building fees and related expenses - home bulding insurance


As part of your sum insured, under a typical home buildings insurance policy, the insurer will pay the reasonable costs of:

It will pay these costs only where they relate directly to that part of your home which suffers loss or damage. This cover is available if:


STATUTORY AUTHORITIES

As part of your sum insured, the insurer under a typical policy will also pay the extra building costs necessary to meet the requirements of any statutory authority. It will only pay these costs where they relate to rebuilding or repairing your home on the site. This cover is only available if:

The insurer will not pay the extra costs which result from any notice which a statutory authority served on you before your home suffered loss or damage.


INJURY TO OTHER PEOPLE OR DAMAGE TO THEIR PROPERTYLIABILITY COVER:

Under a typical policy, liability means your legal responsibility to pay compensation for death or bodily injury to other people, or damage to their property. This responsibility only arises if you have done something wrong or you are at fault. Liability cover is offered to you and your family as part of your replacement or indemnity policy.


WHAT YOU ARE COVERED FOR?

A typical policy will cover you and your family against legal liability for claims arising from incidents:

These incidents must cause:

Under a typical policy the most the insurer will pay in relation to any one incident under this section of the policy is $10 000 000. The insurer will also cover you and your family against your liability for legal costs when their lawyers act in connection with these claims. Any legal costs the insurer pay in relation to a liability claim are over and above the $10 000 000.