Your home insurance premium is based on the amount you insure your home and/or contents for – this is called the sum insured. It also takes into account a range of other factors, including:

• your circumstances
• your home and its contents
• the address of the insured home or unit
• the amount you insure your home or contents for (sum insured)
• the type of insurance you have chosen (home, contents, or both)
• the level of cover you have chosen (Classic, Classic Extras or Platinum)
• any optional/additional covers you choose
• construction material and other characteristics of the home or unit
• the age of the oldest insured person on the policy
• how the home or unit is occupied, and
• the standard excess you choose.

These are some of the factors we consider when calculating your premium.

We also consider other factors, such as:

• the cost of claims we’ve paid
• claims we expect to pay in the future
• changes in taxes, duties or levies, and
• our cost of doing business.

For more detail, read the Home and Contents Insurance Additional Information Guide (AIG).