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Why do car insurance premiums change?

We want you to feel informed about the reasons behind changes to your Car Insurance premium. That’s why we’ve broken down some of the common factors that affect pricing and how you can consider checking if the coverage is right for you.

What impacts premium?

The below general information is relevant to AAMI car (including comprehensive; fire, theft and third party property damage; third party property damage), motorcycle (including comprehensive; fire, theft and third party property damage; third party property damage), and caravan (comprehensive including Australia-wide and on-site cover) insurance, unless otherwise stated. The below is not relevant for compulsory third party insurance. Please refer to your relevant policy documents for more detail.

Many factors can impact the amount of premium that we charge our customers, some key matters are set out below. In addition to change in circumstances impacting your cover, premiums are also impacted by changes in our pricing practice, pricing factors and how we calculate premium from time to time.


 

How can I review my premium?

The below general information is relevant to AAMI car (including comprehensive; fire, theft and third party property damage; third party property damage), motorcycle (including comprehensive; fire, theft and third party property damage; third party property damage), and caravan (comprehensive including Australia-wide and on-site cover) insurance, unless otherwise stated. The information below is not relevant for compulsory third party insurance. Please refer to your relevant policy documents for more detail.

Review your policies to make sure all details are correct. Some changes can impact your premium if they affect the premium factors. Below are some ways you can influence how much premium you pay under our suite of AAMI motor products where relevant. When reviewing your policy, you should always consider your own personal circumstances and check whether your policy suits your own needs.

Disclaimers:

The information is intended to be of general nature only. Subject to any rights you may have under any law, we do not accept any legal responsibility for any loss or damage, including loss of business or profits or any other indirect loss, incurred as a result of reliance upon the information. Please make your own enquiries.

The information provided is accurate and true as of 7th September 2023, noting we may change our pricing practice (and the premium factors) from time to time.

AAMI Car Insurance, Motorcycle Insurance, NSW and SA CTP Insurance, ACT MAI Insurance and Caravan Insurance are issued by AAI Limited ABN 48 005 297 807 trading as AAMI. Read the relevant Product Disclosure Statement or Policy Document before buying this insurance. The Target Market Determination is also available. This advice has been prepared without taking into account any person’s particular objectives, financial situation or needs, so you should consider whether it is appropriate for you before acting on it.