What is purchase protection insurance?

Purchase protection insurance is coverage for loss, theft or accidental damage to, a new personal item within three (3) months of the purchase.

As a NAB standard or classic cardholder you’re covered with purchase protection insurance for eligible purchases (excludes NAB Low Rate cardholders).

What you need to know

To be eligible, you need to pay for your personal items in full on your eligible NAB card.

Who's covered?

If you’re eligible, your cover is automatically extended to anyone who’s been given the goods purchased as a gift.

What's covered?

Below you’ll find a snapshot of what’s covered. For the full list and any limits and excesses that apply, please read the policy information booklet (PDF, 307KB).

  • In a single claim: The actual purchase price of the item(s).
  • In a single claim for jewellery, watches and fine arts: $2,500 in total.

The most we’ll pay for all claims in a 12-month period is $100,000.

What's not covered?

Below you’ll find some key examples of what’s not covered. For the full list and any limits and excesses that apply, please read our policy information booklet (PDF, 307KB).

  • Cover for loss or damage arising from flood, earthquakes, wear and tear, fraud or illegal acts.
  • Cover for items left unattended in a public place, or in an unlocked motor vehicle, or in an unattended motor vehicle overnight.
  • Theft or loss or damage to jewellery and watches from baggage unless hand carried by you, animals or plant life, cash or travellers cheques, consumable or perishable items.

Important information

AWP Australia Pty Ltd ABN 52 097 227 177 AFSL 245631, trading as Allianz Global Assistance (AGA), under a binder from the insurer, Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 (Allianz), has issued an insurance group policy to National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian credit licence 230686 (NAB) which allow eligible persons to claim under them as third party beneficiaries. Access to the benefit of cover under the NAB card insurances is available to eligible NAB cardholders and other eligible third party beneficiaries by operation of s48 of the Insurance Contracts Act 1984 (Cth).

Any advice on insurance is general advice only and not based on any consideration of your objectives, financial situation or needs. You must check whether or not it is appropriate, in light of your own circumstances, to act on this advice.

This insurance is underwritten by Allianz. NAB is not the product issuer or insurer and neither it nor any of its related bodies corporate guarantee any of the benefits under this cover.

If an eligible person wishes to claim any of these benefits, they will be bound by the eligibility criteria, terms, conditions, limits and exclusions contained in the insurance information booklet.

For cardholders of Premium, Platinum and Signature tier cards (and certain other cards that are no longer for sale, as listed in the policy information booklet), there are six included insurance covers: international travel insurance, interstate flight inconvenience insurance, transit accident insurance, rental vehicle excess in Australia insurance, purchase protection insurance and extended warranty insurance. The eligibility criteria, terms, conditions, limits and exclusions of the group policy are set out in the NAB Card Insurance Policy Information Booklet dated 31 March 2021 (PDF, 489KB), opens in new window which may be amended from time to time. For insurable events that occurred prior to 31 March 2021, the eligibility criteria, terms, conditions, limits and exclusions of the group policy are set out in the NAB Card Insurance Policy Information Booklet dated 1 September 2019 (PDF, 438KB), opens in new window.

For cardholders of the NAB Low Fee Credit Card and the NAB VISA Debit Card (and certain other cards that are no longer for sale, as listed in the policy information booklet), there is one included insurance cover: purchase protection. The eligibility criteria, terms, conditions, limits and exclusions of the group policy are set out in the NAB Purchase Protection Insurance Policy Information Booklet dated 31 March 2021 (PDF, 307KB), opens in new window which may be amended from time to time. For insurable events that occurred prior to 31 March 2021, the eligibility criteria, terms, conditions, limits and exclusions of the group policy are set out in the NAB Purchase Protection Insurance Policy Information Booklet dated 1 September 2019 (PDF, 279KB), opens in new window.