Check that the sum insured reflects the likely cost to rebuild your home, including demolition, debris removal, professional fees and compliance with current building standards. Review what is covered, such as storm, fire, escape of liquid and accidental damage, and note exclusions, limits, waiting periods and the excess. Confirm whether fences, driveways, sheds and other outbuildings are included, and update the insurer after renovations or major changes. If you live in a strata property, check what the body corporate policy covers and speak with the insurer or a licensed insurance professional about any gaps.