Check whether the policy insures the building, household contents or both. Compare insured perils, valuation basis, excesses and conditions for an unoccupied property.
Understand whether the settlement basis uses reinstatement or another defined value. The cost of land and the cost of rebuilding are different concepts. Ask how underinsurance conditions apply to the actual policy.
Use the latest official policy documents and ask the insurer or an authorised intermediary for a personalised quotation. News2Wealth provides information; it does not sell insurance or decide eligibility.