliances under warranty, with savings $2,000, and you have reliable trades contacts. In UK where boiler breakdown 1 in 4 per year, need is higher. So you need home emergency cover if old home, no emergency fund, landlord or want peace of mind for $100 per year versus $500 call-out, but may not need if new home, handy or have savings and trades contacts.
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