There are plenty of car insurance policies on the market, but how do you know which will be best for your car? Vero simplifies matters by offering just two simple options: a bare bones third party property damage package with options for additional items such as fire and theft, or complete cover with a comprehensive policy. Whether you want total or specific cover, Vero may have the right policy for you. Read on for a full breakdown.
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What policy options does Vero offer?
Third party property damage (TPPD): If your main concern is protection against legal liability for loss or damage to other people’s property, or the death of, or bodily injury to, other people, then this policy may suit your needs. It includes $20,000,000 legal liability cover, as well as optional protection for fire and theft at an increased premium.
Comprehensive: In addition to legal liability, Vero’s comprehensive insurance includes many other benefits, such as cover for fire and theft, personal and specified items or accessories, and other tools and spare parts in your car. Towing and emergency repairs are also included, as are extra costs such as hiring a replacement car.
How do the cover types compare?
For an overview of what each policy offers, check out the table below:
| TPPD | Comprehensive | |
|---|---|---|
| Accidental damage or loss | ||
| Fire and theft | Optional | |
| Towing and storage | ||
| Emergency repairs | ||
| Choice of repairer | ||
| Rental car | ||
| Personal items | ||
| Emergency accommodation and transportation | ||
| Purchasing a replacement vehicle | ||
| Trailer and caravan cover | ||
| Baby seat or capsule | ||
| Accidental death benefit | ||
| Replacement keys and recoding locks | ||
| Legal liability ($20,000,000) |
What additional cover options are available?
Third party fire and theft. These are included with comprehensive insurance and are available with TPPD policies with an increased excess. It provides cover against damage or loss due to theft or attempted theft, fire, lightning or explosion.
No claim bonus (NCB). If you don’t make a claim on your comprehensive policy for a period of four continuous years, you are entitled to an NCB benefit. NCB applies to the first claim you lodge where you are at fault, or if the responsible party cannot be identified.
Loyalty bonus. If you maintain your policy with Vero, or have any other Vero insurance policy, such as home or business, then you may be eligible for a loyalty bonus of 5% off your premium.
Restricted driver cover. If a person other than yourself is driving your car and is 30 years old or over, restricted driver cover protects you against any loss, damage or liability that they may cause.
Windscreen excess waiver. Available with comprehensive policies, the windscreen excess waiver means you don’t have to pay the basic excess for the first windscreen or window glass replacement claim you make.
What exclusions are there?
As with all insurance policies, there are a number of exclusions you need to keep in mind when selecting your cover. Here are some that may apply to your claim:
- You lie or provide misleading information on your claim.
- You fail to secure your car or leave it in an unsafe location.
- You fail to report the incident to police as soon as possible in cases of theft, malicious damage or an accident.
- The person driving your car was under the influence of drugs or alcohol.
- Your car was being used in an illegal way or for criminal activities.
- Your car was being used for business, taxi or rideshare purposes.
- Your car was used to carry passengers or loads over the legal limit.
- You deliberately caused or authorised the damage or loss.
- You car was damaged or lost outside Australia.
What excess do I need to pay?
If you make a claim and are considered responsible or at fault for the accident you will be required to pay the applicable excess, the amount of which will vary depending on the damage and situation of the incident. Your certificate of insurance will show the amount and types of excess that apply to your policy. A claim is only accepted if the total amount you are claiming for is more than any excesses that apply to your claim.
How do I make a claim?
If you are involved in an accident, here are a few things to remember:
- Contact the police and any required medical services as soon as possible.
- Write down the full names, addresses and phone numbers of all drivers and passengers involved, as well as those of any witnesses.
- Write down the other vehicles registration numbers, insurance details and gather any other evidence or information to support your claim, such as police and medical reports.
- Lodge your claim online at https://www.vero.com.au/claims.html.
