Fully Maintained Novated Lease - Car Insurance – What Can I Claim?
If you have a fully maintained novated lease, you may be able to claim reimbursement for eligible comprehensive car insurance costs relating to your leased vehicle. To be eligible, the insurance policy must be linked to the leased vehicle and the expense must be incurred during the active lease period. Insurance purchased up to seven days before the lease settlement date is also eligible.
What you can claim
- Comprehensive insurance premiums for your leased vehicle, provided eligibility requirements are met.
- Insurance policies taken out during the active novated lease period.
- Insurance policies purchased up to seven days before lease settlement.
- Insurance excess payments that relate to the leased vehicle.
What you can't claim
- Insurance costs for a vehicle that is not covered by your novated lease.
- Insurance policies that were in place before the vehicle was novated, including sale and leaseback arrangements.
- Insurance expenses incurred outside the active lease period, unless they fall within the seven-day pre-settlement allowance.
- Expenses that cannot be supported by appropriate documentation or clearly linked to the leased vehicle.
- Traffic infringements, fines, penalties, road tolls, or parking costs.
Documentation Requirements
To support a reimbursement claim, you may be required to provide:
- The insurance schedule or tax invoice identifying the insured vehicle
- Evidence of the premium or excess amount payable
- Proof of payment
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Examples
Can I claim insurance that started a few days before my lease settled?
Michael purchased comprehensive insurance five days before his lease settlement date. As the policy was taken within seven days of settlement and relates to the leased vehicle, Michael can claim the insurance expense.*
Can I claim an insurance excess payment following an accident?
Priya paid an insurance excess after making a claim for damage to her leased vehicle. Because the excess relates directly to the leased vehicle, Priya can claim this expense.*
Can I claim insurance for my partner's vehicle?
Daniel has a fully maintained novated lease but wants to claim insurance for a different vehicle registered to his partner. Daniel cannot claim this cost because it does not relate to the leased vehicle.*
Can I claim a policy I held before the vehicle was novated?
Emma had an insurance policy in place before entering into her novated lease. Pre-existing insurance policies cannot be claimed under the lease arrangement.*