Cover information and limits in the table below verified as correct at 27 April 2024. Other information correct at the time of writing.
Advertiser disclosure.
Important information on terms, conditions and sub-limits
| Product | Monthly premiums available | Maximum no claim discount | Online discount | Choice of repairer |
|---|---|---|---|---|
| Comprehensive Car Insurance |
Yes |
Not Published |
n/a |
No |
The Bank of Queensland offers insurance underwritten by Vero, one of Australia’s largest insurance companies. Vero has over 180 years of experience in the insurance industry and offers its products exclusively through insurance brokers and authorised agents.
BOQ offers two main types of car insurance - comprehensive and third party property damage. You can also choose to up your third party cover by adding an optional fire and theft benefit.
Generally speaking, comprehensive car insurance is the highest level of cover you can get for your wheels. Some noteworthy features of BOQ’s comprehensive policy are the ability to choose either market or agreed value, choice of repairer with a lifetime guarantee on authorised repairers, accessories cover and hire car cover following a theft or not-at-fault accident.
Other features of BOQ’s policy include:
Legal liability cover up to $20 million
Cover for loss or damage to someone else’s property
Cover for loss or damage caused by theft, attempted theft or fire
Emergency vehicle repairs
Reasonable towing and storage costs, if your car cannot be driven
New car replacement cover, if yours is written off within two years of original registration
Maximum $750 personal effects cover (up to $500 per item)
Maximum $500 emergency accommodation and travel costs cover, applies if you break down 100kms or more from home
Baby seat or capsule cover, maximum $500
Cover for accessories, up to 5% of the vehicle’s market value or $2,000 (whichever works out less)
Up to $1,500 worth of cover for a trailer or caravan
Up to $1,000 to replace keys or recode locks, if yours are stolen.
There is also no extra charge to pay your premium monthly and up to $100 cover for a taxi fare to get you home after an accident. That is if your car cannot be driven and you are within 100km of your home.
There are a few optional extras available with Bank of Queensland’s comprehensive cover, these are:
Restricted driver cover, this restricts cover to drivers aged over 30.
A windscreen excess waiver - this means that you will not have to pay the basic excess for the first windscreen or window glass replacement claim in an insurance period. The basic excess will apply for any additional windscreen window glass claims.
A hire car following an at-fault or penalty claim.
A protection for the no claims benefit, available to those with a maximum no claims bonus of 65% or rating one. With this optional extra your no claims bonus will not be affected by the first ‘penalty claim’ in an insurance period. If you manage to go claim free for three consecutive years with a no claims bonus protection, you may be eligible for lifetime protection.
It should be noted that all of these optional extras will up the overall cost of your premium.
Unfortunately no, BOQ does not offer roadside assistance. You can however, purchase this separately from other car insurance providers.
Bank of Queensland’s third party car insurance provides cover for damage you may cause to someone else’s property. This includes up to $20 million of legal liability. BOQ may also provide cover if your car is damaged by an uninsured driver.
Plus, you can increase your third party cover with optional fire and theft protection for your vehicle. This includes cover for an attempted theft, theft, fire, lightning and an explosion.
The cost of car insurance is called a premium and with BOQ you can pay this annually or monthly, at no extra cost. Factors that may affect the price of your premium are:
What your sum insured is (whether you choose market or agreed value)
Where you park your car at night
What you use your car for
The age of drivers listed on your policy
The gender of drivers listed on your policy
How many drivers are listed on your policy
Whether your car is financed
What type of car you have and how old it is
The average distance you drive your car each year
Your excess(s)
If you add optional extras on to your policy
As well as the factors listed above, discounts may also have some bearing on the premium you pay. The main discounts on offer with this comprehensive car insurance policy are:
A no claims bonus
A lifetime no claims bonus protection
and a loyalty bonus
A no claims bonus is a discount a number of car insurance providers offer as a reward for driving safely. For each year that you do not make a claim that affects your no claims bonus, your discount will increase by one level, until you reach the maximum discount level.
The discounts are as follows:
No claim bonus | Discount | Renewal discount |
Level 1 or 2 | 65% | 65% |
Level 3 | 55% | 65% |
Level 4 | 45% | 55% |
Level 5 | 25% | 45% |
Level 6 | 0% | 25% |
If you make a claim that affects your no claims bonus, your discount level may decrease.
BOQ has five types of excess that may apply to your claim, depending on what is listed on your policy. These are:
Basic excess - BOQ will work this out when your policy is issued. It will be based on the state or territory where you live and the value of your car.
Inexperienced driver excess - This excess is $400 and applies to drivers aged 25 or over who have been licensed for less than 2 years.
Age excess - This is between $300 and $700, depending on the age of the driver and where the car is parked at night.
Undisclosed driver excess - This is $1,500 and applies in addition to the basic excess and age excess. It applies if a person driving at the time when an incident occurs is under 25 and not listed on your policy.
Underwriting excess - An additional excess known as an ‘underwriting excess’ may also be applied when your insurance policy is issued. This may be added depending on your driving history and claims experience.
If you need to make a claim with BOQ you can call 1800 675 511. BOQ will give you advice on whether to take your car to an Assessing Centre or to a repairer.
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