Where do home premiums go?

We understand that changes to your premium can be confusing. As a guide we have broken down where insurance premiums go, because it’s important to us that you know where your money is going.

What data did we use?

  • The information above is based on data aggregated across all AAI Limited Home Policies and is calculated based on the period from 1 July 2021 to 30 June 2023. The data may vary from time to time, depending on the measurement period.
  • AAI Limited Home Policies mean home building, home contents, home and contents (including fire and theft contents), landlord building, landlord contents, landlord building and contents, strata insurance and relocatable home policies of all the AAI Limited Brands, issued by AAI Limited ABN 48 005 297 807 between 1 July 2021 and 30 June 2023 and includes policies with all types of optional covers. It does not include any home cover sold under a business policy.
  • AAI Limited Brands mean AAMI, GIO, Suncorp Insurance, Apia, Shannons, CIL Insurance, Terri Scheer, Vero Insurance and Essentials by AAI.
  • Percentages are rounded to the nearest whole number.
  • Where do premiums go may differ and may change from time to time. 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.

What impacts premium?

The below general information is relevant to Apia home (including home, contents, home & contents, home & contents extra, apartment, assisted living, village cover), landlord building, landlord contents, landlord building and contents (unless otherwise stated). 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 Apia home (including home, contents, home & contents, home & contents extra, apartment, assisted living, village cover), landlord building, landlord contents, landlord building and contents (unless otherwise stated). 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 home products.  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.

Australian Pensioners Insurance Agency Pty Limited ABN 14 099 650 996 is an authorised representative of AAI Limited ABN 48 005 297 807, the product issuer for Apia home (including home, contents, home & contents, home & contents extra, apartment, assisted living, village cover), landlord building, landlord contents, landlord building and contents. Read the Product Disclosure Statement before buying this insurance. Go to apia.com.au for a copy. 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.  Various products and services are provided by different entities of the Suncorp Group. The different entities of the Suncorp Group are not responsible for, or liable in respect of, products or services provided by other entities of the Suncorp Group.