Apart from Compulsory Third Party (CTP) Insurance, there are three main types of car insurance in Australia: Third Party Property, Third Party Property Fire & Theft and Comprehensive.
Most insurers provide these three cover options. However, one company provides these services and something extra – the chance to offset your car’s annual carbon emissions.
ibuyeco is a company that was formed out of concern for the damaging effects of vehicle C02 emissions on the environment. Part of the Budget Insurance group and underwritten by Auto & General Insurance, ibuyeco has teamed up with Greening Australia to offer 100% Carbon Neutral Car Insurance.
Now you can have great value third party or comprehensive cover and be doing your bit for the planet as well, with 100% carbon offsetting that meets Australian Government standards and is guaranteed for 100 years.
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When you choose ibuyeco, you’re not only helping to fight climate change, you’re also getting great value insurance at a highly competitive price. ibuyeco offers all three types of cover:
- Third Party Property. Covers damage your vehicle causes to other peoples’ property, plus a limited amount of cover if your vehicle is damaged in a no-fault accident with an uninsured vehicle.
- Third Party Property Fire & Theft. Covers damage to other peoples’ property, damage to your vehicle from fire and theft, plus a limited amount of cover in a no-fault accident with an uninsured vehicle.
- Comprehensive. Covers damage to your vehicle due to accident, fire or theft plus damage to other people’s property and includes new car replacement for the first year.
And all three types of cover include a carbon offset service to offset 100% of your vehicle’s annual CO2 emissions.
ibuyeco Car Insurance levels of cover
ibuyeco insurance policies offer a range of flexible options, which allow you to adjust your cover to suit your individual needs and maximise your savings. These include:
- Choice of agreed or market value (comprehensive)
- No Claim Discount, for each year you don't make a claim you can receive a discount on your insurance premiums up to a maximum amount (comprehensive)
- Window glass excess reduction option (comprehensive)
- Restricted driver option, which can earn you a discount
- Variable excess option, which can reduce your premium (comprehensive)
- Personal effects cover (comprehensive)
- Roadside assistance available (can be purchased in addition to cover)
- Waived excess if you are not at fault in an accident (comprehensive)
- Emergency transport and accommodation (comprehensive)
- Hire vehicle following theft (comprehensive and third party fire & theft)
- Hire vehicle following accident (comprehensive)
- Trailer cover (comprehensive).
As well as flexible options, all ibuyeco Car Insurance policies offer a great range of standard benefits including:
- Included features
- Competitive premiums
- No paper forms to fill in for application and claims
- 21-day money back guarantee
- Annual or by instalments
- Option to nominate your preferred repairer.
|Benefits||Comprehensive||Third Party||Third Party Fire & Theft|
|$1,000 cover (max 14 days) for vehicle hire if your car is stolen||yes||n/a||yes|
|$100 per day up to $300 for overnight accommodation and transport||yes||n/a||n/a|
|$3,000 uninsured motorists damage (if you are not at fault)||n/a||yes||yes|
|$500 collision cover for your trailer||yes||n/a||n/a|
|100% carbon neutral car insurance*||yes||yes||yes|
|Option to nominate your preferred repairer||yes||yes||yes|
|Lifetime Guaranteed repair quality as long as you're the owner of the vehicle||yes||yes||yes|
|Instalment or lump sum payment for premiums||yes||yes||yes|
|New car replacement plus first 12 months of registration||yes||n/a||n/a|
|No Claim Discount (preservation of discount in not at fault collisions)||yes||n/a||n/a|
|No excess in no fault accident||yes||no||no|
|Personal effects cover in the event of a collision||$250||n/a||n/a|
|Accident hire vehicle||yes||n/a||n/a|
|Choice of agreed or market value||yes||n/a||n/a|
|No Claim Discount protection||yes||n/a||n/a|
|Restricted driver discount||yes||yes||yes|
|Windscreen excess reduction||yes||n/a||n/a|
Circumstances where cover will not be provided under ibuyeco Car Insurance include incidents involving:
- An unlisted, excluded or unlicensed driver
- Driving while affected by alcohol or drugs
- Transporting passengers or goods for commercial purposes
- Racing, testing or rallying in the vehicle
- Using the vehicle for illegal purposes
- Overloading the vehicle
- Driving the vehicle in an unsafe or unroadworthy condition
- Transporting dangerous goods
- Having the vehicle stolen during an unaccompanied test drive
- Failing to remain at the scene of an accident
- Repairs which reduce the vehicle’s value
- Tyre damage caused by cuts, punctures or blowouts
- General wear and tear of the vehicle
- Mechanical, electrical or structural failure or breakdown
- Deliberate damage to the vehicle
- Nuclear-related incidents
- Damage resulting from war, insurrection or military coups
- Lawful confiscation or repossession of the vehicle
- Unapproved vehicle modifications.
ibuyeco Car Insurance is available at highly competitive prices and the actual cost of your premium will be determined by a range of different factors including:
- How old are you? Young inexperienced drivers generally pay more than mature drivers with clean driving records.
- What kind of car do you drive? Sports cars and performance vehicles attract higher premiums due to the higher risk of an accident and the higher cost of repairs.
- Where do you park the car? A car parked on the street will cost more to insure than one kept in a locked garage.
- How often do you drive? If you only use it infrequently, you may attract a discount on your premium.
- How is your driving history? If you have a clean driving record with few or no claims, you will usually pay less for your insurance.
Other factors affecting cost will include government taxes such as GST and stamp duty, which will vary with the value type and type of vehicle being insured.Back to top
The excess is the amount you must pay when making a claim. In the case of ibuyeco Third Party Property and Third Party Fire & Theft insurance, the basic excess you must pay will be a pre-determined amount specified in your policy.
In the case of ibuyeco Comprehensive insurance, you have the option of deciding the amount of your excess at the time of taking out the policy. Many people choose to pay a higher excess to reduce the cost of their premium, but you should only ever choose an amount that you can afford to pay both upfront and if you have to make a claim.
Regardless of the type of cover, you may have to pay additional excesses, which will be listed in your policy. These can include things like a windscreen replacement excess or an age excess, if the driver is under 21 and between 21-24. As mentioned earlier, if you have a Comprehensive policy, ibuyeco will waive your excess if the other driver is identified and at fault.Back to top
Making a claim with ibuyeco is fast and painless. It’s also paperless and in most cases, you can claim over the phone without having to fill out reams of paper insurance forms.
To make a claim, simply call 1300 558 225 to talk to a friendly claims team representative. Having the relevant information on hand will also speed up the process, such as your policy number and details of the accident, including details of other drivers and vehicles involved.Back to top
Q. What is carbon offsetting?
- A. It is the process of working out the total CO2 emissions a certain activity generates and then investing in another activity that absorbs and locks away an equivalent amount of CO2 from the atmosphere.
Q. How do I know the carbon offsetting will be done properly?
- A. Because ibuyeco uses Greening Australia to manage it. They have more than a quarter of a century of experience in creating sustainable environmental outcomes and their service meets the standards required by the Government and is guaranteed for 100 years.
Q. What has ibuyeco Australia done about its own CO2 emissions?
- A. ibuyeco is Carbon Neutral. They have been independently audited, their projected annual carbon emissions have been determined and they will be 100% offset into the future by Greening Australia.
Q. Who is the underwriter for ibuyeco Car Insurance?
- A. ibuyeco Car Insurance policies are underwritten by Auto & General Insurance Company Limited, part of the Budget Insurance group, which is an international leader in personal lines insurance.
Q. How can I save money on my policy?
- A. You can save money on your policy by:
- increasing your excess
- restricting drivers by their age.
Q. How long does it take to get cover?
- A. Most people can get cover in one phone call or one session online. Make sure you have all of your information ready to go including your car details and driving history.
Q. How can I adjust my premiums?
- A. Ways you can adjust your premiums include:
- Reduce your windscreen excess.
- Protect your No Claim Discount.
Q. What is the difference between agreed and market value?
- A. Market value is the reasonable replacement value of your vehicle. Agreed value an amount agreed to at the outset of your car insurance policy.
Q. What is a No Claims Discount?
- A. A No Claims Discount is calculated on your years of driving experience and your claims record. The longer you go without a claim, the larger your discount becomes.