Westpac Car Insurance Review | Cover, Features & Extras | Savvy

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Westpac is one of Australia’s Big Four, but did you know they also offer car insurance? Read our review to learn more about its services!

Written by , updated on February 16th, 2024

Westpac is one of Australia’s Big Four banks (alongside ANZ, NAB and Commonwealth Bank), specialising in banking products like transaction and savings accounts, credit cards, home loans, personal lending, investments and more. However, it also offers car insurance products, which are provided by one of Australia’s most popular insurers, Allianz.

You can learn about Westpac’s available car insurance options and what they offer in our review. Find out the inclusions and optional benefits, as well as what may not be covered, here!

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

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

What car insurance policies are available through Westpac?

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

Comprehensive Car Insurance

Third Party Property Damage Car Insurance

Comprehensive Car Insurance

Comprehensive car insurance is the policy which generally offers the most extensive coverage, which is the case with Westpac. The areas which are covered under Westpac’s Comprehensive Car Insurance policies include:

Accidental loss of or damage to your vehicle during the period of insurance, including due to theft (subject to terms and conditions)
New for old vehicle replacement for a vehicle purchased new or ex-demo (of the same or similar make, model, engine and modifications) which is declared a total loss within two years of original registration
Legal liability for damage to other people’s property caused by your car, up to $20 million
Supplementary bodily injury liability cover for up to $20 million
Cover for personal items accidentally damaged or stolen from your vehicle (up to $1,000)
Cover for child seats or baby capsules damaged in a covered incident (up to $500)
Reasonable cost of emergency repairs to ensure your car is safe to drive (up to $500 per incident)
Reasonable cost of emergency transport home or accommodation if your car is deemed unsafe to drive and is more than 100km from your home (up to $1,000 in total)
Reasonable cost of lock rekeying or recoding if your keys are stolen by a non-family member, co-habitant or invitee (up to $1,000)
Reasonable cost of a hire car after theft or attempted theft for up to 30 days (maximum of $100 per day)
Reasonable cost of towing and storing your vehicle if it’s deemed unsafe to drive after a covered event
Reasonable transport costs to return you, your partner and/or dependent children home or to collect your repaired vehicle (up to $500)
Cover for accidental loss of or damage to your trailer or caravan while attached to your vehicle (lesser of $1,000 or market value)
Temporary equivalent cover for a replacement vehicle after selling or giving away your vehicle and replacing it with another (up to 14 days)
Liability for damage or bodily injury caused when driving a substitute vehicle while your car is being repaired
Quality of repairs guaranteed by Westpac

Third Party Property Damage Car Insurance

Third Party Property Damage insurance is designed more to cover your liability for damage to other individuals’ property than your own vehicle. What you can expect to come under your policy includes the following:

Legal liability for damage to other people’s property caused by your car, up to $20 million
Supplementary bodily injury liability cover for up to $20 million
Liability for damage or bodily injury caused when driving a substitute vehicle while your vehicle is being repaired
Damage to your vehicle caused by an uninsured driver (up to $5,000)
Quality of repairs guaranteed by Westpac

Are there any optional extras available through Westpac?

Yes – Westpac offers the following optional extras on their Comprehensive Car Insurance policies:

Reasonable daily cost of a hire car for up to 30 days and $100 per day after another claimable incident until repairs are completed, your claim is settled or your period is extended (if Westpac is responsible for the delay)
No excess for claims relating solely to windscreen damage claims, with one replacement and two repairs per period of insurance
Cover for tools of trade, trade stock or materials which are damaged or stolen after forcible and violent entry into a locked vehicle or toolbox, affixed to your car permanently or in a motor collision (up to $3,000)

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

Hire car cover for up to 30 days: through both its standard cover after theft and optional cover after another included incident, you can receive hire car cover for a period as long as 30 days.
Generous tools of trade optional cover: if you decide to add cover for tools of trade to your Comprehensive Car Insurance policy, you can claim up to $3,000 in any one incident.
Online discount: as of July 2023, Westpac offers a discount enabling you to save up to 15% on the first year of Comprehensive Car Insurance premiums if you buy your policy online and are an eligible safe driver.

No third party fire and theft policies: Westpac’s Third Party Fire and Theft cover is no longer available for purchase, although you can continue to renew it if you purchased it before it was discontinued.
No roadside assistance: you aren’t able to purchase roadside assistance directly through Westpac, instead having to do so through Allianz or another provider.

Common questions about Westpac car insurance

Can I insure my car for market or agreed value through Westpac?

Yes – you’ll have the option to select whether to cover your vehicle under a market or agreed value arrangement in the event it’s declared a total loss. Agreed value cover, which is generally taken out to provide a payout greater than your car’s market value, tends to cost more.

Does Westpac allow me to choose my repairer?

Yes – provided they meet Westpac’s terms and conditions surrounding repairers, you’ll have the option to choose your own when taking out car insurance.

In what states does Westpac offer car insurance in Australia?

Westpac offers car insurance in all Australian states and territories.

How do I make a claim on my Westpac car insurance policy?

Westpac’s claims process is conducted via Allianz, with whom you can submit your claim either online or over the phone.

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Savvy (ABN 78 660 493 194, ACR 541 339) provides readers with a variety of car insurance policies to compare. Savvy earns a commission from our partnered insurers each time a customer buys a car insurance policy via our website. All purchases are conducted via our partners’ websites. The integrity of our comparison service is unaffected by our partnerships with those businesses and our effort remains to bring further brands that do not already use our comparison service onboard.

Savvy’s comparison service includes selected products from a panel of trusted insurers and does not compare all products in the market. Any advice presented above or on other pages is general in nature and doesn’t consider your personal or business objectives, needs or finances. It’s always important to consider whether advice is suitable for you before purchasing an insurance policy. We always recommend readers to consult the Product Disclosure Statement (PDS) of different policies before purchasing your car insurance.

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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.

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1300 974 066

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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.