Introducing the new GIO Car Insurance Product Disclosure Statement (PDS) for policies renewing on or after 22 March 2021. The PDS is an important legal document that contains details of the product you purchase so you need to read it carefully.

The purpose of this page is to advise you of some of the changes that we have made to our GIO Car Insurance Product Disclosure Statement (PDS).

We’ve changed the layout of the PDS to help make it easier to understand. We have also made other changes to the policy – we have updated some of the wording to make it clearer and we have added and changed some covers, conditions and exclusions.

Below are some of the sections in the PDS where we have made changes (and some sections have new titles):

Summary of changes:

Important things to know upfront

Things we don’t cover

Additional cover that comes with your policy

Making a claim

Important things to know – our contract with you

For full details, please refer to your PDS.

The information above is not a complete list of the changes to GIO Car Insurance. For full details of what is and isn’t covered, please read the GIO Car Insurance Product Disclosure Statement (PDS) and consider the PDS before making a decision about this insurance.

EXTRA SUPPORT (new section in your PDS)

Sometimes your circumstances might mean you need additional support or assistance in dealing with us. If you are comfortable, you can tell us about your situation, and we will work with you to arrange support.

YOUR RESPONSIBILITIES

We have updated the term ‘take reasonable precautions’ with ‘take steps to prevent loss or damage’. We have also included some examples of how you can take steps to prevent loss or damage, such as not leaving your car keys in the car while it is unattended or not secure.

WHEN YOU NEED TO CONTACT US

Additional situations for when you must contact GIO have been included in the PDS. For example, you must tell us as soon as possible if:

  • you or any person who drives your car has their driver licence cancelled, suspended, disqualified or restricted
  • you or any person who drives your car has been charged with or convicted of a criminal act or offence
  • you have had another insurer cancel or decline an insurance policy, impose specific conditions on a policy or refuse a claim.

EXCESSES THAT APPLY TO YOUR CLAIM

We have removed any requirement for you to pay your excess upfront when a claim is lodged. We have also included an example of when your excess will be waived.

HIRE CAR AFTER A NOT AT FAULT INCIDENT AND HIRE CAR AFTER THEFT UP TO 21 DAYS

We now pay the reasonable cost of a hire car that meets your transport needs using our provider, or if there is no hire car that is similar make and model available within a reasonable distance of your location, we will pay you the reasonable cost you incur in hiring a car that meets your transport needs or in arranging alternative transport.

TRAILER COVER

Accidental loss or damage to a trailer is now covered up to $1,000 when it becomes detached from a moving car as well as when it is attached to your car.

HOW WE SETTLE YOUR CLAIM

We’ve made a range of changes to this section.

We have updated our settlement options including paying you the amount of the assessed quote if you choose not to accept the repair/replacement method and request a cash settlement.

Refer to this section of the PDS for details.

IF WE DON’T AUTHORISE REPAIRS

You can allow us to arrange the repair or your car or choose your own repairer. If you choose your own repairer, depending on your repairer’s assessed quote, the repairs may or may not be authorised. We have updated the wording to refer to what happens if we don’t authorise the repairs. We now pay the amount of the assessed quote from our preferred repairer, if you have requested a cash settlement and our preferred repairer is able to complete the repair or replace the damaged parts of your car.

UNAVAILABLE PARTS

We have removed the section ‘Obsolete parts’ from the PDS and replaced this with ‘Unavailable parts’. Where a damaged part is no longer available, we will pay you the last known market price of that part.

CONTRIBUTION TO REPAIRS

We have clarified when we may ask you to contribute to the cost of repairs where we are unable to safely carry out insured repairs due to pre-existing damage to your car. Examples of this include neglect, wear and tear, weathering, rust, mould, mildew or corrosion.

If you do not want to pay these amounts, we will pay you the assessed amount for the repairs directly related to the accepted claim.

OUR RIGHT TO RECOVER FROM THOSE WHO ARE RESPONSIBLE

We have added examples of the assistance that may be required from you if we take action against a party for the recovery of your loss.

JOINT POLICYHOLDERS

During the period of insurance, we might ask all joint policyholders first before we action a request or direction in relation to your policy (e.g. before we cancel your policy, reduce your cover or remove another policyholder). This way we can help protect the interests of all policyholders.

NEW SECTION - CONDUCT OF OTHERS

When we consider a claim, we will have regard to any prejudice suffered by you due to the conduct of others and we may meet the claim when we are not legally required to do so.

REMOVED - CANCELLATION FEE

If you decide to cancel your insurance cover with GIO, you will no longer be charged a cancellation fee.