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AAMI Home Insurance Review: A Comprehensive Guide

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Are you looking for an in-depth AAMI Home Insurance Review? You’ve come to the right place! This comprehensive guide will provide a thorough review of AAMI Home Insurance, so you can make an informed decision about whether it’s the right insurance provider for you. 

We’ll look at their coverage options, costs, customer service, and more to give you a complete picture of what AAMI Home Insurance offers. So keep reading to get the most out of this AAMI Home Insurance Review!

About AAMI

AAMI is one of Australia’s most recognizable home insurance providers. Founded in 1970, AAMI provides a range of policies designed to protect your home and contents. 

Their offerings include everything from Comprehensive Replacement Cover to AAMI Home Assist – services you won’t find with other insurance providers.

The company is owned by AAI Limited, which has been in the insurance business since 1919. Although AAI Limited has had its fair share of complaints over the years, its financial stability has remained strong. As a result, customers can feel confident that their policy will be honored when they make a claim.

What Does AAMI Home Insurance Cover?

AAMI Home Insurance covers you for events such as fires, theft, escape of liquid, storms, and malicious damage. You can also choose a varying excess from $200 up to $3,000 and have different amenities for building and contents parts of your policy. 

AAI Limited issues AAMI Home Insurance policies, and there’s a cooling period of 21 days in case you change your mind. Additionally, AAMI offers optional extras to tailor your policy, and Landlord Insurance protects your investment properties. 

Depending on the level of cover you choose, you’ll be protected against accidental damage (e.g., if an overloaded powerboard short circuits), pets inside the home (this includes their vaccinations), and items left outside (e.g., patio furniture). Your rental income will be protected if you cannot rent it out after an insured event (i.e., fire or storm). 

Emergency repairs are included in your insurance, which comes into play if something happens at your property that needs immediate repair, such as burst pipes. If a tenant causes unintentional damage to your property, they may be covered depending on your plan type. 

Most policies include temporary accommodation costs for up to 12 months should your house become uninhabitable due to an insured event. Plus, all customers get access to a 24/7 emergency helpline with help from tradespeople, plumbers, and electricians should anything go wrong at home. 

Finally, ensure that you read through the Product Disclosure Statement carefully when taking out a new policy to ensure that all of your needs are covered before signing on the dotted line.

AAMI Home Insurance Standard Features

AAMI provides some great features and benefits that can help you protect your home and belongings. This includes:

Building Cover: AAMI covers you for loss or damage to the building, such as caused by fire, storm, theft, and malicious damage.

Contents Cover – AAMI will cover the cost of repairing or replacing your furniture, electronics, appliances, and clothing if damaged or stolen.

Emergency Assistance: AAMI will pay for emergency repairs or temporary accommodation costs if you suffer a loss due to an insured event.

Alternative Accommodation: If your home is uninhabitable due to an insured event, AAMI will cover the cost of alternative accommodation.

Personal Liability: This covers legal liability for damage or injury caused by you or your family members to other people or their property.

Inflation Protection: AAMI’s Home Insurance includes automatic inflation protection for your building and contents cover. This means that the amount of insurance you have automatically increases yearly with the inflation rate.

AAMI Home Insurance Optional add-ons

You can add an optional cover if you want to customize your AAMI Home Insurance policy. This is usually available for an extra cost, so consider the benefit versus cost before taking out this type of cover. Some of the optional covers available include:

Complete replacement cover: With a comprehensive replacement cover, if your home is damaged by an insured event and needs repairs, AAMI will provide you with money to help replace or repair the building and any items inside.

Accidental damage at home: Accidental damage at home covers unexpected events like when something spills onto the carpet, or you accidentally put a hole in the wall. This cover also covers accidental damage to items like furniture, clothes, and electronic items inside the house.

Excess-free glass cover: Excess-free glass cover covers accidental breakage of glass doors, windows, and other glass items in your home. This includes mirrors, fixed glass panels and shelves, glass shower screens, and more.

AAMI Home Assist: AAMI Home Assist covers call-outs of up to $100 for assistance with locksmiths, electricians, and plumbers when needed. It’s important to note that this cover does not cover the cost of the actual repairs. It only covers the call-out fee.

What Exclusions Are There?

AAMI home insurance does not cover certain losses or damages, meaning that you should be aware of exclusions. Generally speaking, AAMI won’t usually cover damage or loss caused by the following:

– Actions or movement of the sea

– Deliberate or reckless actions

– Mould or mildew

– Breaking the law

– Not complying with building laws or regulations

– Building not in good condition

– Building extensions, alterations, or renovations

It’s important to note that this is just a general list of exclusions. To get a complete list of what is and isn’t covered under your policy, read your Product Disclosure Statement (PDS) carefully before signing up. You can also check out our guide on general exclusions for more information.

Review of AAMI Complaints

AAMI home insurance is a product from the AAI Limited group. As with all insurers, we are looking at the complaint data is essential to get an overall view of customer satisfaction.

From July 2020 to June 2021, AAMI processed 578 complaints through the Australian Financial Complaints Authority (AFCA). This figure is higher than Insurance Australia and QBE but lower than Allianz.

Most of these complaints were resolved at the end of the process. However, AAMI had fewer complaints resolved than most other underwriters. 

On a positive note, most complaints received were related to claims-handling times, which indicates that AAMI customers are generally satisfied with how their claims are handled.

Overall, AAMI is resolving most of its customer complaints efficiently. The fact that most complaints are related to claims handling times suggests that customers are happy with how AAMI handles their claims. 

However, there is room for improvement regarding complaint resolution times.

How Does the AAMI Claims Process Work?

AAMI is committed to making the claims process easy and stress-free for you. Whether you are making a claim online1 or over the phone, AAMI provides a simple and guided experience.

To make a claim online1, log in to your My Account or download the AAMI App, then follow these simple steps:

Step 1: Log into your My Account or AAMI App.

Step 2: Select ‘Claims’ from the menu.

Step 3: Provide your policy details, the details of the incident, and the details of the people involved.

Step 4: Submit the claim by uploading any supporting documents or photos.

Step 5: Your claim is lodged with AAMI, and a confirmation email will be sent.

Our friendly consultants will guide you through the process when claiming over the phone. Depending on your policy type and the nature of your claim, your consultant may be able to lodge your claim right away, or you may need to provide further information.

For eligible claims/policies, we can book directly into a repairer using our Service Partner Network. This means that your car can be assessed by one of our accredited service partners, and your repair work will begin without you having to wait in a queue. 

Once your claim is lodged, you can easily track or update it at any time via your My Account or AAMI App.

We understand your time’s value, so we want to ensure that your experience with us is as smooth as possible.

AAMI Customer Reviews

AAMI Home Insurance generally has positive customer reviews, with an average rating of 4.2 stars out of 5 from customers on Trustpilot. 

Many of the positive reviews point to the convenient online portal for filing and managing claims and the fast response times for claims. Other customers have commented on the cost-effectiveness of their policies, noting that AAMI offers competitive prices for a comprehensive coverage package. 

Customers have also appreciated the friendly and helpful customer service staff, who they say are knowledgeable and able to assist in understanding complex insurance terms. Customers have also praised the online platform for being user-friendly and easy to navigate. 

On the other hand, some customers have expressed dissatisfaction with the lack of coverage options and longer wait times for claims processing. There have been a few reports of customer service staff needing more knowledge to handle more complex queries or disputes. 

Most customers are satisfied with their experience with AAMI Home Insurance, citing its convenience, affordability, and quality customer service.

The Bottom Line

AAMI is an excellent option for those looking for comprehensive home insurance coverage. Their unique features, like Complete Replacement Cover and AAMI Home Assist, can be beneficial in an emergency. 

However, reading the Product Disclosure Statement is essential to ensure you understand what you’re signing up for before purchasing a policy with AAMI. Additionally, comparing other home insurance providers may be worth seeing what approach best suits your needs. 

Many policies include additional benefits such as cover for natural disasters or accidental damage at no extra cost. It’s also worth considering whether you need other optional extras such as Landlord Protection or Building Additions cover, as these will add to the premium price. 

The website and customer service provided by AAMI are excellent; they offer a variety of helpful resources, including an FAQ page and a 24/7 call center for customers who require assistance. 

While some reviews have raised concerns about customer service response times and response quality, AAMI has generally praised its customer service. 

Suppose you’re looking for competitive premiums, clear communication from insurers, and excellent customer service. In that case, AAMI could be the right provider. 

To summarise, if you want comprehensive coverage and peace of mind, then AAMI Home Insurance could be the perfect fit.


How do I claim on an AAMI Home Insurance policy?

Online or via the mobile app, you can make a claim.
You’ll need about 10 minutes to complete the online form. Here are some things you’ll need:
(If you don’t have a paper copy, try looking in your email for the policy number)
Your claim for damages, including information about what happened
Photos, invoices, police reports, quotes, etc., are evidence of the event.

Who’s eligible for an AAMI Home Insurance policy?

According to AAMI’s Target Market Determination, this product is appropriate for
If you live in a home for the purposes of domestic living.
To ensure your contents while living at a certain residence, either as a homeowner or renter
To be eligible for home insurance, the building you live in must be the appropriate size, in the appropriate neighborhood, and structurally sound.

Do I need Home and Contents Insurance?

In light of all of this, consider the following: Is your home your most valuable asset? Are your personal belongings worth the cost of replacement if they are damaged or destroyed? That is precisely the intention behind Home and Contents Insurance. It’s about protecting what you cherish the most.

Is home insurance a legal requirement?

The lender who provided you with your home loan may insist on adequate home insurance as a condition of the loan. If this is the case, you should check with your lender.

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