2 March 2026 | See disclaimer
A certificate of currency is a document that your insurance company can provide as proof to your mortgagee that your policy is current and that they are noted as having a financial interest in the property. It outlines your sums insured, premium amount, policy expiration date, and notes the mortgagee that has a financial interest in your home as proof of your insurance. [1]
If you’re taking out a home loan to purchase a property, you’ll need to provide a certificate of currency insurance to your lender before the loan settles as a condition of the loan.
This document conveys to lenders that their financial interest in your home is protected against certain insured events as outlined in your home insurance Product Disclosure Statement (PDS).
What is in a certificate of currency?
| Policyholder's name and details | The names of the policyholder. |
| Insured property address | The address of the property covered by the policy. |
| Policy number | The policy number that covers the property. |
| Period of insurance | The start date and the expiry date of the policy. |
| Interested party or mortgagee details | The lender or bank's name is mentioned as the interested party. |
| Sum insured | The amount that the policy covers the insured address for. |
| Premium paid | The amount of premium paid. |
| Insurer details | The name of the policy issuer and who underwrites the policy. |
The sum insured on your policy is the maximum amount your insurer will pay if your claim is accepted. It’s important that your sum insured accurately reflects the current rebuilding costs of your home and the replacement value of your contents inside. This means if your home is damaged due to an insured event and your claim is accepted, your insurer will pay up to your sum insured amount, as listed on your policy.
When you have a mortgage noted on your insurance certificate for your insured home building, if we’ve agreed to pay a cash settlement for your claim, we may be required to pay the outstanding mortgage amount first. Any remaining balance of the cash settlement will be paid to you.
It can be difficult to determine how much home insurance you need. If you’re unsure how to estimate a figure, our Home and Contents replacement cost calculators can help you decide on your sum insured amount to prevent any financial gaps that may leave you out of pocket.
Mortgage lenders, such as banks or credit unions, are also listed on the certificate of currency as interested parties. This protects the lender from unexpected loss or damage to the home, confirming that the property is insured against events such as fire, storms and earthquake. Having home insurance and a certificate of currency to reflect the policy can protect the lender and homeowner from costly damage.
Are you heading into the home-buying journey?
Find out when you should take out your home insurance policy, what your policy should cover, and why you may want to purchase Home Insurance before settlement.
When do you need to provide a certificate of currency?
You’ll need to provide a certificate of currency to your lender before property settlement, when applying for a home loan or refinancing your mortgage.
It’s worth noting that you generally won’t need a certificate while building a home — as this is covered by the builder’s insurance — or if you’re purchasing a unit or apartment where the insurance is covered by strata. You will need to ask your Strata manager to provide the certificate of currency for proof of building insurance to your selected lender. [2]
If you own a rental property, it’s worth considering landlord insurance. For all investment loans, a certificate of currency listing the interested party is required, and until this condition is met, the lender will not settle the loan.
Requesting a Certificate of Currency from Your Insurer
To request your certificate of currency, you can do so online when purchasing the policy, over the phone or by email. If you’re an existing customer with Budget Direct, you can easily download your certificate of currency when you access your Policy Manager online or contact us to email it to you.
If you’re purchasing a new home, we recommend requesting your certificate of currency well in advance of the settlement period to ensure you have enough time so as to avoid any unnecessary delays in your settlement. When financing a property, your lender will typically require that insurance is in place from settlement date. Make sure your certificate of currency shows a start date on or before settlement, so everything is in order when your lender does their final checks.
Quote First with Budget Direct Home Insurance
Having Home Insurance from the day you settle offers protection for your new home.
