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Insurance / Renewing your home, landlord or car insurance

How to renew your home, landlord or car policy

You should receive a renewal letter at least 14 days before the renewal date, via post or email.

Here’s what to do:

  1. Review the accuracy of all the details in your Certificate of Insurance and compare it with your old policy
  2. Check your sum insured and excess(es) and decide if this level of cover is right for you
  3. Confirm or update your payment method

Typically, policies are set to automatic renewal. If this is applicable to you it would be stated on your Certificate of Insurance.  

If you are on manual renewal or need to make changes, call 13 1361 before your renewal date. 

Ways to save on your insurance premium

Changes that suit your needs, budget and circumstances can make differences later. 

Re-estimate your sum insured for building and contents insurance 

Regularly review the sum insured shown on your Certificate of Insurance, as your building or contents may have changed since you first took out your policy. 

You don’t want to overestimate your sum insured and therefore pay a higher premium or underestimate the sum and leave yourself underinsured.  

Building insurance calculator

Contents insurance calculator

Learn more about estimating your sum insured.

Tips to save on your home, landlord or car insurance premium

Here are actionable steps you can take to help save on your premiums.  

Save on home or landlord insurance

Save on car insurance

Pay monthly at no extra premium

Paying monthly instead of annually won’t cost you any extra premium, helping you spread the cost across the year. 

Benefits for CommBank customers

CommBank Yello

You could get cashback, discounts and more with CommBank Yello - our customer recognition program.

View the eligibility criteria and learn more about CommBank Yello.

See full Commbank Yello T&Cs for more details. 

Discounts

  • Get up to 15% off when you combine Home Building and Contents Cover1 
  • Get up to 10% off when you combine Landlord Building and Contents Cover1
  • Save up to 10% on Car Insurance when you apply online2

Renewal FAQs

Typically, policies are set to automatic renewal. If this is applicable to you it would be stated on your Certificate of Insurance. 

If you need to make changes or opt out of auto-renewal, call 13 1361.

Your insurance premium is likely to change when you renew your policy, even if your personal circumstances haven't changed. 

Each year your premium is determined using your latest information and external risk factors across Australia. Aside from your claim’s history, there are several factors taken into consideration when calculating your premium at renewal. This includes: 

  • Weather events 
  • Repair and supply costs 
  • Inflation 
  • The frequency of natural disasters 

For more information about how your premium discount/s and applicable excesses are determined, read the Premium, Excess and Discount Guide for your product on our website.

The cost of an insurance premium for home, landlord or car is typically made up of several components. Here is a snapshot: 

  1. Base premium 
  2. Government taxes and levies including the Emergency Services Levy (ESL), the Goods and Services Tax (GST) and Stamp Duty.

  1. Review your policy: Understand what's covered, including limits and exclusions. 
  2. Check your cover limits: Ensure you have enough cover to meet your needs, budget and circumstances.
  3. Regularly review your cover: Reassess your cover after significant life changes. 

You'll be given up to 14 days of temporary cover if you permanently replace your vehicle. These 14 days begin from the date you buy the new vehicle.

Call 13 1361 if you’ve bought a new car, as your policy will need to be updated.

For the temporary cover to apply:

  • You need to provide full details of the replacement vehicle within 14 days of taking ownership of it
  • You need to receive an agreement to cover the replacement vehicle
  • You need to pay any additional premium required

The temporary cover will be the same type as your existing cover. For example, if you have Comprehensive cover your temporary cover will also be Comprehensive.

Depending on the type of car you own, you can insure it for either market or agreed value. It’s important to note this is only available with Comprehensive Car Insurance.

Here’s what they are:

  • Agreed value is the amount that has been agreed to insure your car for. You will know the agreed value from your Certificate of Insurance.
  • Market value is the reasonable amount that the market would pay for your car immediately before it’s loss or damage, taking into account the age, make, model, condition and kilometres travelled, among other things. This means this amount could vary during your Period of Insurance and the value isn’t shown on your Certificate of Insurance.

You can find out more in the Product Disclosure Statement (PDS)

We’re here to help

  • Service - provided by Hollard

    Call 13 1361 to make changes to your existing policy. 

    • Mon – Fri, 8am - 8pm
      (Sydney/Melbourne time) 
    • Sat, 8am – 5pm (Sydney/Melbourne time)
      Call +61 2 9633 9391 from overseas.

  • Claims

    You can lodge a claim 24/7 in the My Claims Portal via NetBank or the CommBank app.  

    Alternatively, you can make a claim by calling 13 1361.

Things you should know

  • Distributed by Commonwealth Bank

    1 If you purchase combined Home Building and Contents Cover, a discount of up to 15% will be applied to your annual base premium. If you purchase combined Landlord Building and Contents Cover, a discount of up to 10% will be applied to your annual base premium.

    This discount cannot be used in conjunction with any other discount (other than those listed in the relevant Product Disclosure Statement (PDS) or any Supplementary Product Disclosure Statement) or offer, unless otherwise advised. This discount may be removed or changed effective from the renewal date. This discount cannot be backdated. This discount is calculated before taxes and government charges are applied.

    2 This discount cannot be used in conjunction with any other discount (other than those listed in the relevant Product Disclosure Statement (PDS) or any Supplementary Product Disclosure Statement), saving or promotional offer, unless otherwise advised. This discount may be removed or changed effective from the renewal date. This discount cannot be backdated. This discount is applied to annual base premium and excludes levies, Government charges and Roadside Assistance. To find out more about how your premium is calculated, read the PDS and Premium, Excess and Discount Guide (PEDG).

    Home Insurance, Landlord Insurance and Car Insurance are provided by Hollard Insurance Partners Limited ABN 96 067 524 216, AFSL 235030 (Hollard) and distributed by the Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (CBA). Hollard is the insurer of these general insurance products. Hollard is not part of the CBA Group. CBA does not guarantee the obligations or performance of Hollard or the products Hollard offers. Neither CBA, nor any of its related bodies corporate accepts liability or guarantees payment of any claim or benefit in respect of these general insurance products issued by Hollard. CBA may be paid a commission if Hollard issues you with a Home, Landlord and/or Car Insurance policy. Details are provided in the Financial Services Guide (FSG) by clicking on the link, or by calling 13 1361 for a paper copy.

    For products issued by Hollard, information about the target market can be found within the product’s Target Market Determination.

    This information has been prepared without considering your objectives, financial situation or needs. Before making any decision about this product you should consider this information in relation to your own circumstances. A Product Disclosure Statement (PDS) is available at all Commonwealth Bank branches, by downloading them from commbank.com.au or by calling 13 1361 and should be considered before making any decisions about this product. You should also read the Premium, Excess and Discount Guide (PEDG), Key Facts Sheets (KFS) and Financial Services Guide (FSG) by clicking on the links, or by calling 13 1361 for a paper copy.

    Hollard is a signatory to the General Insurance Code of Practice. The objectives of this Code are to:

    • commit insurers to high standards of service;
    • promote better, more informed relations between insurers and customers;
    • maintain and promote trust and confidence in the general insurance industry;
    • provide fair and effective mechanisms for resolving customer complaints; and
    • promote continuous improvements of the general insurance industry through education and training.

    The Code Governance Committee (CGC) is the independent body that monitors and enforces compliance with the Code.  It also aims to drive better Code compliance, helping the insurance industry to improve its service to consumers. For more information about the CGC, or to obtain a copy of the Code, please visit https://insurancecouncil.com.au/cop/ or phone 1300 884 934.