About This Template
This is a template for Part A of a combined Product Disclosure Statement and policy wording. It becomes a Product Disclosure Statement only when an issuer completes the bracketed items, adapts it to its own product and distribution, has it approved by its compliance function and its lawyers, and prepares and gives it under Part 7.9 of the Corporations Act 2001 (Cth). Cuttleflow is not an issuer of insurance and does not issue this product.
The issuer must also make its own target market determination for the product under Part 7.8A of the Corporations Act. A target market determination depends on the issuer's eligibility rules, channels and data, so it is not part of this template.
Everything below this section, to the end of the notes, is the template text.
About This Document
| Item | Detail |
|---|---|
| Issuer | [Insurer legal name], ABN [ ], AFSL [ ] |
| PDS reference | [PDS reference] |
| Date prepared | [date] |
| Policy wording | Meridian Private Motor, 2026/PMV/0001, version [1.1.0] (Part B) |
This document has two parts. Part A explains the product: who it is for, what it covers and does not cover, how it differs from the cover the law sets as standard, what it costs, and your rights. Part B is the policy wording. It is the contract between you and us, together with your Schedule and any Endorsement.
Please read both parts and your Schedule, and keep them together.
1. About Us
This insurance is issued by [Insurer legal name] (ABN [ ], AFSL [ ]) ("we", "us", "our"). [We are authorised by the Australian Prudential Regulation Authority to carry on general insurance business in Australia.]
Contact us: [phone], [email], [postal address], [website].
[If a distributor arranges the policy as our agent: [Distributor name] (ABN [ ], AFSL [ ] or authorised representative number [ ] of [licensee]) arranges this insurance as our agent, not as your agent.]
2. Is This Product Right for You?
Private Motor Insurance is for individuals who insure a car used mainly for private purposes, including travel to and from work. We have made a Target Market Determination (TMD) for this product, which describes the consumers it is designed for. It is available at [URL] or by calling us.
This product is not suitable if your vehicle is a motorcycle, a light commercial vehicle or a heavy vehicle, if it is used for hire, fare or reward (including rideshare or platform delivery) or mainly for business, or if you need cover outside Australia.
The information in this PDS is general only. It does not take into account your objectives, financial situation or needs. Consider whether the product is right for you before you buy it.
3. Cover at a Glance
You choose a cover level for each vehicle. The amounts below are the standard amounts. Your Schedule shows the amounts that apply to you, and they may differ.
| What is covered | Comprehensive | Third party, fire and theft | Third party only |
|---|---|---|---|
| Accidental loss or damage to your vehicle, including collision, storm, hail, flood, malicious damage, falling objects, animal impact, fire and theft | Yes | Fire, lightning, explosion, theft and attempted theft only | No |
| New vehicle replacement if your vehicle is written off within 24 months of first registration (vehicles up to 3.5 tonnes; up to 120% of the sum insured) | Yes | No | No |
| Damage to other people's property caused by your vehicle, up to $20 million [or the limit you choose] | Yes | Yes | Yes |
| Death or bodily injury to other people where CTP or a statutory scheme does not respond, up to $5 million (within the property damage limit) | Yes | Yes | Yes |
| Damage to your vehicle caused by an identified uninsured driver who is at fault, up to $5,000 | Covered as accidental damage | Yes | Yes |
| Hire car after theft, up to $100 a day for 21 days | Yes | Yes | No |
| Hire car after an accident that was not your driver's fault, up to $100 a day for 14 days | Yes | No | No |
| Towing, up to $2,500 | Yes | Yes | No |
| Emergency repairs, up to $750 | Yes | No | No |
| Windscreen and window glass, up to $3,000, with no excess | Yes | No | No |
| Personal effects, up to $1,000 (not money or jewellery) | Yes | No | No |
| Locks and keys after keys are stolen, up to $1,500 | Yes | Yes | No |
| Child seats and restraints, up to $750 a seat | Yes | No | No |
| Emergency travel and accommodation more than 100 km from home, up to $1,000 | Yes | No | No |
| A trailer you own while attached, up to $2,000 | Yes | No | No |
The additional benefits are paid on top of the sum insured.
Options you can add (an extra premium may apply):
- Agreed value (E05): your vehicle is insured for a value we agree with you, rather than market value.
- Increased windscreen cover (E06): a higher glass limit, including recalibration of cameras and sensors mounted on the glass.
- Extended hire vehicle (E10): a higher daily amount and longer period, and hire after an accident whoever was at fault.
- Electric and hybrid vehicles (E14): accidental damage to the traction battery, to your charging equipment at home and to portable cables. It applies automatically to an electric or hybrid vehicle.
Part B sets out the cover in full: the Cover for Your Vehicles section, the Your Legal Liability section and the Additional Benefits extension.
4. Significant Benefits
- Settlement: if your vehicle is written off, we pay its market value immediately before the loss, up to the sum insured, or the agreed value if you chose that option, less the excess and any unpaid premium for that vehicle.
- Repairs: you may choose your own repairer. If you use a repairer we recommend, we guarantee the repairs for as long as you own the vehicle. We do not use second-hand or non-genuine parts without your consent, unless your vehicle is more than five years old and genuine parts are not reasonably available.
- Replacement vehicle: a car you buy during the period of insurance to replace your insured car is covered on the same terms for the first 14 days after you take possession of it, if you tell us about it within those 14 days.
- Other drivers: anyone driving your vehicle with your permission is covered, subject to the exclusions and excesses.
- No claim bonus: your rating improves each year you do not make an at-fault claim. It affects your premium only, not your cover.
5. Significant Risks
The cover may not be enough. If the sum insured or agreed value is less than the cost of replacing your vehicle, you bear the difference. Check the sum insured each year.
You pay an excess on most claims (section 8).
Exclusions apply. We do not pay for loss, damage or liability:
- while the vehicle is driven by someone without a licence appropriate for it, or whose licence is suspended or cancelled, unless the person claiming cover did not know and could not reasonably have known, or the vehicle was driven without your consent;
- while the driver's ability is impaired by alcohol or a drug, the driver is over the legal alcohol limit, or the driver refuses a lawful test, unless the person claiming cover did not know and could not reasonably have known of the driver's state, or the vehicle was driven without your consent;
- caused by an unsafe or unroadworthy condition you knew about or ought reasonably to have known about;
- while the vehicle is used for racing, pace-making, speed or reliability testing, rallying or any competition, or on a racetrack;
- caused by a load or towed weight above the vehicle's rated or registered capacity;
- while the vehicle is used for hire, fare or reward, including rideshare and platform delivery, or for a use other than its permitted use that you knew of or consented to;
- that you, or someone with your consent, caused deliberately;
- outside Australia; or
- from war, nuclear risks or terrorism.
For your vehicle, we do not pay for mechanical, electrical or electronic breakdown, wear and tear, rust or corrosion, tyre damage by punctures, cuts or bursts unless other insured damage happens at the same time, loss of value after a repair, loss of use (except the additional benefits), or loss of your vehicle to a buyer who does not pay for it.
For your liability, we do not pay for damage to property you own or are in charge of, liability from carrying dangerous goods, liability you take on under a contract, or fines, penalties or punitive damages.
This is not CTP insurance. Injury to people is covered by the compulsory third party scheme in your State or Territory. Our supplementary bodily injury cover applies only where that scheme does not respond.
We do not pay where doing so would expose us to a sanction under Australian law, United Nations resolutions, or the sanctions laws of the European Union, the United Kingdom or the United States.
If you do not meet your duty to take reasonable care (section 11), or a condition of the policy, we may be able to refuse or reduce a claim, as the Insurance Contracts Act 1984 (Cth) allows.
Part B sets out the exclusions in full, under What Is Not Covered for Your Car, What Is Not Covered for Your Legal Liability and General Exclusions.
6. How This Policy Differs From Standard Cover
The Insurance Contracts Act 1984 (Cth) and the Insurance Contracts Regulations 2017 (Cth) set a standard cover for motor vehicle insurance taken out by an individual. Standard cover pays an amount sufficient to indemnify you for the destruction, theft or accidental damage of your vehicle in Australia, and covers liability for damage to other people's property caused by the use of the vehicle up to at least $5 million, subject only to the exclusions the Regulations allow.
[WP REVIEW: check every row of this table line by line against the Regulations in the current compilation. A bracketed standard cover entry has not been verified. Remove a row if the term is within standard cover. Add a row for any other term of Part B that gives less cover than standard cover.]
This policy gives less cover than standard cover in the ways listed below. We are telling you about each of them now, in writing, before you enter into the contract, so that they apply to your policy.
| Area | Standard cover | This policy |
|---|---|---|
| Cover level: Third party, fire and theft | Destruction, theft and any accidental damage to your vehicle | Loss or damage to your vehicle only from fire, lightning, explosion, theft or attempted theft. No cover for collision, storm, flood, malicious damage or other accidental damage, except up to $5,000 for damage by an identified uninsured driver who is at fault. |
| Cover level: Third party only | As above | No cover for loss of or damage to your vehicle, except up to $5,000 for damage by an identified uninsured driver who is at fault. |
| Most we pay for your vehicle | An amount sufficient to indemnify you | Market value up to the sum insured, or the agreed value, less the excess. If the sum insured or agreed value is less than the market value, you bear the difference. Any unpaid premium for the vehicle is deducted from a total loss payment. |
| Excesses | No excess | The basic excess and any age, inexperienced driver, unlisted driver or voluntary excess shown in your Schedule (section 8). |
| Drivers affected by alcohol or drugs | Excluded only where you are the driver, or where you knew or should reasonably have known the other driver was affected | Excluded whenever the driver is impaired by alcohol or a drug, is over the legal alcohol limit or refuses a lawful test, unless the person claiming cover did not know and could not reasonably have known of the driver's state, or the vehicle was driven without your consent. |
| Unlicensed or disqualified drivers | [Confirm against the Regulations] | Excluded while the vehicle is driven by a person without a licence appropriate for it, or whose licence is suspended, cancelled or disqualified, unless the person claiming cover did not know and could not reasonably have known, or the vehicle was driven without your consent. |
| Unsafe or unroadworthy vehicle | [Confirm against the Regulations] | Excluded where the loss is caused by use of the vehicle in an unsafe or unroadworthy condition that you knew about or ought reasonably to have known about. |
| Deliberate acts | [Confirm against the Regulations] | Excluded where you, or a person acting with your consent or knowledge, cause the loss deliberately. Another person named as an insured who did not know of it, take part in it or consent to it is still covered. |
| Racing and track use | Excluded for racing, pace-making, reliability trials and speed or hill-climb tests | Also excluded for rallying, any competition and any use on a racetrack, including non-competitive track days. |
| Overloading | Not an allowed exclusion | Excluded where the loss is caused by a load or towed weight above the vehicle's rated or registered capacity. |
| Use other than the permitted use | Not an allowed exclusion, except hire or reward, motor trade and unlawful use | Excluded while the vehicle is used other than for its permitted use (for example mainly for business), where you knew of or consented to that use. |
| Hire, fare or reward | [Confirm against the Regulations] | Excluded while the vehicle is used for hire, fare or reward, including rideshare and platform delivery. Sharing the cost of a trip, where you make no profit, is not hire, fare or reward. |
| Outside Australia | [Confirm against the Regulations] | No cover for loss, damage or liability that occurs outside Australia. |
| War and nuclear risks | [Confirm against the Regulations] | Excluded. |
| Terrorism | Not an allowed exclusion | Excluded. |
| Sanctions | Not an allowed exclusion | We do not pay where doing so would breach sanctions laws. |
| Consequential loss | Indemnity for the loss | No cover for loss of use or other consequential loss, except the additional benefits. |
| Sale of your vehicle | Theft is covered | No cover for losing your vehicle to a buyer who does not pay or pays with a dishonoured payment. |
| Keeping the vehicle registered and roadworthy | [Confirm against the Regulations] | You must keep the vehicle registered and roadworthy. If you do not, we may reduce or refuse a claim only as section 54 of the Insurance Contracts Act allows (section 16). |
| Liability: dangerous goods | Not an allowed exclusion | Liability arising from carrying dangerous goods is excluded. |
| Liability: fines and punitive damages | Compensation or damages for property damage | Fines, penalties and aggravated, punitive or exemplary damages are excluded. |
| Unpaid instalments | No such limit | If an instalment is unpaid for one month or more, we may refuse a claim arising after it fell due (section 10). |
| Cancellation after a total loss | [Confirm against the Regulations] | No premium is refunded for a vehicle after we pay a total loss of it (section 13). |
| Changes during the period | [Confirm against the Regulations] | After you tell us of a change, we may change the premium or terms by written notice, from the date stated in the notice, which is not earlier than 14 days after we send it. If you do not accept them, you may cancel (section 14). |
7. Your Premium
Your premium is shown in your quote and Schedule. It is made up of our base premium and the government charges that apply: stamp duty in your State or Territory, GST, and any other levy that applies.
The base premium is calculated from information about you, your drivers and your vehicle, including:
- the type, make, model, age and value of the vehicle, and the sum insured or agreed value;
- the cover level and the value basis you choose;
- where the vehicle is kept overnight;
- how the vehicle is used;
- the age and driving experience of the youngest driver;
- your claims history and no claim bonus rating;
- the basic excess you choose (a higher excess lowers the premium);
- the third party property damage limit you choose, which cannot be set below the minimum amount that standard cover requires (section 6); and
- any options you add.
A minimum premium of $[ ] applies. [Describe any discounts.]
You may pay annually or [monthly] by instalments. [State whether paying by instalments costs more, and any fee.] We tell you the total amount payable before you buy.
[If a distributor arranges this policy: we pay the distributor a commission of up to [ ]% of the base premium, which is included in the premium and is not an extra cost to you. The distributor's Financial Services Guide gives details.]
8. Excesses
An excess is the amount you pay towards each claim. Your Schedule shows the excesses that apply.
| Excess | When it applies | Standard amount |
|---|---|---|
| Basic excess | Every claim, unless no excess applies | $750, or the amount you choose [list the options offered] |
| Age excess | In addition, where the driver was under 25 | $1,000 for a driver under 21; $600 for a driver aged 21 to 24 |
| Inexperienced driver excess | In addition, where the driver had held a licence for that class of vehicle for less than 2 years | $500 |
| Unlisted driver excess | In addition, where your Schedule names drivers and the driver was not one of them | $800 |
| Voluntary excess | In addition, where you chose a higher excess for a lower premium | As shown in your Schedule |
No excess applies to a claim for windscreen or window glass only, or where your driver was not at fault and you give us the name and address of the person responsible. We decide whether your driver was not at fault reasonably, on the evidence available to us. If you disagree, you may ask us to review the decision or make a complaint (section 19). If more than one insured vehicle is damaged in the same event, you pay one basic excess (the highest that applies), plus any additional excesses for each driver.
Example: your basic excess is $750. Your 20-year-old son, who has held his licence for 18 months, is driving and damages your car in a collision that is his fault. You pay $750 + $1,000 (age) + $500 (inexperienced driver) = $2,250, and we pay the rest of the covered repair cost.
9. No Claim Bonus
Your no claim bonus rating is shown in your Schedule. It improves by one step at each renewal after a period of insurance with no at-fault claim, up to the highest rating. It falls by 2 steps for each at-fault claim. A claim does not count as at fault where your driver was not at fault, as we decide reasonably on the evidence available, and you give us the name and address of the person responsible, or where the claim is for glass only, or for theft, storm, hail or flood.
10. Paying by Instalments
If an instalment is unpaid for one month or more, we may refuse a claim for an event after the instalment fell due, and we may cancel the policy. We will tell you in writing before we do either, as the Insurance Contracts Act 1984 (Cth) requires.
11. Your Duty to Take Reasonable Care
Before you enter into, renew, extend, vary or reinstate this insurance, you have a duty under the Insurance Contracts Act 1984 (Cth) to take reasonable care not to make a misrepresentation to us. A misrepresentation is a false answer, an answer that is only partly true, or an answer that does not fairly reflect the truth.
Answer every question honestly, accurately and as fully as you can. If you are answering for another person who will be covered, we will treat your answers as theirs.
The duty applies until we agree to insure you. If you do not meet it, we may cancel your policy or reduce the amount we pay for a claim, or both. If the misrepresentation was fraudulent, we may cancel the policy from its start (avoid it) and refuse to pay any claim.
12. Cooling-off Period
You may cancel the policy within 21 days of the day it was issued by telling us in writing. We refund the premium in full, less any government charges we cannot recover, unless you have made a claim. This cooling-off right does not apply once you have made a claim.
13. Cancelling Your Policy
You may cancel your policy, or remove a vehicle from it, at any time by telling us in writing. We refund the premium for the unexpired period on a pro-rata basis, less any government charges we cannot recover. If we have paid a total loss of your vehicle, no premium is refunded for that vehicle. [State any cancellation fee, or that there is none.]
We may cancel your policy only on a ground the Insurance Contracts Act 1984 (Cth) allows, for example if you do not meet your duty to take reasonable care, if you make a fraudulent claim or if you do not pay the premium. We give you at least 30 days' written notice and refund the premium for the unexpired period on a pro-rata basis.
14. Telling Us About Changes
Tell us during the period of insurance if you change your car, if the address where it is kept overnight changes, if it is modified, if someone not shown in your Schedule starts to drive it regularly, or if you start to use it for business, rideshare or delivery. We may change the premium or terms because of a change you tell us about, but only by giving you written notice of the new premium or terms. They apply only from the date stated in the notice, which is not earlier than 14 days after we send it. If you do not accept them, you may cancel the policy, we refund the premium for the unexpired period on a pro-rata basis from the date of cancellation, and the new premium or terms do not apply to you.
15. Renewal
Before your policy expires we will send you a renewal offer, or tell you that we will not offer renewal, at least 14 days before the expiry date. Check that your details and the sum insured are still correct. [State whether the policy renews automatically if the premium is paid by direct debit, and how to stop it.]
16. Making a Claim
Contact us as soon as you can on [claims phone], [online claims URL] or [email]. We will ask what happened, the details of each vehicle and person involved and any witnesses, and for a police report number for theft or malicious damage. Do not admit fault or agree to pay anyone without our consent, except as the law requires. Take reasonable steps to prevent further damage, and let us inspect the vehicle before repairs start, except emergency repairs needed to make it safe.
If you do not meet one of these obligations, we will not refuse your claim for that reason alone. Under s 54 of the Insurance Contracts Act 1984 (Cth) our liability is reduced only by the amount that fairly represents the extent to which our interests were prejudiced. Where what you did or did not do could reasonably be regarded as capable of causing or contributing to the loss, we may refuse only the part of the claim that it caused or contributed to, and we may not refuse any part that you prove it did not cause.
Handling your claim is a financial service, and we must handle it efficiently, honestly and fairly. If we need more information, we will tell you what we need and why. We will tell you our decision in writing, with our reasons.
Part B sets out what you must do: the Your Obligations When Something Happens section.
17. General Insurance Code of Practice
We are a signatory to the General Insurance Code of Practice. The Code sets standards for how insurers deal with you, including when you buy insurance, make a claim, need financial hardship support, are experiencing vulnerability, or make a complaint. The Code Governance Committee monitors compliance. More information is at codeofpractice.com.au.
[The Insurance Council of Australia submitted a revised Code to ASIC on 22 October 2026. Update this section for the Code in force when the PDS is prepared.]
18. Financial Hardship and Extra Support
If you are experiencing financial hardship and owe us money (for example an excess, or an amount we have paid for which you are responsible), you may ask us for help. If you are experiencing vulnerability, for example because of family violence, illness, a disability or difficulty communicating in English, tell us and we will work with you to give you the support you need. Contact [hardship and support contact].
19. Complaints
If you are not happy with our product, our service or a decision we have made, contact us first on [complaints phone], [email] or [postal address]. We will acknowledge your complaint within one business day and give you a written response within 30 calendar days.
If you are not satisfied with our response, or we do not respond within 30 calendar days, you may take your complaint to the Australian Financial Complaints Authority (AFCA), an independent external dispute resolution scheme. AFCA's service is free to you. Website www.afca.org.au; email info@afca.org.au; phone 1800 931 678; post GPO Box 3, Melbourne VIC 3001. Time limits may apply to complaints to AFCA.
20. Financial Claims Scheme
[This policy may be a protected policy under the Financial Claims Scheme, which protects certain policyholders and claimants if an insurer becomes insolvent. If the scheme applies, you may be entitled to payment under it. More information is at www.fcs.gov.au or by calling 1300 558 849.]
21. Privacy
We collect your personal information to assess your application, arrange and administer your policy and handle claims. If you do not give us the information we ask for, we may not be able to insure you or pay a claim. We may disclose it to our service providers, reinsurers, distributors, other insurers, claims databases and, where required, government bodies, [some of whom may be overseas, including in [countries]]. Our privacy policy at [URL] explains how to access and correct your information and how to complain about a privacy matter.
22. GST
Limits and sums insured include GST. If you are entitled to an input tax credit for the GST on a repair or replacement, we reduce our payment by that credit.
23. Updating This PDS
We may update information in this PDS that is not materially adverse to you without telling you. The updated information is at [URL], and we will give you a paper or electronic copy free of charge on request. If a change is materially adverse, we will issue a new or supplementary PDS.
Part B — Policy Wording
Part B is the Meridian Private Motor policy wording, 2026/PMV/0001, version [1.1.0], included unchanged, with the issuer's Default Schedule Values where they differ from the Default Schedule Values.
Notes for Issuers and the Wording Partner
These notes are not part of the PDS. Delete them before use.
- Complete every bracketed item: issuer, contacts, URLs, distributor details, limits and excess options offered, minimum premium, instalment terms and costs, commission, cancellation fee, renewal mechanics, the Financial Claims Scheme (only for an APRA-authorised insurer) and overseas disclosure.
- The amounts in sections 3, 8, 9, 12 and 14 are the wording's Default Schedule Values. If you set other values, change them here, in your Schedule and in your target market determination, and check the change against section 6. The third party property damage limit cannot be set below the minimum that standard cover requires.
- Give the consumer the PDS before the contract is entered into, so that section 6 applies. Where that is not reasonably practicable, for example in a phone sale, s 69 of the Insurance Contracts Act allows it within 14 days after; confirm this for your distribution model. Section 35(2) does not apply where the insured's own broker arranges the contract; the table is kept for all channels.
- Section 6 is drawn from Insurance Contracts Regulations 2017 regs 15 to 17 as made: prescribed events in reg 16(1), allowed exclusions in reg 16(2), and the $5,000,000 liability minimum in reg 17(2). Confirm it against the current compilation. Points to decide: whether every excess must be listed or only the basic excess; whether the alcohol and drug exclusion, which now lifts where the person claiming cover did not know and could not reasonably have known of the driver's state, is within the reg 16(2)(f)(ix) and (h) standard so that its row can be removed; whether loss of use and the non-genuine parts rule depart from an indemnity or sit within it.
- Update section 17 for the revised General Insurance Code of Practice if ASIC approves it before the PDS is prepared. The revised Code is reported to be intended to form part of the consumer contract.
- The wording carries open [WP REVIEW] tags on instalments (s 39 of the Insurance Contracts Act) and on a service-of-suit clause for an insurer that is not APRA-authorised. Section 10 assumes written notice is given before a claim is refused for an unpaid instalment; the wording now promises it.
- The content follows Corporations Act s 1013D (issuer, benefits, risks, costs, commission, dispute resolution, cooling-off) and the clear, concise and effective standard in s 1013C(3). A Key Facts Sheet is not required for motor insurance.
Comments on this wording