AAMI Home & Contents Insurance Review
Summary
AAMI’s Home & Contents Insurance offers decent coverage at a competitive price point. Read on for more details.
Pros
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AAMI won the 2025 Finder Home Insurance Award for Best Value because it offered a broad range of features at a lower price.
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It was the cheapest home insurance provider in our most recent research of 47 providers.
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It includes adequate cover for the things you’d expect to claim for and saves on premiums by cutting some of the other, less necessary features.
Cons
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If you want to pay monthly, you’ll be hit with an additional fee which will add to the overall cost of your premium.
Details
Product details
| Fire, Storm & Theft Damage | |
| Flood | Yes |
| Accidental damage | Optional |
| Escape of Liquid | |
| Temporary Accommodation | Up to 10% of the building sum insured - up to 52 weeks |
| Replacement of Locks | Up to $500 |
| Electrical Motor Burnout | Reasonable costs |
| Impact (including fallen trees) | |
| Jewellery | $5,000 |
| Sum Insured Safeguard | Optional |
Congratulations, AAMI!
AAMI Home and Contents Insurance has taken out this year's Finder Award for Value. Offering similar cover to competitors at a lower price along with unique optional benefits like Complete Replacement Cover and AAMI Home Assist, it's a standout.
- Winner, Best Value Home Insurance: Home & Contents Insurance
Full list of 2025 home insurance winners
Detailed overview of AAMI Home and Contents Insurance
Feature | Definition | AAMI's coverage |
|---|---|---|
Fire, storm & theft damage | Covers loss from fire, storms, or theft. | |
Flood | Protects against water damage from flood events. | Yes |
Accidental damage | Covers unintentional damage to your home or contents. | Optional |
Covers damage from burst pipes or leaks. | ||
Pays for housing if your home becomes unlivable. | Up to 10% of the building sum insured - up to 52 weeks | |
Replacement of locks | Covers costs to replace stolen or damaged locks. | Up to $500 |
Electrical motor burnout | Repairs or replaces burnt-out household motors. Eg. fridge, washing machine. | Reasonable costs |
Impact (including fallen trees) | Covers damage from falling objects like trees. | |
Insures loss or damage to valuable jewellery. | $5,000 | |
Underinsurance protection | Provides extra cover if underinsured during claims. Eg. rebuild costs are $700,000 but you're only insured for $600,000. | Optional |
Optional add-ons
- Accidental Damage at Home - Provides coverage for accidental loss or damage to your home or contents.
- Excess-Free Glass - Covers the repair or replacement of accidentally broken fixed glass.
- AAMI Home Assist - Offers 24/7 assistance from qualified tradespeople—plumbers, electricians, locksmiths, or carpenters—in the event of a home emergency, such as a burst pipe or electrical failure. This cover includes up to three callouts per policy period, with each callout providing up to two hours of assistance and covering up to $50 in repair materials.
- Complete Replacement Cover - Ensures that if your home is damaged or destroyed by an insured event, AAMI will repair or rebuild your house as it was, or pay you the amount of the assessed quote to do so, without requiring you to set a specific sum insured limit.
How to make a claim
You can make a claim with AAMI online or via the phone. The steps are outlined below:
- Provide Incident Details – Enter information about what happened, when, and where.
- Upload Supporting Documents – Attach photos, receipts, or other relevant evidence.
- Assessment Process – AAMI may request more details or send an assessor.
- Claim Outcome – AAMI will inform you of the decision and next steps.
- Receive repairs, replacement, or payout – Depending on the claim, AAMI may repair, replace, or compensate you.
Claims information
Looking at the Australian Financial Complaints Authority data, AAI (who underwrites AAMI) received a total of 2,200 complaints about their home and contents insurance policies. Of that, 1,207 complaints were resolved, giving AAI a resolution rate of 54.86%. Compared to other very large insurers, this is pretty good. See more detail below.
Compare other products from AAMI
- AAMI health insurance
- AAMI travel insurance
- AAMI car insurance
- AAMI motorcycle insurance
- AAMI caravan insurance
- AAMI life insurance
- AAMI income protection
- AAMI landlord insurance
Frequently asked questions
- AAMI Home & Contents, Building Only and Contents Only Insurance information page
- AAMI Building Only Insurance information PDF
- AAMI Contents Insurance information PDF
- AAMI Home & Contents, Building Only and Contents Only Insurance TMD
- AAMI Home Insurance Claims
- Australian Financial Complaints Authority, Complaints by firm
- 2025 Finder Home Insurance Awards
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