Residential Building and Contents Cover
The policy
Catholic Church Insurances Limited’s Residential Buildings and Contents policy is designed to cover residential properties such as private dwellings, convents, presbyteries and monasteries. New for old cover is provided on buildings and on most contents items. If contents cover is purchased, then personal effects and/or special valuables cover may be chosen.
For policies issued to clients (eg Diocese, Order) where there is an existing public liability policy issued by Catholic Church Insurances Limited, legal liability cover under the Residential policy is not required.
Where policies are issued to individuals (eg. privately owned homes) or where there is no other public liability policy issued by us, then legal liability cover of $20,000,000 is provided by the Residential policy.
Who needs this cover?
This policy is suitable for smaller dwellings with domestic style kitchens. It is not suitable for hostels, hospices, nursing homes or properties commercial in nature.
How do I determine whether a building is a residential building?
Residential building means:
- a building used principally and primarily as a place of residence on the site; and
- out-buildings used for domestic purposes, being purposes related to the use of the principal residence on the site
A residential building does not include:
- a hotel, motel, boarding house, retreat home, shelter
- homes for the aged (where any specialised care or treatment is provided), nursing homes, hospitals, hospices,
- a building under construction,
- a temporary building or structure or a demountable or moveable structure or a caravan.
If the overall character of the building falls within one of the categories in (i) to (iv) above, then it is non-residential.
If your building does not fall within definitions (a) and (b) above, or is used for both residential and business purposes, please contact us to discuss the options available to you.
Options / extensions
Some buildings may require alternative types of cover. The following options may be available:
- Modified reinstatement or replacement value. This is often suitable for older, historic buildings where in the event of a total loss a more functional building may be preferred.
- Indemnity/present value. This is where the building is insured for its present value, ie. replacement cost less depreciation. It may also be used where you do not intend to rebuild, in which case, the sum insured represents the cost of removal of debris and demolition type costs.
Significant features and benefits
The policy provides a number of additional covers [Opens new browser window].
Deductibles / excess
The following guidelines apply to Residential Buildings and Contents:
- Large old style convents, presbyteries and monasteries exceeding $500,000 in value are subject to a $500 excess
- The contents of any property occupied as a residence by religious or priests will be subject to a $100 excess
- The buildings of smaller presbyteries, convents, monasteries, private homes and the like will have a deductible of $100 where the building:
- has a normal domestic style kitchen and
- has six or less bedrooms and
- would be suitable for use as a normal residence
Limits of liability
The policy is limited to the sums insured as shown in the policy schedule and/or the sub-limits as specified in the policy.
GST, stamp duty and fire service levies
GST and stamp duty are added to premiums (unless exempted) at the legislated rates. In some states, a fire services levy may also be applied.
Taking out a policy
Catholic Church Insurances Limited will assist in obtaining information necessary for providing a quotation or issuing a policy.
Claims should be lodged with Catholic Church Insurances Limited as soon as possible by telephoning 1300 655 001.
Further information
For further information contact Catholic Church Insurances Limited on 1300 655 001.
Please note that this information sheet is not intended to replace the policy wording. It is designed for information purposes only and should be read in conjunction with the policy wording. For further information or a full copy of the policy wording please contact Catholic Church Insurances Limited on 1300 655 001.
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