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Insurance disclosures

Familiarising yourself with the fine print of insurance disclosures.

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Important documents

Our disclosures contain important details that are designed to help you better understand our products and services, and give you enough information to make an informed decision.

When you take out a new product through Bank Australia, you will receive a product disclosure document with all the terms and conditions. We encourage you to familiarise yourself with the terms and conditions and your rights and obligations that come along with using our products and services.

If you have any questions or something is unclear please give us a call on 132 888.

NOTE: To download these documents in Acrobat Reader format, click on the links below. If you do not have the free Acrobat Reader program required to open PDF files, click to the Acrobat website to download the Acrobat Reader program.

Conditions should be read in conjunction with the savings and loans schedules provided in the table below, in addition to the Privacy Policy.

Home & Contents Insurance

Home Insurance
Landlord Insurance

Motor & Pleasure Craft

Motor Policy
Caravan & Trailer Policy
Pleasure Craft Policy

Consumer Credit Insurance

'How to Pay' - Five Year Mortgage Repayment Insurance & Loan Cover

Home insurance disclosures

Bank Australia Limited ABN 21 087 651 607 AFS Licence No. 238431 arranges this insurance as agent for the insurer Allianz Australia Insurance Limited (Allianz) ABN 15 000 122 850 AFS Licence No. 234708. We do not provide any advice based on any consideration of your objectives, financial situation or needs. Terms, conditions, limits and exclusions apply. Before making a decision please consider the Product Disclosure Statement. The relevant Target Market Determination is available at http://www.einsure.com.au/wb/redirect/TMD-Householders. If you purchase this insurance, Bank Australia will receive a commission that is a percentage of the premium (including renewals and variations) and may be entitled to a profit share or marketing allowance if certain thresholds are met in agreed periods regarding this and other types of insurance policies entered into under Bank Australia’s arrangements with Allianz. Details are provided in the Financial Services Guide, available in branch, by calling 132 888 or at https://www.bankaust.com.au/

1. Online discount

[Home] When you quote and buy a new home insurance policy online, a discount of up to 10% is applied to your first year's premium including the following optional covers (if selected): Accidental damage, Flood, Motor Burnout and Portable Contents. This discount is not applied on renewal.

2. Minimum premiums

If you are eligible for more than one discount, Allianz applies them in a predetermined order. This means any subsequent discount will be applied to the reduced premium amount after applying any prior discounts and the effect of the subsequent discount will be reduced. For example, the aggregate effect of applying two 10% discounts consecutively means that you will not see the full benefit of both these discounts.

Discounts do not apply to taxes or government charges.

Discounts do not apply to optional covers for Domestic Workers Compensation / Landlord Workers Compensation, and may not apply to other optional covers (if available and selected).

Any discounts/entitlements may be subject to rounding and may only apply to the extent that any minimum premium is not reached.

3. Instalment premiums

If you choose to pay your premium by instalments you do not pay us any more than if you pay your premium in one lump sum annually. The premiums payable by instalments may be subject to minor adjustments (upwards or downwards) due to rounding. Note: Your financial institution may apply transaction fees to instalment payments.

4. Combined

[Applies to Home & Contents only] A discount of up to 10% for combining Buildings and Contents covers on one policy is applied for Building and Contents, Motor Burnout and Accidental damage cover where applicable. The combined policy discount does not apply to the optional Flood or Portable Contents covers. This combined discount does not apply to Landlord Insurance policies.

5. 72 hour waiting period

We do not provide cover for any loss of or damage to your property caused by flood, cyclone, grassfires and bushfires, during the first 72 hours after you first purchase a policy or increase your cover under an existing policy.

Motor insurance disclaimers

Bank Australia Limited ABN 21 087 651 607 AFS Licence No. 238431 arranges this insurance as agent for the insurer Allianz Australia Insurance Limited (Allianz) ABN 15 000 122 850 AFS Licence No. 234708. We do not provide any advice based on any consideration of your objectives, financial situation or needs. Terms, conditions, limits and exclusions apply. Before making a decision please consider the Product Disclosure Statement. The relevant Target Market Determination is available at www.einsure.com.au/wb/redirect/TMD-DomesticMotor-Comprehensive and www.einsure.com.au/wb/redirect/TMD-DomesticMotor-TPPD. If you purchase this insurance, Bank Australia will receive a commission that is a percentage of the premium (including renewals and variations) and may be entitled to a profit share or marketing allowance if certain thresholds are met in agreed periods regarding this and other types of insurance policies entered into under Bank Australia’s arrangements with Allianz. Details are provided in the Financial Services Guide, available in branch, by calling 132 888 or at https://www.bankaust.com.au/

1. Minimum premiums may apply. Any discounts / entitlements may be subject to rounding and only apply to the extent any minimum premium is not reached. If you are eligible for more than one, we also apply each of them in a predetermined order to the premium (excluding taxes and government charges) as reduced by any prior applied discounts / entitlements. Discounts may not be applied to the premium for optional covers.

2. The online discount applies when you quote and buy a new Comprehensive Motor Insurance policy online only. Any online discounts offered are applied to Allianz's standard rates, excluding optional covers, and are for the first year’s premium only, unless otherwise stated. Promotional or other discounts may apply from time to time for customers who apply for insurance via other methods.

3. Safe Driver Discount applies to Comprehensive Motor Insurance policies only. Any discount entitlement is determined by the insurance history and driving history of all drivers on the policy and the number of claims made by them. If eligible, the maximum Safe Driver Discount that may be applied on new policies is up to 10%.

4. Premiums payable by instalments may be subject to minor adjustments (upwards or downwards) due to rounding and financial institution transaction fees may apply.

5. In certain circumstances we may agree with you to use another repairer than the one that you selected. We will act reasonably in doing so

6. We will extend your rental car or daily travel allowance period to the extent that we caused or contributed to the delay in repairing your vehicle

7. Subject to underwriting limits.

Landlord insurance disclaimers

Bank Australia Limited ABN 21 087 651 607 AFS Licence No. 238431 arranges this insurance as agent for the insurer Allianz Australia Insurance Limited (Allianz) ABN 15 000 122 850 AFS Licence No. 234708. We do not provide any advice based on any consideration of your objectives, financial situation or needs. Terms, conditions, limits and exclusions apply. Before making a decision please consider the Product Disclosure Statement. The relevant Target Market Determination is available at www.einsure.com.au/wb/redirect/TMD-Landlords. If you purchase this insurance, Bank Australia will receive a commission that is a percentage of the premium (including renewals and variations) and may be entitled to a profit share or marketing allowance if certain thresholds are met in agreed periods regarding this and other types of insurance policies entered into under Bank Australia’s arrangements with Allianz. Details are provided in the Financial Services Guide, available in branch, by calling 132 888 or at https://www.bankaust.com.au/

1. Online discount

[Landlord] When you quote and buy a new Landlord insurance policy online, a discount of up to 10% is applied to your first year's premium including the optional covers (if selected): Flood & Rent Default and Theft by Tenant. This discount is not applied on renewal.

2. Minimum premiums

If you are eligible for more than one discount, Allianz applies them in a predetermined order. This means any subsequent discount will be applied to the reduced premium amount after applying any prior discounts and the effect of the subsequent discount will be reduced. For example, the aggregate effect of applying two 10% discounts consecutively means that you will not see the full benefit of both these discounts.

Discounts do not apply to taxes or government charges.

Discounts do not apply to optional covers for Domestic Workers Compensation / Landlord Workers Compensation, and may not apply to other optional covers (if available and selected).

Any discounts/entitlements may be subject to rounding and may only apply to the extent that any minimum premium is not reached.

3. Instalment premiums

If you choose to pay your premium by instalments you do not pay us any more than if you pay your premium in one lump sum annually. The premiums payable by instalments may be subject to minor adjustments (upwards or downwards) due to rounding. Note: Your financial institution may apply transaction fees to instalment payments.

4. Option to change your excess

Not available when an additional compulsory excess or imposed excess applies. Minimum Premiums apply.

5. 72 hour waiting period

We do not provide cover for any loss of or damage to your property caused by flood, cyclone, grassfires and bushfires, during the first 72 hours after you first purchase a policy or increase your cover under an existing policy.


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