What are my payment options?
Option 1: Paying the full annual premium upfront
Option 2: Paying your premium in instalments
Changes to paying your premium in instalments from 1 July 2023
For new and renewing policies beginning 1 July 2023, the following changes apply:
- You must provide odometer readings by emailing a copy of your annual eSafety Inspection Report to the Allianz taxi team. If you don’t supply the report, you won’t be eligible for a refund
- We’ll only pay refunds for vehicles that travel a low number of kilometres at the end of each period of insurance. See Table 1: How premiums are calculated for payment by instalment
- You must make instalment payments directly to us by credit card either or over the phone on
- Your vehicle’s registration will be suspended if you don’t make payment by the instalment due date
Select the instalment payment option
Make sure you let us know when buying or renewing your policy that you’d like to pay your premium in instalments.
You’ll need to pay upfront either:
- a third of the full annual premium amount for Metropolitan taxis or
- half the full annual premium for non-Metropolitan taxis
Submit your eSafety Inspection Report to us
After buying or renewing your policy, email a copy or photograph of your eSafety Inspection Report to the . The report must be from an approved Authorised Inspection Station and must clearly show your vehicle’s odometer reading.
You must send your report to us as soon as you can to be eligible for a refund at the end of your policy period.
Pay your instalments on time
We’ll send you a notice requesting payment of each instalment as it falls due. You must make your payment directly to us either online or over the phone on .
If you don’t pay by the due date shown on your instalment notice, your vehicle’s registration will be suspended.
Submit your next eSafety Inspection Report to us
To renew your vehicle’s registration at the end of your period of insurance, you’ll need to complete your next eSafety check.
You can email this report to the so we can determine if you’re owed a refund on your premium. We’ll also use it to record the starting odometer reading for your next period of insurance if you want to continue to pay in instalments.
How premiums are calculated for payment by instalments
The premium you pay is made up of three parts: a minimum premium amount, the annual Fund Levy, and a final component that is based on the number of kilometres travelled.
If your vehicle has travelled less than the annual kilometre allowance shown in Table 1, you may be eligible for a refund shown in the table. We’ll use the eSafety Inspection Reports you submit at the start and end of your policy period to calculate the number of kilometres travelled.
If you travel more than the annual allowance, you won’t be eligible for a refund and the total premium you pay will be equal to the full annual premium. This is the same as the premium you would be charged if you chose to pay your premium upfront.
Table 1: How premiums are calculated for payments by instalments
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|Instalment frequency||Every four months||Every six months|
|Full annual premium||$5,220||$3,318|
|Annual kilometre allowance||73,000km||69,000km|
|Refund subject to minimum premium amount||6.5 cents for every kilometre travelled under the annual allowance||4.3 cents for every kilometre travelled under the annual allowance|
Example: How paying by instalment works for a Metropolitan taxi
Beginning of policy: 1 August
- Pay 1st instalment
- Submit eSafety Inspection report
- Odometer reading: 200,000km
End of first instalment period: 1 December
- Pay 2nd instalment
End of second instalment period: 1 April
- Pay 3rd instalment
End of policy: 1 August
- Pay 1st instalment for renewing policy
- Submit eSafety Inspection report
- Odometer reading: 250,000km
How we calculate your premium at the end of your policy period*
Refund: (73,000km – 50,000km) x 6.5 cents = $1,495
Total premium paid: $5,220 - $1,495 = $3,725
Frequently asked questions
If your policy started before 1 July 2023 and you chose to pay in instalments, you can continue to follow the process that was in place when you started that policy. The new process will apply from your next policy renewal.
The key points of the process are:
- Continue to pay for your instalments when you receive them by the due date. These instalment amounts will remain unchanged. You can or by calling .
- If you want your premium adjusted after each instalment payment, you must have your taxi inspected and odometer read and recorded in the SIRA portal no more than 28 days before the due date of the instalment.
- We’ll then calculate if any additional premium is owed – or if a refund is owed to you – based on how many kilometres were travelled by your vehicle in the previous four months.
- You’ll receive an adjustment notice about two weeks after your instalment’s due date. If additional premium is owing, you’ll have two weeks to pay.
- At the end of your period of insurance, you’ll receive a renewal notice. If you choose to continue to pay in instalments, then you’ll need to follow the new process.
If you don’t make payment for your instalment premium by the due date, we’ll have to suspend your vehicle’s registration. If you don’t make payment within 14 days of the suspension date, your registration will be cancelled. If you make payment after your vehicle’s registration has been suspended, you’ll need to pay a fee to lift the suspension. This fee is set by Transport for NSW.
It’s illegal for you to operate the vehicle while your registration is suspended or cancelled. Driving a suspended or unregistered vehicle on a road or road-related area in New South Wales is an offence that carries a maximum penalty of $2,200.
Once the registration is cancelled, your vehicle won’t be covered by Compulsory Third Party insurance. Amounts paid as compensation for death or injury arising from the use of the uninsured vehicle may be recovered from you.
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Any advice here does not take into account your individual objectives, financial situation or needs. Terms, conditions, limits and exclusions apply.
Allianz Australia Insurance Limited ABN 15 000 122 850 AFS Licence No. 234708 is the insurer of any general insurance products offered on this website.
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