Jessica Prasida is a travel insurance expert for Finder. She lives and breathes travel, having worked as a travel agent and branch manager at STA Travel for over 4 years, then writing about travel insurance with Finder for another 5 years. Jess has a Bachelor of Business from the University of Technology, Sydney and a Tier 1 General Insurance qualification. See full bio
' > Jessica Prasida Updated Aug 19, 2024 Fact checked Navigate Home And Contents In this guide In this guideHome insurance brands
AAMI won the award for 'Home Insurance - Value' in the 2024 Product Awards.
AAMI offers the normal 3 types of home insurance: Building, Contents, and a combined Home and Contents policy. They also offer optional extras so you can tailor your policy, and Landlord Insurance to protect your investment properties.
An AAMI Home Insurance policy can cover you for these insured events and more:
AAMI offers varying excesses from $200 up to $3,000. You can choose a different excess for the building part of your policy, and a different excess for the contents part. This will impact the cost of your policy, but it also gives you the opportunity to choose an excess you feel comfortable with.
AAI Limited issues AAMI Home Insurance policies, and there's a cooling off period of 21 days in case you change your mind.
These are some of the benefits that AAMI can cover you for if an insured event causes damage to your home or property.
This is optional cover that you can take out to customise your policy. Just keep in mind, these will probably cost you a bit extra.
These are some general exclusions. This means that AAMI won't usually cover damage or loss caused by some of these things:
Always remember to check the Product Disclosure Statement (PDS) of your policy to get the full list of exclusions, so you know what you're signing up for. You can also check out our guide on general exclusions.
We looked at home insurance complaint data from the Australian Financial Complaints Authority (AFCA) between July 2022 and June 2023. The data breaks down different underwriters and compares their business size to the number of complaints processed.
When comparing insurers, keep in mind that insurers with a larger market share serve more customers, so can potentially get more complaints.
Here's an overview of how AAMI (AAI Limited) did:
AAMI is a well-known brand in the home insurance space. It offers unique benefits like Complete Replacement Cover and AAMI Home Assist which is something that most other companies don't do.
One thing to note is that AAMI's underwriter has historically had a large number of complaints, so make sure you read the PDS to understand what you're signing up for.
Not sure yet? You can compare other home insurance brands side-by-side so that you end up with a policy you're happy with.
Your home is the most valuable asset you own, so consider whether you'd be able to cope financially if it was significantly damaged or even destroyed. Similarly, your possessions are often just as important and need to be protected, so Home and Contents Insurance is all about providing peace of mind.
Yes, you can apply for optional cover to be added to your AAMI Landlord Insurance policy that will cover you for malicious damage and theft by your tenants and their visitors, as well as for loss of rent if your tenant stops paying. However, you will need to pay an extra premium for this cover.
Although Sum Insured Cover is cheaper to take out, Complete Replacement Cover ensures that it covers the cost of repairing or replacing your home, no matter how much it costs. A Sum Insured policy sets a limit on how much AAMI will pay out.
If you've held, or currently hold, an AAMI Home Insurance policy, we'd love to hear from you. Your reviews help other Australians decide if AAMI is right for them. Some reviews are from a survey commissioned by Finder.
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Jessica Prasida is a travel insurance expert for Finder. She lives and breathes travel, having worked as a travel agent and branch manager at STA Travel for over 4 years, then writing about travel insurance with Finder for another 5 years. Jess has a Bachelor of Business from the University of Technology, Sydney and a Tier 1 General Insurance qualification. See full bio
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