Bank of Queensland Car Insurance Review April 2021 | finder.com.au
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Bank of Queensland Car Insurance

Take advantage of flexible premium payment options and a lifetime guarantee on repairs.

Alexandra Koster
Alexandra Koster
Updated

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Bank of Queensland car insurance, provided by Vero Insurance Limited, offers three levels of cover to suit a variety of budgets. With the choice of agreed or market value comprehensive cover, combined with a lifetime guarantee on repairs and a wide range of other benefits, Bank of Queensland car insurance is well worth a closer look if you’re searching for the right cover for your vehicle.

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What policies are available?

Comprehensive

Bank of Queensland Comprehensive car insurance covers the loss of or damage to your vehicle caused by accident, theft and a wide range of other events including storm, fire and impact. It includes new for old replacement for vehicles that are less than two years old, as well as the freedom to choose your own repairer if you wish. $20 million of legal liability cover is also provided if your car causes loss or damage to another person’s property or death or bodily injury to someone else.

Third Party Property Damage, Fire & Theft

This mid-level policy provides you with up to $20 million of legal liability cover if your car causes loss or damage to another person's property or death or bodily injury to someone else. It also includes additional worth of cover for fire damage, theft and attempted theft of your car, up to the market value of your vehicle or $8,000, whichever is less. Cover for loss or damage caused when you are involved in a no-fault accident with an uninsured vehicle is also included.

Third Party Property Damage

Third Party Property Damage insurance from Bank of Queensland provides $20 million of legal liability cover when the use of your car results in the loss of or damage to someone else’s property or the death or bodily injury of another person. You will also be covered for accidents caused by uninsured drivers.

Bank of Queensland car insurance levels of cover

Comprehensive
  • Covers accidents, fire, theft and loss or damage caused by any other event
  • Choice of agreed or market value cover
  • New car replacement on vehicles less than two years old
  • Your choice of repairer
  • Lifetime guarantee on repairs
  • $20 million of legal liability cover
  • Restricted driver discount for drivers over 30
  • Covers towing and storage costs
  • Pay by the month at no extra cost
  • 30-day money-back guarantee
Third Party Property Damage, Fire & Theft
  • Covers fire, theft and attempted theft
  • Covers towing and storage costs
  • Hire car after theft
  • $20 million of legal liability cover
  • Cover for uninsured motorist damage
  • Flexible premium payment options
  • 30-day money-back guarantee
Third Party Property Damage
  • $20 million of legal liability cover
  • Cover for uninsured motorist damage
  • Flexible premium payment options
  • 30-day money-back guarantee

What won't be covered?

Your Bank of Queensland car insurance claim will not be paid if:

    • You fail to protect your vehicle against further loss or damage.
    • You fail to keep your vehicle in good condition.
    • You don’t provide the insurer with the documents and information needed to process your claim.
    • You do not report theft, malicious damage or an accident (where legally required to do so) to the police.
    • Your vehicle was being driven by someone under the influence of alcohol or drugs.
    • Your vehicle was being driven by someone who does not hold a current driver’s licence.
    • You have selected the restricted driver option and your vehicle was being driven by someone under 30 years of age.
    • Your vehicle is turbocharged, supercharged or over six cylinders and was being driven by someone under 25 years of age.
    • Your vehicle was being used in a race of any kind.
  • Your vehicle was being used for an unlawful purpose.
  • Your vehicle was being used to carry flammable substances, chemicals or explosives.
  • Your vehicle was being used to carry passengers for hire, fare or reward.
  • Your vehicle was carrying or towing a load greater than the legal limit or the manufacturer’s specifications.
  • Your vehicle was being used while in an unsafe or unroadworthy condition.
  • It is for loss, damage or liability incurred outside of Australia.
  • It results from an intentional act by you or someone acting with your consent.
  • It is for consequential financial loss.
  • It results from the lawful destruction or repossession of your vehicle.

What excess will be charged?

The excess is the amount you will have to pay when you make a claim under your Bank of Queensland car insurance policy. The following excesses may apply:

  • Basic excess. This excess applies to every claim you make unless your policy shows your basic excess amount as nil, or the insurer agrees that you do not have to pay this excess.
  • Inexperienced driver excess. This excess applies in addition to the basic excess if, at the time of loss or damage, the person driving your vehicle was over the age of 25 but had not held their licence for at least two years.
  • Age excess. This excess applies in addition to the basic excess if, at the time of loss or damage, the person driving your vehicle was under the age of 25.
  • Undisclosed driver excess. This excess applies if, at the time of loss or damage, the person driving your vehicle was under the age of 25 and was not listed on your policy. It is payable in addition to the basic excess and the age excess.
  • Underwriting excess. The insurer may choose to impose an additional excess based on a specific driver’s history or claims experience.

How to save on your Bank of Queensland car insurance policy

Keep the following tips in mind when looking for ways to save money on your Bank of Queensland car insurance premiums:

  • Restricted driver discount. You can take advantage of a premium discount if you restrict cover on your policy to drivers aged 30 or older.
  • Choose a lower level of cover. The lower your level of cover, the more affordable your premiums will be.
  • Minimise additional options. By reducing the number of extra-cost options you add to your policy, you can enjoy cheaper premiums.
  • Premium discounts. Bank of Queensland will sometimes offer discounted rates to specific drivers as part of a special promotion. Keep an eye out for these discounts when applying for cover.
  • Loyalty bonus. Long-time customers may be able to access a 5% discount.

Making a claim

If an event occurs that may lead to a claim, it’s essential that you contact your insurer as soon as possible with the details of what has happened. Vero operates a 24-hour claims line, which you can call for advice and to find out whether you need to take your vehicle to an Assessing Centre or to a repairer.

You must also make sure to take a few simple steps:

  • Report any theft or malicious damage to the police.
  • Do everything you can to limit or prevent further loss or damage.
  • If you’re involved in an accident, obtain the names, addresses and phone numbers of all other drivers and witnesses.
  • Provide any information the insurer needs to assess your claim.

Some final questions you might have

Bank of Queensland car insurance offers a wide range of benefits and flexible options to suit a variety of Australian drivers. Make sure to compare it with other insurance policies before deciding whether Bank of Queensland car insurance is the right cover for you.

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2 Responses

    Default Gravatar
    MichelleJune 18, 2018

    Please contact me on my phone number in reference to putting a name on my car insurance for someone else too drive it thankyou

    Reply
      Default Gravatar
      NikkiJune 18, 2018

      Hi Michelle!

      Thanks for your message and for visiting finder.

      As much as we’d want to give you a call, please note that we don’t stand as a representation for Bank of Queensland or any company featured on our site.

      To add another name on your car insurance, you may have to contact your insurance company to do this.

      Hope this clarifies.

      Regards,
      Nikki

      Reply
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