Why choose Great Southern Bank Building-Only Insurance?
What does Building-Only Insurance cover?
Building-Only Insurance covers the cost of loss or damage to your house itself, plus other eligible physical structures such as your garage, fences and sheds.
Please note this excludes strata properties where the body corporate is responsible.
This is only a summary of policy features. For full details of coverage, exclusions and limits, please read the Product Disclosure Statement (PDS) and Target Market Determinations (TMD). The Home Insurance Key Fact Sheet (KFS) also contains information you may find useful.
Tailor your cover
Our Building-Only Insurance offers a range of optional inclusions to ensure your policy meets your needs.
This is a summary of policy features only. For full details of coverage, exclusions and limits, please read the Product Disclosure Statement (PDS) and Target Market Determinations (TMD). The Home Insurance Key Fact Sheet (KFS) also contains information you may find useful.
What’s not covered?
While our Building-Only Insurance covers most scenarios, there are a number of exceptions.
This is a summary of policy features only. For full details of coverage, exclusions and limits, please read the Product Disclosure Statement (PDS) and Target Market Determinations (TMD). The Home Insurance Key Fact Sheet (KFS) also contains information you may find useful.
How much insurance do you need?
When you take out Building-Only Insurance, the amount you're insuring should accurately reflect the cost of rebuilding your home and its associated physical structures such as garage, fences and sheds.
Our insurance calculators can help reduce the chances of you being under-insured by helping you estimate their true value.
How to make your blueprints green
GreenSpecs is a digital guide for homeowners and renters, shown as the floor plan of a typical house.
Simply explore the online floor plan to learn more about the sustainable improvements you could make, room by room. You can filter potential changes by feature, room, and budget to consider everything from:
- Positive changes, such as energy efficiency.
- Healthy changes, such as reducing harmful chemicals or emissions.
- Resilient changes, such as reducing the risk of extreme weather impacts on your home.
Building-Only Insurance explained
Find the answers to frequently asked questions here.
Our Building-Only Insurance covers you against a range of eligible events like:
- Fire or smoke (including bushfires7 and grassfires7)
- Storm, cyclone7 or rainwater
- Flood and/or run-off7
- Water or other liquid damage
- Theft or burglary
- Explosion
- Accidental breakage of glass or ceramic items
- Impact damage
- Vandalism or malicious damage
- Lightning
- Earthquake or tsunami
- Riot or civil commotion
Please read the Product Disclosure Statement (PDS) to understand if these insured events are suitable for your circumstances.
General wear and tear, including gradual deterioration and lack of maintenance, are not covered under our Building-Only Insurance policy.
Put simply, you need enough to cover the cost of repairing and/or rebuilding your home and its associated physical structures (e.g. garage, fences) in the event of an insurable incident.
You can use our Home Buildings Replacement Calculator to help you estimate this.
Yes, but a 72-hour waiting period applies for flood, storm, or cyclone damage after purchasing a new policy. Coverage includes:
- Damage from heavy rain, wind, hail, and flooding
- Soil movement caused by flooding (if it occurs within 72 hours of the flood)
Our Building-Only Insurance isn't suitable if you rent your property to tenants. In this case, please see our landlord insurance products instead.
Know your policy inside and out
Download our Home Insurance Product Disclosure Statements for full details of our home and contents insurance products.
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Read moreApplicable to Car, Home, Landlords & Caravan & Trailer Insurance products
Great Southern Bank, a business name of Credit Union Australia Ltd ABN 44 087 650 959 AFSL 238317 arranges this insurance as an agent for the insurer Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL No 234708. Great Southern Bank does not guarantee or otherwise support this insurance product. We do not provide any advice based on any consideration of your objectives, financial situation or needs. Policy terms, conditions, limits, exclusions and underwriting criteria apply. Before making a decision, please consider the relevant Product Disclosure Statement & Target Market Determination available from the Great Southern Bank website or by calling 133 282. If you purchase this insurance, we will receive a commission that is a percentage of the premium. Ask us for more details before we provide you with services.
1. Online Discounts (See applicable products below)
Car Insurance Only
The online discount applies when you quote and buy a new Comprehensive Motor Insurance policies only. Any online discounts offered are applied to Allianz’s standard rates, excluding optional covers, and are for the first year’s premium only, unless otherwise stated. Promotional or other discounts may apply from time to time for customers who apply for insurance using other methods.
Home Insurance Only
When you both quote and buy a new home insurance policy online a discount of up to 10% is applied to your first year’s premium. This discount is not applied to Domestic workers’ compensation (if available and selected, not available from 21 December 2025), or upon renewal. Minimum premiums may apply.
Landlord Insurance Only
When you both quote and buy a new Landlord insurance policy online a premium discount of up to 10% is applied to your first year’s premium. This discount is not applied to Landlord workers’ compensation (if available and selected, not available from 21 December 2025), or upon renewal. Minimum premiums may apply.
2. Combined Discounts - Applicable for Home & Contents Insurance products only
A discount of up to 10% is applied to your premium when you combine Buildings and Contents on one Home and Contents Insurance policy, including the optional covers (if selected): Motor Burnout and Accidental Damage cover. The combined discount doesn't apply to any flood component of the premium (where covered) or to the optional covers Portable contents (if selected) and Domestic workers’ compensation (if available and selected, not available from 21 December 2025). Minimum premiums may apply.
3. No Claims Bonus - Applicable for Home and landlords Insurance products only
When you take out a new policy, we calculate your No Claims Bonus (NCB) based on your home or landlord (as applicable) insurance claims history. To qualify for the maximum No Claim Bonus of up to 30%, home insurance customers must have had no Building or Contents insurance claims in the preceding 5 years. Landlord customers must have had no Landlord insurance claims in the preceding 3 years. However, customers who have had claims may still qualify for a reduced No Claim Bonus. We won’t apply the full percentage of the No Claim Bonus if it results in you paying less than the minimum premium.
Home Insurance Only
The No Claim Bonus isn’t applied to the flood component of the premium (if covered) or Domestic workers’ compensation (if available and selected, not available from 21 December 2025) or Portable contents (if selected).
Landlords Insurance Only
The No Claim Bonus isn’t applied to the flood component of the premium (if covered), or Landlord workers’ compensation (if available and selected, not available from 21 December 2025).
4. Minimum Premiums - Applicable for Car, Home & Landlords Insurance products only
Where discounts are applied, your premium is subject to rounding. If more than one discount applies, they’re applied in a predetermined order, so the later discounts apply to the amount already reduced by the earlier discounts instead of the total amount. Discounts do not apply to government taxes and charges. Discounts may not be applied to the premium for optional covers.
Most discounts won’t apply below the minimum amount payable for the policy.
5. Option to change your excess - Applicable for Home & Landlords Insurance products only
Home Insurance Only
Not available with respect to any additional compulsory excess, any imposed excess applied to the policy, or to the Portable contents excess (if Portable Contents is selected). Any reduction in premium won’t be applied to government taxes and charges, any flood component of the premium (where covered), or to the optional covers Portable contents (if selected) and Domestic Workers’ compensation (if available and selected, not available from 21 December 2025). Minimum premiums may apply.
Landlord Insurance Only
Not available with respect to any additional compulsory excess, or to any imposed excess applied to the policy. Any reduction in premium won’t be applied to government taxes and charges, any flood component of the premium (where covered), or to Landlord’s workers compensation (if available and selected, not available from 21 December 2025) and the Theft by Tenant part of the optional cover Rent Default and Theft by Tenant (if selected). Minimum premiums may apply.
6. Instalment premiums - Applicable for Car, Home & Landlords Insurance products only
If you choose to pay your premium by instalments, you do not pay us any more than if you pay your premium in one lump sum annually. The premiums payable by instalments may be subject to minor adjustments (upwards or downwards) due to rounding. Note: Your financial institution may apply transaction fees to instalment payments.
7. 72 Hour exclusion period - Applicable for Home & Landlords Insurance products only
We may not provide cover for any loss of or damage to your property caused by cyclone, flood, flood water combined with run-off and/or rainwater, grassfires and bushfires during the first 72 hours after you first purchase a policy or increase your cover under an existing policy. Refer to PDS for when exclusion periods apply.
8. Earthquake excess - Applicable for Home & Landlords Insurance products only
An additional imposed excess amount of $250 applies for each claim or loss or damage caused by an earthquake or tsunami, or a series of earthquake or tsunamis, during any period of 48 consecutive hours.
9. Rental Car limits - Applicable for Car Insurance products only
Allianz will extend your rental car or daily travel allowance period to the extent that Allianz caused or contributed to the delay in repairing your vehicle.
10. Safe Driver Discount - Applicable for Car Insurance products only
Safe Driver Discount applies to Comprehensive Car Insurance policies only. Any discount entitlement is determined by the insurance history and driving history of all drivers on the policy and the number of claims made by them. If eligible, the maximum Safe Driver Discount that may be applied on new policies is up to 10%. For more information see the Premium, Excess, Discount and Options Guide (PED).
11. Choice of Repairer - Applicable for Car Insurance products only
Allianz may authorise repairs at your repairer of choice; pay you the reasonable costs of repairing your vehicle; or move your vehicle to another repairer we both agree upon. We will act reasonable in doing so.
12. Cover Limits - Applicable to Life Insurance products only
Cover available up to $1,500,000 for persons aged 19-45, up to $1,000,000 for persons aged 46-54, up to $750,000 for persons aged 55-59 and up to $500,000 for persons aged 60-69.
Applicable to Life Insurance products only
Ezicover Life Insurance is issued by Zurich Australia Limited (Zurich) ABN 92 000 010 195 AFSL 232510 of 118 Mount Street, North Sydney, NSW 2060. Zurich has prepared the information on this website about Ezicover Life Insurance and Great Southern Bank is simply passing the information onto you. This information is of a general nature only and does not take in to account your objectives, financial situation or needs. You should consider these factors and the relevant Product Disclosure Statement, the relevant target market determination here, which contains details of conditions, limits and exclusions of cover, before making a decision regarding the product. Great Southern Bank does not recommend, endorse or advise you about this insurance. Great Southern Bank can only refer you to Zurich. If you buy an Ezicover policy, Great Southern Bank will receive a referral commission from Zurich of 20% (plus GST) of your insurance premium. This amount is paid by Zurich and is not an additional cost to you. This information is current as at 27 September 2021 and is subject to change. PDR GCLS-017496-2021