What’s the difference between sum insured and complete replacement cover?
AAMI offers total building replacement cover. Our Complete Replacement Cover is an optional cover that can be added to your home and landlord insurance policies. This level of cover can give you peace of mind that we'll repair or rebuild your home as it was — or pay you the amount of the assessed quote to do so — without you having to set a specific sum-insured limit. We provide you peace of mind if you're uncertain as to how much it will cost to rebuild your home.
If you choose Sum Insured, you can specify a sum insured on your policy. If the house is damaged in an insured event, this amount is the maximum we’ll pay to rebuild or repair it (plus any additional cover provided for by the PDS).
You can make updates to your sum insured or choose Complete Replacement Cover at renewal, just log in to My Account.