Where do car premiums go?

We understand that changes to your premium can be confusing. As a guide we have broken down where insurance premiums go, because it’s important to us that you know where your money is going.

What data did we use?

  • The information above is based on data aggregated across all AAI Limited Motor Policies and is calculated based on the period from 1 July 2021 to 30 June 2023. The data may vary from time to time, depending on the measurement period. 
  • AAI Limited Motor Policies mean comprehensive, fire, theft and third party property damage, third party property damage, motorcycle, caravan and motor home policies of all the AAI Limited Brands, issued by AAI Limited ABN 48 005 297 807 between 1 July 2021 and 30 June 2023 and includes policies with all types of optional covers. It does not include CTP/MAI insurance, boat insurance or motor cover under a business policy.
  • AAI Limited Brands mean AAMI, GIO, Suncorp Insurance, Apia, Shannons, Bingle Insurance, CIL Insurance, Vero Insurance and Essentials by AAI.
  • Percentages are rounded to the nearest whole number.
  • ‘Where do premiums go’ may differ and may change from time to time. The information is intended to be of general nature only. Subject to any rights you may have under any law, we do not accept any legal responsibility for any loss or damage, including loss of business or profits or any other indirect loss, incurred as a result of reliance upon the information. Please make your own enquiries.

What impacts premium?

The below general information is relevant to GIO car (including platinum comprehensive; comprehensive; fire, theft and third party property damage; third party property damage cover), motorcycle (including comprehensive; fire, theft and third party property damage; third party property damage cover) and caravan insurance (including comprehensive, onsite and, trailer and horse float cover), unless otherwise stated. Please refer to your relevant policy documents for more detail.

Many factors can impact the amount of premium that we charge our customers, some key matters are set out below. In addition to change in circumstances impacting your cover, premiums are also impacted by changes in our pricing practice, pricing factors and how we calculate premium from time to time.

How can I review my premium?

The below general information is relevant to GIO car (including platinum comprehensive; comprehensive; fire, theft and third party property damage; third party property damage cover), motorcycle (including comprehensive; fire, theft and third party property damage; third party property damage cover) and caravan insurance (including comprehensive, onsite and, trailer and horse float cover), unless otherwise stated. Please refer to your relevant policy documents for more detail.

Review your policies to make sure all details are correct. Some changes can impact your premium if they affect the premium factors. Below are some ways you can influence how much premium you pay under our suite of GIO car products where relevant. When reviewing your policy, you should always consider your own personal circumstances and check whether your policy suits your own needs.

Disclaimers:

The information is intended to be of general nature only. Subject to any rights you may have under any law, we do not accept any legal responsibility for any loss or damage, including loss of business or profits or any other indirect loss, incurred as a result of reliance upon the information. Please make your own enquiries.

The information provided is accurate and true as of 7th September 2023, noting we may change our pricing practice (and the premium factors) from time to time.


GIO car, motorcycle and caravan insurance issued by AAI Limited ABN 48 005 297 807 trading as GIO. Please read and consider the relevant Product Disclosure Statement before you make any decisions about any insurance products buying this insurance. Go to www.gio.com.au for a copy. The Target Market Determination is also available. This advice has been prepared without taking into account any person’s particular objectives, financial situation or needs, so you should consider whether it is appropriate for you before acting on it.