BUILDING ITEMS
Complete Replacement Cover®
OPTIONAL
In some cases, a situation can result in the unexpected. Like, for example, if your home needs to be repaired or rebuilt after an insured event, but the amount needed to do so is more than the amount that your home is insured for. No worries, that’s why AAMI offers Complete Replacement Cover® as an optional choice for eligible AAMI Home Building Insurance customers – it's our best underinsurance protection!
AAMI Complete Replacement Cover® can provide you with added peace of mind if you’re uncertain how much it will cost to rebuild your home. This option can be added to your AAMI Home Building Insurance policy for an extra premium and needs to be selected when you first buy your policy, renew your policy or change the insured address on your existing policy.
What’s covered
If your house needs to be repaired or rebuilt after an insured event, we will offer to repair or rebuild your house on a 'new for old' basis or pay you the amount of our builder’s assessed quote to repair or rebuild it – without you having to set a specific sum insured. Read the Product Disclosure Statement for full details.
What’s not covered
With Complete Replacement Cover®, all general exclusions still apply. For full details and to learn more about this optional cover, read the PDS.