Beyond Bank's policies are issued by one of the biggest insurers in Australia, which is more comprehensive than others – but you may find a cheaper policy elsewhere.
Beyond Bank car insurance policies are underwritten by Allianz, with a 10% online discount for comprehensive cover.
The insurer received 494 complaints, fewer than some other large insurers in the recent financial period.
Comprehensive cover includes new for old replacement and rental car costs if stolen.
Our verdict
Pros
Its policies are issued by Allianz – one of Australia's most well-known and trusted insurers.
You get a 10% discount when you buy a comprehensive policy online.
Its comprehensive option goes further than other insurers – for example, you can get a $100 per day limit, up to 30 days for a rental car if your vehicle is stolen.
Cons
You may be able to get a cheaper policy elsewhere e.g. with Budget Direct or AAMI.
It doesn't offer third party fire and theft insurance.
Like most insurers, you'll need to pay extra to remove the basic excess for windscreen replacement or repairs.
What policies are available?
Comprehensive Car Insurance
Beyond Bank comprehensive car insurance provides Australia-wide cover for loss or damage to your vehicle caused by accidents, fire, theft, storm, malicious damage and more. This includes new for old replacement on vehicles less than two years old, as well as cover for towing costs, personal items and emergency accommodation. You can also enjoy the ability to choose your own repairer and the security of $20 million cover for legal liability when your car damages someone else's vehicle or property.
Third Party Property Damage Only
Third party property damage only insurance from Beyond Bank is an affordable policy option that provides $20 million cover for your legal liability. It also provides $5,000 cover for uninsured motorist damage, as well as the flexibility to pay your premiums annually or monthly.
Beyond Bank car insurance levels of cover
Comprehensive Car Insurance
Australia-wide cover for accidental loss or damage
New for old replacement on vehicles less than two years old
Save up to 10% when you buy online
Covers personal items, child seats and towing costs
24/7 claims service
$20 million legal liability cover
Third Party Property Damage Only
$20 million legal liability cover
Cover for damage caused by uninsured motorists
24/7 claims service
Flexible premium payment options
What won't be covered?
Your Beyond Bank car insurance claim will not be paid if:
Your car was being driven by an unlicensed driver
Your car was being driven by someone listed in the policy schedule as a declined driver
Your car was being driven by someone who was under the influence of drugs or alcohol
Your car was being used while exceeding load or passenger limits
Your car was being driven while in an unsafe or unroadworthy condition
Your car was being used to carry passengers for hire
Your car was being used in any kind of motor sport
Your car was being used in connection with the motor trade for trials, experiments or demonstrations
It is for any loss of use of your vehicle
It is for tyre damage caused by braking, road punctures or bursts
It results due to the lawful seizure of your car
You fail to properly safeguard your vehicle after an accident, theft or breakdown
Your car is stolen if you leave it unattended with the keys inside
It arises due to the failure of a computer or similar equipment
It is for loss or damage caused by cyclone, flood or bushfire in the first 72 hours of cover
Your car was subjected to a deliberate, intentional, malicious or criminal act by you, anyone named in the policy, or anyone acting with your consent
Is this cover right for me?
Beyond Bank has a number of eligibility requirements. For example, your vehicle will need to be roadworthy and registered with the relevant transport authority in Australia. The underwriter of this insurance, Allianz, specifies that the likely financial situation its products are suited to is as follows: "Persons who are able to pay premiums in accordance with the chosen premium structure, and any excess in the event of a claim in accordance with the chosen excess option."
It's important to read Beyond Bank's Product Disclosure Statement (PDS) to determine if this car insurance will meet your needs and circumstances.
How to save on your Beyond Bank car insurance policy
There are several things you can do to reduce the cost of your Beyond Bank car insurance premium, including:
Choose a higher excess. If you're willing to pay a higher excess you can enjoy a lower premium.
Buy online. You can access a discount of up to 10% if you buy comprehensive cover online.
Restrict drivers. You can lower your premiums by restricting cover to drivers 25 years of age and over.
Name drivers. You also have the option to restrict cover to drivers named in your policy.
Safe driver discount. If you don't make any claims on your policy, you may also be eligible for a safe driver discount in addition to the no-claim bonus.
FAQs
You can get two types of car insurance with Beyond Bank: comprehensive car insurance and third party property damage (TPPD). Comprehensive car insurance covers damage to your own car as well as others. TPPD covers your legal liability for loss or damage to someone else's property.
Beyond Bank car insurance policies have a cooling-off period of 14 days. This means you can cancel your policy within 14 days of purchasing cover and receive a full refund.
Beyond Bank car insurance policies are issued by Allianz Australia Insurance Limited.
According to the Australian Financial Complaints Authority, Allianz (which issues Beyond Bank car insurance policies) received 494 in the most recent financial period. This is better than other very large insurers such as AAI Limited and Insurance Australia Limited. They received 1,698 and 1,087 in the same period.
Gary Ross Hunter has over 6 years of expertise writing about insurance, including life, health, home, and car insurance. Having reviewed hundreds of product disclosure statements and published over 800 articles, he loves simplifying complex insurance topics for everyday readers. Gary has contributed to major outlets like Yahoo Finance, The Sydney Morning Herald, and news.com.au, and holds a Bachelor of Arts (Honours) in English Literature from the University of Glasgow, along with a Tier 2 General Advice certification, ensuring his work adheres to ASIC’s RG146 standards.
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