I took out an excessive level of cover. Can I get my overpaid premiums refunded?
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Answer by Neha Sharma, Hillsdale 2036 NSW
- If you over-insure your house and its contents your insurance company will not refund the premium you have paid.
- Your insurance company will not pay you more than it costs to replace, repair or rebuild your home or contents.
- Therefore make sure you take the time to create an inventory to ensure that you are getting adequate cover.