Rates and fees verified as correct at 17 October, 2021. Other information correct at the time of writing. Advertiser disclosure.
|Product||Monthly premiums available||Maximum no claim discount||Online discount||Choice of repairer|
|Car Insurance|| |
An APRA (Australian Prudential Regulation Authority) and ASIC (Australian Securities Investment Commission) regulated licensee, Eric Insurance Limited underwrites its own insurance policies.
Eric offers comprehensive car insurance, it does not offer third party or compulsory third party car insurance.
In short, eric’s comprehensive car insurance provides legal liability cover and cover for loss or damage to your vehicle. In a little more detail its cover includes:
Up to $20 million of legal liability
Up to $500 of emergency travel/accommodation cover (when you are 100km or more from your usual address)
Up to $2,000 for a hire car following a theft
As much as $500 to replace keys or locks
Up to $750 to replace personal property that is lost or damaged
Reasonable towing costs
Trailer cover up to $1,000
A choice between limited or unlimited transfer vehicle cover
Unlimited transit cover
Replacement of a new vehicle. That is if your car is written off within 24 months of original registration (it must also have less than 70,000km on the clock).
Funeral expenses up to $2,000
Eric also offers optional windscreen cover up to $600. This will provide cover if your front or back windscreen is damaged and needs either repairing or replacing. With this benefit, eric will pay for one front or back windscreen claim, excess-free, per insurance period.
Of course, there are also some things that eric won’t cover you for. These include:
Using your car for hire. That is as part of a rideshare service, as a taxi or as a rental vehicle.
If your car is used for business purposes and driven by multiple people.
Consequential loss. This means any loss that occurs as a result of a claim you may have to make. For instance, if you cannot get to work and lose wages.
Using your car as part of a courier/delivery service.
If you drive while under the influence of alcohol or drugs.
If you leave your vehicle unlocked in a public space.
If you put your car up for sale and do not accompany potential buyers, while test driving.
If your car is used for anything illegal.
If you put the wrong fuel in your car.
Read eric’s product disclosure statement for more information on what is and what is not included in its comprehensive car insurance policy.
To be eligible for a comprehensive car insurance quote with eric, you must:
Have a vehicle no less than 20 years old
Have a vehicle with no pre-existing damage
Not be using your cars for excluded purposes. For instance, as a delivery service, as a business pool vehicle, as a hire/rental car, as an emergency vehicle or for racing.
Have a vehicle that is registered as roadworthy
All drivers must be licensed, following the rules of the state or territory in which you live.
All drivers must have a driving and accident history acceptable to eric’s underwriters.
To calculate your insurance premium, eric will look at a number of factors including:
What type of vehicle you drive
Your age and the age of any other listed driver(s)
Your driving history, as well as the history of other listed driver(s)
Where your vehicle is kept usually - in a garage or parked out on the street
How often your vehicle is driven
What government taxes/charges apply
Whether you choose to pay annually or in installments
Yes, with eric you can pay your premium in installments. However, it should be noted that eric will charge interest for this method of payment. So, you will wind up paying more overall, if you choose to pay in installments.
Plus, if you are more than 14 days late with your installments, eric can refuse to pay a claim. If your installment payment is more than a month overdue, eric can cancel your insurance policy altogether.
How much you wind up paying will depend on what excess applies. Eric has five types of excess, these are:
Inexperienced driver excess of $750. This applies if the driver has been licensed for less than two years in Australia.
Imposed excess. This will apply depending on the type of car you drive and the driving record of the driver in question, at the time of the incident.
International licence holder excess of $2,000. This applies if the driver at the time of the incident is only authorised to drive on an international licence.
Unlisted driver excess of $750 (does not apply to learner drivers). This applies if the driver at the time of the incident is under 25 and is not listed on your policy.
Unfortunately, eric does not advertise a no claims bonus discount.
There are three ways to lodge a claim with eric. These are:
Over the phone. You can call eric during business hours on 1800 999 977, to lodge a claim.
Online, via eric’s online claims page.
Through the post or via email. You can download a claim form from eric’s website and send it to either email@example.com or mail it to PO Box 9106 Scoresby, Victoria, 3179.