How to save money on home and contents insurance


With all the costs of buying a home, it can hurt to cough up extra dough for home and contents insurance. But there are ways to save!

Don’t be under-insured!

Lowering your sum-insured to enjoy cheaper premiums may seem attractive, but hear us out! If you’re under-insured, you risk not being adequately covered in the event of a claim. If the unexpected happens, you want to know your home will be secure. It’s better to spend enough for the right level of cover; you’ll thank yourself come claims time.

As a country, we’re pretty under-insured. So, chances are, you could be too. When in doubt, follow best practice: your insurance policy should cover more than 90% of your rebuilding costs. You’ll also need a plan that’s right for your situation – insurance policies that exclude flood cover aren’t going to cut it for flood-prone areas! AAMI Home and Contents Insurance covers your home and its contents for a wide range of risks, including fire, theft, flood, storm and burglary. And don’t worry, we haven’t forgotten your sheds and garages. We cover those too!

Explore AAMI Home and Contents Insurance

AAMI also knows a home is more than four walls and a roof. That’s why we offer Complete Replacement Cover. If you take out this Optional Cover and your home is damaged by an insured event, we'll rebuild your house as it was or pay you the amount of the assessed quote to do so.​ That’s right, there won’t be a set sum-insured limit.​

Your nan may have told you stories of how cheap things were back in the day. Consider how the same could occur with construction costs over the next decade. Weather events, evolving government regulations and increased demand can all lead to spikes in the costs of supplies and tradie services. Complete Replacement Cover may increase the cost of your policy, but it can also increase your peace of mind.

Explore AAMI Complete Replacement Cover

Make use of combining discounts

Know ‘em, use ‘em. AAMI knows the best things come in pairs (think Beyonce and Jay-Z or Vegemite and toast), so you’ll get 10% off when you buy AAMI Home and Contents Insurance together. FYI, the discount doesn't apply to some options, including portable valuables cover. Purchase this policy online for an extra $50 off!

Explore AAMI Home and Contents Insurance

Choose a higher excess

This will lower your premium. The thought of paying a higher claims fee (excess) may sound painful, but it’ll trim the cost of your insurance policy. If you’re savings savvy, this may be for you—you just need to be prepared to pay the higher excess at claims time.

Read more:

Insurance is issued by AAI Limited ABN 48 005 297 807 AFSL 230859 (AAI) trading as AAMI. Any advice has been prepared without taking into account your particular objectives, financial situation or needs, so you should consider whether it is appropriate for you before acting on it. Please read the relevant Product Disclosure Statement before you make any decision regarding this product. The Target Market Determination is also available.