Virgin Money is owned by the Bank of Queensland (BOQ) Group and has provided financial services for Australians since 2003. Along with home and contents insurance, Virgin Money also offers a range of products such as car insurance, life insurance, income protection and more.
A Virgin Money home and contents policy typically covers events like:
On top of these standard inclusions, you may also add several optional extras to your home and contents cover. Some add-ons you could purchase through Virgin Money include:
Read the Product Disclosure Statement (PDS) for more information on terms, conditions and annual limits.
Some reasons you might choose home insurance and contents insurance from Virgin Money may include:
With Virgin Money, you can pay your premiums annually or through instalments (either fortnightly or monthly), either with a Visa or Mastercard. You can also pay by direct debit.
By paying Virgin Money home and contents insurance policies annually instead of instalments (e.g. fortnightly or monthly), you’ll pay a lower premium and avoid instalment processing fees.
A Virgin Money contents policy may cover the following items:
Read the PDS for a complete list of covered items.
Virgin Money’s standard home and contents policy doesn’t cover flood damage. However, it may be available as an optional extra, which can be included in your policy at an additional premium.
Virgin Money typically covers damages from storms and lightning in their home and contents insurance policy, as well as fires, earthquakes and tsunamis. These defined events are subject to exclusions, restrictions and limits, so always read the PDS before purchasing a policy.
Yes, it does. To cover an investment property through Virgin Money, landlords generally need to purchase a landlord insurance policy. If you’re a tenant, you can purchase contents insurance to cover your valuables.
After ensuring your property is safe and reporting any theft or vandalism to the police, you can start the process by calling the claim number listed on the PDS. Alternatively, you can also start your claim by going to the Virgin Money online portal.
To support your claim, it’s worth providing the following:
The amount of excess you pay on a claim will depend on how much you elected when you purchased or renewed your Virgin Money policy. So, if you nominated an excess of $700, that’s the basic excess you’ll pay when you need to claim.
Different types of claims could also be subject to additional excesses. For example, if your home is unoccupied for over 60 days, you’ll generally need to pay an additional excess along with your agreed basic excess amount.
You can cancel your Virgin Money home and contents policy at any time by contacting them by phone or through their website’s live chat. You may get a full refund on any premiums you’ve paid if you cancel within the cooling-off period and haven’t made a claim. A refund might still be available outside of this period, but a cancellation fee may apply.
You can weigh up your options from Virgin Money and other providers on our panel in just minutes through our free home insurance comparison service. Compare policy features side by side, such as prices, benefits and exclusions, and see if you can find a great deal today.
