motor-insurance-complete-care-pds-current.pdf

motor-insurance-complete-care-pds-current.pdfPDF369 KB

Complete Care Motor Insurance Product Disclosure Statement and Policy Booklet

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RACV Complete Care Motor Insurance is issued by Insurance Manufacturers of Australia Pty Limited ABN 93 004 208 084 AFS Licence No. 227678. GPO Box 244 Sydney NSW 2001, a subsidiary of Insurance Australia Group Limited. RACV Complete Care Motor Insurance is distributed to members of Royal Automobile Club of Victoria (RACV) Ltd, by RACV Insurance Services Pty Ltd ABN 74 004 131 800 AFS Licence No. 230039 This Product Disclosure Statement and Policy Booklet (PDS) was prepared on 2 August 2022. The information in this PDS is current at that date. From time to time, we may include more up-to-date information in the PDS that is not materially adverse without notifying you. You can get more up-to-date information by calling 13 RACV (13 7228) or visiting racv.com.au. We will give you a free copy of any updates when you request them. If it becomes necessary, we will issue you a supplementary or replacement PDS. ©2022. http://racv.com.au

SPDS Edition 1 This Supplementary Product Disclosure Statement (SPDS) is dated 21 March 2023 and will apply to all RACV Complete Care Motor Insurance Product Disclosure Statement and Policy Booklets version G018196 08/22 (PDS) taken out with a new business effective date on or after 22 March 2023, or with a renewal effective date on or after 24 April 2023. The information in this SPDS updates the terms contained in the PDS and should be read together with the PDS and any other applicable SPDS. If you would like another copy of your PDS, please go to racv.com.au, call 13 RACV (13 7228) or visit an RACV Shop. Changes to your PDS Your PDS is amended by the following: Change 1 – Update to 'RACV Member' definition Your PDS is amended by removing the following renewable products from the 'RACV Member' definition on page 39: – Monitored home security systems – Novated leases – Debentures. Supplementary Product Disclosure Statement Page 1 of 3 http://racv.com.au

Updated wording is as follows: RACV Member a person or business holding a renewable product with RACV. Renewable products include Emergency Roadside Assistance, RACV Club Membership, Insurance, Emergency Home Assist and personal loans. RACV membership card colours are linked to the following continuous years of RACV membership: Blue – 0 to 4 years, or as determined by RACV. Bronze – 5 to 9 years, or as determined by RACV. Silver – 10 to 24 years, or as determined by RACV. Gold – 25 to 50 years, or as determined by RACV. Gold 50 – 51 years or more, or as determined by RACV. Change 2 – Amendment to 'Emergency transport and accommodation' Your PDS is amended by replacing the dot point on page 13: we must agree to the costs before they are incurred. with the following: you should seek our agreement before incurring any out-of-pocket expenses to ensure you will be able to claim those costs back on your policy. If you do not obtain our agreement first, we will only pay the reasonable costs. Page 2 of 3

This SPDS is issued by Insurance Manufacturers of Australia Pty Limited ABN 93 004 208 084 AFS Licence No. 227678 RACV Complete Care Motor Insurance is issued by Insurance Manufacturers of Australia Pty Limited ABN 93 004 208 084 AFS Licence No. 227678 GPO Box 244 Sydney NSW 2001 RACV Complete Care Motor Insurance is distributed to members of Royal Automobile Club of Victoria (RACV) Ltd. by RACV Insurance Services Pty Ltd ABN 74 004 131 800 AFS Licence No. 230039 SPDS026 03/23 Change 3 – Amendment to 'Authorising repairs to your vehicle' Your PDS is amended by removing the 'Authorising repairs to your vehicle' section on page 25 and replacing it with the following: Authorising repairs to your vehicle You should not start, approve or authorise any repairs to your vehicle unless: we allow it under 'Emergency repairs' (see page 13), or you obtain our prior written consent by contacting us on 1300 654 947. You should seek our agreement before incurring any out-of-pocket expenses to ensure you will be able to claim those costs back on your policy. If you do not obtain our agreement first, we will only pay the reasonable costs. Refer to the 'Repairing your vehicle' section of the policy for information in relation to what are reasonable costs. If we have cash settled your claim by paying you the fair and reasonable cost to repair your vehicle as determined by us (rather than authorising repairs), and you subsequently arrange or authorise repairs, we are not responsible for any costs associated with those repairs. Page 3 of 3

Page 1 of 2 SPDS Edition 2 This Supplementary Product Disclosure Statement (SPDS) is dated 10 October 2023 and will apply to all policies under the RACV Complete Care Motor Insurance Product Disclosure Statement and Policy Booklets (PDS), (Prepared on 02/08/2022) version G018196 08/22; taken out with a new business effective date on or after 11 October 2023, or with a renewal effective date on or after 13 November 2023. The information in this SPDS updates the terms contained in the PDS and should be read together with the PDS and any other applicable SPDS. If you would like another copy of your PDS, please go to racv.com.au, call 13 RACV (13 7228) or visit an RACV Shop. Changes to your PDS Your PDS is amended by the following: Change 1 – Amendment to 'Recovery actions' Your PDS is amended by deleting the last two paragraphs in the section 'Recovery action by us' on page 28, and replacing it with the following updated wording: You must give us all the information and co-operation that we reasonably require to take the recovery action. We will only request information or co-operation which is relevant to pursue the recovery action and will provide an explanation as to why it is needed. We will act reasonably in exercising our discretion in the conduct of any legal proceedings and in the settlement of any claim while we conduct any recovery action. We will keep you reasonably informed and updated with the progress of proceedings. Supplementary Product Disclosure Statement http://racv.com.au

A message to RACV Members from RACV Insurance Every year over 1,000,000 Victorians choose RACV Insurance. And it's no wonder. After all, RACV Insurance sets out to offer excellent value for money and the very best in service. With RACV Complete Care Motor Insurance, claims assistance is available 24 hours a day, 7 days a week, just call 1300 654 947. Of course, another great reason to choose RACV Insurance is that you automatically become an RACV member. RACV is, first and foremost, a membersh