All Risks Insurance in Australia 2026: What You Need to Know

All Risks insurance is a type of policy that covers loss or damage to insured items from almost any cause, unless specifically excluded in the policy wording. Unlike named-perils insurance, which only protects against events listed in your policy (such as fire or theft), All Risks insurance aims to provide more comprehensive cover. This means that if your laptop is stolen from your car, or your camera is damaged while travelling, you may be able to claim—provided the event isn’t excluded.

In 2026, several factors are making All Risks insurance more relevant for Australians:

• Remote and hybrid work: More people are carrying laptops, phones, and other equipment between home, office, and public spaces, increasing the risk of loss or damage outside the home.
• Changing weather patterns: Unpredictable weather events, such as storms and floods, have prompted many to seek broader protection for their belongings.
• Flexible policy options: Insurers are offering more modular and digital-first All Risks products, sometimes as add-ons to home and contents or business insurance.

All Risks insurance is often available as an add-on to home and contents or business insurance, or as a standalone policy for specific needs. Coverage typically includes:

• Personal valuables: Items like phones, laptops, jewellery, cameras, and musical instruments, both at home and when you’re out.
• Business equipment: Tools, stock, and equipment taken offsite—important for tradespeople, creatives, and those with portable businesses.
• Portable valuables worldwide: Some policies extend cover to items taken overseas, which can be useful for frequent travellers.

Common Exclusions

Despite its broad name, All Risks insurance does not cover every possible scenario. Typical exclusions include:

• Gradual wear and tear or deterioration
• Mechanical or electrical breakdowns (unless specifically included)
• Losses due to war, nuclear events, or government confiscation
• Items left unattended in public places (check your policy for details)

It’s important to read your Product Disclosure Statement (PDS) carefully to understand exactly what is and isn’t covered.

Consider a scenario: a freelance photographer drops her camera bag at a train station, damaging expensive lenses. If she has All Risks cover (either as a standalone policy or as an add-on to her business insurance), she may be able to claim for the repair or replacement costs, subject to the policy’s terms and limits.

The All Risks insurance market in Australia is evolving. Key trends in 2026 include:

Digital Claims and App-Based Policies

Many insurers now allow claims for lost or damaged items to be lodged via mobile apps, streamlining the process and often speeding up payouts.

Modular and Bundled Cover

Policies are increasingly flexible, allowing you to tailor cover by item, location, or event. For example, you might choose to cover specific valuables for travel, work, or special occasions.

Premium Changes

Premiums for All Risks insurance can vary based on the value of items insured, your location, and recent claims trends. In areas with higher rates of theft or recent severe weather, premiums may be higher. However, competition among insurers means there are still options to compare for value.

Focus on Underinsurance

Consumer groups and regulators have highlighted the risk of underinsurance, especially after major loss events. It’s important to regularly review the value of your insured items and update your policy to reflect current replacement costs.

Clearer Policy Terms

Insurers have updated their Product Disclosure Statements to make it easier to understand what is covered and what is excluded. This transparency helps you compare policies and avoid surprises if you need to claim.

All Risks insurance can be a good fit if you:

• Frequently take valuable items out of your home or office
• Run a business that relies on portable equipment
• Travel regularly, for work or leisure
• Own unique or hard-to-replace assets

If your valuables rarely leave home, or if you’re comfortable covering smaller losses yourself, a standard home and contents policy may be sufficient. Always check the details of your policy and update your sums insured to reflect the current value of your belongings, especially as prices for technology, jewellery, and specialist gear can change.

If you’re unsure about the right level of cover, consider speaking with a professional. Insurance brokers can help you assess your needs and compare available policies.

To make sure your All Risks policy works for you:

• List high-value items: Some policies require you to specify valuable items individually. Make sure these are listed and valued accurately.
• Keep records: Hold onto receipts, valuations, and photos of your valuables. This can make claims easier and faster.
• Review your policy regularly: As your lifestyle or possessions change, update your cover to match.
• Understand your excess: Know what excess applies to claims, and factor this into your decision-making.

All Risks insurance is becoming more mainstream as Australians lead more mobile and flexible lives. With broader cover options, clearer policy terms, and digital tools making claims easier, it’s worth considering if you want peace of mind for your valuables—wherever life takes you in 2026. Take the time to review your needs, compare policies, and keep your cover up to date so you’re prepared for the unexpected.