RACV Single Item InsurancePRODUCT DISCLOSURE STATEMENTRACV Single Item Insurance is issued by Insurance AustraliaLimited ABN 11 000 016 722 AFS Licence No. 227 681.0

RACV Single Item InsuranceProduct Disclosure StatementRACV Single Item Insurance is issued by InsuranceAustralia Limited ABN 11 000 016 722 AFS Licence No.227681.Got a question? You can contact Us on:Website: V Single Item Insurance is about making insuranceclear and simple with choices that are right for You. ThisProduct Disclosure Statement (‘PDS’) tells You about theinsurance cover for Your items in Your Home and whenYou take them anywhere in Australia. It explains Yourcover, what happens in the event of a claim, and whatYou need to do when You insure with Us.From time to time We will need to update this PDS. If theupdate results in a material change from the PDS Youhold, we will send You another PDS or a supplementaryPDS. You may request a copy of the PDS free of charge atany time by contacting Us.It’s important You read about Your cover so You choosethe insurance that suits Your needs.Your cover – Your choiceEveryone wants to protect different things. RACV SingleItem Insurance can be tailored to meet Your needs and tocover Your contents in a way, and for a price, that suitsYou. You can choose to insure these items when they arein Your Home, or in certain situations if You leave Homewith them.IMPORTANT INFORMATIONLimitations in coverIt is important that You read the PDS and Your Certificateto ensure that You understand what this Policy does anddoes not cover.RACV Single Item Insurance provides cover only inrelation to loss or damage caused by certain Listed Eventsas set out in the ‘Listed Events Cover’.Who Your Policy coversYour Policy covers You being the Policy Owner and anyother person who is named on the Certificate as aninsured.If more than one person is named on the Certificate, Wetreat any statement, act, omission or claim by any ofthese people as a statement, act, omission or claim by allof these people.What being a Policy Owner meansThe Policy Owner is the person who will act on behalf ofall people covered by the Policy. The Policy Owner canchange or cancel this Policy, and is the only person Wewill send notices or other Policy information to. Any claimpayments will be made to the Policy Owner.What Your Policy coversRACV Single Item Insurance covers items of NominatedProperty in Your Home for loss or damage caused byListed Events.If You want cover for items of Nominated Property awayfrom Your Home (the Location shown on the Certificate),You can take out the Optional Extras of ‘Theft coveranywhere in Australia’ and/or ‘Accidental Damage’.Embargoes and special Policy conditionsYou will not be covered for any loss or damage arisingdirectly or indirectly from Storm, fire or Flood for the first72 hours (or any longer period noted on the Certificate asthe ‘Embargo period’) from the start of the Period ofInsurance or from when You increase a sum insured orcover under the Policy unless:a) You have just bought the item of Nominated Propertyand the insurance is effective from the purchasedate; orb) Your Policy replaced another policy covering theNominated Property and there has been no break incover.Your Certificate will also show any other specialconditions that apply to Your Policy.RACV Single Item Insurance also only provides cover forthe items of property that You have chosen to insure andare listed in the Certificate as the ‘nominated property’.Your sum insuredYou must choose the amount You want to insure Youritems of Nominated Property for. The amount for whichYou have insured Your items of Nominated Property iscalled the ‘sum insured’ and will be shown on theCertificate.RACV Single Item Insurance does not provide any coverfor any legal liability incurred by You.We pay up to the sum insured shown on the Certificatefor each of Your items of Nominated Property.1

It’s important that You insure Your Nominated Propertyfor its full new replacement value, including GST.General Insurance Code of PracticeThe purpose of the General Insurance Code of Practice(the Code) is to raise the standards of practice and servicein the general insurance industry. The objectives of theCode are:a) to commit Us to high standards of service;b) to promote better, more informed relations betweenUs and You;c) to maintain and promote trust and confidence in thegeneral insurance industry;d) to provide fair and effective mechanisms for theresolution of complaints and disputes between Usand You; ande) to promote continuous improvement of the generalinsurance industry through education and training.We have adopted the Code and are committed tocomplying with it. Learn more about the Code or contact Us.Things You need to tell UsYou must advise Us if there is any change relating to theNominated Property or the nature of the risk including ifYour Home will be unoccupied for more than 60consecutive days. We may cancel or change the terms ofYour Policy if Your circumstances change.Changes to Your PolicyIf You wish to change any details of Your Policy You mustcontact Us at If We accept thechanges, We will provide You with an updatedCertificate that will confirm the change and advise Youof any additional Premium payable for such change. IfYou do not pay the extra Premium You may not becovered in the event of a claim. If the changes reduceYour Premium, We will refund the amount owing to You.We will tell You if We can’t accept the changes and why.PremiumIf We accept Your application for this insurance, You mustpay the Premium shown on the Certificate for this Policy.How We calculate Your PremiumWe determine Your Premium by considering a number offactors including but not limited to the location of YourHome and the type and amount of cover You require.Factors that increase the risk to Us generally increase thePremium (e.g. higher sum insured) and those that lowerthe risk generally reduce the Premium (e.g. lower suminsured). If You have any queries about this, You can askUs.Your Premium also includes amounts that take intoaccount Our obligation (actual or in some casesestimated) to pay any relevant compulsory governmentcharges, taxes or levies (e.g. stamp duty and GST).Your Premium amount together with the amount of allindividual charges, taxes or levies will be shown on theCertificate.Paying Your PremiumYou can pay Your Premium annually or by monthly,fortnightly or weekly instalments.If You pay Your Premium by instalments:a) You must pay Your Premium instalment by the duedate;b) and Your financial institution declines Our directdebit request, You may be charged a dishonour fee;c) an instalment is considered unpaid if it isdishonoured, rejected, not received or We areotherwise unable to deduct it from the nominatedpayment card or account;d) and You do not pay the first instalment by the duedate, then We will give You written notice to cancelYour policy in accordance with the InsuranceContracts Act 1984 (Cth);e) if any instalment other than the first instalment isunpaid:i. for one month after its due date, Your Policy will beautomatically cancelled at the end of that onemonth period; andii. for 14 days or more after its due date, We willrefuse a claim for any loss or damage that occurs14 days or more after the due date; andf) if We offer to renew Your insurance, You must paythe renewal Premium instalment by the due date setout in the Certificate provided. If You do not pay thisrenewal Premium instalment, Your Policy will end.If You pay by annual Premium:a) You must pay your premium by the due date shownon your Certificate;b) if We offer to renew Your insurance, You must paythe renewal Premium by the due date set out on theCertificate provided. If You do not pay the renewalPremium, Your Policy will end.2

Unpaid premiumsIf You pay Your Premium by instalments, then before Wepay any claim We will deduct:a) any Premiums that are due but haven’t been paid;andb) all upcoming Premium instalments between the dateof the claim and the end of your Period of Insurance.Renewing Your PolicyTo ensure that Your Policy provides continuousprotection, at least 14 days prior to expiry of Your PolicyWe will tell You whether We are prepared to offer Yourenewal of Your Policy and, if so, on what terms. If Weoffer to renew Your Policy We will provide You withdetails of the Premium and excess for the renewal periodand any changes to the terms of the Policy.If You wish to renew Your Policy and We have offeredthis, We do not require You to do anything as We willdeduct / charge the renewal Premium from Yournominated account / payment card. If You do not wish torenew Your Policy You must contact Us prior to therenewal date and advise Us of this.If You receive a renewal offer from Us, You must check allof the information and tell Us if any of the information isincorrect or incomplete. If You do not tell Us, We mayreduce or refuse to pay a claim.If We will not offer to renew Your Policy, We will tell Youat least 14 days prior to Your Policy expiring.ExcessYour excess is the amount You must contribute towardseach item of Nominated Property You make a claim forunder this Policy. If You make a claim, You will have to paythe excess(es) that applies to Us or a repairer or supplier.We will tell You who to pay the excess(es) to.We will advise You of the amount of the excess(es) at thetime of Your application for Your Policy and Yourexcess(es) will be shown on the Certificate.The excess will vary depending on the type of NominatedProperty insured. The amount of the applicable excesswill be shown on Your current Certificate. You cannot payto remove an excess.Cooling off and cancelling Your PolicyYou have 21 days (the ‘cooling off’ period) after Youpurchase this Policy to change Your mind and tell Us thatYou want to cancel the Policy. We will refund YourPremium so long as You have not made a claim.You may cancel Your Policy at any time by contacting Us.Your cancellation will be effective from the date Yourequest the cancellation or a later date You request. IfYou are paying by instalment, We will not charge You anyfurther instalments from the time You cancel Your Policy,but We will not refund any instalment Premiums alreadypaid. You will also be required to pay any Premiumamount outstanding at the time of cancellation. If Youhave paid Your Premium by annual payment, We willrefund Your Premium for the period after cancellation.We may only cancel Your Policy in accordance with theInsurance Contracts Act 1984 (Cth) including but notlimited to if You do not comply with Your Policy terms andconditions. If We cancel Your Policy, We will inform Youin writing and refund Your Premium for the period aftercancellation.Goods & Services Tax (GST)All the benefits listed in this Policy include GST. If We cashsettle Your claim, Our claim payment will be based on aGST inclusive cost. However, if You are or would beentitled to claim any input tax credits for Your NominatedProperty, We will reduce any claim by the amount of suchinput tax credits. If You are entitled to any input taxcredit, You must tell Us the extent of Your entitlement.All dollar values described in this PDS include GST and arein Australian dollars.Questions or concerns?If there is anything about Our products and services Youneed to know, or if You are unsure or concerned aboutsomething, We will do Our best to sort it out. Find theanswers to the most common questions at OurFrequently Asked Questions (FAQs). It’s quick andavailable 24/7. Or Email us and we’ll respond to Yourquery within two business .au/contactComplaintsDetails of Our complaints process are set out on Ourwebsite at understand that occasionally issues may arise andYou may have a complaint. We take complaints seriouslyand have a process through which We seek to resolvethem.3

We will try to resolve Your complaint through the processoutlined below and aim to work within the giventimeframes to resolve the complaint.We will only use Your information for the purposes forwhich it was collected, other related purposes or aspermitted or required by law.If Your complaint is not resolved within 45 days, You maywish to access external review options such as theFinancial Ombudsman Service Australia (FOS).You may choose not to give Us Your information, but thismay affect Our ability to provide You with insurancecover. We may share this information with companieswithin Our group, government and law enforcementbodies if required by law and other parties who provideservices to Us or on Our behalf, some of which may belocated outside of Australia. Other parties may includeexternal investigators and/or any third party that Youprovide Us with information to assist Us in considering aclaim made under this Policy.1. Please contact UsThe first thing You should do is contact Us with Yourconcerns. A consultant may be able to resolve thecomplaint for You. If not, they will refer You to, or Youmay request to speak to a manager. If We require moreinformation We will aim to respond within 15 businessdays of receipt of Your Contact Customer RelationsIf the manager cannot resolve Your complaint, You mayrequest the matter be referred to Our CustomerRelations area or You can choose to contact them via thefollowing options:Phone:Email:Post:1800 045 [email protected] Paid 62759, Sydney NSW 20003. Seek an external reviewIf You are unhappy with the decision, You may wish toseek an external review. Customer Relations will provideYou with information on external review options, such asreferring You to the Financial Ombudsman ServiceAustralia (FOS):Phone:Website:Email:Post:1800 367 [email protected] Box 3, Melbourne, VIC 3000PrivacyWe use information provided by You to allow Us to offerOur products and services. This means that We may needto collect Your personal information, and sometimessensitive information about You as well.We will collect this information directly from You wherepossible, but there may be occasions when We collectthis information from someone else.For more details on how We collect, store, use anddisclose Your information, please read Our Privacy Policylocated at applying, using or renewing any of Our products orservices, or by providing Us with Your information, Youagree to this information being collected, held, used anddisclosed as set out in the Privacy Policy. Our PrivacyPolicy also contains information about how You canaccess and seek correction of Your information, complainabout a breach of the privacy law and how We deal withYour complaints.Financial Claims SchemeYou may be entitled to payment under the FinancialClaims Scheme in the event that Insurance AustraliaLimited becomes insolvent. Access to the scheme issubject to eligibility criteria. Information about thescheme can be obtained from and excess payment examplesThe following examples are designed to show how a claimpayment might be calculated and what amount You maybe required to pay. These are examples only, they do notcover all scenarios or benefits and do not form part of thePolicy terms and conditions.Claim example 1 – loss or damage to Nominated Property– replacement and repairYou insure a number of items as Nominated Propertyincluding a refrigerator with a sum insured of 2,000, alaptop with a sum insured of 3,500, a television with asum insured of 2,000 and a microwave with a suminsured of 450. An excess of 50 individually applies tothe refrigerator, the television and the microwave. Anexcess of 150 applies to the laptop.4

Your laptop, television and microwave are stolen andYour refrigerator is damaged when the burglars attemptto steal it during a burglary at Your Home. We accept Yourclaim and assess the cost to repair the refrigerator to be 500.A supplier confirms that the laptop can be replaced witha similar laptop for 3,500, the television can be replacedwith a similar television for 2,000 and the microwavecan be replaced by the same model microwave for 400.We arrange for a repairer to repair the refrigerator, andthe supplier to replace Your laptop for 3,500, televisionfor 2,000 and microwave with the same model for 400.We pay the repairer 500 to repair the refrigerator andpay the supplier 5,900 to supply the laptop, televisionand microwave. You would pay Us 300 representing the 50 excess for each of the refrigerator, the television andmicrowave and 150 excess for the laptop.Claim example 2 – loss or damage to Nominated Property– replacementYou insure a number of items as Nominated Propertyincluding a television with a sum insured of 1,900. Anexcess of 50 applies to the television.Your television is destroyed in a fire at Your Home. Weaccept Your claim and You agree to accept a store creditin settlement of the claim. We provide you with a storecredit for 1,850. The applicable excess of 50 has beendeducted from the store credit.Claim example 3 – loss or damage to Nominated Property– away from Your HomeYou insure a number of items as Nominated Propertyincluding a television with a sum insured of 1,500, alaptop with a sum insured of 3,000 and a microwavewith a sum insured of 450. Your Home (the Locationshown on Your Certificate) is Your room at the universitycollege where You live during semester time. No OptionalExtras are listed on Your Certificate. An excess of 50individually applies to the television and the microwave.An excess of 150 applies to the laptop.Your laptop is stolen from Your locked parents’ housewhile You are staying with them during universityholidays. You report the theft to the police.You are not covered under this policy as the laptop wasnot at Your Home (the Location listed on the Certificate)at the time of the theft and therefore We will not acceptYour claim and no amount is payable to You in relation tothe laptop.If you had ‘Theft cover anywhere in Australia’ listed onYour Certificate, the laptop would have been coveredunder this Optional Extra while away from Your universityroom. If you had the ‘Theft cover anywhere in Australia’listed on Your Certificate and We accepted Your claim,We would have:a) replaced the laptop with a laptop of the same orsimilar type and quality and You would have paid Usthe 150 excess; orb) paid You a cash settlement of the amount it wouldcost Us to replace the laptop with a laptop of thesame or similar type and quality less the 150 excess.Summary of coverWe cover Your items of Nominated Property for loss ordamage occurring at Your Home during the Period ofInsurance directly caused by any of the Listed Events.You can increase Your cover by adding the optional extra‘Theft cover anywhere in Australia’ or ‘AccidentalDamage’ for certain items of Nominated Property.Comparison – what ‘Listed Events’ are covered and whatare notHere is a comparison table showing which events are andare not covered under RACV Single Item Insurance. Youare covered for the events ‘ticked’ and You are notcovered for events ‘crossed’. Optional extras are alsoavailable.To be covered for an optional extra event, You need tochoose the optional extra and pay an additional Premium.If You are covered for the optional extra, it will be listedon Your Certificate.EventsStormFloodFireTheft or attempted theftTheft cover anywhere inAustraliaAccidental loss or damageEarthquakeExplosionBroken glass or sanitary unitsImpact damageAnimal damageRiot or civil commotionLightningWater and oil leaksCover * see the PDS for anexplanation of the cover Optional Extra - unless Optional Extra of‘Accidental Damage’ taken 5

LISTED EVENTS COVERWe will cover the Nominated Property for loss or damageoccurring at Your Home during the Period of Insurancedirectly caused by any of the Listed Events.Event – what is coveredStorm being violent wind,cyclone, tornado,thunderstorm, hail, rain,snow or dust but notpersistent rain only.What is not coveredLoss or damage caused bywater that enters throughany tarpaulins or fixings setup while You arerenovating/altering YourHome.Loss or damage caused by‘Storm surge’ being anabnormal increase in sealevel caused by a cyclone orsevere Storm.Flood means the coveringof normally dry land bywater that has escaped orbeen released from thenormal confines of any ofthe following:a) a lake (whether or notit has been altered ormodified);b) a river (whether or notit has been altered ormodified);c) a creek (whether or notit has been altered ormodified);d) another naturalwatercourse (whetheror not it has beenaltered or modified);e) a reservoir;f) a canal;g) a dam.FireLoss or damage if the firewas started with theintention to cause damageby:a) You or someone wholives in Your Home; orb) someone who enters theHome or the location ofthe Home with Yourconsent or the consentof someone living there.Loss or damage from smoke,scorching and melting if theHome or contents did notcatch on fire.Theft or attempted theftfrom a secure buildingprovided that:a) the burglar gains entryto the building bycausing physicaldamage to the buildingat the point of entryand evidence of thedamage can clearly beseen; andb) the theft or attemptedtheft is reported to thepolice; andc) if the property haslocation trackingcapabilities, thecapabilities must beactivated at the time oftheft or attemptedtheft.Theft or attempted theft by:d) You or someone wholives in Your Home; ore) someone who enters theHome or location of theHome with Your consentor the consent ofsomeone living there.OPTIONAL EXTRASTheft cover anywhere in AustraliaIf ‘Theft cover anywhere in Australia’ is shown on theCertificate, We will cover Your items of NominatedProperty listed on the Certificate as covered for ‘Theftcover anywhere in Australia’ for loss or damage occurringanywhere in Australia during the period of insurancedirectly caused by theft provided that the theft orattempted theft:a) occurs while the item of Nominated Property is inYour sight and is in close proximity to You and Youobserve the theft of the item; orb) occurs while the item of Nominated Property is in asecurely locked building or vehicle, and providedthat:i. the theft or attempted theft is reported to thepolice; andii. if the item of Nominated Property has locationtracking capabilities, these are activated at thetime of the theft or attempted theft.You are not covered under this optional extra for:a) loss or damage caused by any event other than theft;b) loss or damage to any item left unattended;c) theft or attempted theft by:i. You or someone who lives in Your Home; orii. someone who enters the Home or the Locationwith Your consent or the consent of someone livingat the Home or the Location.Not all items of Nominated Property can have the ‘Theftcover anywhere in Australia’ optional extra added.6

When You apply for this insurance, You will be advisedwhether the option is available for a specific item ofNominated Property. If the ‘Theft anywhere in Australia’optional extra is available for the particular item ofNominated Property and You elect to take this optionalextra for the item, the item of Nominated Property willbe listed on the Certificate as covered for ‘Theft coveranywhere in Australia.All other terms, conditions and exclusions of this Policyshall apply to this optional extra.Accidental DamageIf ‘Accidental Damage’ cover is shown on the Certificate,in addition to the ‘Listed Events cover’ We will also coverYour items of Nominated Property listed on theCertificate as covered for ‘Accidental Damage’ forAccidental Damage occurring anywhere in Australiaduring the Period of Insurance.All other terms, conditions and exclusions of this Policyshall apply to this optional extra.You are not covered under this optional extra for loss ordamage:a) that is covered under another policy of insurance butonly to the extent permitted by law; orb) failure of any items which reach the end of theirfunctional life; orc) caused because the building in which the item waskept was not in good condition.Where Your items of Nominated Property are coveredYour items of Nominated Property are covered for loss ordamage caused by a Listed Event while the items ofNominated Property are in Your Home.If You choose the optional extra cover for ‘Theft coveranywhere in Australia’, Your items of NominatedProperty shown on the Certificate as covered for ‘Theftcover anywhere in Australia’ will be covered against lossor damage caused by theft anywhere in Australia.If You choose the optional extra cover for ‘AccidentalDamage’, Your items of Nominated Property shown onthe Certificate as covered for ‘Accidental Damage’ will becovered against accidental damage occurring anywherein Australia.How We will pay Your claim and what We will payIf We agree to cover Your claim for loss or damage toNominated Property under this Policy, We will (at Ouroption):a) repair the item of Nominated Property;b) replace the item of Nominated Property – if an itemWe agree to replace is no longer available, We willreplace it with an item the same or of similar type andquality;c) pay You a cash settlement of the amount it wouldcost Us to repair or replace the item of NominatedProperty;d) provide You with a store voucher, store credit orstored value card to replace the item of NominatedProperty (if You agree); ore) pay You the sum insured for the item of NominatedProperty.You must pay the excess that applies to each item ofNominated Property You claim for under any section ofthis Policy.The maximum amount We will pay for any item ofNominated Property in any claim is the sum insured forthat item, which is stated on Your Certificate.If We agree to pay You a cash settlement to replace anitem of Nominated Property under a claim, the full annualPremium for that item is payable by You prior tosettlement if it has not already been paid in full (or will bededucted by Us from any cash settlement) and the coverfor that item will come to an end.If We arrange a replacement for an item of NominatedProperty or You replace it following receipt of a cashsettlement, the replacement item will not be insuredunder this Policy. You will need to arrange insurancecover for this new item if required.General exclusions – what is not covered under thisPolicyYou will not be covered for any loss, damage or any costsarising directly or indirectly from or in any way connectedwith any of the following:a) explosion, provided that this exclusion will not applyto the optional extra cover ‘Accidental Damage’;b) lightning or thunderbolt, provided that this exclusionwill not apply to the optional extra cover ‘AccidentalDamage’;c) earthquake, provided that this exclusion will notapply to the optional extra cover ‘AccidentalDamage’;d) a deliberate or intentional act;e) bursting, leaking, discharging or overflowing of fixedapparatus, fixed tanks or fixed pipes used to hold orcarry liquid of any kind, provided that this exclusionwill not apply to the optional extra cover ‘AccidentalDamage’;7

f)g)h)i)j)k)l)m)n)o)p)q)r)s)t)u)v)riot or civil commotion, provided that this exclusionwill not apply to the optional extra cover ‘AccidentalDamage’;action of a person acting maliciously;impact by or to any object, provided that thisexclusion will not apply to the optional extra cover‘Accidental Damage’;action of the sea, high water, tsunami, erosion,landslide or subsidence;if Your Home is unoccupied for longer than 60consecutive days unless We have agreed to providecover during this period;accidental breakage of glass forming part of an itemof furniture, provided that this exclusion will notapply to the optional extra cover ‘AccidentalDamage’;legal liability;any event other than the events listed in the ‘ListedEvents Cover’ or ‘Optional extra – Theft coveranywhere in Australia’ if ‘Theft cover anywhere inAustralia’ is shown on the Certificate or ‘Optionalextra - Accidental Damage’ if ‘Accidental Damage’ isshown on the Certificate;rust, corrosion, gradual deterioration, depreciation,wear and tear;the action of insects or vermin;mechanical, electrical or electronic breakdown,failure or malfunction of any item;any use of Nominated Property for any business,trade or profession;any building work, repairs, renovation or alteration toYour Home or at the location of Your Home shownwhere the value of the work exceeds 25,000;loss or damage which did not occur during the periodof insurance;the lawful seizure or repossession of nominatedproperty;war, invasion, acts of foreign enemies, hostilities orwar-like operations (whether war be declared or not),mutiny, civil commotion assuming the proportions ofor amounting to an uprising, military rising,insurrection, rebellion, revolution, military orusurped power;the actual or threatened existence or operation ofnuclear, chemical or biological weapons or nuclearfuel, waste or materials, actual or threatenedcontamination or pollution from such agents, ionisingradiation, the combustion, detonation, fission orfusion of nuclear fuel or nuclear materials, or actiontaken by a public authority or anyone authorised bysuch authority to prevent, limit or remedy suchthreat, operation, pollution or contamination;w) any Act of Terrorism regardless of any othercontributing cause or event or any action taken incontrolling, preventing, suppressing, retaliatingagainst or in any way responding to or relating to anAct of Terrorism regardless of any other contributingcause or event.x) direct or indirect exposure to radiation orcontamination by radioactivity from any nuclear fuel,nuclear waste or nuclear material;y) any asbestos or products containing asbestos;z) consequential loss of any k

Website: Contact: RACV Single Item Insurance is about making insurance clear and simple with choices that are right for You. This Product Disclosure Statement ('PDS') tells You about the insurance cover for Your items in Your Home and when