NAB Car Insurance

NAB is a leading Australian bank that also offers drivers a choice of car insurance policies. Read our review to learn more about its products!

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National Australia Bank, or ‘NAB’, is one of Australia’s Big Four banks, offering clientele worldwide a range of personal, business and corporate services and support. Alongside its banking services in Australia, NAB also provides products including car, home and travel insurance. Underwritten by Allianz, its car insurance policies give drivers a choice of cover depending on their needs.

We’ve broken down NAB’s car insurance offerings in this review so you can understand your options. Find out what is and isn’t covered and the optional extras you can add today!

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

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

What car insurance policies are available through NAB?

NAB offers two main car insurance options:

Third Party Property Damage Cover

Comprehensive car insurance offers extensive coverage, giving you greater peace of mind on the road. NAB’s Comprehensive car insurance offers the following inclusions:

• Coverage for accidental loss or damage to your vehicle during the period of insurance, including theft, subject to policy terms, limits, and excess
• Replacement car if your vehicle is less than 2 years old and declared a write-off
• Temporary cover for a replacement vehicle for 14 days from the date of purchase
• Accidental death benefit of $25,000
• Replacement child seat or baby capsule in your vehicle during an accident, up to $500
• Emergency repairs, up to $500
• Travel and accommodation expenses resulting from a covered accident more than 100km from home, up to $1,000
• Replacement of stolen vehicle keys and re-coding of locks, up to $1,000
• Accidental damage or theft of personal items from your vehicle, up to $1,000
• Rental car after the theft of your vehicle, up to $100 per day for a maximum of 30 days
• Reasonable cost of towing your vehicle to the nearest repairer, a safe place or any other agreed location after a covered accident
• Coverage for accidental loss or damage to trailers or caravans that are attached to your vehicle, up to $1,000
• Transportation costs after a covered accident, up to $500
• Legal liability cover up to $20 million, including when using a substitute vehicle
• Legal costs and expenses for court proceedings arising from a claim for liability covered by the policy

Third Party Property Damage Cover

This type of cover is the most basic of all optional car insurance cover in Australia, covering only damage your vehicle causes to other vehicles and property, but not damage to your own car. NAB’s policy offers the following inclusions:

• Legal liability cover up to $20 million, including when using a substitute vehicle
• Legal costs and expenses for court proceedings arising from a claim for liability covered by the policy
• Coverage for car loss or damage caused by an uninsured driver, up to $5,000

Are there any optional extras available through NAB?

Yes – NAB’s Comprehensive car insurance cover has the following optional extras available:

• Rental car following an accident: up to $100 per day for up to 30 days
• Removal of basic excess for windscreen claims: up to two repairs and one replacement claim for windscreen, sunroof or window glass
• Cover for tools of trade: up to $3,000 for a single incident

You can also decrease your premium with the following optional excess:

• Unnamed driver excess: $2,500 for a single claim

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

• Generous rental car after theft allowance: if your car is stolen, you can get up to $100 a day for up to 30 days.
• Tools of trade cover: add this cover to your policy and get up to $3,000 if your tools are accidentally lost, damaged or stolen from your vehicle.
• Choice of repairer: NAB’s insurance provider Allianz can help you find a suitable repairer of you can choose your own.

• No Fire and Theft cover option: this option is no longer available for new car insurance policies taken out with NAB.
• High excess for unnamed drivers: if an unnamed driver has an incident while driving your car, a $2,500 unnamed driver excess applies if you have taken out the ‘Named driver’ option.

Common questions about NAB car insurance

No – NAB no longer offers Third Party Fire and Theft insurance cover and it is not available for new policies. It is only available to renewing customers with Third Party Fire and Theft insurance.

You can make a car insurance claim online with Allianz 24/7 via its claim form accessible from the NAB website, or by calling Allianz’s dedicated claims number.

Yes – when you take out NAB’s Comprehensive car insurance online, you can save 10% on your first year’s premium. You may also be able to save money with NAB’s Named Driver option.

Yes – NAB offers separate trailer and caravan insurance to cover your caravan or trailer and its contents after loss or damage caused by accident, theft, fire, storm or malicious damage by third parties.

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Disclaimer:

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.

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.

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© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.

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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.

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.

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