People First Bank building insurance: what each policy covers, and who underwrites it
2 building policies from People First Bank. For each: how the building is valued, whether flood and accidental damage are covered, and what happens once the building is left empty, with the sentence from its own documents. Underwritten by Insurance Australia Limited.
- Website
- peoplefirstbank.com.au/
- What it is
- Brand
- Listed on
- Houses and rental properties
- Underwriter
- Insurance Australia Limited
- APRA
- Authorised by APRA to write new general insurance (listed as Insurance Australia Limited)
- Sold by
- Heritage and People's Choice Ltd (trading as People First Bank) · AFSL 244310
Building policies
People First Bank Home Insurance (building cover)
- Type
- Home building · Residential
- Sold
- Direct
- Levels of cover
- Building Standard, Building Plus
- Building valued as
- Sum insured, + 25% option
- Flood
- Included
- Accidental damage
- Optional extra
- Left empty
- No cover after 60 days. You must tell the insurer. Only if the home is also not kept in a lived-in state (lawns mowed, mail stopped, someone checking inside and out weekly).
- Documents
- Home Insurance Product Disclosure Statement and Policy Booklet (24 February 2025) · Key Facts Sheet - Home Building (10 August 2026)
- The 25% Safety net (extra cover on top of the building sum insured) is available only with Building Plus; Building Standard is sum insured only.
- Accidental damage is an optional extra on both levels.
The policy
“This Product Disclosure Statement (PDS) is issued by Insurance Australia Limited ABN 11 000 016 722 AFSL 227681 under the CGU brand”
Source: cgu.com.au/documents/peoplefirstbank/home/pds · Confirmed on the insurer's page on 13 November 2026.
How it is sold
“You can get a quote online today.”
Source: peoplefirstbank.com.au/insurance/home-insurance/building-insurance · Confirmed on the insurer's page on 13 November 2026.
How the building is valued
“We will pay the reasonable extra costs to repair or rebuild Your Home up to 25% of the ‘Building’ Sum Insured.”
Source: cgu.com.au/documents/peoplefirstbank/home/pds · Confirmed on the insurer's page on 13 November 2026.
Flood
“Covered as Flood or Rainwater Run-off.”
Source: cgu.com.au/documents/cgu-partners/home-building/kfs · Confirmed on the insurer's page on 13 November 2026.
Accidental damage
“Cover Building Plus Contents Plus Building Standard Contents Standard Accidental damage – at Your Home Optional Optional”
Source: cgu.com.au/documents/peoplefirstbank/home/pds · Confirmed on the insurer's page on 13 November 2026.
Left empty
“Your Home being unoccupied for 60 or more consecutive days and not maintained in a lived-in state by:”
Source: cgu.com.au/documents/peoplefirstbank/home/pds · Confirmed on the insurer's page on 13 November 2026.
People First Bank Landlord Insurance (building cover)
- Type
- Landlord · Residential
- Sold
- Not stated
- Building valued as
- Sum insured, optional buffer
- Flood
- Included
- Accidental damage
- Not stated
- Left empty
- No cover after 60 days. You must tell the insurer. Only if the rental property is also not kept in a lived-in state (lawns mowed, mail stopped, someone checking inside and out weekly).
- Documents
- Landlord Insurance Product Disclosure Statement and Policy Booklet (24 February 2025)
- Safety net (extra cover if rebuild costs exceed the building sum insured) is an optional benefit on the landlord policy.
The policy
“This Product Disclosure Statement (PDS) is issued by Insurance Australia Limited ABN 11 000 016 722 AFSL 227681 under the CGU brand”
Source: cgu.com.au/documents/peoplefirstbank/landlord/pds · Confirmed on the insurer's page on 13 November 2026.
How the building is valued
“Cover Building Contents Rent default Optional Optional Safety net Optional”
Source: cgu.com.au/documents/peoplefirstbank/landlord/pds · Confirmed on the insurer's page on 13 November 2026.
Flood
“Cover for loss or damage to Your Rental Property and Contents Accidental breakage of glass Animal damage Damage by occupant Deliberate or intentional act Earthquake Electrical motor burnout Escape of water or liquid Explosion Fire Flood or Rainwater Run-off Impact”
Source: cgu.com.au/documents/peoplefirstbank/landlord/pds · Confirmed on the insurer's page on 13 November 2026.
Left empty
“Your Rental Property being unoccupied for 60 or more consecutive days and not maintained in a lived-in state by:”
Source: cgu.com.au/documents/peoplefirstbank/landlord/pds · Confirmed on the insurer's page on 13 November 2026.
Who underwrites and sells it
Underwriter
“This Product Disclosure Statement (PDS) is issued by Insurance Australia Limited ABN 11 000 016 722 AFSL 227681 under the CGU brand”
Source: cgu.com.au/documents/peoplefirstbank/home/pds · Confirmed on the insurer's page on 13 November 2026.
Who sells it
“People First Bank (a trading name of Heritage and People’s Choice Ltd ABN 11 087 651 125 AFSL 244310) acts under its own AFSL and under an agreement with the insurance issuer Insurance Australia Limited ABN 11 000 016 722, AFSL 227681, under the CGU brand, in distributing this insurance.”
Source: peoplefirstbank.com.au/insurance/home-insurance/building-insurance · Confirmed on the insurer's page on 13 November 2026.
Insurance Australia Limited: licence
- AFS licence
- 227681 · INSURANCE AUSTRALIA LIMITED
- ABN
- 11000016722
- Licensed since
- 28 July 2003
- Principal business
- Sydney NSW 2000
- General insurance
- Licensed to deal in general insurance products
From ASIC's AFS Licensee dataset, release of 11 November 2026, Creative Commons Attribution 3.0 Australia.
Distributor's licence
- AFS licence
- 244310 · HERITAGE AND PEOPLE'S CHOICE LIMITED
- ABN
- 11087651125
- Licensed since
- 10 March 2004
- Principal business
- Toowoomba QLD 4350
From ASIC's AFS Licensee dataset, release of 11 November 2026, Creative Commons Attribution 3.0 Australia.
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