NRMA

NRMA (formerly known as National Roads and Motorists Association) is best known for its insurance products including car insurance, home & contents insurance, landlord insurance and travel insurance.

What you may not know is that NRMA also provides car loans and personal loans.

NRMA was established in 1925 and has been around now for over 90 years.

Initially, NRMA was founded to provide car insurance to members in NSW and the ACT. It wasn’t until 1995, that it looked more broadly and added Queensland to the mix.

It is now backed by Australia and New Zealand’s leading general insurer, IAG (Insurance Australia Group) in NSW, Queensland, Tasmania and the ACT, but operates throughout Australia and New Zealand.

IAG has some of the biggest brands under its banner including NRMA Insurance, Swann Insurance, SGIC, SGIO and CGU, so NRMA is in good company.

NRMA

NRMA (formerly known as National Roads and Motorists Association) is best known for its insurance products including car insurance, home & contents insurance, landlord insurance and travel insurance.

What you may not know is that NRMA also provides car loans and personal loans.

NRMA was established in 1925 and has been around now for over 90 years.

Initially, NRMA was founded to provide car insurance to members in NSW and the ACT. It wasn’t until 1995, that it looked more broadly and added Queensland to the mix.

It is now backed by Australia and New Zealand’s leading general insurer, IAG (Insurance Australia Group) in NSW, Queensland, Tasmania and the ACT, but operates throughout Australia and New Zealand.

IAG has some of the biggest brands under its banner including NRMA Insurance, Swann Insurance, SGIC, SGIO and CGU, so NRMA is in good company.

Fast Loan - Low Rate - New Car. Satisfaction Guarantee.

1st year Fixed
Rate 4.99
Comparison
Rate. 5.69

Fast Loan - Low Rate - Used Car. Satisfaction Guarantee.

1st year Fixed
Rate 6.24
Comparison
Rate. 6.94

NRMA Secured Personal Loan

1st year Fixed
Rate 6.24
Comparison
Rate. 6.94

Insurance

As you would expect, NRMA offers a range of insurance products including:

  • CTP Green Slip
  • Car
  • Home
  • Travel
  • Motorcycle and Scooter
  • Business
  • Life
  • Income Protection
  • Funeral
  • Boat
  • Caravan
  • Bicycle
  • Strata Title

1. CTP Green Slip

Compulsory third party insurance, otherwise known as CTP Green Slip covers injury if anyone (including you and others) is driving your car when an accident occurs. CTP Green Slips may cover medical expenses and lost income, even if you’re at fault, however it does not cover damage to vehicles or property. Claims can be made if you are:

  • Injured in an accident caused by a vehicle insured with an NRMA CTP Green Slip
  • Injured in an accident while driving a car covered by an NRMA CTP Green Slip.

Coverage includes:

  • Percentage of income lost through time off work
  • reasonable medical expenses
  • Home care if required
  • Compensation if a relative passes away
  • Funeral expenses.

2. Car insurance

NRMA offers a range of car insurance products including Comprehensive, Comprehensive Plus, Third Party Property, Third Party Fire & Theft and CTP. It also offer separate insurance for Veteran, Vintage and Classic.

  • Comprehensive – covers damage from accident, theft, storm damage, fire and flood and covers you if you are the cause of the accident. A hire or replacement car is available if necessary. However, there is no roadside assistance with this policy.
  • Comprehensive Plus – NRMA’s highest level of coverage has all the coverage of its Comprehensive policy as well as no excess for glass damage or repair and taxi fares up to $250. It also cover damage to car modifications.
  • Third Party Property – does not cover damage to your car from an accident, but will cover other cars if you cause an accident.
  • Third Party Fire & Theft – does not cover damage to your car from an accident, but will cover fire or theft up to $10,000 market value and other cars if you cause an accident.

3. Home Insurance

NRMA repairs or rebuilds your home via its home insurance products, provided the incident that caused the damage is an incident they cover. Policy holders would also feel comforted by the fact that NRMA can arrange temporary accommodation for up to a year, while your home is being rebuilt or repaired. Insurance covers:

  • Fire
  • Water and oil leaks
  • Home rebuilds
  • Temporary accommodation
  • Theft and vandalism
  • Flood, rainwater run-off and storm surge
  • Emergency repairs
  • Building materials
  • Lightning
  • Moving home
  • Broken glass
  • Impact damage
  • Legal liability for injury

Note, it is always important to check the terms and conditions of any insurance policy to see if there are any hidden exclusions, if there are optional extras and what is not included. Always reads the Product Disclosure Statement before signing a policy agreement.

Other insurances under the home insurance banner include:

  • Home and contents – NRMA provides new for old replacement of household contents and personal belongings.
  • Home Building & Contents insurance – covers buildings and items for a range of incidents and offers a lifetime guarantee on workmanship of authorised repairs.
  • Landlord – Helps protect rental properties from rent default, damage, theft and vandalism.
  • Single Item Insurance – you can choose to insure individual items within your house.

4. Motorcycle and Scooter insurance

As with car insurance, there are a range of options including:

  • Comprehensive Motorcycle
  • Comprehensive Scooter
  • Motorcycle Third Party Property Damage
  • Scooter Third Party Property Damage
  • Veteran, Vintage and Classic Motorcycle

5. Travel Insurance

NRMA covers International and Domestic travel, but also offer multi-trip plans to give you the flexibility to travel without the need to take a new policy for every trip. The annual multi-trip plan gives you coverage for multiple trips that are 250km from your home. Choose between 30, 45 and 60 days on the International Comprehensive Plan and between 15 and 30 days on Domestic. International Travel insurance covers overseas medical expenses, cancellations, rental car insurance excess, luggage and personal effects, and more. Domestic Travel Insurance covers cancellations, rental car insurance excess, luggage and personal effects and more. 24 hour emergency assistance is available if something goes wrong.

6. Business Insurance

NRMA offers business insurance for a range of businesses and covers Public Liability and Professional Indemnity.

  • Public Liability – covers your business against claims of negligence causing injury or property damage.
  • Professional Indemnity – covers against risk that can cause financial loss, personal injury or property damage to your clients.

NRMA also offers Farm Insurance that protects land animals and your home and Motor Trades Insurance which protects mechanics, auto electricians and detailers among others in the motor trades businesses.

Car loans

While you may associate NRMA with insurance, the company is also in the car loan market.

NRMA offers loans for new and used cars, motorcycles, caravans and motor homes. Loans cover vehicles up to three years old.

There is no maximum borrowing amount, however you will need to prove you have the funds to pay back any loan given out. The minimum loan amount is $5000.

Benefits of the loan include:

  • Quick application process
  • No hidden monthly fees
  • Low fixed interest rates
  • Terms of up to seven years
  • Existing members could save on rates

Personal loans

As well as car loans, NRMA offer personal loans to finance everything from elective surgery to weddings.

As with its car loan options, there are several benefits including:

  • Quick and easy application process
  • No hidden monthly fees
  • Low fixed interest rates
  • Terms of up to seven years
  • Flexible repayment options including monthly, fortnightly and the ability to make extra payments
  • Fund available the next working day after paperwork is complete