Why does my Home Insurance sum insured go up every year?
Last updated 02 February 2016
The amount we insure your home and contents for is automatically adjusted when your policy is renewed each year, to help keep pace with inflation and other rising costs. The premium you pay might also go up, to cover the increase in your sum insured.
It’s important to understand that you’re responsible for making sure that the amount your home and contents are insured for is accurate at all times. Our Home Building and Home Contents calculators can help you work out your sum insured.
You can call us on 13 2423 if you need to update your Sum Insured.
Important information: Home Insurance is provided by Commonwealth Insurance Limited ABN 96 067 524 216 AFSL 235030 (CIL). CommInsure is a registered business name of CIL. CIL is a wholly owned non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124 (The Bank). The Bank does not guarantee the obligations or performance of CIL or the products it offers. This information is provided by CIL and where we refer to ‘we’, 'us' and ‘our’, we mean CIL. You can download a Product Disclosure Statement (PDS) and Financial Services Guide (FSG) or call us on 13 2423 for a paper copy.