Retirease

Are you no longer working? Compare Retirease Car Insurance, cover that is specifically designed for retirees.

Retirease Car Insurance offers affordable vehicle insurance protection for retired Australians. If you’re over 55, no longer employed and looking for car insurance, Retirease has a range of policies to suit the different needs of older drivers.

All policies are underwritten by Auto & General Insurance Company Limited and there are discounts available for restricting the age of insured drivers and restricting the number of kilometres driven each year.

finder.com.au does not currently have access to this car insurance brand. You may wish to compare options available on the car insurance homepage.

Retirease Car Insurance cover options

Retirease offers a choice of three car insurance policies:

  • Comprehensive. Retirease Comprehensive Car Insurance provides $20 million worth of legal liability cover when your car causes damage to other people’s property, plus it includes cover (up to the value you insure your car for) for loss or damage caused by hail, malicious acts, attempted theft, collisions and more. Financial protection is also available if your car is stolen or catches fire, with 14 days of car hire provided following the theft of your vehicle.
  • Third Party Property. This Retirease policy provides $20 million worth of legal liability cover when your car causes damage to someone else’s property. You can also enjoy cover of up to $3,000 or the market value of your car when it suffers damage as a result of a no-fault accident with an uninsured vehicle.
  • Third Party Fire and Theft. Third Party Fire and Theft Car Insurance from Retirease offers all the same cover as a Third Party Property insurance policy as well as cover for loss of or damage to the car if it is stolen or catches fire (note that this does not include cover for damage caused by attempted theft or for items stolen from the car).

What is covered by the different levels of insurance from Retirease?

Comprehensive

Retirease Comprehensive Car Insurance provides:

  • $20 million of legal liability cover when your car causes damage to other people’s property. This includes cover for your legal costs.
  • Cover for loss or damage caused by storm, flood, hail, malicious acts, attempted theft and collisions.
  • New car replacement if your car is a total loss within the first year or 20,000km.
  • Cover for loss or damage if your car is stolen or catches fire, with 14 days car hire provided following the theft of your vehicle.
  • Cover for personal effects damaged in a collision.
  • Cover for replacement keys and damaged trailers.
  • Emergency transport and accommodation after a claim.

Third Party Property

This policy provides:

  • $20 million of legal liability cover when your car causes damage to someone else’s property. This includes cover for your legal costs.
  • Cover of up to $3,000 (or the market value of your car) when it suffers damage as a result of a no-fault accident with an uninsured vehicle.

Third Party Fire and Theft

Third Party Fire and Theft Car Insurance from Retirease offers:

  • $20 million of legal liability cover when your car causes damage to someone else’s property. This includes cover for your legal costs.
  • Cover of up to $3,000 (or the market value of your car) when it suffers damage as a result of a no-fault accident with an uninsured vehicle.
  • Cover for loss or damage when your car is stolen or catches fire.
  • 14 days car hire following the theft of your vehicle.

What isn't covered by Retirease?

Your Retirease Car Insurance claim will not be paid in any of the following circumstances:

  • If the claim arises because your vehicle was driven by any member of your household not listed on the certificate of insurance.
  • If the claim arises because your car was being driven by someone excluded from cover.
  • If the claim arises because your car was being driven by anyone excluded from cover by their age (except in relation to it being serviced, repaired or valet parked).
  • If your claim was caused by your vehicle being driven by someone without your consent (unless you take all necessary steps to help the authorities prosecute the person responsible, including reporting theft to the police).
  • If your car was being driven by someone who did not hold a valid licence, or who was under the influence of alcohol or drugs.
  • If your vehicle was being used to transport passengers or other people’s goods for payment.
  • If your vehicle was being used in connection with the motor trade (unless being serviced or repaired).
  • If the vehicle was being used in races, trials, tests or for any unlawful purpose.
  • If the car was being driven in an unsafe or unroadworthy condition.
  • If you don’t go with the car when it is shown to a potential buyer and it is stolen.

You will also not be covered for:

  • Any improvements to the car
  • Any reduction in the car’s value following its repair
  • Tyre damage caused by punctures, cuts or bursts
  • Wear and tear, abuse, rust or depreciation
  • Mechanical, structural or electrical breakdown or failure
  • Incidents occurring outside of Australia
  • Loss, damage or liability deliberately caused by you or anyone acting with your consent

Are there any excesses?

The excess is the amount you will be required to contribute to your Retirease Car Insurance claim. The total amount payable is the sum of the basic excess and any additional excesses that apply. For example, an additional excess may be payable if the car was being driven by someone under the age of 25. The basic excess amount and any additional excesses that apply to your policy will be shown in the certificate of insurance.

However, if you are involved in a no-fault accident with another vehicle and your claim costs more than the basic excess, you will not have to pay any excess.

How to save on your Retirease Car Insurance policy

Want to save money on your car insurance premiums? These tips can help.

  • Choose a higher excess. You have the option to select a higher excess in return for lower premiums.
  • Restrict driver ages. By restricting the policy to older drivers only, you can save money on your insurance premiums.
  • Restrict kilometres travelled. If you drive a limited number of kilometres per year, you are at a lower risk of making a claim and therefore will receive cheaper premiums.
  • Choose a lower level of cover. The higher the level of cover you have, the more you will have to pay for your premiums.
  • Secure your vehicle. Moving your car into a secure garage overnight instead of leaving it parked out in the open can lower your premiums.

Making a claim

If you need to make a claim on your Retirease policy, notify the insurer as soon as possible. You will then be talked through the claims process, informed of any details you need to provide and advised on how to find a repairer.

There are also several steps you can take to help ensure the fast processing of your claim, including:

  • Never admitting fault or liability
  • Collecting the name, address, licence and insurance details of anyone else involved in an accident
  • Gathering details from the witnesses of an accident
  • Reporting theft to the police

FAQ

Q. Who is the underwriter of Retirease Car Insurance?

  • A. Retirease Car Insurance policies are underwritten by Auto & General Insurance Company Limited.

Q. When can I pay my premiums?

  • A. You have the option to pay your premiums annually or monthly.

Q. Are repairs guaranteed?

  • A. Yes, all repairs carried out by an authorised repairer are guaranteed for life.

Q. Is there a cooling-off period?

  • A. Yes, a 21-day cooling-off period begins after you take out cover. You have the freedom to cancel your policy during this time and receive a full refund.

Q. Can I choose to insure my car for agreed or market value?

  • A. Yes, both options are available.

Q. Is new car replacement offered?

  • A. Yes, Retirease Comprehensive Car Insurance provides replacement cover for your new car if it becomes a total loss in the first year or within 20,000 kilometres, whichever occurs first.
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