Coles Mastercard complimentary insurance

If you get approved for a Coles Platinum Mastercard credit card, you'll get complimentary purchase protection insurance and extended warranty cover for eligible purchases you make anywhere.

These policies are underwritten by Allianz Global Assistance (Allianz). Just like any insurance, there are different conditions you need to meet to get cover and make a claim. That's why it's best to read the policy documents. But if you just want an overview, here we have pulled out the key details about this cover.

How do I get Coles Platinum Mastercard complimentary insurance cover?

You can't directly apply for a platinum Coles credit card, but may be approved for one when you apply for a Coles Mastercard. The type of account you are offered is subject to the lender's eligibility criteria, so there are no specific details for platinum accounts.

This is different to most platinum credit cards in Australia, and means you won't know if you're getting a platinum Coles Mastercard unless you're approved. But if you are approved, you'll get access to complimentary insurance.

Coles Platinum Mastercard purchase protection insurance

This complimentary insurance gives you cover for new items that are lost, stolen or accidentally damaged. It covers personal items such as new laptops, jewellery and shoes.

When can I use it?

If you use your eligible Coles credit card to pay for covered items, this insurance will apply for the first 90 days from when you get them. This cover is available for most personal items bought anywhere in the world, including gifts for people who are permanent residents of Australia.

Keep in mind: If you decide to make a claim, you need to file a report with the police or relevant authorities within 24 hours, and include evidence of this report in your claim.

What can I claim?

If an item is accidentally damaged, lost or stolen, you can get cover up to the purchase price that was charged to your eligible Coles credit card. Keep in mind that there are the following limits for claims:

• Most covered items:The value of the purchase price as shown on your Coles Platinum Mastercard account
• Jewellery, watches and new works of art: Up to $5,000 per claim
• Total claim limit in a 12-month period: Up to $200,000

Also note that if the item is part of a set and only one is lost, damaged or stolen, any successful claim will only cover the cost of the single item. For example, if you bought a pair of earrings and lost one, you could use this insurance to cover the cost of the lost earring but not 2 new earrings.

What's not covered?

This insurance covers most personal items you buy with an eligible Coles credit card. But there are items that won't be covered, as well as situations where you won't be covered.

We have outlined some of the key things you won't be covered for, but remember to check the insurance policy booklet for full details.

• Business items and items you plan to sell
• Cash
• Optical and medical items (for example, contact lenses)
• Perishables
• Second-hand items
• Vehicles
• Items left in a hotel after checking out
• Items left in an unlocked motor vehicle
• Damage caused by pets, general wear and tear or mechanical breakdowns

Extended warranty

This cover doubles the manufacturer's warranty on items that you buy in Australia, up to a maximum period of 12 months.

For example, if you bought a TV with a 12-month manufacturer's warranty and it stopped working for no reason after 13 months, you could make a claim under this cover.

What can I claim?

You can use this cover to claim for repair or replacement costs for items bought with your eligible Coles credit card under the following circumstances:

• The item was for personal use (not business use).
• The item was bought in Australia and had a manufacturer's warranty of between 7 days and 5 years.
• If something has happened after the original warranty period has ended.

The amount you can claim will depend on the purchase price, up to a maximum of $10,000 per item. There is also a maximum claim limit of $40,000 in any 12-month period.

What's not covered?

If you meet the requirements above, there are 2 key situations when you won't get cover:

1. If the loss or damage is a result of flooding
2. If there is no manufacturer's unique identification serial number

How to make a claim

Contact Allianz as soon as anything happens by calling 1800 072 791 between 8:30am and 5pm (Sydney time), Monday to Friday.

According to the insurance policy document (effective November 2023), you can also email cardclaims@allianz-assistance.com.au or access claim forms through the Allianz claims website.

What to include in your claim

With any insurance claim, the more details you can include, the better. This makes it easier for the insurer to consider the claim and your eligibility for a payout.

Depending on what you're claim is for, the evidence and supporting documents you submit could include:

• A tax invoice showing proof of purchase, including proof you used your eligible Coles credit card
• A police report
• A report from any other official body involved (for example, an airline or tour operator)
• A quote for repairs or replacement
• A referral or letter from a doctor or other professional you see in relation to a claim
• Official medical reports
• Any other official documentation relating to the claim

Frequently asked questions

• What is Coles Account Cover Plus?

  Coles Account Cover Plus was an optional insurance package offered to eligible cardholders who applied before 25 February 2018. It is no longer available for new customers.

  This credit card insurance package has a premium that was calculated as 1% of your credit card statement's monthly closing balance. It offered the following types of coverage for your account:

  • Repayment cover. Covered the cost of your monthly credit card payments if you lose your job unexpectedly or can't work due to illness or injury.
  • Life cover. Paid out your card balance (up to $20,000) in the event of your death, diagnosis of critical illness, or total and permanent disablement.
  • Stolen card insurance. Provided you with a $200 benefit if your Coles Mastercard is stolen.
  • Price protection. Covered the price difference to your account if an eligible item purchased with your Coles Mastercard reduces in price at the same store within 24 months of purchase. This is much longer coverage than most cards offering complimentary price protection insurance.
  • Merchandise protection. Covered the cost of repair or replacement if an eligible item purchased with your Coles Mastercard is lost, stolen or damaged within 6 months of purchase.

• Does Coles Mastercard offer travel insurance?

  Coles Platinum Mastercard credit cards don't currently offer travel insurance.

  If this is a feature you want, you can compare credit cards that currently offer travel insurance to find one that works for you.

• Does Coles Mastercard offer price protection insurance?

  Currently, there are no Coles Mastercard credit cards that offer price protection insurance. But you can compare credit cards with price protection or a guaranteed pricing scheme on Finder if you're interested in other options.

Compare Coles credit cards

Name	Purchase rate p.a.	Bonus points	Points per $ spent	Interest-free period	Balance transfer rate p.a.	Annual fee
Coles No Annual Fee Mastercard Flybuys	Purchase rate p.a. 0% for 6 months, then 20.74%	Bonus points N/A	Points per $ spent 0.5	Interest-free period Up to 55 days on purchases	Balance transfer rate p.a. 20.74%	Annual fee $0	Go to siteMore Info Compare	Save with an ongoing $0 annual fee and 0% interest on purchases for the first 6 months. Ends 31 July 2024.
Coles Rewards Mastercard Flybuys	Purchase rate p.a. 20.74%	Bonus points 50,000	Points per $ spent 2	Interest-free period Up to 55 days on purchases	Balance transfer rate p.a. 20.74%	Annual fee $99	More Info Compare	Get 50,000 bonus Flybuys points (worth $250 Flybuys Dollars) when you spend $3,000 on eligible purchases within the first 3 months.
Coles Low Rate Mastercard Flybuys	Purchase rate p.a. 13.49%	Bonus points N/A	Points per $ spent 0.5	Interest-free period Up to 55 days on purchases	Balance transfer rate p.a. 0% for 15 months with 1.5% balance transfer fee, then 20.74%	Annual fee $58	More Info Compare	Save with 0% p.a. for 15 months on balance transfers (with a 1.5% BT fee). Plus, earn Flybuys points on Coles spending.

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Written by

Amy Bradney-George

Editor

Amy Bradney-George was the senior writer for credit cards at Finder, and editorial lead for Finder Green. She has over 16 years of editorial experience and has been featured in publications including ABC News, Money Magazine and The Sydney Morning Herald. See full bio

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