How is my Motor Vehicle Insurance premium calculated?
The amount you pay for insurance depends on many factors including the type of cover and options you choose, the type of vehicle and where it is garaged, the drivers of your vehicle, including their age, driving and insurance record.
What is a no claim discount?
A No Claim Discount / Rating (NCD) is a discount off your premium. It is calculated based on your insurance or driving record. The discount increases each year to a set maximum if you do not make a claim that affects your discount.
When do I have to pay an excess?
Excess is the amount you might have to pay when you claim. The amount and types of excess are shown on your Certificate of Insurance. You would not likely have to pay an excess if:
Another vehicle is involved, insurers agree the driver of your vehicle was not at fault, and you can identify the vehicle and the other driver responsible (name, residential address, phone number and vehicle registration details) or
No other vehicle is involved, insurers agree the driver of your vehicle was not at fault, and you can identify the person responsible and prove that they were at fault (name, residential address and phone number).
What excesses apply to me?
Your certificate of insurance will show the types of excess that you might have to pay if you claim. Depending on the circumstances, you might have to pay more than one type of excess when you claim. There are three different types of excess,
Basic / Flexible excess
Insurance / Driving Record / Vehicle / Fixed excess
Age / Inexperienced driver excess
For more information about these excess types please read the Motor Vehicle Product Disclosure Statement
What is an agreed value?
An agreed value is the amount we agree to insure your vehicle for. This can change when your renew your policy. Your Certificate of Insurance will show this amount.
Can I have an agreed value policy?
You can elect to have an agreed value policy. An additional premium may apply. Ask us for a quote.
Do I need to list all drivers on my Motor Vehicle Insurance?
Yes, it is important to list all the drivers of your vehicle, as it might affect the premium you pay or insurer’s decision to insure you, OR pay any loss at claim time.
Do I need to list learner drivers?
No, if you have Comprehensive, Extra Cover or Third party property Damage Motor Vehicle Insurance there is no need to list drivers while they are on a learner permit.