Premium rates effective from 1 October 2022
Metro Base Rate
| H01 – New Single Dwelling | 0.886% |
| H02 – Building Work to an Existing Residential Apartment Building | 6.177% |
| H03 – New Residential Apartment Building Construction | 5.310% |
| H04 – Building Work to an Existing Single Dwelling | 0.859% |
| H05 – Swimming Pools | 0.490% |
Rural Base Rate
| H01 – New Single Dwelling | 0.709% |
| H02 – Building Work to an Existing Residential Apartment Building | 4.942% |
| H03 – New Residential Apartment Building Construction | 4.248% |
| H04 – Building Work to an Existing Single Dwelling | 0.687% |
| H05 – Swimming Pools | 0.392% |
Note: Rates in the table above are for rural areas. A 20% discount applies
Key features of the premium changes:
- The new construction type premiums reflect the latest assessment of break-even premium rates for all construction types.
- A reduction in premium for most construction types.
- The minimum premium of $200 plus statutory charges, stamp duty and GST remains unchanged.
Current Premium Rates for C0 Contruction Types
Note: following the introduction of the new H0 construction types these C0 rates will only apply to C0 construction type policy change transactions that were quoted and bound on or before 30 September 2022.
Current Codes (C Type) and Metro Rates
| C01 – New Single Dwelling | 0.837% |
| C02 | 6.364% |
| C03 | 5.213% |
| C04 – Single Dwelling Alterations | 0.894% |
| C05 – Swimming Pools | 0.469% |
| C06 – Renovations | 0.280% |
| C07 – Other – Not included above | 0.284% |
| C08 – Multi Unit Renovations | 1.696% |
| C09 – Duplexes, Dual Occupancy, Triplexes, Terraces (new Single Dwellings with a Granny Flat) | 0.837% |
Current Codes (C Type) and Rural Rates
| C01 – New Single Dwelling | 0.669% |
| C02 | 5.091% |
| C03 | 4.170% |
| C04 – Single Dwelling Alterations | 0.715% |
| C05 – Swimming Pools | 0.375% |
| C06 – Renovations | 0.224% |
| C07 – Other – Not included above | 0.227% |
| C08 – Multi Unit Renovations | 1.575% |
| C09 – Duplexes, Dual Occupancy, Triplexes, Terraces (new Single Dwellings with a Granny Flat) | 0.837% |