Understanding when you’re eligible for a refund from AAMI is key:

• 21-Day Cooling-Off Period: Cancel your policy within 21 days of starting or renewing (provided no claims have been made) and receive a full refund.
  
  
• After 21 Days (Pro-Rata Refunds): If you cancel after the cooling-off period, you’ll receive a refund of your unused premium, minus applicable administrative fees (usually around $30) and any non-refundable government charges.
  
  
• Exclusions:
  
  
  • No refunds if a claim (especially total loss) has been made.
    
    
  • Refunds below $10 aren’t provided.
    
    
  • Government fees (stamp duty) are non-refundable.
    

AAMI makes refunds straightforward. Follow these clear steps:

1. Check Your Refund Eligibility

• Confirm you're within the 21-day cooling-off period for a full refund.
  
  
• After 21 days, understand your refund will be pro-rated minus fees.
  
  

2. Initiate Cancellation (Online or Phone)

• Use the AAMI online account portal or AAMI app to cancel your policy.
  
  
• Alternatively, call 13 22 44 to speak to customer support directly.
  
  

3. Provide Your Policy Details

• Clearly specify your policy number and cancellation date.
  
  
• Mention explicitly if within the cooling-off period to ensure accuracy.
  
  

4. Receive Confirmation

• AAMI will confirm your cancellation and refund amount.
  
  
• Request written (email) confirmation for your records.
  
  

5. Follow-Up if Needed

• Most refunds process quickly. If not received within 10 business days, contact AAMI customer support for an update.
  

Typically, your refund is processed swiftly:

• Cooling-Off Period Refunds: Usually received within 5–7 business days.
  
  
• Pro-Rata Refunds (after 21 days): Processed within approximately 10 business days.
  
  
• Delays: Uncommon but can occur due to administrative errors or banking delays. Contact AAMI support if your refund is overdue.
  

AAMI uses straightforward refund methods:

• Original Payment Method: Refunds issued directly back to your original payment source (e.g., credit card, debit card, direct debit bank account).
  
  
• Direct Debit Adjustments: Future payments stopped immediately upon cancellation. Excess amounts refunded to your linked bank account.
  
  
• Cheque (Rare Cases): Only if original payment methods fail (e.g., closed accounts), AAMI issues a cheque by mail.
  

Note: No in-person cash refunds available.

Being aware of common issues helps ensure a smooth refund:

• Unexpected Admin Fees: Many customers are surprised by admin fees (approx. $30) deducted from refunds after the cooling-off period.
  
  
  • Tip: Confirm potential fees upfront when cancelling mid-term.
    
    
• Delayed Refunds: Occasionally refunds take longer than expected due to technical or administrative glitches.
  
  
  • Tip: Follow-up after 10 business days if refund hasn’t appeared.
    
    
• Continuing Charges Post-Cancellation: Rare cases where direct debits continue post-cancellation.
  
  
  • Tip: Check bank statements to ensure no further charges occur; contact AAMI immediately if noticed.
    
    
• Small Refunds Not Issued: Refunds under $10 are not processed.
  
  
  • Tip: Be aware of this policy to avoid unnecessary follow-ups.