Complete replacement cover

BUILDING ITEMS

Complete Replacement Cover®

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 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 or when you renew your 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 the assessed quote to repair or rebuild it – without you having to set a specific sum insured. Read the PDS for full details.

What’s not covered

There are limitations and exclusions to this cover. You can learn more about this optional cover in the Product Disclosure Statement.