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, 279KB).

  • 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, 279KB).

  • 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

Included insurance covers: AWP Australia Pty Ltd ABN 52 097 227 177 AFSL 245631 (trading as Allianz Global Assistance) under a binder from the insurer, Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 has issued a number of insurance group policies to National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian credit licence 230686 (NAB) which allows eligible NAB cardholders to claim under them as third party beneficiaries. Access to the benefit of cover under the NAB card insurances is provided to eligible NAB cardholders 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.

On-sale cards
For cardholders of Premium, Platinum and Signature tier cards, there are seven included insurance covers: overseas travel, interstate flight inconvenience, transport accident, domestic hotel burglary, extended warranty, price protection and purchase protection. 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, 439KB) which may be amended from time to time. For insurable events that occurred prior to 1 September 2019, please refer to NAB Card Insurance Policy Information Booklet dated 1 November 2018 (PDF, 477KB). NAB does not guarantee this insurance.

For cardholders of the NAB Low Fee Card, 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 (PDF, 279KB) which may be amended from time to time. NAB does not guarantee this insurance.

Off-sale cards
For cardholders of the NAB Premium Card, NAB Velocity Premium Rewards Card, NAB Low Rate Platinum Card, NAB Qantas Plus Card, NAB flybuys Rewards Cards and the NAB Visa Gold Debit Card, , there are seven included insurance covers: overseas travel, interstate flight inconvenience, transport accident, domestic hotel burglary, extended warranty, price protection and purchase protection. 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, 439KB) which may be amended from time to time. For insurable events that occurred prior to 1 September 2019, please refer to NAB Card Insurance Policy Information Booklet dated 1 November 2018 (PDF, 477KB). NAB does not guarantee this insurance.

For cardholders of the NAB Rewards Classic Card, NAB Velocity Rewards Card, NAB Qantas Rewards Card and NAB Visa Mini Card, 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 (PDF, 279KB) which may be amended from time to time. NAB does not guarantee this insurance.