Natural disasters and the impact on Home Insurance

As most Australians will be aware, there have recently been many natural disasters and extreme weather events in our part of the world. This has led to more claims and rising reinsurance prices as reinsurers now identify Australia as higher risk. 

To ensure we can continue to give you quality cover, we’ve had to pass on some of the extra cost of reinsurance. This has contributed to an increase in premiums.

We understand any cost increase affects your household budget and provide ways for you to lower your premium, wherever possible.

Choose a higher excess for your policyCheck the discounts you’re entitled toUse our home value calculators

This means you’ll pay a bit more excess if you need to claim, but your premium will be lower in the meantime.

Your insurance renewal certificate will show two excess options so you can select the one that suits you best.

Our Premium, Excess & Discount Guide tells you more.

To help you save, we offer:
Loyalty Discount and No Claims Bonus

Calculate the current value of your home buildings and contents with our easy to use calculators.

You can then also check you have the right amount of insurance, and avoid potential surprises if you need to claim.

View guide

See discounts


Why insurers need reinsurance

Reinsurance is insurance cover for insurers. It helps to make sure an insurance company has enough money to pay claims if many of its customers are affected at the same time by a major natural disaster.

The Australian Government, through its regulatory body the Australian Prudential Regulation Authority (APRA), requires insurers to report on and regularly review their reinsurance arrangements to ensure these meet current consumer protection guidelines.