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Understanding your Car Insurance cover

Important notice

Here’s a summary of key features of Bank of Melbourne Car Insurance, provided by Allianz. It doesn’t provide a complete statement of the cover offered; exclusions, conditions and limits that may apply. For more details on what’s covered and what may not be covered, you should read the Product Disclosure Statement.

Product Disclosure Statement (PDS) (PDF 1MB)

Premium, Excess, Discount and Options Guide (PED) (PDF 6MB)

What’s covered?

Comprehensive Car Insurance offers extensive cover including accidental loss of, or damage to, your vehicle and damage caused to others' property. It can also offer protection from potential significant legal liability in case of an accident.

Refer to page 19-24 of the Product Disclosure Statement (PDS) (PDF 1MB)

Summary of features, options and exclusions
Comprehensive
Third Party
Property Damage
Accidental loss of or damage to your vehicle    
New for old replacement – less than 2 years old    
Child seat or baby capsule – $500 any one incident    
Emergency repairs – $500 any one incident    
Emergency accommodation and travelling expenses – $1000 any one incident    
Lock Re-keying/Re-coding – $1000 any one incident    
Personal items – $1000 any one incident    
Rental car after theft – 30 days, $100 per day maximum    
Temporary cover on replacement vehicle – 14 days    
Towing Reasonable costs    
Trailer and caravan cover – $1000 or market value whichever is the lesser any one claim    
Transportation costs – $500 any one incident    
Legal liability – $20,000,000 any one event or series of events    
Substitute vehicle (liability)    
Legal costs – All    
Employer’s or principal’s liability    
Supplementary bodily injury (liability) – $20,000,000 any one event or series of events    
Uninsured motorists extension    

Additional benefits

Comprehensive Cover only

This is a summary of included additional benefits for an accepted claim for accidental loss of or accidental damage to your vehicle. 

Any additional benefit payment will be on top of any amount payable for the loss of or damage to your vehicle. 

Refer to page 19-24 of the Product Disclosure Statement (PDS) (PDF 1MB)

Cover for the accidental loss of (including theft) or damage to your vehicle.

Optional cover (at an extra cost)

This optional cover provides you with a rental car (or a daily travel allowance of $50 if a car isn’t available) for up to 30 days while your vehicle is being repaired.1 Allianz will arrange a rental car for you. If you arrange one without their consent, they may not pay for the one you arrange.

Excess and discounts

There are different types of excesses and discounts that can apply, and these are shown on your policy schedule. You may receive more than one discount and you may have to pay more than one excess.

Excess

An excess is the amount you may need to contribute at the time of a claim. You won’t have to pay an excess if you or the driver of your car wasn’t at fault, you have the name and contact details of the person who was, and the claimable loss is recoverable by Allianz. An excess may apply in all other circumstances.

The amount you contribute to a claim. You can change your basic excess within a set range, and this can impact your insurance premium.

A safe driver discount of up to 15% may be applied to your policy. This discount is calculated based on our insurance history, driving history and the number of claims you have made. The maximum discount that can be received when you take out a new policy is 10%.

Discounts don’t apply to any optional extras you add to your policy and are applied prior to adding government charges, levies and GST to your premium.

Refer to page 6-7 of the Premium, Excess, Discount and Options Guide (PED) (PDF 6MB)

What won’t be covered

There are certain situations and conditions where you won’t be covered and won’t be able to make any type of claim. These include, but are not limited to:

Your vehicle being driven by an unlicensed or declined driver, or a driver under the influence.

The Detail

1Allianz will arrange a rental car of a similar size and type to your car after a covered collision for a maximum of 30 days while Allianz either fixes your car, pays you the cost of repairs, or determines if your car is a total loss. If a rental car of a similar size and type (e.g. medium SUV) is not available, Allianz will pay you a travel allowance of $50 a day. 

2Allianz may agree with you to use a repairer (other than the one you selected) or pay you reasonable repair costs. Allianz will act reasonably in doing so.

3If 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 of these discounts. Discounts do not apply to taxes or government charges. Discounts may not apply to optional covers selected. Any discounts or entitlements may be subject to rounding. Most discounts won’t apply below the minimum amount payable for the policy.

4Reduce your premium by listing your drivers. If you choose to reduce your premium by naming drivers on your policy, an unnamed driver will incur a $2,500 excess (this replaces the basic and all other excesses where applicable).

Any financial product advice provided on this page is general in nature and does not take into account your personal circumstances. Before making a decision, please consider the relevant Product Disclosure Statement (PDS), supplementary PDS (if applicable)Premium, Excess, Discount and Options Guide (PED) (PDF 6MB) and Target Market Determination (TMD). ​​

Motor Insurance is issued by Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 (Allianz). Bank of Melbourne – A Division of Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714 (the Bank) arranges the initial issue of the insurance under a distribution agreement with Allianz but does not guarantee the insurance.

By selecting 'Get a quote' you will enter a third-party site hosted by Allianz. Any personal information you provide to Allianz will be collected, used and disclosed in accordance with Allianz’s Privacy Statement and Privacy Policy available on their website

If you purchase Motor Insurance with Allianz the Bank will receive a commission of up to 12% of the premium excluding Government fees and charges, plus GST.

Bank of Melbourne's Privacy Statement is available at bankofmelbourne.com.au/privacy/privacy-statement or by calling 13 22 66. It covers:​

  • How you can access the personal information Bank of Melbourne holds about you and ask for it to be corrected;​
  • How you can complain about a breach of the Privacy Act 1988 (Cth) or a registered Code by Bank of Melbourne and how Bank of Melbourne will deal with your complaint; and​
  • How Bank of Melbourne collect, hold, use and disclose your personal information in more detail.