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Beyond Bank car insurance

Prior to 2013 Beyond Bank was credit union: Community CPS. Today it is officially a mutual bank, but it still falls very much under the customer owned umbrella. In fact, in keeping with its customer owned values, Beyond Bank became the first bank in Australia to become a certified B Corporation in 2015. So if socially conscious is high on your list of must haves for a financial provider, this one might be worth checking out.

In terms of financial products, Beyond Bank has a lot to offer. These include home loans, car and personal loans, credit cards, bank accounts and of course car insurance. If you are looking to cover your wheels, it offers both comprehensive and third party car insurance. Scroll down to read more about Beyond Bank’s car insurance offerings.

Beyond Bank offers the following car insurance policies

Cover information and limits in the table below verified as correct at 8 December 2023. Other information correct at the time of writing.
Advertiser disclosure.

Product Monthly premiums available Maximum no claim discount Online discount Choice of repairer
Comprehensive Car Insurance

Yes

Not Published

n/a

Yes

Who is Beyond Bank underwritten by?

Beyond Bank’s car insurance policies are underwritten by Allianz Australia Insurance Limited. A German multinational, Allianz is one of the largest insurance companies in the world. In Australia, the business underwrites numerous policies, including for NAB, Westpac Group, Heritage Bank and Teachers Mutual Bank.

What types of car insurance does Beyond Bank offer?

Beyond Bank offers both comprehensive and third property party car insurance. It does not offer third party fire and theft insurance.

What does Beyond Bank’s comprehensive car insurance cover?

If you’re keen to take out a policy with Beyond Bank and you want to get the highest level of insurance possible for your wheels, then this comprehensive car insurance plan could be the way to go. This policy comes with:

  • Up to $20 million legal liability

  • Cover for accidental loss or damage

  • New for old replacement - if your car is written off less than two years after its original registration

  • Up to $500 worth of cover for emergency repairs

  • A maximum $100 per day for up to 30 days for a rental car, if your car is stolen

  • Reasonable towing costs after an incident

  • Up to $1,000 trailer and caravan cover (or the market value of the trailer or caravan, whichever is less)

  • Up to $1,000 worth of cover for personal items 

  • Up to $1,000 worth of cover for emergency accommodation and travelling expenses following a covered accident (your car must be more than 100km from where it is usually parked)

  • Up to $500 per incident for transportation costs, if your car cannot be safely driven home

  • Up to $1,000 to cover stolen car keys - covers the cost of rekeying or recoding your vehicle

  • Up to $500 for a replacement child seat or baby capsule.

What optional extras are available?

Keen to have everything Beyond Bank has to offer? Well there are a few optional extras available to take advantage of too. These include:

  • $100 worth of cover per day for a rental car following an accident (for up to 30 days)

  • No basic excess for windscreen claims (if the broken windscreen is the only claim). For this you will get 1 replacement and 2 repairs in an insurance period.

  • Lastly, there is also the option to add up to $3,000 worth of cover for tools of trade to your comprehensive insurance policy.

What does Beyond Bank’s car insurance not cover?

As with all insurance policies, there are some instances in which Beyond Bank will not approve your claim. Some of these scenarios include:

  • If an unlicensed driver drives your car

  • If anyone driving your car is under the influence of drugs or alcohol

  • If your car is damaged in an incident while carrying too many passengers 

  • If your vehicle is used for motor sports

  • Tyre damage caused by braking, road punctures, cuts or bursts

  • If your keys are left in the ignition, or the doors or windows are left unlocked and your car is stolen.

It should also be noted that there is a 72 hour waiting period for cyclones, flooding and bushfires. This means that for the first 72 hours that you have this policy, you won’t be able to claim for any of these events. Check out the product disclosure statement (available on Beyond Bank’s website) for a full list of exclusions.

More FAQs about Beyond Bank’s car insurance

What does Beyond Bank’s third party car insurance cover?

In the unfortunate event that you are involved in an accident and it just happens to be your fault, you could wind up with a big bill from the mechanic if you don’t have third party car insurance.

In short, third party property insurance provides liability in case you are responsible for damaging someone else’s car. Beyond Bank’s third party property insurance provides:

  • Up to $20 million worth of legal liability cover

  • Legal liability when using a substitute car

  • Approved legal costs associated with a claim for liability 

It should be noted that Beyond Bank does not provide third party fire and theft insurance.

How much does Beyond Bank car insurance cost?

When you search car insurance, you’ll notice that providers don’t generally advertise set prices. This is because every customer is likely to have a slightly different insurance premium. 

Why is that you ask? Well at its core, insurance is all about risk and every single driver, depending on where they live, how old they are and what type of vehicle they drive will pose a different level of risk to an insurance provider. That is the risk - that said driver will have to make a claim. To figure out what the risk is, an insurance company will ask you a whole list of questions. 

Some information Beyond Bank will ask you for when providing a quote is:

  • Whether you’re taking out comprehensive or third party property car insurance

  • The address where your vehicle is usually parked at night

  • Your vehicle’s registration number

  • How many kilometres you usually driver each year

  • How old you are and how old other drivers are who will be driving your car

  • Whether you use your car for private or business purposes.

To reduce your premium you can choose the ‘named driver option.’ Just keep in mind that if a driver not listed in your policy is ever involved in an incident, you could be hit with the unnamed driver excess of $2,500.

You can also reduce your premium with one-off or ongoing discounts. At the moment Beyond Bank is offering a 10% discount on comprehensive car insurance policies purchased online. With this you will get 10% off your first year’s premium.

How do I pay my premium?

With Beyond Bank you can choose to pay your car insurance premiums annually in one lump sum, or in monthly installments. You can pay in monthly installments by direct debit from a nominated bank account or credit card.

How can I make a claim with Beyond Bank?

In the event that you have to, there are two ways to lodge a car insurance claim with Beyond Bank. These are:

  • Online. You can submit an online claim form at any time of the day or night. Once this is done a Beyond Bank claims consultant will be in contact with you ASAP.

  • Via telephone. Or if you’d rather speak to someone straight away, you can call Beyond Bank’s claims hotline on 1300 555 013. This hotline is open 24/7.

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