If you’re aged 50 years old or older and looking for vehicle insurance designed to suit you, Over Fifty car insurance is well worth a look.
Specialising in cover for Australians aged over 50, Over Fifty Insurance is owned by National Seniors Australia Limited and offers three levels of vehicle cover. Issued by Allianz, these policies provide a wide range of benefits, flexible premium payment options and the peace of mind of a 24/7 claims service.
What policies are offered?
- Comprehensive. Over Fifty comprehensive car insurance provides cover for accidental loss or damage to your vehicle as well as loss or damage caused by fire, storm, flood, theft and more. This includes cover for towing costs after an accident and new car replacement on vehicles less than two years old that are a total loss. You can also enjoy up to $20 million of legal liability cover if your car causes accidental damage to someone else’s property or causes supplementary bodily injury to someone.
- Third-party fire and theft. This policy provides cover for loss or damage to your vehicle caused by fire, theft or attempted theft. This includes cover for towing costs as well as a rental car after theft. You also get up to $20 million of legal liability cover when your car causes accidental damage to someone else’s property or causes supplementary bodily injury to someone.
- Third party property damage. Over Fifty third-party property damage insurance provides up to $20 million of legal liability cover when your car causes accidental damage to someone else’s property or causes supplementary bodily injury to someone. It also covers you against loss or damage resulting from a no-fault accident with an uninsured driver.
What levels of cover are available?
|Comprehensive||Third party fire and theft||Third party property damage|
What isn't covered?
There are certain situations and events which your Over Fifty car insurance policy will not cover. Your claim will not be paid in the following situations:
- Your car was being driven by an unlicensed driver.
- Your car was being driven by someone under the influence of alcohol or drugs.
- Your car was being driven by someone shown in your policy as a declined driver.
- Your car was carrying more people or a larger load than it was designed to carry.
- Your car was being driven in an unsafe or unroadworthy condition.
- Your car was being used to carry passengers for hire, fare or reward.
- Your car was being used for a motorsport for any kind.
- Your car was being used for any demonstration, experiment, test or trial in connection with the motor trade.
- It results from a deliberate, intentional, malicious or criminal act by you, anyone else named in the policy, or someone acting with your consent.
- It is for loss or damage caused by war or terrorism.
- It is for loss of use of your vehicle.
- It is for tyre damage caused by braking or punctures.
- It arises due to the lawful seizure of your vehicle.
- It is for loss or damage after an accident, theft or breakdown when you failed to take reasonable steps to protect your vehicle.
- Your car is stolen after you leave it unlocked with the keys inside.
- Your car is stolen after you do not go with it when it is shown for sale.
- It is for loss or damage resulting from a cyclone, flood or bushfire in the first 72 hours of cover.
What's the excess?
When you make a claim, the insurer will advise whether you need to pay an excess. The following excesses may apply to your policy:
- Basic excess. The basic excess is the amount payable on each claim. The insurer may impose an additional excess amount due to risk-based underwriting criteria, while the amount may also vary if you choose a higher excess in return for a lower premium.
- Age excess. The age excess is payable when you make a claim for an accident that occurred when your vehicle was being driven by someone under 25 years of age.
- Undeclared young driver excess. If, at the time of an accident, your vehicle was driven by an under-25 driver not listed in your policy, you will need to pay this excess.
- Inexperienced driver excess. This excess is payable in addition to the basic excess when your vehicle was being driven at the time of an accident by someone 25 years or older who has not held their current licence for more than two consecutive years.
- Theft excess. You will need to pay this excess when you lodge a claim for theft or attempted theft.
- Driver excess. The insurer may impose an additional excess on a named driver listed on your policy.
- Unnamed driver excess. If you have selected the named driver option, this $2,500 excess is payable when your vehicle was being driven at the time of an accident by someone not listed in your policy as a named driver.
- Restricted driver excess. This $2,500 excess must be paid if you have chosen the restricted driver option and your vehicle was being driven by someone under 25 years of age at the time of an accident.
How to save on your Over Fifty car insurance policy
Keep the following tips in mind to help you cut the cost of cover:
- Exclude young drivers. You can receive a premium discount if you exclude cover to drivers under 25 years of age.
- Only cover named drivers. You can reduce your premium by choosing to cover named drivers only.
- Buy online. You can save up to 10% off the cost of a comprehensive policy when you buy online.
- No-claims discount. A maximum no-claims bonus discount of up to 65% is available for drivers who do not make a claim.
- Choose a higher excess. You can increase your basic excess amount and receive cheaper premiums in return.
How can I make a claim?
There are two ways you can make a claim on your Over Fifty car insurance policy:
- Online. You can lodge a claim at any time using Allianz’s quick and easy online claims service.
- Over the phone. You can phone the insurer 24/7 to be guided through the claims process.
If you lodge your claim online, Allianz will contact you within 48 hours to advise you on the next steps. You may also be asked to provide documentation and other information to support your claim, such as proof of ownership of your vehicle, a police incident report number, or the details of all other drivers and witnesses involved in an accident.
Some final questions you might have
What company issues Over Fifty car insurance?
The insurance is issued by Allianz Australia Insurance Limited.
How long is the cooling-off period?
A 14-day cooling-off period applies to Over Fifty car insurance. This means you can cancel your policy within 14 days of taking out cover and receive a refund of any premium paid.
When do I pay my premiums?
You have the option to either pay an annual premium or pay for cover in monthly instalments.
Does it cost extra to pay by the month?
No, there is no additional charge when you pay your premium in monthly instalments.
Can I choose my own repairer with Over Fifty car insurance?
Yes, you are allowed to choose your own repairer at no extra cost, or Allianz can direct you to a suitable provider from its network of preferred repairers.
Over Fifty car insurance is worth a closer look if you’re 50 years of age or older and need cover for your vehicle. However, you should always compare a range of policies before choosing the right car insurance cover for you.