When comparing contents insurance in Melbourne, check whether the policy covers risks relevant to your area, such as theft, storm, fire and escape of water, and whether flood cover is included or optional. Work out an accurate sum insured for replacing your belongings, including furniture, electronics, clothing and valuables, and review limits for items such as jewellery or bicycles. Compare excesses, exclusions, temporary accommodation and replacement-value terms, rather than focusing only on price. The appropriate cover and premium depend on your circumstances, so read the Product Disclosure Statement and contact the insurer if you need clarification.