AAMI Comprehensive Car Insurance Policy

What we cover

The protection we provide

We will pay for any accidental loss, damage (including malicious damage) and liability for property damage covered by your AAMI policy occurring during the period of cover.

When your car has been damaged, we will decide to repair it, pay the cost of repairing it, declare it a write-off and pay the agreed value, or replace it. See pages 22-29 for details.

When your car has not been found after being stolen, we will declare it a write-off and pay the agreed value or replace it. See pages 22-29 for details.

When the use of your car causes damage to someone else's property, we will pay for your legal liability. See pages 23-24 for details.

We cover your car for its agreed value

Your car's agreed value is based on the value given for its make and model in the motor trade's most commonly accepted price handbook. It includes modifications and manufacturer's options and accessories that we have agreed in writing to insure.

The agreed value is established at the commencement of your AAMI policy and adjusted at the beginning of each subsequent period of cover. It is shown on the most recent of your insurance schedule and renewal notice and it does not change during the period of cover.

It includes GST and is the most we will pay for your car, less any excess and any other deductions this policy explains, for any accidental loss and damage covered by this policy occurring during the period of cover.

A new car when your car is less than 2 years old and we declare it a write-off

If we declare your car a write-off because of damage or theft within the first 2 years of its original registration, we will replace it with a new car and pay the initial on-road costs.

The replacement car:

will be of the same make and model as your car,

will be fitted with the same insured options and accessories as those fitted to your car, and

has to be locally available. If it is not locally available, we will pay the agreed value.

If your car is under finance, you have to obtain the approval of the financier before it can be replaced.

What happens when your car is 2 or more years old and we declare it a write-off?

If we declare your car a write-off and 2 or more years have passed since it was originally registered, we will pay the agreed value.