What's changing for GIO
We’re making changes to how we calculate your premium
We want to let you know about important updates to your premium. As part of our strategy to simplify our products and pricing, certain discounts will no longer be offered. Importantly, this is not about increasing our prices. These changes reflect a broader industry move towards reducing pricing complexity. We remain focused on providing great value and competitive cover that’s right for you, to help you protect what matters.
Summary of the discount changes
These discount changes will begin from 1 August 2026. This means for new and renewing policies with a start date on or after 1 August 2026, the discounts listed below will no longer be applied. For renewing policies, there are some exceptions to this, which are outlined in the table below.
*Eligible personal insurance policies are GIO Home Building, Home Contents, Landlord Property, Landlord Contents, Car (all levels of cover), Motorcycle (all levels of cover), Caravan (including trailer) and Boat Insurance (all levels of cover). A GIO NSW CTP Green Slip and a GIO ACT MAI insurance policy count as eligible policies, but the premium for these policies can’t be discounted.
Other reasons why your premium may change
We remain committed to providing fair, and competitive premiums. We regularly review our pricing approach, so each year your premium is likely to change, even if your circumstances haven’t. We calculate your premium based on:
- your risk
- the excess you choose, and
- the type of insurance and optional covers that you choose
- compulsory government charges such as stamp duty and GST, and
- Emergency Services Levy, where applicable.
This isn’t a list of all our factors. The factors we use can change and how these might combine to affect your premium will differ from person to person.
The premium you pay is also affected by other things including (but not limited to):
- the cost of claims we’ve paid to other customers and claims we expect to pay in the future
- our expenses of doing business
- insurance market conditions
In addition, broader trends, like severe weather and rising construction and repair costs, affect insurance costs for everyone, even if nothing has changed for you personally.
What you need to do
You don’t need to do anything because of these changes. However, if you have further questions, you can read our frequently asked questions below.
We are simplifying our approach to pricing and remain committed to offering fair and competitive premiums to deliver the best value products.
Yes, in some cases, you may still see a Multi-Policy Discount applied to your policy for one renewal. Refer here for more details.
Yes, any No Claim Bonus you have qualified for will be applied for one final time on your first renewal on or after 1 August 2026. Refer here for more details.
For details on GIO Claims Free Savings, refer to the Additional Information Guide that applied at the commencement date of your previous policy term at www.gio.com.au/policy-documents/car-insurance.
Not necessarily. If the change you need to make doesn’t require us to create a new policy, then you will continue to receive any eligible discounts until your next renewal. Changes such as payment method, payment frequency, and listed drivers are some examples of changes that can be made without creating a new policy. If you are concerned your changes may affect your discount, please give us a call.
When a policy is cancelled due to missed payments, a new policy will need to be created. A policy created on or after 1 August 2026 will reflect our strategy to simplify our products and pricing, and these discounts will not apply.
Still have questions?
If you still have questions about these changes or how they may affect your policy you can chat with us or call 13 10 10.
Exceptions for renewing policies
Multi-Policy Discount
In some cases, you may see a Multi-Policy Discount on a renewing policy before 1 December 2026. That’s because you purchased your third eligible policy before 1 December 2025 and qualified for Multi-Policy Discount on your existing policies. If your policy documents show Multi-Policy Discount, it means this discount has been applied to your premium. However, it will be removed on the following renewal.
Combined NSW CTP Green Slip Discount
For a renewing policy commencing before 3 December 2026, you will receive a Combined NSW CTP Green Slip Discount one final time, provided you still hold your NSW CTP Green Slip and Platinum or Comprehensive insurance with GIO. If your certificate of insurance shows a Combined NSW CTP Green Slip Discount, it means the discount has been applied to your premium. However, it will be removed on the following renewal.
Claims Free Savings and No Claim Bonus
For existing policies that commenced before 1 August 2026, any Claims Free Savings credit or No Claim Bonus you have qualified for will be applied for one final time on your first renewal on or after 1 August 2026. If a Claims Free Savings credit or No Claim Bonus is applied, it will be shown on your certificate of insurance. However, these discounts will be removed on the following renewal.
For details on GIO Claims Free Savings and No Claim Bonus, refer to the Additional Information Guide that applied at the commencement date of your previous policy term at Insurance Policy Documents | GIO
