Retirease Car Insurance

Why consider Retirease Car Insurance

If you’re considering a Retirease Car Insurance policy, here are just a few of the benefits you can expect.

• ​​Affordable Car Insurance for Retirees. Retirease giv​es ​​​d​​iscounts for restricting the policy to older drivers and lower premiums for driving limited kilometres per year ​​(in other words, drivers who are older than 55 and not gainfully employed or looking for work).^{2Retirease – Car Insurance}
• 24/7 Roadside Assistance (optional). You can include 24/7 roadside assistance in any Retirease Car Insurance policy for an additional cost.^{3As above}
• ​​​​​​New ​Car Replacement. New or demo cars are eligible for replacement if they’re deemed a total loss.^{4Retirease – Product Disclosure Statement Part A, p9}
• Lifetime Repair Guarantee. Repairs authorised by Retirease are backed by a lifetime guarantee​ for as long as you own the car​.^{5Retirease – Car Insurance}

What types of Car Insurance does Retirease offer?

Retirease provides three types of Car Insurance: Comprehensive, Third Party Property, Fire and Theft, and Third Party Property​ Only​. However, the company’s Comprehensive Cover is its most popular, given it obviously provides the most extensive coverage.

Here’s what’s on offer:

• Comprehensive Car Insurance. Retirease Comprehensive Car Insurance provides a​ broad​​​​​ range of coverage. It covers both your car and other peoples’ cars if you’re at fault in an accident, and it protects against theft, fire and malicious damage.^{6As above}
• Third Party Property​, Fire and Theft ​ Insurance. Retirease Third Party Property​ Fire and Theft ​Insurance ​​​​covers the same as Third Party Property Only cover, but with the added benefit of cover if your own vehicle is damaged or destroyed by fire or theft.⁷Retirease – Product Disclosure Statement Part A, p11 
• Third Party Property​ Only​ Insurance. Retirease Third Party Property​ Only ​Insurance ​covers damage to someone else’s car or property if you’re the one responsible in an accident, as well as some coverage if your car is damaged by another uninsured vehicle.^{8As above}

If you opt for Retirease Comprehensive Car Insurance, you can also add a few extra ​options ​to your policy:

• Accident Hire Car. As a standard feature of its Comprehensive Car Insurance, Retirease will provide you with a hire car if you’re not at fault or if your car is stolen. However, with this option, you can access a hire car even if you’re the one responsible in an accident.^{9As above, p8} 
• Reduced Window Glass Excess. You can reduce the amount of Excess you pay if ​any​ window glass (excluding sunroof)​ is damaged.^{10Retirease – Car Insurance Premium, Excess and Discount Guide, p5}
• Choice of Repairer. By adding this to your policy, you ​may choose to nominate ​your ​preferred​ repairer.^{11Retirease – Product Disclosure Statement Part A, p24}

Benefits of insuring your car with Retirease

Curious about what you can access with Retirease Car Insurance? Here’s a bit more about the benefits provided to policyholders.

Discounts for Older and Occasional Drivers

Because Retirease is a dedicated insurance provider for Australian retirees, the company offers ​​​​​​​​​​​savings​​​​​ ​for​ older drivers and those who drive limited kilometres each year. When you take out a Car Insurance policy with Retirease, you have the option to restrict your policy to older drivers. Doing so provides you with a special discount on your policy.^{12Retirease – Car Insurance}

As part of the quote process, you’ll also be asked how many kilometres you drive every year. If you only drive your car occasionally, you may have access to lower premiums.^{13As above}

Optional 24/7 Roadside Assistance

Whether you choose Comprehensive or Third Party Property ​Only ​Insurance through Retirease, you have the choice to add 24/7 Roadside Assistance to your policy.

​​Retirease’s Roadside Assistance provides unlimited callouts every year if you break down, run out of ​fuel, or get a flat battery. It also offers towing if you break down, emergency key assistance, emergency fuel supply, tyre changes, and ​unlimited access to technical phone assistance.​^{14Retirease – Roadside Assistance Terms & Conditions}

​​New​ Car Replacement

Retirease’s ​new​ Car Replacement benefit is part of its Comprehensive Car Insurance offering.

If you buy a new or demo car and it becomes a total loss (that is, the cost of fixing it is likely to be higher than the amount covered by insurance) within the first year or ​20​,000 kilometres​ (whichever comes first)​, Retirease will replace it with one that’s an identical make, model and specification.^{15Retirease – Product Disclosure Statement Part A, p9} Retirease will also cover the first 12 months of rego and Compulsory Third Party (CTP) insurance on your replacement car.^{16As above}

Backed by confidence

Retirease is underwritten by Australian insurance company, Auto & General Insurance Company Limited.^{17About Us – Retirease Insurance} Auto & General Insurance Company Limited is also regulated by APRA and an Insurance Council of Australia member.

How do Excesses work with Retirease?

If you make a claim with Retirease, you could be up for a payment known as an Excess. This is a standard part of most Car Insurance policies and refers to the amount you need to pay in the event of a claim.

However, if you have a Retirease Insurance policy, the Excess you pay can vary depending on different factors. Here’s what you can expect:

• Basic Excess. All claims are subject to Basic Excess (except where the Excess is waived – see below). When you first receive your Retirease Car Insurance quote, you’ll also get an indication of how much your Basic Excess will be. You can lessen or increase your Basic Excess by paying a higher or lower premium.
• ​​Additional Excess. On top of your Basic Excess, you may be charged Additional Excesses if the driver of the car at the time of the incident was not listed on your policy, under 25 years old, or had​ not​ held their full or open Australian licence ​for two ​or more ​years. Retirease may also apply other Additional Excesses if you haven’t met the conditions of your policy​ for example a non-retired driver excess​. Note that multiple Additional Excesses can be applied in a single claim.
• Reduced Window Glass Excess. If you’ve added this to your policy, the Excess for window glass ​claims ​is reduced to $40.^{18Retirease – Car Insurance Premium, Excess and Discount Guide, p4}

It’s also worth noting that if you’re deemed not at fault, you may have your Excess waived.

How do I make a claim?

Making a claim with Retirease is easy. The company provides a phone service where policyholders can chat with one of Retirease’s consultants. If you’re a Retirease member, you can call a dedicated claims hotline on 1300 304 345 to initiate your claim.

Payments

As a Retirease policyholder, you have several payment options.

You can pay for your insurance annually, monthly or fortnightly, depending on the payment schedule that suits your needs. However, the annual option generally provides the best value and can decrease your overall costs.​​​​​​​

How do I take out a policy with Retirease?

Taking out a Car Insurance policy is pretty straight-forward. You’ll be asked for some basic information about yourself, your vehicle, how you use it and your previous insurance policies.  And remember, iSelect can take care of the whole process for you!

How can I compare Retirease Car Insurance policies?

If you’re tossing up between different Retirease Car Insurance policies, iSelect can help.

Use our online comparison tool to see what benefits each Retirease policy offers, how much each one costs and how they compare to policies from other Car Insurance providers.* If you prefer to chat over the phone, you can also call us on 13 19 20.