What is difference between building insurance and home insurance in Australia, building insurance $1,200 to $1,800 per year for $500K building covers structure walls, roof, floors, permanent fixtures and $20M public liability against fire, storm, flood, theft, while home insurance, also called home and contents $1,500 to $2,500 per year for $500K building plus $80K contents, includes building plus contents personal belongings $30K to $80K like furniture, electronics, clothing and jewellery $2K to $10K. Building insurance, also called building cover, covers building structure $500K to $1M including walls, roof, floors, permanent fixtures like kitchen cupboards, bathroom, plumbing and electrical, plus $20M public liability if visitor injured $100K to $500K claim, against fire $500K rebuild, storm $10K to $50K, hail $10K to $30K, flood optional $20K to $50K, theft $5K to $20K and vandalism, costing $1,200 to $1,800 per year for $500K building. Home insurance, also called home and contents or combined, includes building insurance $1,200 to $1,800 plus contents insurance $300 to $800 per year for $30K to $80K contents covering personal belongings $20K to $150K including furniture $10K, electronics $10K, clothing $5K, jewellery $2K to $10K, appliances $5K and personal effects $1K against theft $5K to $20K, fire $80K and storm $10K to $50K, plus $20M liability, total $1,500 to $2,500 per year for $500K building plus $80K contents. For example, building insurance $500K $1,400 per year covers walls and roof $500K if fire, but not furniture $20K, TV $1K, clothing $5K, home insurance $500K building plus $80K contents $1,800 per year covers building $500K plus furniture $20K, electronics $15K, clothing $10K total $545K if fire $500K building plus $45K contents. So difference is building insurance covers structure $500K only $1,200 to $1,800 per year, home insurance covers building $500K plus contents $30K to $80K $1,500 to $2,500 per year, with home insurance = building + contents, building = structure only.
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