Need some help? We've got you covered
Your car is more than just something that gets you from A to B.
It makes road trip holidays possible, gets the kids to their weekend activities, impresses first dates (sometimes), and can make things more convenient. It can be hard to put a price on the lifestyle that a car makes available to you. But there's still a price – cars can be expensive things! First, there's the upfront cost of buying the car outright or financing it. Then there are other ongoing costs to consider like fuel, servicing, repairs, maintenance and insurance. So, what happens to your lifestyle and finances if something goes wrong and your car is damaged, destroyed, or stolen? What happens if you're in a bingle and damage someone else's property? Well, that's when having comprehensive car insurance could help. If you already know what this type of insurance is, click below to get a quote on car insurance. Otherwise, you can read on for more information.
What is comprehensive car insurance?
What's covered?
Comprehensive car insurance is insurance to help protect your finances if you damage your car, or someone else's car or property. It also covers you if your vehicle is damaged by fire, theft, or malicious damage caused by someone else. It's the most extensive form of car insurance and offers more cover for more things, when compared to a basic car insurance option.
Is comprehensive car insurance mandatory?
No. The only type of mandatory car insurance is Compulsory Third Party (CTP) insurance. CTP insurance is mandatory for every Australian driver in every state and territory and provides cover if you were to cause injury or death in an accident.
Does People First Bank offer car insurance?
Yes! We've teamed up with CGU to provide our members with five car insurance options: third-party property damage, third-party fire and theft, and three comprehensive cover options.
If you're after car insurance quotes, we encourage you to understand the differences between these levels of cover. These are in addition to CTP insurance:
• Third-party property damage – this generally provides cover if your vehicle causes damage to someone else's vehicle or property, like their car, motorbike, or home. It doesn't cover your own vehicle.
• Third-party fire and theft insurance – this generally includes everything in third-party property damage cover, plus it covers your own car if it is damaged by fire or is stolen. It doesn't cover damage to your vehicle if you're in a crash or collision.
• Comprehensive Basics Car Insurance can help cover incidents such as damage caused by collisions, fire, theft, and adverse weather conditions. Additionally, it covers any damage your car may cause to other people’s vehicles and property. As an entry-level option, this policy does not include optional extras.
• Comprehensive - It also covers any damage your car may cause to other people’s vehicles and property. Seeking flexibility? This policy allows you to add extras like no excess for glass damage and the option to choose your repairer.
• Comprehensive Plus - Unlike Comprehensive Basics and Comprehensive policies, this policy includes extras such as a hire car after an accident and $0 excess on glass repairs. Additionally, it also provides higher value limits for certain coverages.
With each of our three levels of car insurance, you'll get basic cover for costs to third-parties, with more cover for your own car as you move up through the levels.
If you're after a full breakdown of what events are covered under each policy level, you can find detailed explanations in our Motor Vehicle Insurance Product Disclosure Statement.
It's written in plain English to make it easy to find information. If you have questions or need a hand getting through it, reach out to us for a chat or visit us at one of our branches for a one-to-one.
Do I need car insurance?
What information will I need for a car insurance quote?
There are a few pieces of information that you’ll need to have on hand if you’d like to get a quote from us. The information we need to calculate a quote for comprehensive car insurance includes:
• Whether the vehicle is for personal or business use
• The registration number/number plate of the vehicle
• The vehicle’s make, model and manufacture year (to double check against the database)
• Details of any manufacturer-installed or aftermarket accessories fitted to the car
• Whether you want to insure for the market value or agreed value (more on this below)
• What suburb the vehicle is parked in overnight
• The structure, if any, that the vehicle is parked in overnight
• Details about any finance you might have against the vehicle
• Information about any young drivers, like their licence type, date of birth and any at-fault incidents they’ve been in over the last two yearsPreparing this information ahead of time can help you get through the quote process much faster. When in doubt, more information is always better to get an accurate quote.
Get a quote today
What's the difference between market value and agreed value?
When you're getting your quote, you'll be asked whether you would like to insure the vehicle for its market value or agreed value. The difference between them is the time at which we decide on the value of the vehicle: when you take out the policy, or when you make a claim.
Here's a simple explanation of each:
• Agreed value: a fixed amount we agree to cover your car for during the current period of insurance. This value includes any accessories and modifications you have fitted.
• Market value: our assessment of the value of your car is based on market rates, as well as the age and condition of your car at the time of a claim.