Mortgage Choice Car Insurance – Comparison and review | finder.com.au
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Mortgage Choice car insurance

Discover if Mortgage Choice Car Insurance is the provider for you.

Alexandra Koster
Alexandra Koster
Updated

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Having the right car insurance cover in place means you can hit the road with confidence, no matter whether you’re driving around the block or around the country. Mortgage Choice may be best known for its services as a mortgage broker but it also offers a pair of reliable and comprehensive car insurance policies to offer financial protection against a wide range of motoring risks.

It offers three car insurance policies to Australian customers – Comprehensive cover, Third Party Fire & Theft, and Third Party Property Damage. Mortgage Choice Car Insurance policies are underwritten by Allianz Australia Insurance Limited.

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What car insurance options are offered by Mortgage Choice?

Both of the policies available from Mortgage Choice offer comprehensive motor vehicle protection. While many insurers will also offer a range of entry-level insurance options that only cover a limited selection of events and incidents, Mortgage Choice’s policies are designed for those who want to take out a high level of protection for their cars.

Both Prestige Motor and Classic Motor Insurance provide cover for the same array of risks, including:

  • New for old replacement of vehicles less than two years old
  • Up to $20 million of legal liability cover
  • Classic Motor offers $500 for trailer and caravan cover and $350 of cover for emergency repairs
  • Prestige Motor covers $1,000 for trailer and caravan cover a and $500 of cover for emergency repairs.

What levels of cover are available?

Comprehensive Insurance

Under this policy you will receive:

  • New replacement vehicle if your car is less than two years old and is a total loss
  • Up to $20 million of legal liability cover is included when you are responsible for causing damage to other people’s property
  • Towing costs after a covered accident
  • Temporary cover on a replacement vehicle
  • Legal liability cover when using a substitute vehicle
  • Trailer and caravan cover
  • Emergency repairs
  • Cover for your personal effects
  • Emergency accommodation
  • Lock re-keying and re-coding

Third Party Fire & Theft

This Mortgage Choice Car Insurance policy offers:

  • Cover for accidental loss or damage by your vehicle caused by fire and theft
  • Legal liability
  • Rental car after theft
  • Towing after fire or theft to your vehicle
  • Legal liability cover when using a substitute vehicle
  • Legal costs

Third Party Property Damage

Cover includes:

  • Cover for legal liability to pay compensation for loss or damage to other people's property
  • Legal costs
  • Legal liability cover when using a substitute vehicle
Key benefitsComprehensive insuranceThird Party Fire & TheftThird Party property damage
Accidental loss of or damage to your vehicle caused by fire or theft
Accidental loss of or damage to your vehicle
New for old replacement
Legal liability
Legal costs
Accidental death benefit
Emergency repairs
Rental car after theft
Reasonable cost of towing
Temporary cover on replacement vehicle
Trailer and caravan cover
Legal liability cover when using a substitute vehicle
Personal items
Emergency accommodation and travelling expenses
Transportation costs – up to $500 for any one incident
Lock re-keying / re-coding
Child seat / baby capsule cover
Optional
Protected No Claim Bonus
Rental car following accident
Removal of basic excess for windscreen claims

What are the general exclusions?

Your Mortgage Choice Car Insurance claim will not be paid if:

  • Your car was being driven by someone who was not licensed to drive it, including you
  • Your car was being driven by someone nominated in your Mortgage Choice Car Insurance policy schedule as a declined driver
  • You have selected the restricted driver option and your vehicle was being driven by someone under the age of 30, except in cases where your car has been stolen or is being driven by a repairer, mechanic or car park attendant
  • Your car was being driven by someone under the influence of alcohol or drugs, or by someone who refused to submit to drug or alcohol testing
  • Your car was being used to carry a greater number of passengers or a heavier load that that which it was designed to carry
  • Your vehicle was being driven in an unsafe or unroadworthy condition
  • You were using your vehicle to carry passengers for hire, fare or reward
  • Your car was being used in any motor sport or time trial
  • Your car was being used in connection with the motor trade for things like experiments, trials, tests or demonstrations
  • Your claim results from a deliberate, intentional, malicious or criminal act by you, someone else named in the Mortgage Choice Car Insurance policy schedule or someone else acting with your consent
  • It results from war, rebellion, revolution or insurrection
  • It results from an act of terrorism
  • It is caused by the existence of asbestos
  • It is for loss of use of your vehicle
  • It is for gradual deterioration or wear and tear
  • It is for mechanical or electrical breakdown or failure
  • It is for accidental loss or damage as a result of the lawful seizure of your vehicle
  • It is for accidental loss or damage to your vehicle at any time, unless you have taken reasonable steps to protect it
  • It is caused by the failure of a computer or any similar equipment.

How much does Mortgage Choice Car Insurance cost?

There are a number of factors that can affect the cost of your Mortgage Choice Car Insurance policy, including:

  • What type of car do you drive? Newer and more expensive vehicles are more expensive to insure than older, cheaper models. The year, make and model of your vehicle can all influence the cost of premiums.
  • How much is your car insured for? The higher your sum insured the more you will have to pay.
  • What Mortgage Choice Car Insurance policy did you choose? Prestige Motor offers a higher level of cover and is also more expensive than Classic Motor.
  • Where your car is kept overnight? This can affect the likelihood of it being stolen or suffering malicious damage.
  • How long have you had your Mortgage Choice Car Insurance policy? Whether you are entitled to a no-claim bonus on your policy.
  • How old are you? Young drivers feature more prominently in crash statistics and are more expensive to insure.
  • How is your claims history? Your claims history and driving record, and the claims history and driving record of any other insured drivers.
  • How much excess? The excess amount you select.
  • When do you pay your premiums? How often you decide to make your premium payments.

How does the excess work?

Unless stated otherwise in your Mortgage Choice Car Insurance policy, you’ll need to pay an excess when you make a claim on your car insurance. The following excesses may apply to your Mortgage Choice Car Insurance policy:

  • Basic excess. This is the excess you must pay on each claim and its amount will be shown on your Mortgage Choice Car Insurance policy schedule. This is comprised of the minimum basic excess, the voluntary excess (you may elect to pay an extra excess in return for lower premiums) and the imposed excess (this may be applied due to underwriting criteria).
  • Age excess. If you make a claim for an incident where your vehicle was being driven by someone under the age of 25, you’ll need to pay an age excess.
  • Undeclared young driver excess. If you lodge a claim for an accident where your vehicle was being driven by someone under 25 years of age who was not listed on your Mortgage Choice Car Insurance policy schedule, you’ll need to pay this excess in addition to the basic excess and the age excess.
  • Inexperienced driver excess. This applies to claims where your vehicle was being driven by someone over the age of 25 who has not held an Australian driver’s licence for at least two years. It will need to be paid in addition to your basic excess.
  • Theft excess. You’ll need to pay this excess when you make a claim for loss or damage caused by the theft or attempted theft of your vehicle.
  • Driver excess. This may apply to certain drivers listed on your Mortgage Choice Car Insurance policy.
  • Unnamed driver excess. You’ll need to pay this excess when you have a Mortgage Choice Car Insurance named driver policy and your vehicle is being driven by someone who is not named on your policy as a nominated driver.

How can I save on my car insurance?

  • No claim bonus. You’ll receive a discount on the cost of your Mortgage Choice Car Insurance premiums for every year you do not make a claim on your policy. This discount can be as high as 60 per cent.
  • Choose a higher voluntary excess. This will lead to lower premium costs.
  • Choose a lower level of cover. A Third Party Property policy is cheaper to take out than a Comprehensive policy.
  • Restricted driver discount. Enjoy cheaper premiums if you choose to exclude cover for drivers who are under the age of 30.
  • Safe driver discount. This discount is offered in addition to the no claim discount for eligible drivers.

How do I make a claim?

If you’re involved in an incident that may lead to a claim, in order to ensure that your Mortgage Choice Car Insurance claim will be paid you must:

  1. Not admit liability or agree to settle any claim
  2. Take any reasonable steps to prevent further loss, damage or liability
  3. Contact the police if required
  4. Contact the insurer as soon as possible

You’ll need to provide Allianz Australia (the issuer of the insurance) with full details of the accident either verbally, or in writing by completing a claim form. You’ll also need to immediately forward any correspondence you receive regarding the accident on to Allianz.

In most cases you will have to pay an excess, although this will not be required if you can prove that the accident was the fault of someone other than the driver of your car. You’ll need to be able to provide their name and contact details and the claimable loss must be recoverable by Allianz.

Compare Mortgage Choice Car Insurance

If you’re looking for comprehensive car insurance, consider Prestige Motor Insurance and Classic Motor Insurance from Mortgage Choice Car Insurance. Of course, remember to weigh up the benefits and features of these policies in relation to a range of other car insurance policies on the market.

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