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QBANK’s Home Buildings and Contents Plus policy is offered under the CGU brand, with Insurance Australia Limited identified as the provider. Its advertised Plus features include a 25% safety net above the building sum insured, up to two years of temporary accommodation, and higher limits on some benefits. But the public information does not establish the policy’s current premium or detailed limits and exclusions, so compare your quote and Certificate of Insurance with the current policy wording before deciding.
Who provides QBANK home insurance?
QBANK distributes the policy under an agreement with Insurance Australia Limited (IAL) and the CGU brand. CHOICE describes it as an IAG white-label policy and says the cover is identical to policies sold under 17 other brands in its comparison, although prices may differ. That does not establish that a QBANK quote will match another brand’s price or that the policy is suitable for a particular property. QBANK’s Home Insurance page and CHOICE’s policy entry identify the relevant product and parties.
What does the Plus cover add?
Building Plus
QBANK advertises three main differences for Building Plus: a safety net of 25% above the building sum insured if the home needs rebuilding or repair, two years of temporary accommodation instead of 12 months under Standard, and higher limits on some inclusions. The safety net applies to building cover, not contents. Its eligibility and conditions need to be checked in the current Product Disclosure Statement (PDS) and Certificate of Insurance; the headline percentage alone does not establish how a claim will be assessed. QBANK’s comparison of Standard and Plus sets out these advertised differences.
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QBANK’s comparison table shows accidental damage at home and electrical motor burnout as included automatically with Contents Plus; they are optional under Standard. Contents Plus also lists benefits including food spoilage, identity theft, contents in storage, contents in transit and temporary accommodation. QBANK says some Plus benefits have higher limits, but the accessible public information does not establish the current amounts or all conditions. Check the applicable benefit in the PDS and the limits shown on your Certificate of Insurance. QBANK’s cover comparison describes the listed features.
What events does QBANK list as covered?
QBANK’s comparison lists event categories covered across Standard and Plus, including:
- Fire, lightning and earthquake
- Flood or rainwater run-off, storm, storm surge or tsunami
- Theft or attempted theft
- Escape of water or liquid and impact
This is a list of event categories, not a guarantee that every loss involving one of them is covered. Definitions, exclusions, limits and excesses in the policy wording apply. QBANK specifically says CGU does not cover actions of the sea such as tides and waves, so do not assume that a listed storm surge or tsunami category includes every coastal water-related loss. QBANK’s event comparison gives the categories and sea-action caveat.
CHOICE’s public entry also flags restrictions concerning theft, fire, flood, earth movement and certain property, and notes a 72-hour waiting period for bushfire and grassfire. Treat these as prompts to check the current wording, not as a complete account of exclusions or claim conditions. CHOICE’s entry provides those points.
What optional cover can you add?
Portable contents
QBANK lists portable contents as an optional benefit for Contents Plus. It may suit items such as laptops, jewellery, glasses and phones taken outside the home. QBANK states a $10,000 limit per item unless the item is separately listed for more. The public page also identifies limits for items outside Australia or New Zealand, exclusions for scratches and dents and for items being cleaned or repaired, and restrictions on some sports or other equipment while in use. The exact scope and conditions depend on the current policy wording and what is listed on your Certificate of Insurance. QBANK’s optional-cover information sets out these points.
Valuable contents
Valuable contents is also listed as optional. Confirm which items must be individually specified, the applicable limits and any evidence or security requirements in the PDS and your Certificate of Insurance; the available public information does not establish those detailed terms.
How much does QBANK home insurance cost?
The premium depends on the property and the quote; the accessible information does not establish a current price or a reliable comparison with other insurers. CHOICE says no expert rating is available on its public entry, while detailed scores and state-by-state price comparisons are member-only. That evidence is not enough to call the policy good value or to recommend it over alternatives.
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Compare actual quotes for the same property and cover choices. Check the building and contents sums insured, optional benefits selected, excesses, relevant perils and temporary accommodation conditions. A lower quote is not directly comparable if the insured amounts, excesses or cover differ.
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Not by itself as a substitute for choosing an adequate building sum insured. QBANK says its online calculator is a guide and that the customer is responsible for insuring the home for its full replacement value. It also says that if the insured amount exceeds the actual repair or replacement cost, payment is limited to that actual cost. A percentage safety net does not establish that a chosen sum will cover a rebuild in every circumstance. QBANK’s page puts it plainly: “It’s your responsibility to ensure your home is insured for its full replacement value.” QBANK’s calculator guidance explains the qualification.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What to check in your quote and Certificate of Insurance
- Building sum insured: Compare it with a full replacement-cost estimate, rather than relying solely on the calculator or the 25% safety net.
- Contents sum insured: Check that the amount reflects what you would need to replace and how your listed valuables are treated.
- Optional benefits: Confirm whether portable contents or valuable contents cover is selected and which items, if any, are separately listed.
- Excesses and price: Read the quote and certificate for the excesses that apply, then compare the premium against quotes with equivalent cover.
- Perils and exclusions: Check the policy definitions for flood, storm surge and other risks relevant to your location, as well as waiting periods and property restrictions.
- Temporary accommodation and benefit limits: Verify the applicable period, amount and conditions rather than relying only on the advertised Plus headline.
CHOICE lists legal liability up to $20 million for named policyholders and resident family members for incidents in Australia; QBANK also advertises liability up to $20 million, subject to policy conditions. Confirm who is insured and how the conditions apply in the wording and certificate. CHOICE’s entry and QBANK’s product page describe this limit.
What the accessible policy information does not establish
QBANK’s page links to a CGU PDS and a Premium, Excess and Discounts Guide, but those detailed documents were not accessible here. As a result, current detailed sub-limits, exclusions, premium, excesses and document edition cannot be established from the available material. Do not treat the public feature list as a replacement for the applicable wording. Obtain the current QBANK-specific documents and read them alongside your quote and Certificate of Insurance before choosing cover.
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Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
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