Smart building and contents insurance for landlords | Honey Insurance (2024)

FAQs

What does building insurance cover? ›

Buildings insurance covers you if something happens to your home. For example, if a fire, flood or storm damages the building it will cover the cost of the repairs. It will cover the cost to rebuild, repair or replace things like your roof, walls, windows, doors or fitted bathrooms and kitchens.

You don't have to take out home contents insurance. However, it's a good idea to do so because if any of your contents are lost, stolen or damaged you will have to pay to replace them.

By reducing your risk with our smart sensors, you'll pay less for premiums. Get a discount of up to 8% every year, not just some one-time sign-up bonus. Honey is insurance that rewards you everyday, not just one day. Rather than taking 30 minutes to get you covered, we can do it in 3 minutes.

The sensors will automatically alert you when something is wrong with a notification to your smartphone. The only information Honey uses is whether or not your smart home devices are active to ensure you can keep your discount year after year.

Termites and insect damage, bird or rodent damage, rust, rot, mold, and general wear and tear are not covered. Damage caused by smog or smoke from industrial or agricultural operations is also not covered. If something is poorly made or has a hidden defect, this is generally excluded and won't be covered.

When it comes to insuring your home, the 80% rule is an important guideline to keep in mind. This rule suggests you should insure your home for at least 80% of its total replacement cost to avoid penalties for being underinsured.

There's no such thing as an average contents insurance cost. The amount you spend on your contents cover will vary depending on the value of your contents, as well as a number of other factors such as where you live and what level of cover you want.

The difference between buildings and contents insurance is that buildings insurance covers the physical structure of the property including the walls, roof and floors, while contents insurance covers items inside the property, like furniture and freestanding appliances.

Contents insurance covers your household items and personal belongings if they're damaged, lost or stolen. This can include your furniture, clothes, computer, fridge, television, tools and jewellery. If you own your home, you can bundle your contents insurance with your home insurance.

Who is Honey backed by? We're backed and underwritten by RACQ Insurance – one of Australia's most trusted brands, and supported by industry leaders such as AGL, Metricon, Mirvac and PEXA who invested in Honey.

What do the Honey Smart Sensors do? ›

Notion Sensors help monitor your home so small mishaps don't become big deals. Activating your system will keep the smart home premium you requested from Honey in place. Once you set up your system, you'll be alerted to water leaks, temperature changes, smoke alarms and open doors or windows.

Annual Membership

Starting at $246/mo, $2,950/year billed upfront.

Smart Home Sensors Overview

Smart sensors, those small, unnoticeable devices, have a critical role in making homes smarter. They detect fire, water leakage, and intrusion, then send an alert over the wireless link as quickly as possible - every second counts in time-sensitive emergencies.

Smart Home Sensors are devices that monitor and automate tasks in the home for energy savings, security, and health. Different types of Smart Home Sensors use various technologies like infrared or ultrasonic to detect changes in their environment.

What Does Building Insurance Cover? Building insurance covers the structure and the fixtures inside your building–including any sinks, bathtubs, pipes and bathroom toilets. Garages, sheds and outside fences may also be covered under your policy.

Yes. Home insurance buildings cover will include damage to external walls and render on your property if it has been caused by a claimable event. Claimable events include fire damage, flood damage, subsidence, landslip and heave.

Property insurance: protects against loss or damage to tangible property, such as a building or its contents. It typically covers damage caused by fire, theft, and natural disasters. Liability insurance: protects against financial loss from legal claims made against the policyholder.

The worse a damp situation gets, the more it's likely to cost to repair any damage. Most standard buildings and contents home insurance policies do not cover damage caused by damp and condensation. A damp-proof course can run into thousands of pounds if the whole house needs treating.