How Bankwest Handles Insurance Today
If you are looking to protect your new car, house, or upcoming holiday, you might naturally check with your everyday bank to see what policies they offer. In the past, Bankwest distributed a wide range of standalone insurance products, but the bank's approach has recently shifted. Currently, Bankwest no longer sells new home, landlord, car, or life insurance policies directly to customers. If you hold an existing policy that was previously distributed by the bank, it is still active and managed directly by the underwriters, such as Hollard or Hallmark Insurance.
Today, the primary insurance service you can access through Bankwest is complimentary overseas travel insurance. This cover is automatically attached to eligible premium credit cards, rather than being sold as a separate standalone product. Understanding exactly what this covers and how to use it can save you from buying an unnecessary separate policy before your next international trip.
| Category | Details |
|---|---|
| Available Insurance | Complimentary overseas travel insurance via Cover-More |
| Standalone Policies | New home, car, and life insurance are no longer sold |
| Eligibility | Bankwest Platinum or World Mastercard cardholders |
| Key Requirements | You must be an Australian resident and typically under 80 years old |
Troubleshooting Common Insurance Coverage Issues
Sometimes travel insurance doesn't work out exactly as you planned. Here is how to handle the most common coverage roadblocks:
- Pre-existing medical conditions: You might assume you're fully covered for an upcoming trip, but basic complimentary policies often exclude pre-existing health issues. This means a related hospital visit overseas might be rejected. Before you fly, you'll need to contact Cover-More for a medical assessment and usually pay a premium to add enhanced cover to your policy.
- Age limit restrictions: If you or a traveling family member are 80 years or older, the automatic complimentary cover generally does not apply. You won't be able to rely on the credit card insurance in an emergency. You'll typically need to call the insurer to get a personal quote for a specialized senior policy, or purchase standalone cover from a different provider.
- Missing documentation for claims: You might try to claim a stolen camera when you return home, but the online portal rejects your submission. This usually happens if you don't have a written police report or original receipts. Insurers require strict proof of the event. Always secure written reports from local authorities or medical staff while you are still overseas, and call the emergency assistance line right away so they can guide you on what paperwork to collect.
Pro-Tip: Even though the complimentary travel insurance doesn't require formal activation, it’s highly recommended that you screenshot your policy number and the 24/7 international reverse-charge assistance numbers before you board your flight. Keeping these details saved in your phone's photo gallery means you can get immediate medical guidance or financial help even if your physical credit card and wallet are stolen.
Frequently Asked Questions
Does my credit card insurance cover my family too?
In most situations, your complimentary travel insurance extends to your spouse and dependent children, provided they are traveling with you on the same itinerary for the entire trip. However, they must also meet the standard eligibility criteria, such as the under-80 age limit and the requirement to start the journey in Australia. If your teenager is taking a gap year and flying out on a separate flight, they usually won't be covered under your card and will need their own policy.
Can I buy standalone car or home insurance through Bankwest?
No, Bankwest no longer distributes new personal insurance policies for your car, home, or rental property. If you try to find a quote tool on their website, you will be redirected. If you are a new customer looking for this type of coverage, you will generally need to seek out a specialized third-party insurance company or speak with a broker to find a policy that fits your needs.
How long does the complimentary travel cover last?
This depends entirely on the specific tier of your Bankwest credit card. If you hold a Platinum Mastercard, your trips are typically covered for a maximum of 31 consecutive days. If you hold the higher-tier World Mastercard, that cover extends up to 6 consecutive months per trip. If your planned holiday runs longer than your card's limit, you'll need to contact Cover-More before you leave to purchase a policy extension so you aren't left unprotected halfway through your journey.
