Commonwealth Bank Car Insurance

If you’re looking for car insurance to cover your set of wheels, the Commonwealth Bank might be able to help. Through its insurance arm CommInsure, the Commonwealth Bank offers three levels of car insurance cover: Comprehensive, Third Party Property Damage, Fire and Theft and Third Party Property Damage.

Each policy offers a unique range of benefits and features to Australian drivers, so let’s take a closer look at the options available.

Policies available from Comminsure

CommInsure Car Insurance offers three levels of cover to suit the needs of a variety of drivers:

• Comprehensive. This policy is designed for those drivers who want maximum peace of mind when they hit the road. It offers cover for loss or damage caused by collision, fire, storm, theft and vandalism, including new vehicle replacement after a total loss. It also covers theft of keys, towing and storage costs, emergency repairs and trailers and caravans, and $20 million of legal liability cover is also included.
• Third Party Property Damage, Fire and Theft. This CommInsure policy provides $20 million of legal liability cover when your vehicle damages another person’s property. It also provides cover for loss or damage caused by fire, theft and attempted theft (including towing and storage costs), as well as $5,000 worth of cover for damage caused by an uninsured motorist.
• Third Party Property Damage. Third Party Property Damage car insurance from CommInsure offers the most affordable level of cover. It provides legal liability protection when your vehicle causes damage to someone else’s property, as well $5,000 worth of cover when your car is damaged in a collision with an uninsured motorist.

What does each policy cover?

• Comprehensive
• Third Party Property Damage, Fire and Theft
• Third Party Property Damage

General exclusions applied

• Your policy will not cover the following events

  Before taking out cover, read the PDS to make sure you’re aware of when cover will and will not apply. Your CommInsure car insurance claim will not be paid if:

  • The driver of your vehicle was under the influence of alcohol or drugs
  • The driver of your vehicle was not holding a proper licence
  • Your vehicle was being driven by a declined driver
  • The driver of your vehicle was under 30 years of age (if you have selected the “restricted driver” option)
  • It is caused by any illegal or unlawful act committed by you or the driver of your vehicle
  • It arises from a deliberate, intentional, malicious or criminal act by you, a declared driver or someone acting with your consent
  • It is for loss, damage or liability that occurs outside of Australia
  • It is caused by structural, mechanical, electrical or electronic failure
  • It arises from deterioration, wear and tear, rust or corrosion
  • It arises because your vehicle was being driven while damaged, unsafe or unroadworthy
  • It is for tyre damage caused by road cuts, punctures, bursts or the application of brakes
  • Your vehicle was being used to carry passengers for hire, fare or reward
  • Your vehicle was being used to carry more passengers or tow a greater load than it was designed to
  • You failed to take reasonable steps to secure your vehicle after it had broken down, been damaged in an incident or been found after it was stolen
  • It arises due to the lawful seizure of your vehicle
  • Your vehicle was participating in any motorsport or time trial
  • It arises due to faulty repairs, unless those repairs were authorised by the insurer and carried out in relation to a claim
  • It is for the depreciation of your vehicle

What excess will be charged?

In most cases when you make a claim, you will need to contribute an amount towards the cost of that claim. This is known as the excess. The excesses that may apply to your CommInsure policy are:

• Basic excess. This basic excess amount applies to all claims. You can also select a voluntary additional basic excess to lower your premium amount.
• Optional additional basic excess. To lower your premiums, you can choose to pay an additional basic excess.
• Age excess. This excess is payable in addition to the basic excess when your vehicle was being driven by someone under 25 years of age.
• Undeclared young driver excess. This excess applies when your vehicle was being driven by someone under 25 years of age who is not listed on the certificate of insurance.
• Inexperienced driver excess. This excess applies when your vehicle was being driven by someone 25 years of age or older who has not held an Australian driver’s licence for at least two consecutive years.
• Imposed excess. There are two types of imposed excesses: an imposed driver excess and imposed vehicle excess. The former applies to a specific declared driver, generally because of their driving history. The latter applies because of the type of vehicle you are insuring, e.g you may own a high-performance vehicle. These imposed excesses may be applicable to you when you insure your vehicle.

Steps to save on your comminsure policy

There are several simple things you can do to lower the cost of your car insurance premium, including:

• Choose a higher excess. By choosing to pay a higher voluntary excess, your premium amount will be reduced.
• Choose a lower level of cover. Third Party Property Damage is much more affordable than a Comprehensive policy.
• Apply online. If you purchase your CommInsure Car Insurance policy online, you can take advantage of a 10% premium discount.
• Restricting drivers. If you select the “restricted driver” option on your policy, this will lead to cheaper premiums.
• Drive less. The less you drive your car, the cheaper it is to insure.
• Don’t add options. If you add extra cover options such as a protected no-claim discount to your policy, this will increase the cost of cover.

How do I claim with Commonwealth bank?

If you need to make a claim, it’s essential that you phone CommInsure as soon as possible with the details of your claim. You have the option to lodge your claim online or over the phone.

The CommInsure Emergency Claims Assistance Line can be contacted 24 hours a day, 7 days a week and can advise you of the information you need to provide to ensure the smooth processing of your claim.

Depending on the type of incident and the nature of your claim, you may also need to take further steps, including:

• Contacting the police, for example, following theft or vandalism
• Gathering the details of anyone else involved in an accident, including witnesses
• Taking all reasonable steps to prevent any further loss, damage or liability
• Not admitting any fault or liability

Some final questions you might have?

• Is there a cooling-off period?

  Yes, you have 21 days after purchasing CommInsure Car Insurance to decide whether the policy is right for you. If it isn’t, you can cancel your cover during this period and receive a full refund.

• How do I pay my CommInsure Car Insurance premiums?

  You can pay your premiums in the following ways:

  Method	Monthly	Annually
  Direct Debit from a bank account	Yes	Yes
  Direct debit from a credit card	Yes	Yes
  Cash or cheque at a Commonwealth Bank Branch	No	Yes
  Cheque by mail	No	Yes
  Bpay	No	Yes
  Telephone	No	Yes
  Internet banking	No	Yes

• What is the maximum no-claims discount available?

  The maximum no-claims discount available on your CommInsure Car Insurance policy is 70%.

• Are my personal effects covered?

  Yes, CommInsure Comprehensive Car Insurance includes $500 cover for clothing and personal effects.

• Is there a lifetime guarantee on repairs?

  Yes, repairs done through CommInsure’s nationwide network of repairers are guaranteed for as long as you own the car.