CGU Insurance FAQs

ANZ has signed a long-term agreement with CGU to underwrite our ANZ Home Insurance, ANZ Landlord Insurance and ANZ Car Insurance products in Australia from July 2023.

There will be no immediate change to any current QBE-issued policies including benefits, servicing and claims processes until the insurance policy expires. As the policy is nearing expiry, you will receive an invitation to insure with CGU. Acceptance of that invitation will start your new policy underwritten by CGU, on your renewal date.

CGU is part of Insurance Australia Group (IAG), one of Australia's leading insurers with a proud 165-year history of serving Australians in their times of need, protecting half a million homes and over one million motor vehicles today.

At ANZ, we believe there's nothing more important than improving the financial wellbeing of our customers. CGU's continual focus and investment in strengthening their digital capabilities coupled with its well-established national claims expertise in effectively responding to both standard insurance claims and major natural peril events ensures that our ANZ customers will be well looked after in their time of need, especially during catastrophic weather events such as floods, fires and storms.

By partnering with CGU, ANZ will no longer be offering the same insurance policy as you are currently holding. There will be some important differences between your current and new policy. If you have already received your Invitation to Insure from CGU, please refer to the Product Table attached to your letter for some of the key differences. You should also read the Product Disclosure Statement (PDS) below for full details of what you're covered for and any exclusions to your policy.

Additionally, you should carefully check your new Certificate of Insurance, in particular the sum insured, excesses and optional benefits to make sure you've got the right amount of cover to help meet your needs.

Yes, if you need to make a claim whilst you are still covered by your current policy underwritten by QBE, your current claims process does not change. Additionally, if you already have a claim that is being processed, this claim will continue to progress under your current policy.  Visit anz.com/insuranceclaim to lodge your claim online, or for more information on how to make a claim.

No, the new ANZ Home Insurance offer does not include Full Building Replacement. Instead, the new Home Building Insurance policy includes sum insured cover, with a safety net that covers up to 25% of your building sum insured if the cost of rebuilding or repairing your home exceeds your building sum insured.

Please ensure you have reviewed your documents to ensure that the sum insured is appropriate for your home. A calculator is available from the Insurance Council of Australia to help you determine your sum insured.

Accidental damage cover is now standard across all ANZ Home Insurance policies underwritten by CGU.

If you would like to discuss your policy, please call us on 1300 171 269.

Tools of Trade cover is included under the CGU underwritten ANZ Home Insurance as part of your general contents insurance. CGU will provide cover up to $5,000 to repair or replace the tools and equipment you use in your current business, trade or profession, in the event of theft or accidental damage.

Tools of Trade cover does not include your home office equipment including a desk, chair or computer used for office work, or stock used in any business, however these items are included in your general contents cover. Please see PDS for further information and cover limits.

Your building sum insured should cover the full replacement value of your home. This means that you should nominate the total cost required to repair or rebuild your home as your sum insured, in the case the building suffers damage or total loss as a result of an incident.

Your contents sum insured should equal the total cost of replacing all of your contents, including GST. Any valuables worth over $2,500 that you would like insured should be nominated separately from your sum insured.

A calculator is available from the Insurance Council of Australia to help you determine your sums insured.

General contents held in storage can be covered under your CGU underwritten Contents Insurance policy if you inform CGU before moving your items into storage and if CGU's acceptance criteria are met.

Please refer to the PDS for information on what you are required to do to be entitled to this benefit, and what items will not be covered.

Your current ANZ Home Insurance policy, underwritten by QBE, provides cover for up to $3,000 per item for valuable items without requiring you to specify your valuables. For example, if you have a ring valued at $2,500 and a watch valued at $1,500, you did not need to specify these items as they were covered under the $3,000 limit per item.

With your new ANZ Home Insurance policy underwritten by CGU, you are covered up to $2,500 in total for each category of:

• Jewellery and watches
• Collections
• Works of art.

Using the same example, your total cover for the ring and watch would be $2,500 under the jewellery and watches category. To ensure both items are insured to their full value, you would need to increase your cover for this category.

Please review your Certificate of Insurance and check that any valuables and specified valuables cover meets your needs.

If you would like to increase your valuables cover under your CGU policy, please call 1300 171 269.

To make sure that you have cover for your portable contents away from home (for example your smart watch, laptop) you will need to purchase Portable Contents cover.

Please refer to the PDS for more information on Portable Contents cover.

If you would like to add portable contents cover, please call 1300 171 269.

No, the new ANZ Landlord Insurance offer does not include Full Building Replacement. Instead, your new Landlord Insurance policy includes sum insured cover.

Please review your documents to ensure that the sum insured is appropriate for your property. A calculator is available from the Insurance Council of Australia to help you determine your sum insured.

Your building sum insured should cover the full replacement value of your home. This means that you should nominate the total cost required to repair or rebuild your home as your sum insured, in the case the building suffers damage or total loss as a result of an incident.

Your contents sum insured should equal the total cost of replacing all of your contents, including GST. Any valuables worth over $2,500 that you would like insured should be nominated separately from your sum insured.

A calculator is available from the Insurance Council of Australia to help you determine your sums insured.

Under the CGU underwritten ANZ Home Insurance and ANZ Landlord Insurance, short term rentals will not be covered.

Your new CGU underwritten policy will provide cover for ridesharing up to 10 hours a week. Please read the PDS below for full details of what you're covered for and ensure the product is still suitable for your needs.

Whereas your old QBE issued policy provided market value cover, the new CGU underwritten ANZ Car Insurance with comprehensive cover offers agreed value only. Agreed value means you choose the amount to insure your car for (from a range provided to you).

For ANZ Third Party Fire and Theft cover, you will be able to choose between agreed value, or market value, which is the value of your vehicle immediately prior to the incident you are claiming for, and takes into account factors such as local market prices, and the age and condition of the vehicle. The maximum amount of cover will be $10,000.

Under CGU underwritten ANZ Car Insurance with comprehensive cover policies, 3 year new car replacement is standard. This means that if your new or demonstrator vehicle is written off in its first three years, CGU will try to replace your vehicle with a new vehicle of the same make, model, engine size and paint type.^disclaimer

If you wish to use your own repairer, you should take out the optional cover called "Any Repairer Option" which allows you to choose any licensed repairer to repair your vehicle.

Otherwise, as standard with ANZ Car Insurance with comprehensive cover, if your car's damaged and CGU are satisfied it can be repaired, you can have it fixed by a Partner Repairer.

There are close to 400 Partner Repairers across Australia providing the highest standards of quality, safety and service, and CGU will help find one that's convenient for you.

With CGU underwritten ANZ Car Insurance policies with comprehensive cover, you are automatically covered for a hire car for any event CGU agree to cover, including theft. For example:

• If you're in an accident caused by another driver, you need to be able to provide their name and address and CGU need to agree it's their fault. CGU will pay reasonable costs for a hire car until your car's repaired, or your claim is settled (whichever's first)^disclaimer
• If your car's stolen, CGU will pay up to $100 a day for a hire car. CGU will pay until your car's found and repaired, or until your claim is settled (whichever's first)^disclaimer
• If your car can't be driven after any other event covered by your policy, CGU will pay up to $100 a day for a hire car until your vehicle's repaired, or until your claim is settled (whichever’s first)^disclaimer

Tools of Trade cover is included with CGU underwritten ANZ Car Insurance with comprehensive cover. This cover provides financial assistance up to $1,500 to repair or replace the tools and equipment you use to earn an income in your current business, trade or profession, in the event of theft from a locked vehicle or damage as a result of an incident.

Please see PDS for further information and cover limits.

If you were previously paying by credit card, or direct debit from a non-ANZ bank account, you will need to update these details by calling 1300 171 269. Paying by instalment does not increase your premium. Please see payment options available in your Certificate of Insurance.

If you take no action once your QBE policy expires, you will not be covered by the new policy.

There is no surcharge for paying via credit card. Don't forget to call 1300 171 269 to update your credit card details, if you want to be covered under the new policy.

These discounts will not apply to your new policy. Your new policy will consider several pricing factors to determine your premium cost, resulting in a tailored solution for your individual circumstances, and reflective of the level of cover provided under the new CGU underwritten general insurance products.

For more detail on how CGU calculate your premium, please refer to the Premium, Excess and Discounts Guide found below.

IOS users will continue to see their current policy, underwritten by QBE, on the ANZ App. However, new policies underwritten by CGU will not be automatically accessible on the ANZ app.

To discuss, or make changes to your new policy, please call 1300 171 269.

If you need to change your details or update any information on your Certificate of Insurance, please call CGU prior to your QBE policy expiring on 1300 171 269.

If you need to change your details, please call 13 16 14.

For more information about the change to insurance underwritten by CGU, please call 1300 171 269.