Protect your home buildings from unexpected events such as fire, theft, and storm.
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Loan Market Building Insurance

Save up to 10% on your first year’s premium when you purchase a new policy online 1,4

Option to increase your excess which may reduce your premium5

Pay by the month at no extra cost6

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With Ray White Building Insurance you can be covered if an unexpected event such as a fire, theft, or storm damages your most important asset, your home.

  • What's Covered
  • Features and Benefits
  • Optional Covers
  • Calculators
  • FAQs

What does Building Insurance cover?

Building insurance is designed to protect the physical structures and fixtures that make up your home buildings: from the house itself, to your garage, fences and paved driveways - even built-in appliances like hot water systems, air-conditioners and more.

The better you understand your policy, the easier it will be if you ever have to claim.

Here is a limited summary of the benefits of a building insurance policy. For full details of the standard terms, conditions, limits, and exclusions that apply please read the Home Product Disclosure Statement (PDS) and any applicable supplementary PDS before making a decision to purchase the insurance. The Home Buildings Key Fact Sheet (KFS) also sets out some information about the cover.

Select the cover to suit your needs.

Effective 22 February 2021

Building Insurance
Rebuilding and professional fees If you need to rebuild your home after total loss or damage, Building Insurance will help pay the reasonable costs of architects, engineers, surveyors and solicitors up to $5,000.
Cover for the unexpected Building Insurance offers protection for out of the ordinary but devastating events such as fire, storm and burglary.
Cover for storm damage Rest easy, within the first 72 hours following a storm, Building Insurance has got you covered for loss or damage caused by soil movement, landslide, mudslide or subsidence caused by a storm.
Making your buildings environmentally friendly If your buildings are totally destroyed and need to be rebuilt, in addition to your buildings sum insured, Building Insurance will pay up to $5,000 (after deduction of any government or council rebates) to help you make the new buildings more environmentally friendly.
Alternative accommodation for you and your pets If your building is damaged by an insured event during the period of insurance to such an extent that you can’t live in your home buildings, we pay the additional costs for temporary accommodation for you up to 10% of the building sum insured and up to $500 for temporary accommodation for your pets in a commercial boarding establishment.
Replacement locks Building Insurance will cover the cost, up to $1,000, to replace the locks or cylinders of any external door or window following an actual or attempted theft or burglary if the key is stolen or you believe the key has been copied
Vandalism or malicious damage Building Insurance will cover you for loss or damage caused by vandalism or a malicious act.
Debris removal In addition to your buildings sum insured, Building Insurance will pay up to 10% of your building sum insured for the removal of debris from the damaged or destroyed part of the buildings.
24/7 claims assistance When you need to make a claim Allianz are there for you with 24 hour claims logement available online, or you can call the claims line to commence the claims process over the phone.
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Optional covers

Apply to add any of these optional covers for an additional premium and greater cover.

Building Insurance
Optional cover – Accidental damage The accidental damage cover option helps protect you in the event of accidental unexpected mishaps that are caused unintentionally – giving you greater coverage for your home building.
Optional cover - Motor burnout The Motor burnout option covers you if an electrical current damages your household electrical motors. This cover is automatically included if you have taken optional Accidental Damage cover.
Optional cover - Flood cover Flood cover may be available as an optional cover to your buildings. A 72 hour exclusion period applies.
Optional cover - Domestic workers’ compensation cover Cover for a domestic worker (e.g. gardener or cleaner), if they are injured while working for you at the insured address. Only available in ACT, WA and TAS.
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Home Building Calculator

It’s up to you to decide the sums insured and the type and level of cover that you want to take out. People generally want enough insurance to cover the property’s estimated replacement value. If you don’t have enough cover, you could end up having to cover some of the costs yourself. Remember, we will only pay up to the amount of your loss or the sum insured, whichever is the lesser (subject to the policy terms and conditions) - so you should also be careful not to over insure. That’s why we’ve provided the calculator. It works as a guide to help you estimate the replacement value of your home building.

Home Building replacement calculator

Value my home

Frequently asked questions

What do I do if I need to make a building insurance claim?

Do what you reasonably can to prevent any further loss, damage or liability. Tell the police as soon as reasonably possible about any malicious damage, theft, attempted theft, burglary or loss of insured property. Contact the Claims Call Centre on 1300 958 786 and advise the Claims Consultant of what has happened: the Claims Consultant will help you through the buildings insurance claims process.

In order to be sure that you are covered under this policy you should always contact us for approval before you incur expenses you wish to claim. If you do not, we will pay for expenses incurred to the amount we would have authorised had you asked us first.

Am I covered for Flood?

Flood cover is an option on both Building and Contents in Home and Landlords policies. Please call us on 1300 958 786 to find out whether you are eligible for Flood cover. For full details of terms, conditions, limits, and exclusions of all our home insurance cover options, please refer to the relevant Home Product Disclosure Statement (PDS), any applicable supplementary PDS, and the Home Buildings Key Fact Sheet.

What do I do if I rent my home out to tenants?

If you’re renting all of your home out to tenants, cover is not available under our Home and Contents Insurance Policy. Cover is not available for these types of losses under our Home and Contents Insurance. If you rent out part of your home while you live at the same address, please contact us so we can determine if you are eligible for this product.

What does it mean if I take the Accidental Damage cover option?

This optional cover provides even more protection - it covers you in the event of damage caused by an accidental unexpected mishaps that are caused unintentionally, not just the specified insured events.

If you have Buildings cover only and select this option, examples of the sort of mishaps you’ll be covered for include when:

  • You accidentally smash a hole in the wall when you move some furniture
  • Your kids draw all over your walls

I would like cover for my portable contents with my Buildings cover, what are my options?

The option to include portable contents cover under your policy may only be applied for if you have Contents cover or both Buildings and Contents cover.

Your policy schedule will show which of the optional covers apply.

How do I know if I have optional covers on my policy?

You can apply to add these options to your policy when you start or renew it (or during your period of insurance by contacting Loan Market Insurance on 1800 142 020. If you’re not sure whether you have added these cover options, you can check your policy schedule.

How should I determine the replacement value of my buildings?

The replacement value of your buildings is not the same as the market value – you do not need to include the value of the land when calculating the buildings replacement value.

What is considered ‘unable to be lived in’?

Your home is unable to be lived in when it is so damaged that normal domestic activities like cooking, sanitation and personal hygiene cannot take place, and we agree that you cannot live in the home.

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Policy Documents and Key Fact Sheets

We do not provide advice based on any consideration of your objectives, financial situation or needs. Terms, conditions, limits and exclusions apply. Before making a decision please refer to the relevant Home Product Disclosure Statement (PDS), any applicable supplementary PDS, and the Home Buildings key fact sheet also available for reference.

Disclaimer

#By proceeding with a quote you agree to receive our Financial Services Guide from this website.

Concierge Group Holdings Pty Ltd ABN 95 105 230 046 AR 267687 trading as Loan Market Concierge and Loan Market Insurance arranges this insurance as agent for the insurer Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708. We do not provide any advice based on any consideration of your objectives, financial situation or needs. Terms, conditions, limits and exclusions apply. Before making a decision, please consider the product disclosure statement available at https://loanmarketinsurance.com.au. If you purchase this insurance, we will receive a commission that is a percentage of the premium. We may receive from Allianz, a percentage of the profit which exceeds the agreed profit threshold for Home and Landlord (excluding flood), Motor and Caravan policies arranged by us or renewed with Allianz in each calendar year, provided that the agreed premium threshold is met. Allianz also reimburses us for marketing costs we incur to promote its products, which is capped at a percentage of the premium earned on all policies arranged by us with Allianz in the prior calendar year. Ask us for more details before we provide you with services.

The Financial Services Guide - Loan Market Insurance can be viewed here.

1. Online discount
When you buy a new home insurance policy online a discount of up to 10% is applied to your first year’s premium, including for the following optional covers, if selected: Accidental damage, Flood, Motor Burnout and Portable Contents. The discount is not applied on renewal.

2. Combined
A discount of up to 10% for combining Buildings and Contents covers on one policy is applied to your premium for Building and Contents, Motor Burnout and Accidental damage cover where applicable. The combined policy discount does not apply to the optional Flood or Portable Contents covers.

3. No Claim Bonus
When you take out a new policy, we calculate your No Claim Bonus based on your home or landlords (as applicable) insurance claims history. To qualify for the maximum No Claim Bonus of 30%, home insurance customers must have had no Building or Contents insurance claims in the preceding five years. Landlord customers must have had no Landlord insurance claims in the preceding 3 years. However, customers who have had claims may still qualify for a reduced No Claim Bonus.

4. Minimum premiums
If you are eligible for more than one discount, Allianz applies them in a predetermined order. This means any subsequent discount will be applied to the reduced premium amount after applying any prior discounts and the effect of the subsequent discount will be reduced. For example, the aggregate effect of applying two 10% discounts consecutively means that you will not see the full benefit of both these discounts.
Discounts do not apply to taxes or government charges.
Discounts do not apply to optional covers for Domestic Workers Compensation / Landlord Workers Compensation, and may not apply to other optional covers (if available and selected).
Any discounts/entitlements may be subject to rounding and may only apply to the extent that any minimum premium is not reached.

5. Option to change your excess
Not available when an additional compulsory excess or imposed excess applies. Minimum Premiums apply.

6. Instalment premiums
If you choose to pay your premium by instalments you do not pay us 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.

Prefer to talk?
1800 142 020 New Policies
1300 958 786 Current Policies