What is contents insurance?
Contents insurance if you live in an apartment, unit, villa or townhouse is important as residential strata insurance only protects the building, not your personal property or possessions.
Your personal belongings include your clothing, phones, jewellery, furniture, TV, computers, internal carpets, blinds and electrical appliances.
Why choose CHU?
Bringing you more value from PICA Group.
PICA Group has partnered with CHU, one of Australia's largest and most awarded insurance underwriting agencies who specialises in providing comprehensive insurance that is tailored specifically for strata properties like apartments, units, villas and townhouses. CHU protects almost 1 million properties across Australia.
Unlike other companies CHU offers automatic inclusions other insurers may charge as ‘optional extras’.
| Automatic inclusions | Basic Cover | Premier Cover |
| Contents – Covers your personal possessions from malicious damage, theft, water, fire and storm damage with new for old replacement. | Up to $200,000 |
$50,000 - $200,000 + Accidental Damage and Loss |
| Jewellery, Watches | $1,500 per item, maximum of $7,500 | $5,000 per item, maximum of $25,000 |
| Entertainment equipment | 10% of the total sum insured for all items | 10% of the total sum insured for all items |
| Portable entertainment equipment | $1,500 per item, maximum of $5,000 | $5,000 per item, maximum of $25,000 |
| CDs, DVDs, electronic games media and digital media files | $3,000 in total | $5,000 per item, maximum of $25,000 |
| Portable musical instruments | $1,500 in total | $25,000 in total |
| Tools of trade | $1,500 in total | $2,500 in total |
| Works of art, pictures, tapestries, rugs, antiques, collections of any kind, computer equipment | $5,000 per item | $10,000 per item up to maximum of $40,000 |
| Photographic equipment | $1,500 in total | $5,000 per item, maximum of $25,000 |
| Curios, gold or silver articles (but not bullion) | $1000 per item, maximum of $5,000 | $5,000 per item, maximum of $25,000 |
| Documents | $500 per item, maximum of $1,500 | $2,000 per item up to maximum of $5,000 |
| Bicycles | $1,500 per bicycle, maximum of $2,500 | $5,000 per bicycle, maximum of $25,000 |
| Unspecified High Risk Items; cash, bullion or negotiable securities | Up to 1% of your sum insured, max $500 | Up to 1% of your sum insured, max $1,500 |
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Standard Benefits Across Both Covers
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PLUS your policy comes with:
- 21 day cooling off period should you change your mind
- 24/7 claims service and support with emergency assistance
Why you need contents insurance
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Most common claim type – water damage
After a hail storm, water leaks through a broken window and roof damaging your bed, carpet and television. The estimated damage is $7,000. Your CHU Contents Insurance policy covers replacement or repair of your damaged personal possessions.
If a valid claim is also submitted by your body corporate/ owners corporation for your building on a CHU Residential Strata Insurance Plan for the same incident, then your $500 contents insurance excess is waived.
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Most expensive claim type – legal liability
A tradesperson slips on a mat and falls inside your apartment, hurting their ankle, back and hand. X-rays confirm fractures resulting in time off work.
The tradesperson seeks damages from you for medical treatment and loss of earnings. Your CHU Contents Insurance covers you for the cost of defending the claim and also the legal liability.
The below diagram shows what is covered by residential strata insurance and by CHU Contents Insurance.
How do I get portable contents insurance?
When you take out CHU Contents Insurance for Strata your cover includes portables, so your valuables are protected against accidental loss or damage in or away from home.
Important Documents and Forms
| Name | Link |
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PDS and policy wording for policies effective 1st July 2019 |
Download |
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Target Market Determination (TMD) |
Download |
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Fact sheet |
Download |
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Contents Insurance for Strata Flyer |
Download |
Frequently asked questions
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What is CHU Contents Insurance and do I need it?
CHU Contents Insurance is insurance cover for household and personal possessions such as clothing, jewellery, furniture, TV, computers, internal carpets, blinds and electrical appliances belonging to yourself and your family members. It is important as it covers the financial cost of repairing or replacing your household and personal possessions in the event of loss or damage.
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Do I need Contents Insurance when my building has Strata Insurance?
Yes, Residential Strata Insurance only provides general insurance cover for the building, common area contents and shared property. The cover provided by the Strata Building policy ends when you cross the threshold of your individual property. A separate Contents Insurance policy is required to protect your personal possessions.
