What's changing
We’re making changes to how we calculate your premium
We want to let you know about some important updates to your premium. As part of our strategy to simplify our products and pricing, from 19 January 2026, some discounts will no longer be offered. Rest assured, this is not about increasing our prices. These changes reflect a broader industry move towards reducing pricing complexity. We remain focused on providing great value and competitive cover that’s right for you, to help protect what you’ve worked a lifetime to achieve.
Discount changes
- The Multi-Policy Discount and Drive Less Pay Less Discount will no longer be offered on new or renewing policies with a start date on or after 19 January 2026.
- In some cases, you might see a Multi-Policy Discount on a renewing policy after that date. That’s because you purchased your second eligible policy before 19 January 2026 and qualified for Multi-Policy Discount on an existing policy. If your certificate of insurance shows Multi-Policy Discount, it means this discount has been applied to your premium. However, it will be removed on the following renewal.
- While Drive Less Pay Less Discount will no longer be offered on motor policies, when calculating your premium we will consider the number of kilometres you have told us you drive each year.
Other reasons why your premium may change
We remain committed to providing fair, and competitive premiums. We regularly review our pricing approach, so each year your premium is likely to change, even if your circumstances haven’t. Your premium is based on a range of factors, including things like:
- The cost of claims in your area
- Market conditions
- Labour and material costs
- How we assess risk
- Government taxes and charges (GST, stamp duty in some states and ESL/FSL in New South Wales and Tasmania)
In addition, broader trends, like severe weather and rising construction and repair costs, affect insurance costs for everyone, even if nothing has changed for you personally.
What you need to do
You don’t need to do anything because of these changes. However, if you have further questions, you can read our frequently asked questions below.
Frequently Asked Questions
We are simplifying our approach to pricing and remain committed to offering fair and competitive premiums to deliver the best value products we can.
We still consider how far you drive each year when calculating your car premium. Keeping your details up to date helps us make sure your premium reflects your current situation.
No, in some cases, you may still see a Multi-Policy Discount applied to your policy for a final year. This is due to the date a policy was purchased or renewed.
Not necessarily. If the change you need to make doesn’t require us to create a new policy, then you will continue to receive any eligible discounts until your next renewal. Changes such as payment method, payment frequency, and listed drivers are some examples of changes that can be made without creating a new policy. If you are concerned your changes may affect your discount, please give us a call.
When a policy is cancelled due to missed payments, a new policy will need to be created. A policy created on or after 19 January 2026 will reflect our new approach to premium pricing and these discounts will not apply.
Absolutely. We can provide you with personalised advice, which means we can recommend solutions to suit your specific needs. We are always happy to have a chat with you.
Still have questions?
If you still have questions about these changes or how they may affect your policy, please contact us on 13 50 50.
