When you compare home insurance, check that the building and contents sums insured reflect the likely cost to repair, rebuild or replace your belongings, not just the property’s market value. Compare cover types, exclusions, limits, temporary accommodation, accidental damage options and the excess, as a cheaper premium may provide less protection. Check whether the policy covers events relevant to your location, such as floods, storms, bushfires or theft. Read the product disclosure statement and confirm costs, eligibility and policy terms directly with the insurer before deciding.