Building Insurance
What is Building Insurance?
Westpac Building Insurance, provided by Allianz, covers your home's physical structures and fixtures including your garage, fences and paved driveways. It also includes built-in appliances like hot water systems and air-conditioners.
Why Westpac?
One less step
Sort out your insurance and banking together.
Flexible payment options
No extra cost to pay by the month so you can better manage your budget.2
All in one place
See your insurance policies next to your bank accounts in the App.1
Comprehensive cover
Insure your home for storm damage, floods and bushfires.*
Award winning value
Westpac has been recognised with the 2024 Canstar Outstanding Value Home & Contents and Home Insurance awards.
Cover for the big and small events
- Flood
- Fire or smoke inc. bushfires
- Lightning
- Storm, cyclone, rainwater or run-off
- Impact damage
- Riot or civil commotion
- Earthquake or Tsunami
- Theft or burglary
- Water or liquid damage
- Explosion
- Vandalism or malicious damage
- Accidental breakage of glass or ceramic items
Benefits for you
Included additional benefits
Get accommodation for you, your family, and your pets if your home can’t be lived in. Your policy also covers debris removal, and professional fees if you need to rebuild.
Boost your cover with optional extras
For an additional premium, you can add Accidental Damage (including Motor Burnout), or Motor Burnout on its own, and tailor your cover to suit your needs.
Simple online quote
It’s easy to get a quote and find out how much you’ll pay each month.
Already started a quote? Retrieve your quote
Tools and calculators
Calculators are intended as a guide only.^
The details on what’s covered
We've summarised some of the key things you should know.
For full details, of the terms, conditions, limits and exclusions that apply please read the Product Disclosure Statement (PDS) (PDF 991KB), and the Home Building Key Fact Sheet (KFS) before making a decision to purchase the insurance.
Frequently asked questions
Are there exclusions?
All insurance policies have exclusions, and these vary depending on the type of cover you choose. For a summary of the exclusions, conditions and limits that may apply to Building Insurance visit the Understanding my cover section.
Does the condition of my property affect my cover?
It is important to keep on top of your home repairs to ensure little things don’t become a bigger issue down the track. For example, if a storm caused water damage to your ceiling, you may not be fully covered if the water entered because your roof was not properly maintained.
What if I run a business from home?
You can have a home office, but it’s important to tell Allianz if you plan to use any part of your home as a business premises. If you don’t let them know, and you need to make a claim, your claim may be declined or reduced.
What if I rent out my home?
A Home Building Insurance policy does not cover your home or belongings if you rent your home to tenants. You should consider Landlord Insurance.
If you rent out part of your home while you live at the same address, contact Allianz to see which cover may be right for you.
Do I need to tell Allianz that I’ve changed the security on my property? For example, by adding or removing an alarm system.
Yes. Altering the security on your property may change the conditions of your home insurance, which could affect your premium. You should call Allianz as soon as you remove or stop using any security devices that were specifically required under your policy. If you don’t let them know, and you need to make a claim, your claim may be declined or reduced.
Do I need to let Allianz know about any home renovations?
Yes. You should let Allianz know before work commences if the building alterations, additions, demolition, repairs or decorations are over $75,000. If you don’t let them know, and you need to make a claim, your claim may be declined or reduced.
You should also consider increasing your sum insured to include the cost of any extensions or renovations to make sure you are adequately covered if you need to make a home insurance claim.
Things you should know
*72 hour exclusion period may apply. Allianz doesn’t provide cover for any loss of or damage to your property caused by cyclone, flood, grassfires and bushfires, during the first 72 hours after you first purchase a policy or increase your cover under an existing policy. For full details of conditions and exclusions please refer to the relevant PDS.
^The Building and Contents calculators, provided by Allianz through a third-party provider, are intended as a guide only. For a more accurate rebuilding or replacement cost, consider obtaining a professional valuation from a licensed builder or professional valuer.
1Policy holders need to ensure their personal details on their policy match with their Westpac accounts. Only primary policyholders can see policies alongside their other Westpac accounts.
2Instalment premiums: If you choose to pay your premium by instalments you do not pay any more than if you pay your premium in one lump sum annually. The premiums payable by instalments may be subject to minor adjustments (upwards or downwards) due to rounding. Note: Your financial institution may apply transaction fees to instalment payments.
For the standard terms, conditions and exclusions about Home & Contents Insurance, please refer to the relevant Product Disclosure Statement (PDS) and any supplementary PDS (if applicable). To see some of the events covered and not covered, please refer to the Key Fact Sheets (KFS)
Home and Contents Insurance is issued by Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 (Allianz). Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714 (the Bank) arranges the initial issue of the insurance under a distribution agreement with Allianz, but does not guarantee the insurance. This information does not take into account your personal circumstances. Before making a decision, please consider the relevant Product Disclosure Statement. For more information call 1300 650 255.
If you take out Home and Contents or Landlord Insurance with Allianz the Bank will receive a commission of up to 12% of the premium, excluding Government fees and charges, plus GST.
A target market determination has been made for this product. Please visit www.westpac.com.au/tmd for the target market determination.
By selecting 'Get a quote' you will enter a third-party site hosted by Allianz. Any personal information you provide to Allianz’s hosted site will be collected, used and disclosed in accordance with Allianz’s Privacy Statement and Privacy Policy.
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