Whether you’re a motoring fanatic or someone who simply uses a car for practical purposes, motor vehicle insurance is essential to ensure that you can afford to keep your car on the road. If you’re involved in an accident or your car is stolen or catches fire, there are car insurance policies available to provide the financial protection you need.
GIO Insurance has been looking after the car, home, boat, caravan and travel insurance needs of Australians since 1927. If you’re looking for a competitive and affordable car insurance policy, GIO offers 4 policies that are issued by AAI Limited: Platinum, Comprehensive, Third Party Fire and Theft, and Third Party Property Damage.
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Find out more about GIO Car insurance
GIO Platinum car insurance
Platinum GIO car insurance is the highest level of cover and offers all the same cover as its Comprehensive car insurance policy plus extra features like lifetime new-car replacement and cover for windscreen and window damage.
Platinum car insurance covers you against loss or damage caused by all the same events as listed in the Comprehensive policy, but it offers an even higher level of protection. If your car is ever written off, you’ll receive a new replacement vehicle no matter how old your original car was. Other features include:
- Windscreen and window glass damage
- Unlimited days of car hire
- Your choice of repairer.
GIO Comprehensive car insurance
Offering a higher level of cover than the last 2 policies, Comprehensive car insurance covers accidental loss or damage, fire, theft, vandalism, hail, storm or flood damage. It also provides $20 million of liability cover when you damage someone else’s car.
Comprehensive car insurance from GIO covers your vehicle for:
- Accidental loss or damage
- Flood damage
- $20 million of liability cover
- 2-year new-for-old replacement
- Your choice of repairer
- Lifetime guarantee on authorised repairs
- No excess if you’re not at fault
GIO Third Party Property Damage, Fire and Theft car insurance
This policy offers the same cover provided under the Third Party Property damage policy, but this product also covers you against loss or damage to your car caused by fire or theft.
In addition to the cover offered under the Third Party Property damage policy, it also offers financial protection against:
- Loss or damage to your vehicle caused by fire or theft
- 14 days of cover for a temporary replacement car if your car is stolen
- $5,000 cover for damage caused to your car by an uninsured driver
Third Party Property Damage car insurance
This is the most basic level of cover offered by GIO and also the most affordable. When your car causes damage to someone else’s property, this policy provides up to $20 million of liability cover.
When your car causes damage to someone else’s property, you’ll receive up to:
- $20 million of liability cover under this policy
- $5,000 of cover is provided for your own vehicle if it’s damaged by an uninsured driver
- 14 days of cover for a temporary replacement car while yours is off the road
|Benefits||Platinum||Comprehensive||Fire, Theft and Third Party Property Damage||Third Party Property Damage|
|2-year new car replacement|
|24/7 Australia-wide claims service|
|Accidental loss and damage to your car|
|Choice of repairer|
|Cover for malicious acts or vandalism|
|Damage by uninsured drivers|
|Emergency travel, accommodation and repairs|
|Hire car after an event cover|
|Hire car after theft|
|Liability cover for damage to other people’s property|
|Lifetime new car replacement|
|Lifetime repair guarantee|
|Reasonable towing and storage costs|
|Third party property damage for caravans and trailers|
|Trailer cover (up to $1,000)|
|Windscreen and window glass replacement (without excess)|
|Platinum||Comprehensive||Fire, Theft and Third Party Property||Third Party Property|
|GIO claim-free savings|
|Increase your excess and save|
Like any other insurance policy, GIO's car insurance has a list of circumstances under which your claim will not be paid. These include:
- If you enter into an agreement or contract accepting liability
- If the driver was under the influence of alcohol or drugs, or if they refused to undergo drug or alcohol testing
- If it arises because of the legal confiscation or repossession of your car or its contents
- If it is for structural, mechanical or electrical breakdown
- If it is for general wear and tear, rust, corrosion or depreciation
- If your car was damaged, un-roadworthy or unsafe when the incident occurred
- If your claim is for consequential loss of any kind
- If your vehicle was being used to illegally transport pollutants or dangerous or hazardous goods
- If your car was being driven while overloaded
- If you failed to take all reasonable precautions to prevent loss, damage or liability
- If your car was being used for hire or monetary reward
- If you or someone acting on your behalf intentionally caused the loss or damage
- If your vehicle was involved in any sort of racing or motor sport
- If your vehicle was involved in reckless acts such as street racing, burnouts, etc
- If your car was being used for unlawful purposes
- If your car was being driven by an unlicensed driver
- If your claim arises from using the incorrect type of fuel
- If your claim is for tyre damage caused by braking, punctures or bursts
The following factors will impact the cost of your GIO car insurance premium:
- Is your policy agreed or market value? The amount the insurer agrees to cover your car for.
- What type of car do you drive? A high-powered Porsche valued at hundreds of thousands of dollars will obviously cost more to cover than a humble Toyota Corolla.
- How often do you drive? If you drive tens of thousands of kilometres each year in hectic city traffic, your car is more at risk of being involved in an accident than a country-based vehicle that is driven sparingly.
- Where do you park your car? Cars left on the street overnight are far more likely to experience loss or damage than those that are kept securely garaged. Certain regions of the country may also be more prone to crime and also thunderstorms, once again increasing the cost of premiums.
- Does your car have a security system? Does your car have a security system in place to deter thieves? If so, this could lower the cost of your premium.
- How is your driving history? Drivers who have made previous insurance claims or have a history of being involved in accidents will have to pay more than those with an unblemished driving record. Young, inexperienced drivers will also have to pay more for cover than their older counterparts.
The excess is the amount you will have to contribute towards the cost of your claim. A standard excess is payable in all claims (except those where the driver of your car was not at fault and you can prove who was at fault), but depending on your circumstances you may also have to pay one of the following excesses:
- What is a voluntary excess? You may opt to pay this excess in exchange for a cheaper premium.
- What does age excess mean? This applies if someone under 25 years of age was driving your car at the time of the incident.
- Is there an inexperienced driver excess? This excess applies if an inexperienced driver (someone who has not held a licence for at least the past 2 consecutive years) was in control of your vehicle at the time of the incident.
- Is there a driver history excess? If your car was being driven by someone who has had their licence cancelled, suspended, disqualified or restricted in the 3 years prior to cover starting, you’ll need to pay this excess.
- I have multiple policies with GIO, can I combine them to save? Package your car insurance with another policy from GIO to take advantage of a multi-policy discount.
- Will buying online help? Receive a 10% discount when you purchase your policy online.
- I've never made a claim, does that make a difference? Enjoy premium discounts for every year you don’t make a claim on your GIO policy.
- Is there a family discount? Drivers under the age of 25 whose parents have GIO Platinum or Comprehensive car insurance could be eligible for a 10% discount on their own policy.
- Can I increase my excess? You can select a higher excess in return for a cheaper premium.
- If your car is stolen, report the theft to the authorities immediately.
- If you’re involved in an accident, make sure everyone is safe and check whether the emergency services need to be called.
- Collect the details of all drivers and witnesses and then contact GIO as soon as possible to make your claim.
- Provide as many details as possible to your insurer, and GIO will arrange for your vehicle to be towed if necessary.
How to cancel GIO car insurance
To discuss cancelling your policy, call GIO on 131010. There may be a $30 cancellation fee, as well as non-refundable government charges. You might qualify for a refund of the unexpired portion of your premium though.
Finder compares policies side-by-side so you can get a policy that works for you. Find a new car insurer here.
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Are you ready to start comparing policies?
From the basic protection offered by third party property damage car insurance to the top-level cover of a Platinum policy, GIO offers several interesting alternatives for Australian drivers. Just make sure to compare multiple policies so that you find the right cover to let you hit the road with confidence.
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