CommInsure has adopted a simpler approach to home insurance by streamlining three existing types of cover into one product with two components: the Residential Home Package and the Investment Home Package.
The new product allows customers to remove insured events such as fusion and power surge, theft and accidental glass breakage from their cover if they believe they do not require it.
There is also the option to add accidental damage cover for an additional premium, while landlords can add features such as malicious damage or theft by tenants and loss of rent at an additional cost.
The Residential Home Package includes three types of cover, building, contents and personal valuables cover, while the Investment Home Package offers building and contents cover.
Each type of cover within the two packages can be taken out separately or in combination.
CommInsure managing director Simon Swanson said the new product was created in response to customer demand for more flexible home insurance.
“Customers will find the new home insurance product simpler to understand without having to wade through booklets of information. It also gives them a level of comfort knowing that they’re only paying for the cover needed.”
The three products that have been merged into one are the Prime Home and Contents Insurance, the Economiser Home and Contents Insurance and the Investment Home Insurance.