Comprehensive insurance
What is it?
Of course you're a careful driver; eyes on the road, staying under the speed limit, phone safely out of reach. Unfortunately, accidents and theft still happen to good drivers. Oly offer's comprehensive insurance options to cover you for everything from small dings and hail damage, to your car being nicked from outside your house.
Why it's worth having...
The comprehensive insurance coverage includes pretty much anything that might happen to your car (or someone else's if an accident is your fault). That includes:
- If your car is damaged by rain, hail, floods, storms, cyclones and earthquakes
- If your beautiful, precious car is stolen
- If your car is vandalised
- If you accidentally damage someone else's car with your car
- Hooking you up with a hire car after an accident, while you wait to get your car back (up to the policy sub-limit $100/day for a maximum of $4,200)
What's not included...
Driving without a license or under the influence of drugs or alcohol is always a dumb idea, and your insurance won't cover any incidents that happen in those conditions.
You're also not covered if you're using your car to carry passengers in exchange for money or other remuneration. Which means no turning your car into an Uber.
The fine print
These examples are only provided as a summary. Please read the Product Disclosure Statement for all of the important product terms and conditions and other info that might be relevant for you.
For example
Ella goes outside and her car isn’t where she left it. Oh no. She reports the stolen car to the police who aren’t able to find it. Ella lodges a claim with the insurance company Oly has set her up with.
The insurance company sets Ella up with a hire car while they assess her claim, then once it’s approved, pay her out so she can get a new car.
Important documents
If you’re having trouble accessing any of these documents, get in touch and Oly will organise copies for you by another method.
For your reference Oly suggests hanging onto copies of these Product Disclosure Statements and Financial Services Guides with your lease documentation.
Product Disclosure Statements (PDSs)
Download and read the Product Disclosure Statements for all the details, terms and conditions of each of the insurance products.
Product Disclosure Statement - Allianz Motor Vehicle Lease Insurance (Comprehensive Policy) - Issued August 2021
Product Disclosure Statement - Pacific International Insurance Motor Vehicle Lease Insurance Options Policy (combined PDS and FSG) - Issued April 2024
These Financial Services Guides explain the services that Oly provides as an authorised representative of various providers.
Financial Services Guide - Allianz Motor Vehicle Lease Insurance - Issued May 2024
Financial Services Guide - Pacific International Insurance Motor Vehicle Lease Insurance Options Policy (combined PDS and FSG) - Issued April 2024
These documents describe the target markets, distribution conditions and other information about these insurance products.
Target Market Determination – Allianz Motor Vehicle Lease Insurance (Comprehensive Policy) - Issued June 2022
Target Market Determination – Pacific International Insurance Motor Vehicle Lease Insurance Options Policy - Issued March 2024
Insurance
If you chose any of the optional novated lease insurance products, it is included in the cost of your lease. You will receive your policy document when you enter into your lease. Oly Pty Ltd (69 674 252 629 ) (Oly) is authorised by:
• Allianz Australia Insurance Limited (ABN 15 000 122 850, AFSL 234708) to provide general advice on and arrange Motor Vehicle Lease Insurance(Comprehensive Policy) issued by Allianz.
• Pacific International Insurance (ABN 83 169 311 193, AFSL 523921) to provide general advice on and arrange Motor Vehicle Lease Insurance Options Policy issued by Pacific International Insurance.
Insurance disclosures
The Product Disclosure Statement (PDS) for each insurance product includes the full terms and conditions and the Financial Services Guide (FSG) includes information about the financial services Oly provides.The Target Market Determination (TMD) describes the target market for each insurance product, the distribution conditions and other information about these insurances. You can obtain these documents by visiting our website or contacting us at 1300 328 182 or [email protected]
Things you need to know: This webpage does not constitute financial product advice. This general information doesn't take your personal circumstances into account. Please read the PDS and consider whether this information is right for you before making a decision and seek professional independent tax and financial advice. Conditions and fees apply, along with credit assessment criteria for lease products. The availability of novated leasing is subject to your employer's approval. Oly may pay and/or receive commissions in connection with its services.