Praetorian Insurance Company Auto and Boat Policy

Praetorian Insurance Company is one of the most recent additions to QBE Insurance Group Limited. The parent group operates in more than 38 countries worldwide and hires more than 16,000 employees. As one of the subsidiaries, Praetorian offers the same types of coverage as its parent. Product diversification has become a business strategy in QBE yet standardization of services plays major role in its operation. The following coverage includes Personal Insurance for Car, Caravan, and Boat categories available from Praetorian Insurance Company.

  1. CAR INSURANCE

Praetorian Insurance Company provides five different types of coverage; each with different level of protections as you can see in the following table.

Level of Coverage Drivers Protection Accidental Damage Fire Theft Legal Liability
Comprehensive Anyone Yes Yes Yes Yes
It is a complete protection that covers anyone who drives your car. It provides protection for legal liability for damage to other’s property and car. It also covers against accident, theft, and fire.
Comprehensive with dominant driver Anyone with minimum age of 24 years Yes Yes Yes Yes
It offers similar protections as Comprehensive, but the premium is less if you are 24 years old or older. Anyone younger than that should not drive the car.
Comprehensive plus another driver Main driver and another Yes Yes Yes Yes
It provides the same level of protection as Comprehensive, but less expensive when there are no more than two drivers. The main driver should be at least 21 years old, and the other driver should be at least 19 years old.
The third party only Anyone  No   No   No Yes
It covers damages to other people’s property or car, but there is no protection for yours. This policy includes benefits of the no-insurance motorist.
Third party plus fire
and theft
Anyone No Yes Yes Yes
An extension of Third Party Only policy with additional protections in case of fire and theft

All levels of protections come with additional benefits. There are optional protections, so you can choose to include or not to include these benefits depending on your personal preference. The optional benefits are as follows:

  • 4-Year replacement: insurance for a brand new car has the benefits of total replacement within the period of the first four years or 100,000km.
  • No Claim Bonus (NCB) Protection: NCB is a discount for making no claim during the period of the policy. In case you file one claim, this benefit protects your eligibility for the discount.
  • Lifetime No Claim Bonus Protection: retaining a maximum NCB for two years makes you eligible for lifetime NCB protection. With this protection, the NCB is intact even if you make at-fault claims during the period of the policy.
  • Rental Reimbursement: following an accident where your car has to go to a repair shop, the company covers the cost of a rental car for up to 14 days.
  • Window Glass and Windscreen protection: replacement for window glass and the windscreen is free of charge.

All types of coverage for car insurance should comply with the state’s rules. Every state has different regulations concerning limit, minimum liability coverage, and proof of financial responsibility. Levels of protection from Praetorian Insurance Company are additions to the state minimum requirement, so consumer always complies with the law.

  1. CARAVAN INSURANCE

If you use your caravan as often as you use a car, it deserves the same amount of protection as your other vehicles and possessions. Praetorian Insurance Caravan Coverage comes only in Comprehensive Policy, but it has two different packages.

Comprehensive Policy is the only option in existent for Caravan protection, yet it has multiple optional benefits you can purchase. Because these are optional, you do not have to purchase all as a bundle, but choose one or more that suits your needs:

  • Caravan cover replacement
  • Alternative accommodation coverage
  • Coverage for contents
  • Legal liability coverage of up to $30 million
  • Lifetime repairs guarantee
  • Towing cost coverage after an accident
  • Awning coverage

The head office of QBE Insurance Group is Australia. Some types of caravan coverage are available throughout the country, but they may not be available in your country or region. Your insurance agent can help you find out whether certain coverage is available for your needs.

  1. BOAT INSURANCE

Besides providing insurance policies for land transportation vehicles, Praetorian Insurance Company also underwrites policies for marine transportation including the boat. Compared with cars or caravan, the insurance perils for the boat are more unpredictable because it may involve a sudden change in weather and the wind. The Standard Boat Insurance Policy includes legal liability coverage and personal accident for boat owner and anyone you allow to control your boat. It also gives protection against theft and loss. On top of the Standard choice, there are four more packages available as follows:

Yacht Racing Risk

  • This is an extension for Standard Policy that covers damages or loss in the event of racing. It is available also as Yacht Club Social Racing Risk Extension
Water Skier or Aquaplaning

  • An extension for Standard Policy that provides legal liability coverage while aquaplaning or waterskiing behind your boat
Tender or Dinghy

  • For any boat that is capable of going at more than 20 knots, this extension is available to cover tender or dinghy
Sports Equipment

  • An extension for Standard Policy to cover accidental damage or loss of sports equipment when not in use

Boat Insurance Coverage including the Standard and every Extension comes with some optional benefits to extend the protection:

  • Legal Liability Coverage is available in choices of $5 million, $10 million, or $20 million.
  • Malicious and Accidental Damage Protection
  • Personal accident including coverage for permanent or temporary disablement
  • Clean up cost
  • Wreck removal or recovery of wreck
  • Damage during or due to transit

Similar to Car and Caravan coverage policies, Boat Insurance covers boat in Australian Water, but they may be available in other countries. Please visit a local subsidiary or call your insurance agents to make sure of availability.

FlexAuto
Although it is clear that Praetorian Insurance Company offers the same types of coverage as its parent group, this company works in a different country; QBE is in Australia while Praetorian is working under QBE North America. Differences in rules, coverage limits, and eligibility for discounts are inevitable. In the North America division where Praetorian Insurance Company resides, auto insurance offers FlexAuto program. It includes many ways to save money on premium depending on personal driving behavior. The company reviews and considers driving record and other characteristics to determine if a driver deserves rewards and the most competitive rates. The price for an insurance policy is, therefore, different between individuals. Apart from good driving records, FlexAuto program offers the following discounts and coverage:

FlexAuto
Discounts Coverage Optional Coverage
·         Good student discount

·         Violation free or Accident-free discount

·         Proactive consumer discount

·         Multi-policy discount

·         Longevity discount

·         Bodily Injury

·         Personal Injury Protection

·         Physical Damage

·         Protection against motorist with low to none insurance

·         Towing and labor

·         Transportation expense

·         Audiovisual equipment

Accident Forgiveness Program
If a customer has had four years of continuous coverage with the company, he/she is eligible for accident forgiveness program. In case an accident happens to the customer or a member of the household, there will be no surcharge of the premium. For any accident in which the client or a member of his/her household is at fault, the minimum period is three years.

Payment options
Praetorian Insurance Company provides easy payment access including online, electronic funds transfer, and credit card billing.