Why we’ve made changes to our excess structure
Queensland has been experiencing the impact of increasing claims costs over the past couple of years. RACQ remains acutely aware of the cost-of-living pressures this has put on our members, and we don’t make decisions on changing our members’ policies lightly.
To combat the increase in claims costs, we've increased some of our excess levels. This means your excess may change when you renew your RACQ Home Insurance.Who do these changes impact?
These changes may impact members who hold an RACQ Home Insurance policy that is due to renew between 10th July 2023 and 9th July 2024. The change is relevant for all home policies, which includes building policies, contents policies and combined building and contents policies.
FAQs
Things to note
Insurance Products (excluding Travel Insurance) are issued by RACQ Insurance Limited ABN 50 009 704 152 (RACQI) and arranged by its agent, RACQ Distribution Services Pty Ltd (RDS) ABN 35 116 361 650, AFSL 567130 and RDS' authorised representatives (including RACQ Operations Pty Ltd ABN 80 009 663 414, AR No. 234978 (RACQO). Conditions, limits and exclusions apply. RDS and RACQO are in the RACQ group of companies. One of the companies in the RACQ group of companies has a minority shareholding in RACQI.
RDS and RACQO have not taken your personal objectives, circumstances or needs into account when preparing advice regarding insurance products and you will need to consider whether the advice is appropriate for you. Read the Product Disclosure Statement (PDS) and any applicable Supplementary PDS before making a purchase decision on this product. You can also access our Target Market Determinations on this website. RDS receives a commission from RACQI for the policies it arranges. RACQO receives fees paid for services it provides to RDS. Further details about remuneration are available on request prior to purchasing.