Territory Car Insurance Product Disclosure Statement and Policy. - TIO

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38 CLAIM EXAMPLE 2 Cover Sum insured Excess $500 Loss or damage Vehicle replacement cost How we settle your claim Comprehensive Cover Market Value Your vehicle is a total loss and more than 2 years old from its original registration date $40,000 • We settle your claim for $29,300 as follows: • We deduct your $500 excess • We deduct $200 for outstanding premium owing (refer to page 34 Comprehensive Cover-if your vehicle is a total loss) • We pay your finance company $10,000 outstanding on your loan to pay out your loan CLAIM EXAMPLE 3 Cover Comprehensive Cover Sum insured Market Value Excess $500 Loss or damage Your vehicle is a total loss and is within 2 years of its original registration date and you are the original owner of the vehicle Vehicle New vehicle replacement replacement cost How we settle • You pay us your $500 excess your claim • We obtain agreement from your credit provider specified on your Certificate of Insurance • We replace your vehicle with a new vehicle that is available in Australia • Total settlement value - new replacement vehicle of the same make, model, engine size and equipment. Including the first 12 months registration and stamp duty and associated costs. Territory Car Insurance Product Disclosure Statement and Policy
CLAIM EXAMPLE 4 Cover Sum insured Excess $500 Loss or damage Vehicle repair cost How we settle your claim Comprehensive Cover Market Value Your vehicle has been stolen and not recovered within the first 3 days, found 10 days later and can be repaired. $20,000 • We settle your claim for $20,500 as follows: • cost to repair your vehicle $20,000 less $500 excess = $19,500 • cost for hire car after theft = $1,000 • Total settlement value $20,500 39 CLAIM EXAMPLE 5 Cover Third Party Only Cover or Third Party Fire & Theft Sum insured Market Value Excess $500 Loss or damage Your vehicle suffers damage arising from a collision with anothervehicle that was not covered by an insurance contract at the time of the accident and you provide us with evidence of this. Repair/ $6,000 Replacement cost How we settle your claim • We settle your claim for $5,000 as follows: • cost to repair your vehicle $6,000 • less $500 excess • Total settlement value $5,000 (refer to page 15 Uninsured Motorists for cover limit) What this Policy Covers
Page 1 and 2: Territory Car Insurance Territory C
Page 3 and 4: 1 Table of Contents About this Insu
Page 5 and 6: Significant Features and Benefits o
Page 7 and 8: 5 Section 1 - Comprehensive Cover T
Page 9 and 10: Section 3 - Third Party Fire & Thef
Page 11 and 12: 9 Section 5 - Additional Cover This
Page 13 and 14: Hire Car after Theft 3 Comprehensiv
Page 15 and 16: No Claim Bonus 3 Comprehensive A no
Page 17 and 18: 3 Third Party Fire & Theft 3 Fire &
Page 19 and 20: Restricted Drivers Option 3 Compreh
Page 21 and 22: 1.5. loss by theft during or after
Page 23 and 24: 3.6. caused whilst your vehicle or
Page 25 and 26: What you do not need to tell us You
Page 27 and 28: • list the items that have been d
Page 29 and 30: Applicable Law Your insurance contr
Page 31 and 32: 29 Section 10 - Our Agreement with
Page 33 and 34: How we Calculate your Premium The c
Page 35 and 36: Type Imposed Excess Definition We m
Page 37 and 38: • if your vehicle is stolen and n
Page 39: Claim Settlement Examples The follo
Page 43 and 44: 3. Seek an external review If we ha
Page 45 and 46: market value PDS period of insuranc
Page 47 and 48: 45 Index 21 day cooling-off period

Territory Car Insurance Product Disclosure Statement and Policy. - TIO

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