FAQ

About Suresy

Most people don’t like insurance, don’t understand it and think it’s too expensive. It’s often referred to as a grudge purchase. Suresy is an insurance company looking to change all that. It offers instant, easy and low cost insurance.  And because we’re part of RAC, you get plenty of peace of mind when you need to make a claim.

Where does the name Suresy come from?

While not in the dictionary, the name Suresy represents ‘insurance made easy’

How do I get Suresy’d?

Suresy is available on our website. Right now, we offer renters insurance for most suburbs in WA. We hope to roll out other products in the coming year.

What products does Suresy offer?

Currently, we offer renters insurance. You can learn more about how this product works in the renters insurance 101 section.

How do I get a quote?

We’ve made it super easy to get a quote and buy cover all straight from our site. Get a quote!

What will we do with your data?

Here at Suresy, we take your data privacy very seriously. We know the questions we ask are sometimes personal, so we make sure that we treat your data as if it was our own. We store your data securely and will not spam you. We only share your data with third parties where it’s absolutely needed. We never share your details with a third party for marketing purposes, or to make cold calls.

How can I reach you guys?

If you are considering Suresy, feel free to get in touch with us at help@suresy.com.au 

Policy Stuff

How do I know what my policy covers?

You get to see a summary of your cover before you pay. At any time you can also view the Product Disclosure Statement. This explains the cover and benefits our policies provide, as well as the limits, conditions and exclusions that apply to it. After payment, we will issue your policy and send it to you by email. You can cancel the policy in the first 14 days of receipt of the policy documents or the start date, whichever is later. Subject to not making a claim, we will refund the premium paid.

How do you calculate my premium?

We calculate premiums individually for each person. A number of different factors affect price. These include your age, where you rent and how much you want to insure your stuff for. We use your details and experience for similar risks to determine the chance of loss, theft or damage arising. We then provide a discount if your home has a burglar alarm or you have a dog.

How long is my policy valid for?

Your policy is valid for 12 months from when you want cover to start. We may automatically renew your policy on the renewal date. If we plan to do this, we will let you know before your cover ends. If you do not want to renew your policy, you should let us know before the renewal date.

How do I change the details of my policy?

We’re working hard to let you do this simply yourself online.  In the meantime, just email us at help@suresy.com.au with any changes you’d like to make to your policy.

Depending on the change, there may be a change to your premium. For example, if you’re going from theft only cover to cover for fire and theft, it’s only reasonable to expect a change in premium. If the change does not reflect a material change of risk (e.g. change of name or bank details), then your premium will not change.

What if I want to cancel my policy?

You can cancel your policy at any time. Simply contact us at help@suresy.com.au and we will stop any future payments and send confirmation of cancellation. And if you ever want to come back? No problem! We’ll create a new policy for you. Please note our prices change from time to time, so your new policy may come with a different rate.

Can I switch to Suresy if I already have an active insurance policy?

We’re delighted you asked! Shoot us a note at help@suresy.com.au and we’ll walk you through the whole process.

What methods of payment are accepted?

You can pay using your credit/debit card. We will only charge you on the first day of your cover, after we’ve issued your policy.

Is my spouse covered?

Your policy covers all residents of your home related to you by marriage, blood or adoption. So make sure you buy enough cover for all your (and their) stuff! You can easily add their name to your policy when you’re signing up, at no extra charge.

Is my significant other covered?

If you’re living with your significant other, you can add their name on to your policy at no additional cost. Make sure you get enough cover for the both of you!

Are my roommates covered?

No. Your roommates will need to get their own insurance policy. Just think if you or a roommate moves out, you’ll need to untangle your policies. Could be tricky if you don’t leave each other on good terms. Renters insurance is affordable, so it’s worth each roommate having their own policy that covers their own things.

Can I add my landlord as an interested party?

Sure! Plenty of landlords and property management companies require you to list them on your policy.

What kind of things am I covered for?

We have options to cover your stuff from theft, fire and theft or accidental damage fire and theft. The most comprehensive cover is accidental damage fire and theft.

For example, if you drop your laptop, a kitchen fire damages your appliances or if someone steals your prized golf clubs. All cover options also include legal liability cover. For example, someone gets injured in your rental property and wants to sue you.

Does renters insurance cover stuff outside of my home?

Yes! Suresy covers your stuff no matter where it is in Australia. So if something is damaged or stolen while you’re in Sydney, you’re covered. As too will anything you keep in a storage unit. As always, the exact cover depends on the specifics of your policy.

Is my laptop covered?

Yes! Your Suresy policy covers your laptop up to the amount you select for portable electronics cover.

Smartphones, tablets and e-readers are other portable electronics.

And my bling?

Yes, it’s covered up to the amount you select for jewellery. If a lost or damaged item forms part of a pair, set or collection, we will only pay the value of that one item.

What kinds of things are not covered under my Suresy policy?

Regrettably, it doesn’t cover all annoying things that might happen. Like your home gets infested with vermin or a war somehow damages your property. We don’t blame you at all, but these events aren’t covered in your policy, so we can’t reimburse you for that. We also don’t cover deliberate damage to personal property.

Does renters insurance cover pet stuff?

Yes, there is cover for damage or injury caused by pets. However, you cannot insure your pet against loss or theft.

So if my dog bites someone, I’m covered?

Generally, yes. With our liability cover if your dog bites someone you are covered for injuries caused. However, you are not covered if your dog has been declared to be dangerous by a relevant authority.

If I report a claim will my premium be affected?

It might. History shows that people who have a record of making claims are more likely to make claims in the future. Our rates have to take all relevant data into account, and your claims history is one factor in your rate. As your history changes (for better or worse) over time, your rates may reflect it.

What if I miss a premium payment?

If your credit card is declined, we’ll ask you to provide us with a different one. Please note, we’ll keep bugging you to settle your tab, but in the end we’ll have to cancel your policy.

How can I lower my premium?

The amount of cover you’ve chosen to insure your stuff for plays a big part in your premium. You can easily adjust these before payment. A higher excess will also lower your premium.

We also give a discount if you have a burglar alarm or dog.

Will my credit score be considered when applying for a policy?

No. We don’t use your credit score when you apply for a policy.

How much does renters insurance cost?

Compared to other types of insurance, renters insurance is quite cheap. The cost depends on the combined value of what you’re insuring, where you live and the type of cover you want.

Lower prices? I got a quote that’s higher than elsewhere, why’s that?

We say we have low prices, and we mean it. But while our prices tend to be less than the more well-known players, that won’t always be the case. Insurers use different models and data sets to set prices. Every now and then, our price will be higher. However, when comparing price it is important to also compare cover.

How do I make a complaint?

We take complaints very seriously at Suresy. If we’ve done something wrong, we’ll work very hard to put it right. At the very least we will explain why something has happened.

If you feel we have not met your expectations then please tell us so we can try to put things right.  Just email us at complaints@suresy.com.au

We will aim to send you an acknowledgement of your complaint within 48 hours and to resolve it as soon as possible.

I’ve just moved – what do I do?

If you move where you’re renting please email us at help@suresy.com.au so we can let you know what, if any, impact this may have on your cover and premium.

Claims Stuff

How do I make a claim?

Easy! Just hit the ‘Make a claim’ button on our website. We will guide you through the rest of the short process there.

What documentation do you need from me? Do I need to take a list of items I own?

When lodging a claim, if you have receipts that’s great! But, we know that not everyone saves their receipts. Tip from us: make sure to keep your receipts on the more costly stuff you buy—say $300 and up. Even if you don’t have the receipt, keeping note of where and when you bought more expensive items will help us help you. Pictures or videos documenting the stolen items and scene of the incident also help to settle your claim quicker.

There are many home inventory apps that let you photograph and document items straight from your smartphone.

What if I don’t have all the information to lodge a claim?

Lodging a claim as soon as possible can help speed up the claim process. Even if you don’t have all the information, you can always provide us with extra details later.

Do I have to pay an excess when I make a claim?

Generally an excess is applicable to any claim that you lodge. We will deduct this from any payment that we make to settle your claim.

How do you calculate the value of my things during a claim?

We offer cash payment on a new for old basis for any destroyed or stolen items. This means we’ll calculate the value of your item based on its current lowest as-new market value. If the item is no longer sold, we will look for a similar one, and use that price as reference. Here’s an example: Someone steals your camera. You bought it two years ago for $1,200. Today, this exact model sells at a reduced price of $850. Since our job is to provide you with a new for old payment, the value we will calculate is $850. We will then subtract your excess and pay you the balance.

If an item is damaged and repairable, we will pay you the cost of the repairs. Keep in mind that all policies come with ‘limits’. These are the most we’ll pay out for any given claim. It’s a good habit to review your limits from time to time to reflect the current value of your items.

Who processes my claims?

RAC Insurance, WA’s most trusted car and home insurer, will handle your claim. Of course, we’re closely involved in the process, and will track your claim from start to finish. We are always here to help, answer questions or even just listen if you need to vent. Reach out to us early and often at claims@suresy.com.au if and when the need arises.

What is an excess?

This is the amount deducted from any claim payment you may receive. Think of it as your contribution in the damage or loss. When you buy a policy, you can choose the excess amount you’d like to have. So, why would anyone choose a high excess? Well, the higher the excess, the lower your monthly payments will be. The excess is usually fixed, no matter how high the value of the claim.

Insurers use the excess to discourage people from making small claims. This helps keep the price of policies down for everyone.

How fast will a claim be paid?

We aim to pay most simple property claims within 1 business day. More complex claims, such as liability, will take longer. As too will claims with missing information.

Can my renters insurance claim be denied?

Renters insurance claims are rarely denied, but it can happen. However, it will usually only occur if there’s a clear violation of the policy. For instance, if you have chosen and paid for $1,000 cover for portable electronics, and are claiming $2,000 for a stolen laptop, we will only pay up to what you have chosen (i.e. $1,000). We will also deny your claim in cases of fraud. That’s why it’s important to keep a home inventory: it will be easier to prove your case during a claim.

Renters Insurance 101

What is renters insurance?

Renter’s insurance is a form of contents cover designed for people living in rented properties. It protects against financial loss from specific risks such as fire or burglary, or against accidental loss or damage.

What is a risk or peril?

These are words that insurance folk often use. A ‘risk’ or ‘peril’ is simply the cause of a loss or damage. For example, theft of a TV and a kitchen fire are risks or perils. Once the risks or perils have been described, you know what is covered and what is not.

What’s the difference between a ‘defined events’ and ‘accidental damage’ policy?

Broadly speaking, a defined events policy lists the events that cause damage to your contents that you’re insured for, and everything else is excluded. The things you are insured for are called the ‘defined’ or ‘listed’ events (e.g. storm, fire, cyclone).  Most rental insurance policies provide cover for fire and theft.

On the other hand, accidental damage insurance generally covers you for any ‘accidental loss or damage’, and will list the things that you’re not insured for. Broadly speaking, these policies generally cover everything that ‘defined events’ policies cover, as well as any loss or damage that arises from an accident (unless that accident is specifically excluded).

Due to their scope of cover, accidental damage policies usually cost more than defined event policies.

Exclusions. Please explain.

Important! There are always exclusions in renters insurance policies. Certain risks are always excluded from basic policies. Some obvious risks such as wars and nuclear accidents aren’t covered but there are also some simple risks such as wear and tear that are excluded.

Who needs renters insurance?

Any renter who owns items they can’t afford to repair or replace – or simply don’t want to foot the full bill for after an incident – should have renters insurance. Think how much it’d cost to replace all your stuff after a burglary or fire. That cost can add up quickly, and renters insurance can help protect against any unforeseen expenses.

What’s the difference between renters insurance and home insurance?

Renters and home insurance are similar. Home insurance also protects the building itself. Renters insurance mainly covers belongings. You also get liability cover, but the policy doesn’t protect the structure. The landlord should have their own insurance to cover damage to the building.

What are the different parts of a renters insurance policy?

Two main cover types make up a standard renters insurance policy.

  • Personal property cover – replace or repair lost, damaged or stolen items.
  • Legal liability cover – legal costs arising from damage or injury.

Your policy also includes a premium, paid in instalments, and an excess.

My belongings aren’t worth very much, so why do I need renters insurance?

The average renter owns $15,000 worth of possessions. Even your smallest items, like your clothes, laptop and phone could add up if you had to replace them all at once. Plus, renters insurance can help protect you in the case of damage or theft that occurs anywhere in Australia. It also protects you if someone gets hurt on your property and decides to sue you.

Ok, but what are the chances of a break-in?

In 2017, home burglaries in WA hit a 13-year high, with 90 homes on average robbed every day.

Given renter’s insurance is so cheap, we think it’s well worth it.

But doesn’t my landlord cover my things?

You need renter’s insurance even if your landlord has insurance. Landlords aren’t usually liable for things that happen to your stuff. Their policy also doesn’t protect you if a guest is injured and sues you for liability.

Ok, point taken. But how much is renters insurance? Will I have to give up my smashed avo?

Fear not – your smashed avo is safe. Suresy renters insurance is actually really, really cheap. For as little as $4 a month, we can cover up to $20,000 worth of stuff against damage by fire or theft. And this includes $20m cover for legal liability!

As a renter, how much cover do I need?

The value of your stuff should determine your cover policy limit. If you live alone, $20,000 is a good starting point. For couples, we suggest starting with $20,000 to $40,000 cover.

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