When Do I Need to Provide a Certificate of Currency?

We explain when and why you need to provide a certificate of currency.

A certificate of currency (CoC) is a document issued by your home insurance provider that verifies that you’re insured. Lenders would typically request for a certificate of currency during the application process if you’re:

  • Purchasing an existing property
  • Refinancing your home loan
  • In instances where your property isn’t covered by strata or body corporate

When updating your policy with your insurer, please ensure that your lender (eg. Commonwealth Bank of Australia) is listed as the interested party on your insurance policy.

Additionally, it's important that you ensure the insurance held for any security property remains current and covers against fire, storm, tempest, and other unforeseen hazards. The policy should at least equate to the full replacement value of any building or other improvements on the insured property. Your lender must also approve of both the insurer and the terms of the insurance policy.

Learn more about a certificate of currency and what happens when you don't one, how to request for one and what details are included.

This article is intended to provide general information only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. Please consider seeking financial advice before making any decision based on this information.‍

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