What are three things property insurance could cover in Australia includes building, contents and liability, with property insurance covering home building, personal belongings and public liability for injuries on property. First, building or dwelling cover, covering structure of house, walls, roof, floors and permanent fixtures like kitchen cupboards, bathroom, plumbing and electrical wiring, plus garage and shed, with sum insured $500K to $1M for rebuild cost, covering fire, storm, flood, theft and vandalism, costing $1,200 to $1,800 per year for $500K. Second, contents cover, covering personal belongings inside like furniture, electronics, clothing, jewellery and appliances, with sum insured $20K to $150K, covering theft, fire, storm and accidental damage, costing $300 to $800 per year for $80K, with $20M public liability if you cause damage to others. Third, additional living expenses and emergency accommodation, covering hotel $5K to $10K if home uninhabitable due to insured event like fire, plus demolition and removal $20K and architect fees $10K. So three things property insurance could cover are building structure against fire and weather, contents belongings against theft and fire, and liability and emergency accommodation, with building covering walls and roof, contents covering furniture and electronics, and liability covering injuries on property.
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