Want to protect your 'largest asset'?

The Australian Bureau of Statistics (ABS) has just released its most recent "Household Wealth and Wealth Distribution" report.

It reveals that in 2011/12 the average wealth of Australian households was an impressive $728,000.

Caroline Daley, director of the ABS's "Living Conditions" section, said in an August 21 statement that "wealth varied greatly between the states and territories," with ACT coming in first place and Tasmania coming in last.

The report shows that the average wealth of ACT's households is around $930,000, while those in Tasmania possess approximately $600,000 each.

The remaining states and territories reported wealth around the national average.

Ms Daley went on to say that owner-occupied homes are "the largest asset held by Australians".

Those who own their homes - that is, have paid off their home loans completely - generally possess more household wealth than their mortgage-paying counterparts.

The ABS report shows that households in the former category have a net worth of $1.24 million on average, while those that fall into the latter category have around $790,000 to their names.

If you want to protect your assets, you may want to consider taking out a personal insurance policy.

At Elders Insurance, you can choose to cover your "largest asset" - that is, your house - as well as your other possessions, such as your boat or motor vehicle, for either defined events or accidental damage.

We have agents located all over the country, which means you'll be organising an insurance policy with someone who understands the risks associated with your region and has actually seen your property.

This means they - and you - will have a fantastic idea of what kind of cover you most need.

Don't leave the future of your household to chance - get in touch with Elders Insurance today.