Home insurance excess explained


Confused about home insurance excess? You’re not alone! Here’s how it works.   

What is an excess?

An excess is the amount you pay towards the cost of your claim for each incident covered by your policy. Sometimes, depending on the circumstances of the claim, you might have to pay more than one type of excess. The amount and types of excess are shown on your certificate of insurance — which,  if you’re an AAMI customer, can be found in the AAMI App or in your AAMI My Account

How much will my excess be?

It depends on your policy, and the nature of your claim. Exact amounts are shown on your certificate of insurance, which can be found in the AAMI App or your AAMI My Account if you’re an AAMI customer.

Depending on the circumstances of your claim, other excesses may apply. More information on excesses can be found in the PDS.

Are there different types of home insurance excess?

With AAMI, there are three types of home insurance excess:

AAMI Flexi-Premiums® excess

This excess applies to all claims unless your policy states that no excess applies to your claim.

Additional excess

An additional excess may apply to your policy based on our assessment of the risk. If an additional excess applies to your policy, this excess is payable in addition to any other excess, unless stated otherwise in your policy.

Unoccupied excess

This excess applies in addition to any other excess if at the time of the incident covered by your policy, the building has been unoccupied for more than 60 continuous day.


Can I change my home insurance excess?

You sure can. With AAMI Flexi-Premiums® you’re in control of your excess. Choose to either increase your excess to lower your premiums, or lower your excess and have a higher premium.

How to pay your excess?

You can choose from the following options to pay your excess:

  • you can pay the excess(es) directly to us before we finalise your claim;
  • the excess(es) can be deducted from the amount we pay you for your claim (if any). 

We will not cover any legal or other costs that arise because of any delay in paying the excess.

How to pay an excess

You can pay your excess in the AAMI App, from your AAMI My Account, or by giving us a call on 13 22 44.  

Will I have to pay two excesses if I make a claim for loss or damage to my home and contents?

When both the building and contents at the one insured address are insured with us and your claim is for loss or damage to both arising from the same incident, you pay whichever is the higher of the contents AAMI Flexi-Premiums® excess or the building AAMI Flexi-Premiums® excess (plus any other applicable excess). The other excesses that apply are those under the cover with the higher AAMI Flexi-Premiums® excess.

When don’t I have to pay an excess?

We will waive your excess and no excess will apply when:

  • you are not responsible for the loss or damage and the incident was caused by another person (but not a person within the definition of ‘you’ and not a person living at the address). You may be able to show this by providing, for example, a police report, expert reports, statement from a witness and/or photographs; and
  • you can give us the name and address of the person responsible, and if applicable, the registration number of the vehicle. If you cannot identify the person responsible and/or give us their name and address (and if applicable, their registration number) it means we will not be able to waive your excess. It does not otherwise impact the cover under your policy or your ability to make a claim. 

An excess also won’t apply if you’ve added Optional Excess-Free Glass cover to your AAMI Home Insurance policy for an additional premium, and you’re just making a claim for broken glass under that cover. 

Need to make a claim?

We’re here to help. Quickly and easily lodge your home insurance claim online or via the AAMI App

Make a claim

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Insurance is issued by AAI Limited ABN 48 005 297 807 AFSL 230859 trading as AAMI. Read the relevant Product Disclosure Statement before buying this insurance.
This advice has been prepared without taking into account your particular objectives, financial situations or needs, so you should consider whether it is appropriate for you before acting on it.