Guild Insurance for Home & Contents: 2019 Review

Guild Insurance is an insurer that offers a wide range of policies, including home and contents insurance. But what’s really great about the company is that you can also get car insurance, life insurance, and travel insurance through them. This means you can get multi-policy discounts.

Because they have their origins in the Pharmacy Guild of Australia, Guild Insurance adheres to a rather high standard. The Guild Insurance Claims Satisfaction Survey of 2016 shows that 9 out of 10 clients are happy to recommend them. And as a company that is 100% Australian, it’s easy to see why!

In this review, we’ll be focusing on their home and contents insurance options.

Home Essential Insurance

Guild Insurance offers two packages that are relevant to our review today.

First, there’s the Home Essential Insurance. This is a great option for many and is the Guild’s standard package. It includes three cover choices:

Home Insurance

This covers against loss or damage to your home and includes a lot of possible claims. For example, accidental glass breakages, natural disasters, fires, explosions – and a whole lot more! The Home Insurance cover option also includes a safety net of 20% for rebuilding costs and alternative accommodation. You’ll also benefit from $20 million in legal liability cover.

Contents Insurance

Similar to the Home Insurance cover, Guild Insurance’s Contents cover insures your home’s contents against a wide range of damages. So if your possessions are damaged because of a fire or earthquake, or even a burst pipe or vandalism, you can put in a claim.

What’s really great about this policy is that it also includes nation-wide cover for your things while you’re temporarily away from your home. For example, if you travel domestically, you can still put in a claim.

Contents Insurance will also cover loss through theft and the cost of alternative accommodations. And if you need to pay to have damaged property removed from your home, Guild Insurance will cover the cost for you too.

Plus, you’ll still benefit from the $20 million liability cover!

Personal Property Insurance

It’s easy to get confuse this and Contents Insurance, but there is a difference.

While Contents Insurance is for specific items, Personal Property Insurance covers any unspecified items. And they can be located anywhere in Australia. However, there is a maximum payout of $1,500 per item and $10,000 in total. And if your property is somewhere internationally, it can still be covered for a period of up to 30 days while traveling. This is Unfoa great way to help you save on travel insurance premiums!

If you do go for this option, be sure to check your policy schedule’s limits. These will show you how much of your specified property has cover for loss and damages.

Home Elite Insurance

Your second option for Guild Insurance cover for home and contents is the Home Elite package. Just like Home Essential, there are three types of cover.

These are the same three policies, but they also have some extra features. We’ll take a look at most of these in better detail in the next section.

But it’s worth making one special mention here.

Personal Property Insurance is where the Guild Home Elite Insurance package really shines. Rather than a $1,500 per item limit, you’ll enjoy the cover of up to $2,500. And the total is also higher: $15,000 instead of $10,000. Another great extension is that international cover lasts up to 90 days. That’s three times longer!

Guild Insurance Pros

There’s a lot to love Guild Insurance for. Here’s a quick look at what the two packages cover like a pro.

Home Essential

  • A wide number of events are eligible for damages or loss claim.
  • Guild Insurance offers a new for an old replacement program that covers items lost or damaged.
  • 20% safety net.
  • You’ll enjoy a cover of your alternative accommodation costs during an emergency.
  • There’s also a 15% extra cover for reconstruction expenses.
  • $20 million liability cover.
  • If you get the Home and Contents Insurance combination online, you’ll also save up to 20% on your premiums!

Home Elite

In addition to all the benefits you’ll enjoy with Home Essential, you’ll also get:

  • Cover for flood damages and property loss.
  • And those higher payout limits for Personal Property Insurance.

Just like Home Essentials, the Home Elite package offers a 20% online discount.

Guild Insurance Cons

Unfortunately, nothing is perfect. There are a few exclusions that you might consider to be cons.

  • If a bush fire, grass fire, or cyclone causes damages or loss within 48 after you buy your cover, the insurance won’t pay out.
  • The same is true if damages or loss occurs after your home is unoccupied for 60+ consecutive days.
  • If you don’t have any extensions or renovations approved, then any damages can’t be claimed.
  • Consequential loss doesn’t qualify for pay out.
  • If you intentionally cause damage or loss, then you can’t claim it from your insurance. The same is true even if it isn’t intentional but happens because of illegal activities.
  • Government or local authority demolitions don’t qualify as eligible damages.
  • Any damages that take place during a construction period won’t qualify either. Nor will any that occur because of faulty workmanship.
  • Alterations, rennovations, construction, and repairs that exceed $75,000 aren’t included.
  • If the damages or losses are caused by electrial or mechanical breakdown, your policy won’t pay out.
  • Water seeping through your walls, floor, or ceiling will cause water damage. But your insurance doesn’t include this.
  • If you pay someone to cut down a tree or branch, or you do so yourself, any damages it causes aren’t eligible for a claim.
  • Damages and loss that happen because you don’t properly maintain the property or there are normal wear and tear. This also includes rust, rising damp, mildew, and corrosion.
  • Insects, birds, and vermin can cause damage, but the insurance policy doesn’t pay out for these.
  • If your property is taken away through legal action, you can’t claim it as a loss.
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