Home insurance can cover damage to the building from insured events such as fire, storm or theft, while contents insurance covers belongings inside the home. Policies differ, and may exclude issues such as wear and tear, poor maintenance, flooding or damage caused by renovations unless selected or defined in the policy. Check the Product Disclosure Statement, limits, excesses, optional cover and whether your sum insured would be enough to rebuild or replace your belongings. The insurer decides whether a claim is covered based on the policy terms and your circumstances.