AAMI landlord insurance
Independent review of AAMI landlord insurance: coverage, exclusions, claims experience, loss of rent, tenant damage options and who should look elsewhere.
Sharp pricing, simpler product
3.9propkt editorial ratingAAMI built its name on direct-to-consumer car insurance and brings the same playbook to landlord cover: competitive headline prices, an efficient website and a no-frills product. The trade-off is depth. Optional covers exist, but the product range and fine-tuning are narrower than the specialists offer, and some claim scenarios that specialist policies treat as standard sit behind options or exclusions here. For a low-maintenance metro house with a solid tenant profile, AAMI is frequently the cheapest adequate quote. Investors running higher-risk scenarios - student rentals, pet-friendly leases, regional towns - should price the specialists too.
Independent recognition
- CanstarLandlord Insurance Awards - Outstanding Value, Contents Cover (National) · 2026
- CanstarLandlord Insurance Awards - Outstanding Value, Building & Contents (QLD); Contents Cover (NT, VIC) · 2026
- CanstarOutstanding Value - Home & Contents Insurance (National) · 2025
Awards as published by the awarding bodies, checked August 2026. propkt is not affiliated with any insurer or rating agency.
Relative positioning, not a quote. AAMI prices keenly at the simple end; configured prices rise as options are added. This is general information, not financial advice - read the current PDS and consider your circumstances.
Best for
Simple metro lets where price leads the decision
Buying experience
Fast online quotes and self-service policy changes
Group backing
Part of the Suncorp Network for scale and stability
What’s covered - and what isn’t
Typical positions under current published product information. Your policy schedule and PDS are the final word.
- Building and contents damage from fire, storm, water and malicious acts
- Liability cover for incidents at the property
- Loss of rent when an insured event makes the property unliveable
- Optional covers for tenant-related risks, depending on state availability
- Rent default may be limited or optional depending on the policy selected
- Wear, tear and gradual deterioration
- Flood where the address is assessed as high risk
- Loss of rent beyond the policy's stated weekly cap and time limit
- Damage arising before the policy started or known at renewal
Claims experience
AAMI processes claims through the Suncorp Network, lodging online or by phone with access to approved builders and trades. Simple event claims - storm, fire, escape of water - move quickly. Where tenant damage or rent disputes need substantiation, expect the same documentary requirements as any insurer: signed agreement, condition reports, ledger and evidence of mitigation. Feedback patterns suggest phone wait times can stretch at peak weather events, which is common across direct brands.
Landlord-specific gotchas
The details landlords most often discover at claim time.
Check the rent cover definitions twice
AAMI's loss-of-rent wording distinguishes carefully between rent lost after an insured event and rent lost to a non-paying tenant. They are different covers with different limits - know which one you bought.
Excess structure rewards clean claims
Base excesses are competitive but add-ons for tenant-damage and rent-default claims can raise the effective cost of exactly the claims landlords dread. Factor the claim-time excess into any comparison.
Fewer specialist endorsements
Specialist situations - holiday lets, company-owned titles, dual-occupancy setups - have less room to be accommodated than with dedicated landlord insurers. Ask before assuming.
Frequently asked questions
Is AAMI landlord insurance good value?
For straightforward metropolitan properties, often yes - its base pricing is among the sharper mainstream quotes. Value drops if you need multiple optional covers, where configured prices approach specialist insurers offering more.
Does AAMI cover tenant damage?
Malicious damage caused by tenants or their guests is generally covered; accidental damage by tenants and rent default depend on the policy options available in your state. Check the PDS for your address.
Who underwrites AAMI landlord insurance?
AAMI is part of the Suncorp Network, one of Australia's largest general insurance groups.
How does AAMI's claims process work?
Claims lodge online or by phone around the clock, with approved repairers used for building work. Keep your tenancy documentation organised - tenant-related claims are assessed on it.
Compare the alternatives
Every review is written against the same framework, so the differences you see between them mean something.
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