Check that the sum insured reflects the likely cost to rebuild your home, including demolition, debris removal, professional fees and relevant compliance costs—not the property’s market value. Review what is covered and excluded, such as storm, flood, fire, fixtures, sheds, retaining walls and temporary accommodation, and compare excesses and legal liability limits. Confirm whether the policy suits an owner-occupied, rental or strata property, as different arrangements may apply. Ask the insurer or a licensed insurance adviser about unclear terms, and keep your policy documents and building details up to date.