Motor Insurance PDS - Zurich

1 Zurich Motor InsuranceProduct Disclosure StatementPreparation date: 5 December 2022 Effective date: 28 February 2023 Page 1 of 40 ContentsZU09574 - V7 01/23 - PCUS-019450-2023 About our Motor InsuranceAbout Zurich .. 2 How to apply for this Insurance .. 2 Our Motor Insurance .. 2 Our contract with you .. 3 Significant issues to consider .. 3 Duty of Disclosure .. 5 How we calculate your premium .. 6 Goods and Services Tax .. 6 How to make a claim .. 6 Privacy .. 7 Cooling-off Period .. 7 General Insurance Code of Practice .. 7 Complaints and Disputes Resolution process .. 8 Financial Claims Scheme .. 8 Repairs, Repairer Choice and Parts policy .. 8 Headings .. 9 Updating this 9 Benefits of cover available .. 10 Motor Insurance policy WordingDefinitions .. 12 Limitations of Cover Sections 1 and 2 .. 17 Exclusions of Cover Sections 1 and 2.

2 18 Terms and Conditions Sections 1 and 2 .. 21 Extensions of Cover Sections 1 and 2 .. 23 Optional Extension of Cover Sections 1 and 2 .. 25 Section 1 Own Damage .. 26 Cover .. 26 Basis of Settlement Section 1 .. 26 Limitations of Cover Section 1 .. 26 Exclusions of Cover Section 1 .. 27 Extensions of Cover Section 1 .. 28 Optional Limitation of Cover Section 34 Optional Extensions of Cover Section 1 .. 34 Section 2 liability .. 36 Cover .. 36 Limitations of Cover Section 2 .. 36 Exclusions of Cover Section 2 .. 36 Extensions of Cover Section 38 Optional Extension of Cover Section 2 .. 40 Page 2 of 40 About ZurichThe insurer of this product is Zurich Australian Insurance Limited (ZAIL), ABN 13 000 296 640, AFS Licence Number 232507. In this document, ZAIL may also be expressed as Zurich , we , us or our .ZAIL is part of the Zurich Insurance Group, a leading multi-line insurer that serves its customers in global and local markets.

3 Zurich provides a wide range of general Insurance and life Insurance products and services in more than 210 countries and territories. Zurich s customers include individuals, small businesses, mid-sized and large companies, including multinational sometimes italicise terms in this PDS, to show that words are abbreviations or have a particular defined meaning. You should refer to the Definitions section of this document from page 12 to obtain the full meaning of such to apply for this insuranceThroughout this document when referring to your Insurance broker or adviser, we may simply refer to them as your you are interested in buying this product or have any enquiries about it, you should contact your intermediary who should be able to provide you with all the information and assistance you you are not satisfied with the information provided by your intermediary you can contact us at the address or telephone number shown on the back cover of this document.

4 However, we are only able to provide factual information or general advice about the product. We do not give advice on whether the product is appropriate for your personal objectives, needs or financial Motor InsuranceThe Zurich Motor Insurance is designed for small to medium enterprises operating one or more vehicles. This policy can include sedans, light commercial vehicles, heavy vehicles, plant and equipment. The policy cover can be customised to meet your business requirements. Some of the options can be summarised as follows:Comprehensive CoverThis provides both: cover for certain loss or damage to your vehicle (Section 1); and liability cover for certain loss or damage you or certain other people cause to third party vehicles and property (Section 2).Own Damage Only CoverThis provides: cover for certain loss or damage to your vehicle (Section 1).About our Motor InsuranceThis Product Disclosure Statement (PDS) is an important document.

5 You should read it carefully before making a decision to purchase this PDS will help you to: decide whether this product will meet your needs; and compare this product with other products you may be information contained in this PDS is general information only. It is important you read your policy to ensure you have the cover you 3 of 40 Third Party Property Damage Only CoverThis provides: liability cover for certain loss or damage you or certain other people cause to third party vehicles and property (Section 2).Fire, Theft and Third Party Property Damage CoverThis provides both: cover for certain loss or damage to your vehicle by fire or theft only (Optional Limitation of Cover Section 1 refer to page 34); and liability cover for certain loss or damage you or certain other people cause to third party vehicles and property (Section 2).Fire and Theft Only CoverThis provides: cover for certain loss or damage to your vehicle by fire or theft only (Optional Limitation of Cover Section 1 refer to page 34).

6 For a summary of benefits available to you, see Benefits of cover available on pages 10 and contract with youYour policy is a contract of Insurance between you and Zurich and contains all the details of the cover that we provide. Your policy is made up of: the policy wording, which begins on page 12 of this document. It tells you what is covered, sets out the claims procedure, exclusions and other terms and conditions of cover; the information you provide to us when applying for Insurance cover; your most current policy schedule issued by us. The schedule is a separate document unique to you, which shows the Insurance details relevant to you. It includes any changes, exclusions, terms and conditions made to suit your individual circumstances and may amend the policy ; and any other changes otherwise advised by us in writing (such as an endorsement or a supplementary PDS). These changes vary or modify the above note, only those sections shown as covered in your schedule are document is also the PDS for any offer of renewal we may make, unless we tell you otherwise.

7 Please keep your policy in a safe reserve the right to change the terms of this product where permitted to do so by issues to considerInsurance contracts contain policy exclusions, policy terms and conditions and policy limits and sub- limits that you should be aware of when deciding to purchase our product. These may affect the amount of the payment that we will make to you if you have a may express some policy terms, policy limits or sub- limits as being either a dollar amount or a percentage of your nominated Basis of Settlement value shown in your schedule or some other amount, factor or item specified in the relevant clause of this should be aware of the following matters in considering whether this product is suitable for your 4 of 40 Basis of Settlement Section 1 When Section 1 Own Damage is selected, there are three Basis of Settlement options: agreed value, market value or the sum insured value.

8 Agreed value is available if your vehicle is a sedan, station wagon, 4WD, utility, panel van or Other Goods Carrying Vehicle, with no greater than two tonnes payload carrying capacity. Market value is available if your vehicle has a payload carrying capacity no greater than five tonnes. If your vehicle has a payload carrying capacity of five tonnes or more, only sum insured value may be stated in the schedule as the Basis of Settlement and we will insure by reference to the amount specified by you; however, if an event occurs to your vehicle, we will calculate benefits of cover by reference to the lesser of the market value or the sum insured refer you to the Definitions applying to Section 1 from page 12, which explains how we apply these categories of cover. The correct Basis of Settlement selection is vital, as an incorrect selection may possibly leave you of Settlement Section 2 When Section 2 liability is selected, we have automatically included the limits of liability within the policy .

9 We recommend you refer to page 36 and you review these limits to ascertain if they are adequate for your GoodsWhen Section 2 liability is selected, we provide cover where your vehicle is being used for, attached to, or towing a vehicle used for the transport of dangerous goods. We recommend you refer to page 36 and review the limit of dangerous goods cover provided, to ascertain if it is adequate for your of CoverThe policy Extensions of Cover are automatically included. Some of these cover certain additional costs and expenses you may incur when you have loss or damage, such as for removal of debris / load and retrieval costs. Some Extensions of Cover have limits that apply either per event, vehicle, period of Insurance , accident, loss or day. These limits are in addition to the amount we pay for damage to your vehicle, unless the Extension of Cover states that the amount payable is included in the maximum amount we will pay you for damage to your vehicle.

10 We suggest you review these limits to see if they are adequate for your refer to Extensions of Cover Section 1 and 2 on page 23, Extensions of Cover Section 1 from page 28 and Extensions of Cover Section 2 from page 38 for full details. Some of these major benefits are listed in Benefits of cover available from page Extensions of CoverThe policy has Optional Extensions of Cover which may be available to you and which you may wish to consider: Hire vehicles (refer to page 25); Contents of caravan / trailer (refer to page 34); Driver accident benefit (refer to page 35); Hire vehicle following an accident (refer to page 35); Increased non-owned trailer liability (refer to page 40).Excesses can applyFor each of the available covers, a basic excess and, in certain circumstances an additional excess, may apply. A basic or additional excess is not an additional fee charged by us at the time of making a claim.