When comparing building insurance, look beyond the premium and check the sum insured, cover for temporary accommodation, legal liability and key exclusions. Consider whether the policy covers events such as storms, floods, fires and accidental damage, and whether optional extras are relevant to your property. Check how the insurer calculates rebuilding costs, including demolition, debris removal and professional fees, as underinsurance can affect a claim. Read the Product Disclosure Statement and confirm details with the insurer or a licensed insurance broker before choosing a policy.