Insurance Lessons From The Movie The Castle

They say a man's home is his castle, so how would Darryl Kerrigan feel about his being knocked down?

Despite winning their case before the High Court of Australia which saw the Kerrigan family avoid forced acquisition of their home, it appears The Castle may soon get demolished in real life.

Just last month, the owner of the iconic home at 3 Dagonet Street in Strathmore announced she may knock down the home as part of her plans to build two new townhouses on the land, unless someone wants to purchase and relocate it. Somewhere, Darryl Kerrigan is reading a newspaper mumbling, "Tell 'er she's dreamin'" but there's very little the fictional character can do to stop her.

Instead, he ought to rejoice that his home finally went up in value, no thanks to his DIY additions like the fake chimney and plastic lattice to "give the place a Victorian feel." The $70,000 fictitious Kerrigan home is now estimated at $609,378 according to onthehouse.

In the spirit of house hunting, you may want to brush up on these top insurance lessons the Kerrigan's taught us.

Carefully review everyone covered on your policy

Early on in the film, we learn that Darryl Kerrigan's son, Wayne, is serving 8 years behind bars for robbing a petrol station. While the family is eager for him to return home, they may not be as excited about the impacts Pity's homecoming will have on their insurance policy. Although insurers vary, for the most part having someone on a policy with a criminal conviction relating to fraud, theft, dishonesty, arson or malicious damage could result in refusing to renew your policy.

Insure your valuables

If you have a pool room like Darryl Kerrigan, then chances are you've also got a lot of mugs, trophies, pottery and letter openers to protect. Taking out contents insurance is a must if you want to insure all those valuable assets and it's also worth keeping an inventory of them in case your house is ever robbed.

Insure your Camira, your Torana and your Commodore

"Steve could you move the Camira? I need to get the Torana out so I can get to the Commodore." Darryl Kerrigan

If you love your cars as much as Darryl Kerrigan, you'll waste no time insuring them all. And as inconvenient as having to move the Torana out of the garage to get to the Commodore may be, at least storing it securely may help you save on your insurance premium.

Take out a separate policy for Banshee, Star-Flash, Trailblazer and Coco

Most home insurance policies will cover damage caused by fire, storms, theft and vandalism however coverage for damage caused by pets is often limited. It's therefore critical to take out a separate policy for your pets in the event that they cause intentional or unintentional damage to yourself, your home or others. This is particularly important if, like Darryl, you own four greyhounds named Banshee, Star-Flash, Trailblazer and Coco.

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