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2023-12-22 2:05 pm

Car Insurance

Cover your car inside and out with comprehensive car insurance to suit your needs.

Why Bank Australia Insurance?

Bank Australia

Australia's first customer-owned bank, with a 65+ year legacy of shared values for people and the planet, offering cover for our customers.

24/7 online claims lodgement

There’s never a good time for accidents. Our friendly Australia-based team can help you lodge claims when you need it most.

Trusted partners

We’ve partnered with Honey Insurance and RACQ Insurance to offer cover for your unique life situation.

Attention: Bank Australia customers with an Allianz Insurance policy
If you have purchased a policy before 18 October 2024 insured by Allianz Insurance, you'll be able to read more about your policy and submit a claim here.
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The confidence of car protection for every trip

Get comprehensive car insurance that protects your car at home, on the road or travelling, with emergency repairs, key replacement and hire cars for eligible incidents.

Summary of benefits

Emergency accommodation or travel

Help covering short-term accommodation and transportation (up to $100 daily to a total of $1,500) if an incident is more than 100km from home.

Loss or damage

If your car is stolen or damaged as a result of an insured event, we'll cover the costs for your car up to the sum insured.

Baby capsules & child seats

Cover up to $1,500 to replace baby capsules or child seats fitted to your car that are stolen or damaged in an incident.

Lifetime repair guarantee

Guarantee for repairs and to fix any faulty workmanship for as long as you or a family member own the car.

New car replacement for total loss

If your car is under 2 years old and was either purchased new or is a demonstrator car.

Hire car after not-at-fault collision or theft

Cover to hire a similar-sized car if yours has been stolen (up to $150 per day for up to 21 days) or involved in a not-at-fault collision (up to $150 per day.

Personal property

Cover the loss or damage to your personal property (up to $1,500) inside your car due to an incident.

Key & locks

If your car keys are lost or stolen, get covered to replace and recode the keys and locks (up to $1,500).

Emergency repairs

Cover for emergency repairs arranged by you to ensure your car is safe to drive (up to $1,500).

These are only some of the highlights and benefits of our cover options for motorists. Terms and conditions apply. Please refer to the Product Disclosure Statement (PDS) for details on insured events that can impact claims, as well as other exclusions and limitations. Our TMD and FSG will also help you decide if the cover is appropriate for you.

Frequently asked questions

What type of motor insurance does Bank Australia Insurance offer?

We offer comprehensive car insurance only and do not offer compulsory third party (CTP) or any other forms of motor insurance.

What is the difference between comprehensive car insurance and compulsory third-party motor insurance?

Comprehensive car insurance is a policy that provides the most protection for your vehicle. It covers your car for a range of different circumstances including:

  • Cover for the loss or damage to your vehicle in an incident, theft, fire or weather event
  • Payment for any emergency repairs to your vehicle up to $1,500 or for the cost of hiring a car when yours has been stolen (up to $150 per day up to 21 days)
  • Third party liability cover for when you cause damage to someone else’s vehicle or property

Compulsory third party (CTP) insurance protects drivers from the financial impact of causing injury or death as the result of a motor vehicle incident.

What am I covered for?

Bank Australia Comprehensive Car Insurance covers your vehicle against loss or damage as a result of an insured event. For a full list of the insured events we cover, please refer to our PDS.

How much should I insure my vehicle for?

While we aren’t able to provide you with advice on the replacement costs of your vehicle or how much to insure it for, we use the information you give us and data sourced from third parties to recommend an amount of cover you should have. You should use this recommendation as a guide only. Bank Australia Insurance uses agreed value, rather than market value, when determining how much to insure your vehicle for.

What is the difference agreed value and market value?

Agreed value

When you choose an agreed value policy, the value of your vehicle will be mutually agreed on by you and Bank Australia Insurance. This value will remain valid until your next renewal. At renewal, if you do not agree with the new value you have been offered, you can call us to discuss this.

Market Value

When insuring your vehicle for a market value, the value of your vehicle will be determined when you make a claim for an incident. This will be calculated based on your local car market, the age and condition of your vehicle and the kilometres it has travelled.

Supporting 
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Need additional assistance?
Head to support page for more information.

Disclaimers

For more information or if you want to chat about your Bank Australia Insurance cover, contact us on 132 888 or visit our website at insurance.bankaust.com.au

Bank Australia Limited ABN 21 087 651 607, AFSL 238431 arranges this insurance as an agent for Honey Insurance Pty Ltd ABN 52 643 672 628, AFSL 528244. Insurance issued by RACQ Insurance Limited ABN 50 009 704 152, AFSL 233082 and distributed by Honey Insurance Pty Ltd and Bank Australia Limited (on behalf of Honey Insurance Pty Ltd). Terms, Conditions, limits and exclusions apply. This is general advice only and does not take into account your personal objectives, financial situation or needs and may not be right for you. If you purchase a general insurance product, Bank Australia Limited is paid a commission which is a percentage of your premium. Always read the PDS, any applicable SPDS, FSG and TMD available at insurance.bankaust.com.au/documents before making any decision.

Disclaimers about your Allianz policy

Important note: Insurance underwritten by Allianz is no longer available for new insurance policies.

The following product information is for existing Allianz insurance policyholders:
If you first purchased your policy before 18 October 2024, a different Product Disclosure Statement applies and your policy is underwritten by Allianz Australia Insurance Limited (Allianz) ABN 15 000 122 850 AFS Licence No. 234708. This will remain in effect until your next renewal date after 18 October 2025. Please refer to the documents sent to you with your latest policy terms, or contact Allianz on 13 26 64 for assistance.

To find out more or make a claim, simply visit Allianz website Claim Notification or call 13 10 13.