BankSA Car Insurance

BankSA

In addition to offering banking and savings products, BankSA also provides a range of insurance products such as car insurance, home insurance and travel insurance.

What types of car insurance does BankSA offer?

BankSA offers comprehensive and third party property damage car insurance.

BankSA says its comprehensive car insurance includes cover for accidental loss of or damage to your vehicle, as well as liability cover – that is, if you damage someone else’s property with your car and it is partly or fully your fault. It also allows you to choose your own repairer and covers the cost of emergency repairs after a covered accident (up to $500).

BankSA’s third party property damage car insurance provides liability cover if you cause damage to someone else’s vehicle or property. It also covers related legal costs, BankSA says.

Canstar does not currently compare BankSA car insurance but you can compare other car insurance providers on our database.

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What additional features does BankSA offer on its car insurance products?

BankSA’s comprehensive policy additionally includes new car replacement if your vehicle (up to two years old) is a total loss, 30-day car rental after theft (up to $100 per day for up to 30 days) and cover for personal effects and clothing that are damaged in an accident or stolen from your locked vehicle (up to $1,000).

You can also add optional benefits such as rental car after an accident (up to $100 per day for up to 30 days), removal of basic excess for windscreen claims (one replacement claim and two repairs) and cover for tools of trade (up to $3,000 for one incident). You may need to pay an additional premium if you choose to add optional extras to your cover. Read BankSA’s product disclosure statement (PDS) for more information including the terms and conditions that apply.

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BankSA car insurance FAQs

BankSA allows you to choose between either an agreed value or market value, depending on the type of insurance cover you choose. If you’re not sure which one would be best for your vehicle specifically, here’s an article which explains the difference between market value and agreed value.

First, consider comparing car insurance policies with Canstar to find a product that suits your needs.

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After comparing your options, if you choose to go with BankSA, you can get a car insurance quote through its website or over the phone.

BankSA allows you to nominate a higher or lower basic excess, within a range determined by BankSA. Your excess may affect the cost of your insurance premiums – a higher excess will typically result in a lower premium, while a lower excess will typically result in a higher premium.

You can lodge a claim online or or over the phone. It may be helpful to have details of the incident on hand, such as information regarding any other drivers involved, if applicable.

Consider comparing car insurance policies before simply renewing the same policy, so that you continue to get the cover you need as well as value for money.

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BankSA says you will receive a renewal notice at least 14 days prior to the expiry date of the period of insurance advising whether it will renew your policy or not. This letter will also set out the renewal terms, including the new premium and excess. If BankSA does not hear from you by the expiry date, it says it will automatically renew the policy on the terms proposed and will deduct the premium amount from your nominated bank account or credit card.

BankSA was established in 1848 when the bank’s sole employee opened the doors in Adelaide. Since 2008, BankSA has been a division of Westpac Banking Corporation.

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Written by: Tamika Seeto | Last updated: March 5, 2020