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AAMI home insurance

Is AAMI home and contents insurance right for you? Read on to find out.

Alexandra Koster
Alexandra Koster

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AAMI offer several home insurance policies: AAMI Home Building Insurance, AAMI Home Contents Insurance, AAMI Home Building and Contents Insurance, Fire and Theft Contents Insurance and Landlord Insurance. These policies provide protection against key events such as fire, storm, flood and theft. These policies offer cover for a variety of needs and budgets.

Continue reading to find out more about the polices on offer from AAMI Home Insurance.

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What options does AAMI home insurance offer?

  • Home Building & Contents Insurance. As the name suggests, this policy protects your home and its contents against damage and loss caused by a wide range of risks including fire, storm, burglary, theft and flood. In addition to your home, garages and sheds at your property, this policy also covers loss and damage to your possessions.
  • Home Contents Insurance. If you just want to protect your important possessions against loss and damage, this policy provides protection against fire, storm, lightning, earthquake, meteorites and theft. $20 million of legal liability cover is included, as is new-for-old replacement of your possessions.
  • Home Building Insurance. If your home, including garages and sheds, is damaged by fire, storm, theft or a range of other events, AAMI Home Building Insurance will cover the cost of repairing or rebuilding your home. Policyholders can choose from Sum Insured or Complete Replacement Cover to suit their needs.
  • Fire and Theft Contents Insurance. The contents of your home are covered against loss or damage resulting from fire or theft under this AAMI policy.$20 million of cover is also considered when you are held legally liable for causing property damage or injury to a third party.
  • Landlord Insurance. Landlords can enjoy protection against any loss they may suffer as a result of owning a rental property. Both the building they own and its contents can be covered against damage from fire, theft and a number of other risks.

Okay, so what do these policies protect me against?

What is classed as a being part of you building?

AAMI Home Building & Contents Insurance offers protection for your building including:

  • garages
  • driveways
  • permanently wired electrical appliances.
What contents are included?
  • furniture
  • clothes
  • computer
  • carpets
  • jewellery
  • possessions.
What are insured events?
  • flood
  • storm
  • lightning
  • fire
  • earthquake
  • tsunami
  • theft
  • burglary
  • accidental breakage of glass
  • escape of liquid
  • impact
  • explosion
  • malicious acts
  • vandalism.
Sum Insured Cover is offered as standard, policyholders can opt for Complete Replacement Cover for an extra level of confidence and security. This policy comes with a lifetime repair guarantee for your building and its contents.
AAMI Home Contents Insurance covers the loss of damage of the contents at your insured address.

What contents are included?
  • furniture
  • clothing
  • computers
  • unfixed electrical appliances
  • internal blinds
  • carpets
  • wheelchairs.
However, cover is not included for anything that is defined as the ‘building’. Some contents can be insured with fixed limits (such as home office equipment), some can be insured with flexible limits (such as jewellery), while you can also take out extra cover for your valuables.

What events are covered?
  • flood
  • storm
  • lightning
  • fire
  • earthquake
  • tsunami
  • theft
  • burglary
  • accidental breakage of glass
  • escape of liquid
  • impact
  • explosion
  • malicious acts
  • vandalism.
What am I covered for?

Under this AAMI policy, your building is covered for loss or damage caused by:

  • lightning
  • fire
  • earthquake
  • tsunami
  • theft
  • burglary
  • accidental breakage of glass
  • impact
  • explosion
  • malicious acts
  • vandalism.
What is classed as a building?

AAMI’s definition of building includes:

  • garages
  • carports
  • decks
  • driveways
  • permanently connected electrical appliances.
What isn't covered by this policy?

This policy does not include cover for temporary structures such as:

  • caravans
  • carpets
  • new buildings being constructed
  • anything classified as contents.
What does this policy cover?
  • This policy protects the contents of your home when they are damaged or destroyed by fire or theft.
  • This policy includes cover for $20 million of legal liability cover.
What doesn't this policy cover?
  • However, there is no cover for damage caused by arcing, scorching or cigarette burns (unless a fire starts from the burn).
  • In addition, there is no cover for theft or burglary by someone who enters the your home with your consent.
This policy covers the building and the landlord’s insured contents at a specified property. The building includes:
  • garages
  • outbuildings
  • driveways
  • permanently wired electrical appliances.
What does landlord insurance cover?

Landlord contents include:

  • carpets
  • blinds and curtains
  • furniture
  • portable heaters.
What are the insured events for this policy?
  • flood
  • storm
  • lightning
  • fire
  • earthquake
  • tsunami
  • theft
  • burglary
  • accidental breakage of glass
  • escape of liquid
  • impact
  • explosion.
This policy also includes protection for loss of rent when your tenant defaults on their payments.

What exclusions do I need to be aware of?

Although the exact level of cover offered differs between policies, AAMI will generally not pay your claim if it is caused by:

  • actions or movements of the sea
  • aircraft shock waves
  • biological or chemical pollutants, including rioting following the release of these
  • you, or someone acting with your permission, breaking the law
  • building extensions and renovations where cracking or subsidence occurs, or where unfinished construction causes storm, flood or water to enter the building
  • bushfires, storms, floods and tsunamis in the first 72 hours of cover
  • computer virus or hacking
  • confiscation or damage by a legal authority, for example the police
  • consequential loss
  • defects, structural faults or design faults that you knew about but made no effort to fix
  • deliberate acts or omissions by you
  • tree lopping
  • failure to take reasonable care of the building and contents, keep them well maintained and fix faults as soon as you become aware of them
  • ground movement, including erosion, subsidence and landslide - except where subsidence and landslide are specifically covered under certain sections of the policy
  • hazardous materials which are not stored or used in accordance with the law
  • mechanical or electrical breakdown
  • your failure to comply with building regulations
  • corrupted, damaged or lost electronic data or files
  • the replacement of water to tanks, pools, spas etc
  • war or revolution
  • damage to the roots of trees, shrubs or plants
  • seepage of water
  • structural improvements to units
  • wear, tear and gradual deterioration.

How does excess impact my home insurance?

You may have to pay an excess when you make an AAMI Home Insurance claim. AAMI offers the following types of excess:

  • Additional excess. Additional excess may apply based on AAMI's assessment of the risk.
  • Flexi-Premium excess. You can choose to reduce your premium by paying a higher excess. You can choose a number of Flexi-Premium excess levels between $100 and $1,000 and this will need to be paid on top of your standard excess.
  • Extra Cover excess. This is $100.
  • Unoccupied excess. If the building has been unoccupied for more than 60 consecutive days at the time of the insured incident, you’ll have to pay this $1,000 excess.

How to save on your AAMI Home Insurance premiums

  • Choose a higher excess. A Flexi-Premium excess from AAMI allows you to pay a lower premium.
  • Insure your contents for less. The lower your level of cover, the less you’ll have to pay.
  • Choose a different policy. You can save money on your Home Insurance by choosing to purchase a cheaper policy.
  • Install security measures. Alarm systems, deadlocks and other security measures can reduce the risk of theft and therefore lower your premiums.
  • Hold multiple policies with AAMI. Existing AAMI customers may be able to take advantage of a discount if they take out their Home Insurance with the same provider.
  • Combine buildings and contents cover. You may be rewarded with a discount for doing this.

How do I make a claim?

  1. The first thing you should do when an incident occurs is to make sure everyone is safe. If the police or emergency services need to be contacted, do so as soon as possible.
  2. Once you’re satisfied that everyone is safe, take any reasonable steps you can to ensure that no further loss, damage or liability is suffered. For example:
    • If a storm has caused a hole in your roof, cover the hole to minimise further damage.
    • If you’ve been the victim of theft or malicious damage, remember to report the incident immediately to the police and obtain a copy of any report.
  3. The last step is to contact AAMI to notify them of your claim. You can lodge your claim online, or call 13 22 44 to speak with a claims consultant. You’ll need to provide details of the insured incident and any supporting documentation which AAMI may request.

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6 Responses

    Default Gravatar
    Jens.April 3, 2018

    Hello.
    We had our house build about 10 years ago, block home, and used the Termo mesh as protection against Termites, but we have noticed the timber internal has been damaged by Termites, are we covered to get the house treated and repairs done on the timber, paint, etc.??

    Reply
      Default Gravatar
      NikkiApril 3, 2018

      Hi Jen!

      Thanks for your message and for visiting finder.

      This would depend on the insurance policy that you enrolled for.
      We suggest contacting your AAMI home insurance broker to ask if these works are covered by your policy. Also, you may call the termite protection provider to ask why there was a termite infestation when you availed of their service to fight against it.

      Please note that we’re a product comparison website and we hold no affiliation with any company we feature on our site. We provide general information on products to assist you in your buying decision process hence we cannot recommend product/service that is rightfully fit for you.

      Hope this helps!

      Best regards,

      Nikki

      Reply
    Default Gravatar
    andyDecember 6, 2017

    Does house insurance cover structural damage to brick garage wall possibly due to tree roots? thanks

    Reply
      Avatarfinder Customer Care
      JudithDecember 7, 2017Staff

      Hi Andy,

      Thanks for your question. I hope all is well with you today.

      The way insurance covers tree damage varies between policies, but generally, you are not covered for damage caused by tree roots. If tree roots cause damage to your home or its surroundings, you typically won’t be covered for the direct damage that results. However, there are some exceptions that generally apply too. You can be covered for tree root damage if: it strangled water pipes, resulting in the release of liquid. Here you might be covered for the damage caused by the escape of liquid, although the cost of repairing the pipes themselves might not be covered.

      Since the cover depends on the policy that you purchase and on the insurer, you may contact the insurers directly.

      You may read our helpful guide, “Does home insurance cover tree damage?” on this page. In addition, you may click the green “Go to site” buttons for you to be redirected to the insurers’ websites so you could review more pertinent information about them and their policies.

      I hope this helps.

      Best regards,
      Judith

      Reply
    Default Gravatar
    CPTApril 6, 2016

    If I have a H&C insurance and I store personal belongings for let’s say a relative/friend or an ex-partner and they’re damaged/stolen, would they be covered under MY policy?

    Reply
      Avatarfinder Customer Care
      RichardApril 6, 2016Staff

      Hi CPT,

      Thanks for your question. It’ll depend on the items and your insurer. You should contact your provider directly about the specifics of your policy.

      All the best,
      Richard

      Reply
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