Car Insurance

Frequently asked questions

• What are the different types of car insurance policies?

  P&N Bank offers a range of car insurance options, such as Comprehensive, Third Party Fire & Theft and Third Party Property Damage.

  Third Party Property Damage insurance covers loss or damage to another person’s vehicle or property caused by your vehicle, as well as any injuries caused to others in the event of a car accident. Third Party Fire & Theft insurance also covers this, and additionally provides cover for loss or damage caused to your vehicle by fire or theft.

  Comprehensive car insurance is a higher level of car insurance which covers damage to your vehicle, as well as the damage caused to other cars or property in an incident.

  Our Motor Vehicle Insurance PDS provides a detailed breakdown of what each policy covers. You should always consider the PDS when comparing the different car insurance options available to determine which level of cover is ideal for you.

  Compulsory Third Party insurance is compulsory for all cars in Australia.

• What does excess mean in relation to car insurance?

  An excess is your contribution towards the cost of an insurance claim. The type of excess that applies to your policy and the amount of the excess will be listed on your policy documents. The four types of excesses that may apply are: basic excess, age excess, inexperienced drivers excess and additional excess. Refer to our Motor Vehicle Insurance PDS for more information.

• How much does car insurance cost?

  The price of your car insurance is based on the likelihood of a claim being made on your policy in the future and can therefore vary. There are several factors we consider when calculating your premium.

  We calculate your premium by combining the:

  • Pricing factors
  • Policy options
  • Minimum and maximum premium
  • Government charges
  • Any discounts you’re eligible for

  To find out more about how we work out your premium, have a look at the relevant Product Disclosure Statement.

• How can I make an insurance claim?

  If you need to make a claim, we're here to help. You can make a claim by visiting the CGU insurance claims page, or alternatively, you can contact our insurance partner CGU’s 24/7 claims team on 13 24 80.