How much do I insure my home and contents for?
Your sum insured should reflect the full cost to rebuild or replace your home and contents at today's prices, should you ever need to. Material costs are currently being driven up by an increase in home building activities and supply chain issues as a result of COVID-19 and lockdowns. The cost to rebuild on a new-for-old basis can be more than the market value of your home due to materials, labour and current building laws. You should check your home sum insured to ensure it's sufficient in today's market.
You can update your home and/or contents sum insured at any time in My RACQ under the Insurance overview tab.