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How do I make a home insurance claim?
When making a claim on your Budget Direct home and/or contents policy, please follow these steps:
- Take all reasonable steps to prevent or minimise further loss, damage or liability.
- Report any theft (or attempted theft), malicious damage or vehicle impact to the police as soon as possible.
- Lodge a claim, providing us with the full details of the incident and any relevant supporting documents.
Is there a time limit for making a home insurance claim?
There’s no time limit for making a claim on your Budget Direct home insurance, however we recommend you lodge your claim as soon as possible.
(Even if you don’t lodge your claim straight away, you must take all reasonable steps to prevent or minimise further loss or damage – otherwise, it could affect your claim.)
When making a home insurance claim, am I required to provide proof of loss or damage (e.g. receipts)?
Allowing us to assess the damage or loss is usually all that’s required to prove it.
If an item has been lost or stolen and can’t be assessed, we may ask you to provide evidence of ownership and value.
This evidence could include:
- purchase receipts
- credit-card statements
- serial numbers
- owner’s manuals
- guarantee or warranty certificates
- photos or videos of your item
- product packaging.
If evidence is required to support your claim, please email it to [email protected]
A water pipe in my home has burst – what do I do?
Turn the water off at the mains and/or contact an emergency plumber to stop the leak.
Then call us on 1800 069 336 and we’ll arrange for the water and any damaged flooring to be removed and send an assessor to your home.
A tree has fallen on my house – what do I do?
If anyone in your house has been seriously injured, dial 000.
If the fallen tree threatens your family’s health and safety, contact your state emergency service on 132 500.
If it’s not an emergency, call us on 1800 069 336; we’ll arrange to get the tree removed after assessing the damage to your home.
Should I make a home insurance claim or not?
It’s entirely up to you whether to claim on your home insurance policy.
The main thing to consider is the cost of repairing or replacing the loss or damage to your home and/or contents.
If the cost is less than your excess, it would not make sense to claim as you’re responsible for paying the entire bill.
If the cost is more than your excess, then it would make sense to consider claiming as we’ll pay the difference between your excess and the repair or replacement cost, up to your sum insured.
Are home insurance claim payouts taxable?
According to the Australian Taxation Office (ATO), home insurance claim payouts are not considered income and so do not need to be declared in your tax return.
However, if part of your home is used for a business, the insurance payout may need to be taken into account for capital gains tax purposes.
Also, if you’re registered for GST and entitled to claim an input tax credit (ITC) on your premium, you’ll need to notify us of this entitlement each time you claim.
The claim settlement amount we pay you may be reduced to reflect your ITC entitlement.
(Budget Direct does not insure all types of business use; to find out whether your business use is acceptable, contact us.)
This information was obtained from the Australian Taxation Office (ATO) and was correct as of 1 November 2019.
For more information, visit the ATO’s ‘Insurance payouts’ web page and/or speak to a tax advisor or accountant.
How do I complain about an insurer’s decision to deny my home insurance claim?
If you’re unhappy with any of your home insurer’s decisions or actions — including a denied claim — you may make a complaint.
Budget Direct’s complaints process is as follows:
Step 1: Speak to us
We want to resolve any complaint or dispute for you as quickly as possible. The best place to start is to contact our customer service team.
Step 2: Our team will help you
We will acknowledge your complaint within 24 hours of receiving it or as soon as practicable.
Our team will try to resolve your complaint immediately and will provide you with a unique reference number.
If we are unable to resolve your complaint to your satisfaction within 5 business days, we will escalate it to our Customer Disputes Resolution Team for review.
Step 3: If we can't agree, you can seek an independent review
If you are dissatisfied with our final decision, you can complain to the Australian Financial Complaints Authority (AFCA). What to do before you complain to AFCA
Find out more about how to complain to Budget Direct.