If you take both Buildings and Contents insurance here’s how they can work together if the unexpected occurs;
We do not provide advice based on any consideration of your objectives, financial situation or needs. Terms, conditions, limits and exclusions apply. Before making a decision please refer to the relevant Home Product Disclosure Statement (PDS), any applicable supplementary PDS and Home Buildings or Home Contents Key Fact Sheets also available for reference
Qudos Bank ABN 53 087 650 557 AFSL/Australian Credit Licence No. 238305 arranges this insurance as agent for the insurer Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL No 234708. We do not provide any advice based on any consideration of your objectives, financial situation or needs. Policy terms, conditions, limits and exclusions apply. Before making a decision, please consider the Product Disclosure Statement and key fact sheets available from www.qudosbank.com.au. The relevant Target Market Determination is available by calling 1300 747 747. If you purchase this insurance, we will receive a commission of 18% that is a percentage of the premium. Ask us for more details before we provide you with services. See our Financial Services Guide or ask us for more details.
1. 72 hour exclusion period
We may not provide cover for any loss of or damage to your property caused by cyclone, flood, grassfires and bushfires, during the first 72 hours after you first purchase a policy or increase your cover under an existing policy. Refer to PDS for when exclusion periods apply.
2. Online discount
[Home] When you quote and buy a new home insurance policy online a discount of up to 10% is applied to your first year's premium including the following optional covers (if selected); Accidental damage, Flood, Motor Burnout and Portable Contents. This discount is not applied on renewal.
[Landlord] When you quote and buy a new Landlord insurance policy online, a discount of up to 10% is applied to your first year's premium including the optional covers (if selected): Flood and Rent Default and Theft by Tenant. This discount isn't applied on renewal.
3. Combined
Combined Discounts
[Applies to Home & Contents only] A discount of up to 10% is applied to your premium when you combine Buildings and Contents on one Home Insurance policy, including for the following optional covers if selected: Motor Burnout and Accidental Damage cover. The combined discount doesn't apply to Landlord policies, Flood or Portable Contents optional covers.
4. 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.
[Home] The No Claim Bonus is applied to some optional covers if selected; Motor Burnout and Accidental Damage, but not Flood or Portable Contents cover, if selected.
[Landlord] The No Claim Bonus discount doesn’t apply to optional cover Flood, if selected, but is applied to Rent Default and Theft by Tenant, if selected.
5. 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.
6. Option to change your excess
[Home] Not available with respect to any additional compulsory excess, imposed excess applied to the policy or to the Portable contents excess. Any reduction in premium will not be applied to government taxes and charges, or to optional covers (if available and selected): Domestic Workers compensation, Flood or Portable contents. Minimum premiums apply
[Landlord] Not available with respect to any additional compulsory excess, or to the imposed excess applied to the policy. Any reduction in premium will not be applied to government taxes and charges, or to optional covers (if available and selected): Landlord’s Workers Compensation, or Flood. Minimum premiums apply.
7. 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.
