Bankwest Car Insurance Review | Features & Extras | Savvy

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Bankwest is a division of CommBank which offers a variety of products, including car insurance. Read our review to learn more about its services!

Written by , updated on February 16th, 2024

Bankwest is an Australian financial institution based in Perth. Since being purchased by Commonwealth Bank in 2008, it’s operated as its subsidiary. Although its main focus lies in banking and loan products, Bankwest does offer car insurance, which is issued by leading Australian insurer Hollard.

Our review breaks down the car insurance policies available to purchase through Bankwest. Find out about their inclusions and optional extras right here with us today!

Disclaimer: all coverage offered by Bankwest is subject to the terms and conditions of your policy. Limits and exclusions apply. Please refer to your Product Disclosure Statement (PDS) or contact Bankwest if you’re unsure about what is and isn’t covered.

Please note that Savvy does not represent Bankwest for its car insurance products. All listed policies, inclusions and limits are correct as of July 2023.

What car insurance policies are available through Bankwest?

Bankwest offers the following types of car insurance to Australian drivers:

Comprehensive Cover

Third Party Property Damage, Fire and Theft Cover

Third Party Property Damage Cover

Comprehensive Cover

In Australia, comprehensive car insurance typically offers the greatest level of protection for your vehicle. Bankwest’s Comprehensive Cover includes the following areas:

Accidental loss of or damage to your car due to collision, impact, fire, storm, hail and flood damage, theft, attempted theft, vandalism or a malicious act
Up to $20 million in legal liability cover for damage to other people’s property caused by you or another individual driving your car (or for you driving a substitute vehicle if yours is unable to be driven due to an insured event)
Cover for theft of keys, including replacement keys and necessary recoding of locks (up to $2,000)
Accidental death benefit of $10,000 if the driver of your vehicle dies as a direct result of an insured event for which a claim has been accepted
Cover for fitted baby capsules or child seats which are damaged or stolen as a result of an insured event (up to $500)
Cover for veterinary expenses for an injury to a domestic pet caused in an insured event (up to $1,000)
Reimbursement of reasonable costs for emergency accommodation if your car is deemed unsafe to drive due to a covered incident and you're over 200km from your home (up to $600)
Coverage for emergency or temporary repairs required to ensure your car is safe to drive (up to a limit of $800)
Reimbursement of reasonable costs for a hire car after theft or attempted theft until your car is returned undamaged, is repaired or your claim is settled, up to a maximum of 14 days and $75 per day
Reimbursement for personal items damaged in an insured event or stolen from (or with) your locked vehicle in a covered incident (up to $1,000 for mobility devices and disability aids and $500 for other items)
Replacement of your car with a new one of the same make, model and modifications (where available) in the event of a total loss and if it’s within its first 24 months of registration and with you as the first registered owner
Temporary cover for a replacement vehicle for up to 14 days without telling Bankwest if you sell or give away your car and are replacing it with a new one
Reimbursement of reasonable costs for towing and storing your vehicle at the nearest repairer (or another reasonable request) if it's deemed unsafe to drive after an insured event
Cover for damage to, or loss of, a trailer or caravan attached to your vehicle (up to $1,000)
Reimbursement of costs for transporting you and/or your family home and to collect your vehicle upon its repair (up to $500)
Repair guarantee from Bankwest

Third Party Property Damage, Fire and Theft Cover

The middle level of cover of the three standard types of car insurance, Bankwest’s Third Party Property Damage, Fire and Theft Cover is a step down from its Comprehensive Cover but offers more covered incidents than its Third Party Property Damage Cover. These include:

Accidental loss of or damage to your car due to fire, theft and attempted theft
Up to $20 million in legal liability cover for damage to other people’s property caused by you or another individual driving your car (or for you driving a substitute vehicle if yours is unable to be driven due to an insured event)
Temporary cover for a replacement vehicle for up to 14 days without telling Bankwest if you sell or give away your car and are replacing it with a new one
Reimbursement of reasonable costs for towing and storing your vehicle at the nearest repairer (or another reasonable request) if it's deemed unsafe to drive after an insured event
Damage to your vehicle caused by an identified uninsured driver (up to $5,000)
Repair guarantee from Bankwest

Third Party Property Damage Cover

The cheapest and most basic level of protection, third party property damage car insurance is designed to provide you with legal liability cover if you damage someone else’s property, rather than focusing on your vehicle itself. Bankwest’s version of this policy includes:

Up to $20 million in legal liability cover for damage to other people’s property caused by you or another individual driving your car (or for you driving a substitute vehicle if yours is unable to be driven due to an insured event)
Temporary cover for a replacement vehicle for up to 14 days without telling Bankwest if you sell or give away your car and are replacing it with a new one
Repair guarantee from Bankwest

Are there any optional extras available through Bankwest?

Yes – Bankwest offers several optional extras on its Comprehensive Car Insurance policies. These are:

Driver age restriction option, allowing you to cap the covered driver age at 30, rather than under 25, and pay a reduced premium as a result
Reimbursement of reasonable costs for a hire car after an insured event until your car is repaired or your claim is settled, up to a maximum of 14 days and $75 per day
Optional additional car insurance excess to be paid upon a claim, entitling you to a reduced premium
No-claim discount protection for drivers with a 65% NCD or are at Rating 1 and above
No excess for claims relating solely to windscreen, window and sunroof glass damage (one per period of insurance)

What are some of the pros and cons of buying car insurance through Bankwest?

Generous stolen key cover: you can claim up to $2,000 for costs relating to the replacement of your stolen keys and recoding of your car’s locks.
Cover for injuries to pets: an area not commonly covered by other insurers, Bankwest can offer up to $1,000 in vet expense cover if your pet is injured in an insured event.
Agreed or market value cover: you can decide whether to insure your car for its market value or agree another value with Bankwest in the event of a total loss.

No cover for phones, computers or tools: while there is cover for personal items, phones, computers and tools or trade are all omitted from your Comprehensive Cover.
No uninsured driver cover on TPPD policies: even if you’re 100% not at fault for the incident, you won’t be covered for damage caused to your vehicle by an uninsured driver if you have Bankwest’s TPPD cover.

Common questions about Bankwest car insurance

Can I pay my car insurance monthly or annually through Bankwest?

Yes – you can choose whether to pay your car insurance premiums monthly or annually with Bankwest. While monthly payments can only come in the form of direct debits, annual premiums can also be paid by BPAY, phone, internet banking or cheque by mail.

Does Bankwest offer roadside assistance?

No – you can’t purchase roadside assistance directly through Bankwest. However, its insurance issuer, Hollard, does offer this service, as do a variety of other insurers.

In what states does Bankwest offer car insurance in Australia?

Although Bankwest’s branches are primarily located in Western Australia, you can purchase its car insurance online from anywhere around the country.

How do I make a claim through Bankwest?

Through Bankwest, you can make your car insurance claim over the phone or keep in contact via email to check in on existing claims still being processed.

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Disclaimer and important things you should know

Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.

We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.

For more information about us and how we conduct our business, you can read our privacy policy and terms of use.