Multi-policy discount
Prior to 1 September 2023 this was/is referred to as a Personal Insurance Portfolio (PIP) discount (see below for more information)
Save 10% with a multi-policy discount
If you insure your home, contents and comprehensive car with us, we'll give you a 10% discount on your premium.
See the terms and conditions below for more information, including eligibility criteria.
How does it work?
When you insure a home, contents and comprehensive car with us, and all policies have the same client number noted on your policy documents, you’ll be eligible for the discount.
If all eligible policies commence at the same time, you’ll immediately receive a discount on all eligible policies.
If you already have two products with us, and you add a third and become eligible for the discount, you'll receive a 10% discount on the new product immediately, and then 10% on the existing two products at your next renewal.
Have other policies?
If you already have the three eligible policies, any additional boat, caravan, collector's car, and third party property car policies will also receive a discount.
Combined portfolio
You have the choice to combine multiple policies into an insurance portfolio. This means you would only have one renewal and one payment/payment plan. This can make it an easier way to manage your insurance.
Common questions
How do I arrange a multi-policy discount?
Effective from 1 September, you can call us on 13 27 22, visit a store or head online, but please ensure you have your client number ready.
What will happen to my Personal Insurance Portfolio (PIP) discount?
Policies that commenced or renewed prior to 1 September 2023 continue unchanged until renewal.
Eligibility criteria at renewal for our multi-policy discount are the same as eligibility criteria for the PIP discount. If you continue to hold home, contents and comprehensive car policies a MPD will apply to your policies in place of the previous PIP discount.
What is a combined portfolio?
You can choose to have multiple policies combined as a portfolio. This allows a single renewal document with the same renewal date and one payment plan. Many customers find this a simple way to handle multiple policies.
Can I keep my combined portfolio with a common renewal date and payment plan?
Yes. A combined portfolio is no longer a requirement to receive a discount, however, we continue to provide the option of a combined portfolio to our customers. If you currently have a combined portfolio it will continue at renewal as usual.
Want to get a quote online?
If you’re already a member with us, please have your client number handy, as this will also help us identify if you qualify for a multi-policy discount.
Terms and conditions
Multi-policy discount terms and conditions (effective 1 September 2023)
1. To qualify for a multi-policy discount, a member must hold at least one of each of the following eligible policies that share the same Client Number noted on policy documentation: Comprehensive Car, Home Building and Home Contents.
2. Once you qualify for a multi-policy discount, it will be applied (at the rate shown below):
· to each new policy from the start of the policy cover; and
· to each existing policy from its next renewal date, provided you still qualify at the time the policy is purchased or renewed.
3. The discount is generally applied to the premium before we add taxes and charges. A minimum premium may apply and the discount will not reduce the minimum premium. RACT may apply rounding in calculating premiums. No discount applies to any optional covers for which a fixed dollar amount is charged.
4. RACT will apply multi-policy discounts to policies at the following rate:
· Building – 10%
· Contents (including portable items) – 10%
· Comprehensive Car – 10%
· Third Party Property Damage – 10%
· Collector's Car – 10%
· Boat – 10%
· Caravan & Trailer – 10%
· Other policies – 0%
5. RACT reserves the right to vary or discontinue the multi-policy discount at any time and without notice.
Before buying insurance issued by RACT Insurance Pty Ltd (ABN 96 068 167 804, AFS licence 229 076) you should read the Product Disclosure Statement (PDS) which you can find along with the Target Market Determination (TMD) on our Insurance Documents page.