Fine print – Allianz
The Bank arranges this insurance as agent of the insurer Allianz Australia Insurance Limited ABN 15 000 122 850 AFS Licence No. 234708 (Allianz). The Bank acts as an agent for Allianz and not your agent. Neither the Bank nor Allianz provide advice based on any consideration of your objectives, financial situation or needs. To decide if it is right for you please carefully read the relevant Product Disclosure Statement available online or by contacting us. The Target Market Determination is available by calling 1300 139 418. If you purchase this insurance, the Bank will receive a commission that is a percentage of the premium depending on the product. We also have an arrangement with Allianz to provide marketing, administrative and support services relating to Allianz insurance products in return for a share of aggregate profits from insurance policies (excluding CCI policies) issued by Allianz that we arrange. Ask us for more details before we provide you with any services on this product.
1 Online Discount
When you buy a new home insurance policy online a discount of up to 10% is applied to your first years premium including the following optional covers (if selected); Accidental damage, Flood, Motor Burnout and Portable Contents. This discount is not applied on renewal.
A discount of up to 10% for combining Buildings and Contents covers on one policy is applied for Building and Contents, Motor Burnout and Accidental damage cover where applicable. The combined policy discount does not apply to the optional Flood or Portable Contents covers. This combined discount does not apply to Landlord Insurance policies.
3 No Claims Bonus
When you take out a new policy, we calculate your No Claims Bonus (NCB) based on your home or landlord (as applicable) insurance claims history. To qualify for the maximum No Claim Bonus of 30%, home insurance customers must have had no Building or Contents insurance claims in the preceding 5years. Landlord customers must have had no Landlord insurance claims in the preceding 3 years. However, customers who have had claims may still qualify for a reduced No Claim Bonus.
4 Minimum premiums
If you are eligible for more than one discount, Allianz applies them in a predetermined order. This means any subsequent discount will be applied to the reduced premium amount after applying any prior discounts and the effect of the subsequent discount will be reduced. For example, the aggregate effect of applying two 10% discounts consecutively means that you will not see the full benefit of both these discounts.
Discounts do not apply to taxes or government charges.
Discounts do not apply to optional covers for Domestic workers’ compensation / Landlord workers’ compensation, and may not apply to other optional covers (if available and selected).
Any discounts/entitlements may be subject to rounding and may only apply to the extent that any minimum premium is not reached.
5 Option to change your excess
Not available when an additional compulsory excess or imposed excess applies. Minimum Premiums apply.
6 Instalment premiums
If you choose to pay your premium by instalments you do not pay us any more than if you pay your premium in one lump sum annually. The premiums payable by instalments may be subject to minor adjustments (upwards or downwards) due to rounding. Note: Your financial institution may apply transaction fees to instalment payments.
7 72 hour waiting period
We do not provide cover for any loss of or damage to your property caused by cyclone, grassfires and bushfires, during the first 72 hours after you first purchase a policy or increase your cover under an existing policy.