Home insurance can cover your building, contents, or both, depending on the policy you choose. Cover may include events such as fire, storm, theft and accidental damage, but exclusions, limits and excesses vary between insurers. Check the policy’s product disclosure statement (PDS), calculate realistic rebuilding and replacement costs, and make sure valuables are covered for their full value. An insurer will decide whether a claim is covered based on the policy terms and your individual circumstances.