RENTER S FORCED MOVING INSURANCE PRODUCT DISCLOSURE STATEMENT PART 2

Transcription

1 RENTER S FORCED MOVING INSURANCE PRODUCT DISCLOSURE STATEMENT PART 2 INSURANCE COVER THIS DOCUMENT IS PART 2 OF A 2 PART PRODUCT DISCLOSURE STATEMENT (PDS). THIS PART 2 IS THE INSURANCE COVER DOCUMENT FOR RENTER S FORCED MOVING INSURANCE. PART 1 IS IMPORTANT INFORMATION FOR BINGLE PRODUCTS. PARTS 1 AND 2 ARE PROVIDED TO YOU AND MUST BE READ BY YOU TOGETHER AS THEY FORM THE PDS. PREPARATION DATE: 17 NOVEMBER 2015 as simple as it sounds

2 Contents About this Product Disclosure Statement and your policy...1 What s this cover all about?...1 Who is this cover for?...1 What reasons for moving are covered?...1 What reasons for moving aren t covered?...1 How much am I covered for?...2 Benefit limits...2 What s in and what s out?...3 Policy benefits...3 A bed for my head...3 Bond assist...3 Cash injection...3 Move & store my stuff...4 Transit & storage cover...4 Rent double-up...5 What s out?...5 Optional extras...6 When you need to claim...6 What can you claim for and how often?...6 Making a claim...6 We need you to keep us in the loop too...7 Excesses...7 If your claim s not covered (when it s a no can do)...7 How we settle your claim...7 Provision of services through our service providers...7 Claims under Bond assist...7 Transit & storage cover and Upsize transit & storage cover...7 We have the right to recover monies from those at fault...7 Words with special meanings...8 ii

3 About this Product Disclosure Statement and your policy This Product Disclosure Statement (or PDS for short) contains details of the cover provided under the Bingle Renter s Forced Moving Insurance product. If you purchase this product, your policy is made up of a few things. There s this Part 2 of the PDS, as well as Important Information - Part 1 of the PDS, any Supplementary PDS (SPDS) we may give you, and also your most recent insurance schedule that shows the details particular to your policy. You should read all these documents together as they tell you what your policy covers, what is excluded, how we settle your claim, and more. Also, some words used in this PDS have a special meaning so please read Words with special meanings on page 8 (below) and in Part 1 of the PDS. Throughout this PDS you ll be referred to a guide called the Renter s Forced Moving Insurance Premiums, Excesses & Claims Guide for further information. This Guide sheds some more light on how we determine your premium, whether any excesses apply if you make a claim, and how we pay claims. Take a look at it at bingle.com.au What s this cover all about? If you re a renter and notice is provided that requires you to permanently vacate your current rental property through no fault of your own, the cover provided by this insurance not only helps you to pay for your move, but can also give you a bit more time to find your new home. The benefits provided under this policy are: A bed for my head; Bond assist; Cash injection; Who is this cover for? This cover is for renters who have entered into, or who are a lawful sub-tenant under, a rental agreement for the purpose of occupying a rental property for residential purposes. This policy doesn t cover rental agreements for rental properties that: are in a dwelling and/or on the same title as the dwelling in which the landlord also lives; or are owned by or have a landlord that is a family member of yours, or someone else living in the rental property; or are not your primary place of residence; or are public housing. What reasons for moving are covered? This policy covers you when you are forced to permanently move from your current rental property through no fault of your own. For example, the landlord or agent gives you or the head-tenant a tenancy termination notice because your current rental property has been sold, the landlord has other intentions for it, or it has become wholly uninhabitable as a result of a structural fault. We ll cover you for incidents that have first become known to you during the period of cover. What reasons for moving aren t covered? There is no cover under this policy for the following incidents: You, or another tenant, giving notice to the landlord or agent, or having requested, that the tenancy is ended for any reason other than your current rental property becoming wholly or partly uninhabitable; or Move & store my stuff; Transit & storage cover; and Rent double-up. Any incidents arising from a natural disaster. However, we ll cover you when your rental property has become wholly or partly uninhabitable due to storm or hail damage not arising from a cyclone. Like all insurance policies, conditions, limits and exclusions apply. Please read the full PDS for details of the cover, including What s in and what s out on page 3 (below). 1

4 How much am I covered for? You have three different levels of cover to choose from. The choices are: The 1 Bedder; The 2 or 3 Bedder; or The 4 Bedder. Take a look at Benefit limits on this page 2 to see the benefit limits that apply to each level of cover. You can choose the level of cover that you want. For example, even if you are renting a one bedroom apartment you might want to choose The 2 or 3 Bedder level of cover because you have a lot of stuff you d have to move. Your insurance schedule shows the level of cover you have. Benefit limits A bed for my head Level of Cover The 1 Bedder The 2 or 3 Bedder The 4 Bedder Temporary accommodation for up to 28 consecutive nights Up to $150 per night Up to $200 per night Up to $250 per night Pet lodging Up to $500 in total for each incident Up to $500 in total for each incident Up to $500 in total for each incident Cash injection $250 $350 $500 Move & store my stuff Up to 2 storage crates Up to 4 storage crates Up to 5 storage crates Transit & storage cover Cover for replacement value of your stuff whilst it s in the storage crates Rent double-up Up to $10,000 per storage crate, maximum 2 storage crates Up to $10,000 per storage crate, maximum 4 storage crates Up to $10,000 per storage crate, maximum 5 storage crates Up to 2 weeks Up to $1,000 per week Up to $1,000 per week Up to $1,000 per week All $ values are inclusive of GST 2

5 What s in and what s out? Policy benefits When you have been forced to move as a result of an incident covered by this policy, we make all of the following benefits available to you when they are relevant to your situation. A bed for my head What s in? A bed for my head provides you with: Temporary accommodation If you haven t been able to organise the right to occupy your new place of residence as at the vacate date for your current rental property, then Bingle will arrange for you to have temporary accommodation through our service provider. The benefit commences from your vacate date and ceases at the earliest of either you having the right to occupy your new place of residence, or 28 consecutive nights. To receive benefits under temporary accommodation you must not organise the accommodation without Bingle agreeing first, unless the move has occurred because your current rental property has become wholly or partly uninhabitable. In this case you can organise up to 7 consecutive nights temporary accommodation yourself and we ll reimburse you for the fair and reasonable expenses you incurred. If all of our service provider s accommodation is fully booked (maybe there s an awesome party on in town?), then we ll still provide the same cover but you ll need to organise the accommodation yourself. Take a look at Provision of services through our service providers on page 7 (below) for more details. We ll pay up to the benefit limit based on your level of cover. Pet lodging Reimbursement of fair and reasonable expenses you incur for your pet(s) lodging in a commercial boarding establishment for any period we provide you with a temporary accommodation benefit. Bond assist The name is Bond, Bond assist. What s in and what s not? This benefit covers your scheduled repayments for up to 3 months on an approved loan from Suncorp Bank, if you have taken one out to help you manage payment of any bond and rent in advance for your new place of residence. Bingle will pay up to the first 3 months scheduled repayments due on the approved loan to Suncorp Bank. We ll also pay any early repayment fee due to Suncorp Bank if you repay the approved loan before the scheduled due date. We only provide these benefits when the initial principal of the approved loan is from $2,000 to $7,000 or such higher amount set out in your insurance schedule, and when the approved loan is a single loan that is taken out by you after you received notice to vacate your current rental property. We won t pay any scheduled repayments falling due more than six months past the vacate date for your current rental property. You having this policy doesn t give you any guarantee or undertaking that Suncorp Bank will provide you with an approved loan should you apply to take one out. If you don t take out an approved loan with Suncorp Bank you won t receive any benefits under Bond assist. Cash injection What s in? We want to help kick start your move into your new place of residence, so that s why we ll give you a cash payment to help you on your way. What you do with the money is up to you. The benefit is: A payment into your nominated bank account. The amount we pay is equal to the benefit limit based on your level of cover. The amount we pay is up to the benefit limit for your level of cover. 3

6 Move & store my stuff What s in and what s not? Move & store my stuff provides you with benefits to help you move and store your stuff. Sorry, but we couldn t think of a more exciting name for this benefit. The benefits are: Bingle will arrange through our service provider for you to have temporary use of storage crates to put your stuff in for moving and/or for storage, but only for use in conjunction with the rest of the benefits provided under Move & store my stuff. Despite our best efforts its possible that our service provider might not always be able to provide their service where you need it. Don t worry. If this happens we ll still cover you to organise similar benefits for yourself. Take a look at Provision of services through our service providers on page 7 (below) for more details. Transit & storage cover When we are providing you with benefits under Move & store my stuff on this page 4 we also provide you with Transit and storage cover which covers your stuff against certain types of loss or damage whilst it s in the storage crates. We ll cover provision of the storage crates to you from up to 2 days prior to your vacate date for your current rental property and until up to 2 days beyond the date you have the right to occupy your new place of residence. What loss and damage is covered? Cover is provided for loss or damage that happens to your stuff whilst it s in the storage crates. If you need to put your stuff somewhere whilst you re looking for a new place to live, we ll also arrange for storage of the storage crates in our service provider s secure storage facility for up to 4 consecutive weeks. During the time your crates are in storage, you might not have physical access to them. And we ll cover for the costs of our service provider moving the storage crates either: y once between your current rental property and the secure storage facility, and then once between the secure storage facility and your new place of residence, (or other drop off location you nominate); or y once directly from your current rental property to your new place of residence (or other drop off location you nominate). The number of storage crates you re provided with will be based on your level of cover. This policy doesn t provide any assistance for you to pack or unpack your stuff into and out of the storage crates; and We won t cover moving costs arising from your new place of residence (or other drop off location you nominate) being more than a 20km radius away from your current rental property. But we ll still cover the costs of getting your stuff that first 20km! Cover is for the replacement cost of your stuff, and is provided up to the benefit limit based on your level of cover. Items such as paintings, curios, works of art, professional equipment, collectibles, photography equipment and musical instruments are included in this cover, but only up to $1,000 per item and/or $5,000 in total (values include GST). We don t cover any loss or damage to your stuff that is caused by, or arises from, or involves: you or anyone else packing and unpacking your stuff into or out of the storage crates; the way your stuff was packed inside the storage crates; any deliberate or accidental act by you, your family member or acquaintance of yours, whether with your consent or not; your stuff being unsecured, in an open storage crate or exposed to nature, during the time the storage crate is in your care for you to pack it or unpack it; the normal functioning or malfunctioning of your stuff; wear, tear, rust, corrosion or deterioration of your stuff; and unexplained loss or damage. Transit & storage cover continues on page 5 (below). 4

7 Transit & storage cover continued from page 4 (above). What stuff isn t covered? We don t cover: What s out? We won t pay any benefits under this policy: any item the service provider didn t allow to be put inside the storage crates, in accordance with their terms and conditions; if notice has already been provided requiring you to vacate your current rental property, either in writing or verbally, at the time this policy starts; laptops, mobile or satellite phones, electronic tablets (e.g. ipads), personal digital assistants, GPS or navigational devices; if the rental agreement or sub-tenancy had originally been entered into with an explicit agreement or understanding of a known vacate date; currency, deeds, securities, money, notes, jewellery, watches, precious stones, gold, precious metals, furs or garments trimmed with fur; motor vehicles and motor cycles, whether registered or not; boats or watercraft or aircraft; any flammable liquid, gas or oil such as petrol, kerosene, LPG, aerosols, diesel fuel or engine oil, any corrosive chemicals or nitrates such as chlorine, sulphuric acid or fertiliser; tobacco, cigarettes, paint or tyres in bulk; and loss or damage to alcohol, wine or beer, due to it not being stored in a temperature, humidity and light controlled environment. Rent double-up for incidents which were first made known to you before or after your policy s period of cover; if we have previously provided benefits to you for a separate incident at the same rental property; if the reason for you, or another tenant, giving notice to the landlord or agent, or having requested, that the tenancy be ended is because it has become wholly or partly uninhabitable, but in our opinion your current rental property isn t wholly or partly uninhabitable; for consequential losses or extra costs following an incident your policy covers, unless: y we gave you written authority prior to incurring these costs, and we had agreed to reimburse you; or y the costs are covered under Policy benefits on page 3 (above). What s in and what s not? Often you ll be able to find your new place of residence within the notice period to vacate your current rental property. And if so it might also mean that you could be forced to pay double rent for a short time to cover both properties. The Rent double-up benefit reimburses you for the additional rent you pay in that time, for up to 2 consecutive weeks. We ll reimburse you at the amount of the lower of either the rent you pay on your current rental property, or the rent you were required to pay at your new place of residence but only up to the benefit limit for your level of cover. We won t reimburse you for any period beyond your notified vacate date. if you are not vacating your current rental property permanently; or if the reason for vacating your current rental property is listed under What reasons for moving aren t covered? on page 1 (above). We don t provide any cover for incidents in relation to tenancies ending that have involved the following acts by tenants or sub-tenants, or their guests or family members, or someone living in the rental property unless you can prove that the person responsible for the act wasn t yourself or your family member, or unless in our opinion the act didn t contribute to the tenancy ending: non-payment of rent; damage caused to property (unless the damage is a direct result of an accidental fire or explosion); non-compliance with the rental agreement; or illegal activity. What s out continues on page 6 (below). 5

8 What s out continued from page 5 (above). We don t provide any cover for incidents that are caused by, or arise from, or involve: incidents outside of Australia; intentional actions by you, a family member or acquaintance of yours, or someone otherwise acting with your express or implied consent; asbestos of any kind; any of the following nasties, whether actually present or threatened - biological substances, chemicals, other contaminants, radioactivity, nuclear material or waste, or any nuclear fission action; any looting, rioting, or any response taken by a public authority in relation to the nasties immediately above; or war, terrorism, revolution, any other warlike activity, as well as any associated looting or rioting whether or not war is actually declared. Benefits we provide under this policy may be reduced by any amount that the landlord, or agent, or another tenant of your current rental property has paid you, or had agreed to pay you, as compensation for you being forced to move from your current rental property. Optional extras Each time we are providing you with benefits under Transit & storage cover (take a look at page 4 above) you may be given the choice to increase the value of that benefit by choosing the Upsize transit & storage cover optional extra (option). An extra premium will apply at the time if you do so. You ll need to pay the extra premium before we ll provide you with any increased cover. Upsize transit & storage cover This option increases the amount of cover provided by Transit and storage cover on page 4 (above) to more than $10,000 (including GST) per storage crate. If we offer you this option we ll tell you at the time the range of increased cover values you can choose from. The value that you choose will be set out in your updated insurance schedule. This option doesn t alter the policy limits for paintings, curios, works of art, professional equipment, collectibles, photography equipment and musical instruments (see page 4 (above)). Each time you choose this option it only upsizes the cover for that time we are providing you Transit and storage cover. If you have another separate claim in the period of cover, you ll only have cover under Upsize transit & storage cover on that separate claim if we ve offered you this option for that claim, you have chosen it, and you pay the extra premium that applies. When you need to claim What can you claim for and how often? You can claim whenever you need to as long as the incident is covered by your policy of course! We ll treat each separate incident as a separate claim. For example, if you are force moved from two different rental properties at different times during the period of cover, then you have to make two claims. The standard excess applies to your second claim and any subsequent claims in any one period of cover. For information on excesses see Excesses on page 7 (below). Making a claim First things first - login to bingle.com.au and follow the prompts. You ll need to make sure that you re giving us all the information we need, and that it s all accurate too. We ll always do our best to keep you in the loop - so you know how your claim is tracking or if there is anything else we need from you to help us work out the cause, and value of your claim including: y Providing us with information to prove that the incident covered by your policy took place. This could be giving us the related vacate or eviction notice, giving us authority to obtain information from your bank account, and letting us know the contact details of your landlord or real estate agent. y Providing us with proof that the current rental property was your primary place of residence at the time of an incident covered by this policy taking place. This could be giving us a relevant trail describing your living arrangements. y Providing us with proof of costs you have incurred, such as receipts - if they are covered by this policy, or were otherwise authorised by us in writing before you incurred them. y Taking part in interviews with us, or any experts we ve chosen, if we decide they re needed. y Providing us with written statements or other relevant documents. Sometimes attendance at court to give evidence might be required. 6

9 We need you to keep us in the loop too We rely on you keeping us in the know with anything relevant to your claim as you become aware of it. If you don t do this, or you don t meet your obligations under this policy, we can reduce or refuse your claim and we can even cancel your policy. Excesses An excess is the amount you may have to pay for each claim. We treat each incident as a separate claim. There is one type of excess: y A standard excess, that applies to your second claim and any subsequent claims in any one period of cover. The standard excess doesn t apply to your first claim in any one period of cover. The amount of your standard excess is shown on your insurance schedule. When you claim you ll need to pay the applicable excess before we ll provide you with any further benefits under this policy. If your claim s not covered (when it s a no can do) We ll always assess your claim. If you don t meet your obligations under this policy, or our assessment shows that the incident isn t covered by this policy, we may decide to refuse your claim - even if we had let you lodge it to begin with. If so, we ll give you our reasons in writing. If we refuse your claim and we ve already paid any monies on it, including on optional extras, we may recover those monies from you. You can dispute our refusal if you think we re wrong - please see Complaints? Let us know what you think in Important Information - Part 1 of the PDS for more information. How we settle your claim We ll settle your claim or provide you with services under this policy s benefits in accordance with each benefit or optional extra. If we re covering you for expenses you ve already paid yourself or making a payment to you, we ll pay you that value less the amount equal to any applicable Input Tax Credit that you are entitled to. Provision of services through our service providers If you re receiving a benefit under A bed for my head on page 3 (above) or Move & store my stuff on page 4 (above) you may be required to enter into an agreement with our service provider and pay them a security deposit in accordance with their terms and conditions. If you keep using the services of one or more of our service providers after the time we provide cover under your policy, or you want to acquire additional services from one or more of our service providers, you ll be directly responsible to pay any costs not covered by your policy to that provider(s). If we can t provide you with services from one of our service providers for benefits under A bed for my head on page 3 (above) or Move & store my stuff on page 4 (above) then we ll reimburse you the fair and reasonable costs you incur to organise similar benefits yourself, but subject to the benefit limits that apply to your level of cover and to the conditions, limits and exclusions that otherwise apply to A bed for my head and Move & store my stuff. Claims under Bond assist If you choose to apply to Suncorp Bank for an approved loan under Bond assist on page 3 (above), your policy doesn t guarantee that your loan application will be successful. Any payment that Bingle pays on your behalf under the Bond assist benefit will be paid to Suncorp Bank for them to credit against the relevant loan account. Transit & storage cover and Upsize transit & storage cover We ll settle claims under Transit & storage cover on page 4 (above) and the Upsize transit & storage cover option on page 6 (above) by payment to you. We have the right to recover monies from those at fault Once we ve paid a claim under this policy we can choose to take legal action in your name, to recover money from the person or entity that was at fault, or caused the loss, damage, or liability. You must give us all the help we need to do this. But in doing so, if we recover money that belongs to you and wasn t part of the claim we paid, we ll give this to you. Refer to the Renter s Forced Moving Insurance Premiums, Excesses & Claims Guide for further information on how we settle your claim. 7

10 Words with special meanings Sometimes even we have to use words with special meanings to properly explain the cover your policy provides. The words with special meanings used in this Part 2 of the PDS are listed here. Make sure you also read the words with special meanings listed in Important Information - Part 1 of the PDS. Otherwise any words we use are consistent with their ordinary meaning. Agent means a person who acts as an intermediary between the landlord and tenants of a rental property. An approved loan is an unsecured personal loan, with a scheduled repayment term of not less than two years, you take out with the lender Suncorp Bank. Current rental property means the dwelling or premises you are renting under a rental agreement at the time an incident covered by this policy happens. Fair and reasonable means the least amount of cost or effort that is actually required in order to obtain the described outcome. Family member means someone who is known by you to be related by blood, marriage, de-facto relationship, romantic partnership, or law, regardless of divorce or separation. Flood means the covering of normally dry land by water that has escaped or been released from the normal confines of any of the following: y a lake (whether or not it has been altered or modified); y a river (whether or not it has been altered or modified); y a creek (whether or not it has been altered or modified); y another natural watercourse (whether or not it has been altered or modified); y a reservoir; y a canal; or y a dam. Head-tenant means a renter who has a rental agreement in place with a landlord and who has sublet the premises to a sub-tenant under a separate agreement. INSURANCE ISSUED BY AAI LIMITED ABN AFSL NO TRADING AS BINGLE INSURANCE Your Insurance schedule means your latest insurance schedule we have given you. It is an important document that sets out the information you ve given us, on which we ve based our decision to insure you, as well as the individual details of your policy. We ll send you an updated insurance schedule whenever you let us know these details have changed. Natural disaster means flood, cyclones, bushfires, earthquake, tsunami or any actions or movements of the sea. Your new place of residence means the first dwelling or premises you occupy for residential purposes after vacating your current rental property, but doesn t include any temporary accommodation we have provided you with a benefit for under this policy. Period of cover means the time from when your policy starts to when it ends (as shown on your insurance schedule). Policy means your insurance contract. It is made up of Part 1 and Part 2 of the PDS, any Supplementary PDS, and your latest insurance schedule we have given you. Rental agreement means a contract granting use or occupation of property during a specified period of exchange for a specific amount of rent payable by the renter. The agreement can be either written or verbal or both. Storage crate means a wooden storage box of no less than 6 cubic metres with approximate dimensions of 2.4m length, 1.5m width and 2.2m height externally, or a similar storage box of equivalent capacity. Stuff means your household items and other possessions that you own or are responsible for, and which you are required to remove from your current rental property. Sub-tenant means someone who enters into a rental agreement with a head-tenant or another sub-tenant to rent part or whole of a rental property from them. Suncorp Bank is Suncorp-Metway Ltd ABN Vacate date means the date you are required to vacate your current rental property as given on the notice to vacate. We, us, our and Bingle mean AAI Limited ABN trading as Bingle Insurance. You, your means the person named as the policyholder on your insurance schedule. 8 B /11/15 A