What house insurance covers in Australia, also called home building insurance, includes structure of house and permanent fixtures against fire, storm, flood, theft, vandalism and accidental damage. House insurance covers building itself, walls, roof, floors, plus permanent fixtures like kitchen cupboards, bathroom, plumbing, electrical wiring, plus outbuildings like garage and shed, with sum insured $500K to $1M for rebuild cost, costing $1,200 to $1,800 per year for $500K building. It covers fire including bushfire and smoke damage, paying full rebuild $500K. It covers storm, hail, wind damage to roof and walls, with repair $10K to $50K. It covers flood if flood included, many policies include flood, some exclude, check PDS, covering water damage $20K to $100K. It covers theft and vandalism damage to building like broken windows and doors, $500 to $5K. It covers accidental damage option if added, covering accidental breakage like hole in wall. It covers $20M public liability if someone injured on property. It covers demolition and removal $20K, architect fees $10K, and emergency accommodation $5K to $10K if home uninhabitable. It does not cover wear and tear, gradual deterioration, or contents, which is separate contents insurance $400 to $800 for $80K. So house insurance covers building structure against fire, weather, theft and liability, with flood and accidental damage as options, essential for mortgage.
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