What's happening to our Loyalty Discount?

An excess is an amount that may apply and that you may need to contribute towards the cost of a claim. Depending on your policy and the type of claim you make, different excesses may apply.

An excess usually applies for most claims unless there's someone else we can recover the costs from, like the driver of another car who caused the accident. In some cases you’ll be asked to pay the excess to the repairer or supplier. We can also deduct it from any payment we make to you.

To find out which excess type applies to your policy, please refer to your policy document or view your policy in your online account.

For more general information about excesses, see our Premium, Excess and Discounts Guide.

For information on discounted car hire available for members of NRMA*, visit www.sixt.com.au

* National Roads and Motorists' Association Limited, ABN 77 000 010 506, trading as the NRMA, is a separate and independent company from Insurance Australia Limited, ABN 11 000 016 722, trading as NRMA Insurance. “NRMA” provides roadside assistance, membership, the My NRMA app, My NRMA Rewards, and other road and travel products and services.

The agreed value is only a one aspect of your policy's premium. As your car ages, the value may decrease but the parts can become more difficult to source in the event of a claim.

There are also other pricing factors that will affect your premium. For more information, please refer to the Premium, Excess & Discount Guide on our policy booklets page.

What you pay for your insurance is based on how likely you are to make a claim. We also consider things like discounts, excess, policy options and government charges.

To find out more about how we calculate your premium, read the Premium, Excess and Discounts Guide on our policy booklets page.

The price of your insurance is based on the likelihood of a claim being made on your policy in the future. There are a number of factors we take into account when determining your premium.

We calculate your premium by combining the:

• Pricing factors (these are different for car and home policies)
• Policy options
• Minimum and maximum premium
• Government charges
• Any discounts you’re eligible for.

To find out more about how we work out your premium, have a look at our Premium, Excess & Discounts Guide on our policy booklets page.