Who is Thunder Insurance?
Thunder Insurance Pty Ltd (Thunder) is a distributor of Thunder Electronic Device Insurance.
We are a unique and dynamic provider of insurance brokering expertise to all aspects of the gaming industry.
As gaming has become the fastest growing entertainment industry in the world, there’s been limited opportunity for those within the industry to access the necessary insurance coverage–until now.
Software development, eSports, IT consultants and events have grown both locally and overseas from grass roots development to producing world-leading titles and tournaments that can compete on a global scale.
Meanwhile, gamers and the industry at large are often under-insured.
With nearly 30 years’ combined experience in insurance and extensive knowledge of the gaming industry, Thunder Insurance can provide accurate cover to protect your assets so you can focus on what you do best.
Who is Insurance Australia Limited (IAL / IAG)?
Insurance Australia Limited (IAL / IAG) is the issuer of Thunder Electronic Device Insurance. They are the largest general insurance company in Australia and New Zealand, underwriting almost $12 billion of premium per annum, selling insurance under many leading brands.
Q. What does Thunder Electronic Device Insurance cover?
Thunder Electronic Device Insurance covers items of Nominated Property for loss or damage caused by Listed Events anywhere in Australia.
Items referred to as Nominated Property include your electronic gaming equipment such as gaming consoles, laptop and desktop computers, monitors, televisions, tablets and mobile telephones and accessories such as gaming controllers and keyboards, headphones and headsets and external hard-drives.
Listed Events include Storm, Flood, Fire, Theft or attempted theft, and Accidental Damage.
Check the PDS for more information.
Q. Do the items I insure have to be new?
Yes. You cannot insure any items of Nominated Property that are more than 180 days after purchase of those items as new. This means that You will not be able to take out a new Policy to insure any item, or add any item to an existing Policy, that is more than 180 days after purchase as new.
Q. Is there a waiting period before I can claim?
There may be waiting periods (embargoes) for specific events, as listed below:
Storm / Fire / Flood
You are not covered for any loss or damage arising directly or indirectly from Storm, bushfire or grassfire or Flood within 72 hours (or any longer period noted on the Certificate as the ‘Embargo period’) of the original commencement of your Policy or from when You increase a sum insured or cover under the Policy unless:
a) You have just purchased the item of Nominated Property and this insurance is effective from the purchase date; or
b) Your Policy replaced another policy covering the Nominated Property and there has been no break in cover.
You will not be covered for any loss or damage caused by the Listed Event of ‘Accidental damage’:
a) to any item of Nominated Property within 30 days of the original commencement date of this Policy; or
b) to an item of Nominated Property within 30 days of it being added to cover under the Policy.
Your Certificate will also show any other special conditions that apply to Your Policy.
What is my sum insured?
The sum insured is the maximum amount We will pay for loss or damage to all items of Nominated Property under your Policy. The ’Level of Cover’ You choose determines sum insured that will apply to the items of Nominated Property.
The Levels of Cover are as follows:
|Level of Cover||Type of items that can be insured||Sum insured|
|Bronze||Single console or accessories||$550|
|Silver||Consoles, tablets, mobile telephones and accessories||$2,500|
|Gold||Laptop and desktop computers, single television, consoles, tablets, mobile telephone and accessories||$5,000|
|Platinum||Laptop and desktop computers, single television, consoles, tablets, mobile telephone and accessories||$10,000|
There are limits to the amount We will pay for some items of Nominated Property regardless of the ‘Level of Cover’. Check the PDS for more details.
Q. Are my items covered anywhere in Australia?
Yes. Thunder Electronic Device Insurance covers items of Nominated Property for loss or damage caused by Listed Events anywhere in Australia.
Q. Is there a limit to the number of items I can insure?
You are limited to the sum insured on your Level of Cover. If the combined value to repair or replace your nominated items exceeds the Sum Insured on your cover, you may not be covered for all of the items. It is up to you to ensure the level of cover you select is appropriate to protect your valuables.
Your level of cover is listed on your Certificate of Insurance.
Q. How long is my policy valid for?
The length of your policy is set out in your Certificate of Insurance.
Q. What is "Nominated Property"?
These are items you nominate to insure under the policy. For example, you may nominate to insure your console, controller, and tablet. Property that is not nominated may not be covered as part of your policy.
Q. What if the item I want to insure is not listed on your website?
If there is something you want to insure that is not listed on our website, please contact us and we will see what we can do to include that item in the future.
Q. How does this product differ from traditional Contents insurance products?
Thunder Electronic Device Insurance provides comprehensive portable insurance for your electronic gaming items such as your console, controllers, laptops, desktops and/or headphones. You can select the items you want to insure.
Traditional Contents insurance products don’t always cover items outside the home unless specifically requested, and can often include non-electronic items that may impact your premium, such as jewellery.
Q. What if I buy a new item during the insurance policy period?
If you purchase an item within your insurance policy period that you want to protect (on top of your already covered item/s), you will need to nominate it on your policy.
If your new item means you require a higher level of cover (i.e. the combined value of your nominated items exceeds your maximum Sum Insured) you can cancel your existing level of cover and select a higher cover. e.g. if you have Bronze cover and buy a laptop you also want to protect, you can cancel your Bronze cover and replace it with Gold cover, which would cover both items.
You can amend your policy online.
Q. Do I need to contact you if I sell one of my insured items and replace it with another during the insurance policy period?
If the item you are replacing is the same as the original nominated item, you don’t need to notify us (e.g. replacing a PS4 Pro with a PS4 Pro).
If the item you are replacing is different to the original nominated item (e.g. replacing a PS4 Pro with a PS5), you will need to amend your policy to ensure it is covered.
You can amend your policy online.
Q. How do I make a claim?
You can lodge your claim online by clicking ‘Make a Claim’, logging in, selecting the policy you want to claim on, and clicking ‘Claim’.
Q. I need to make a claim - what's my excess going to be?
An excess is the amount that you need to pay towards each event you make a claim for on your insurance. Your excess will be shown on your Certificate of Insurance.
Q. If I pay my premium by instalments, do I need to pay the remaining instalments to make a claim?
If you pay your premium by instalments, then before we pay any claim we will deduct:
a) any Premiums that are due but haven’t been paid; and
b) all upcoming Premium instalments between the date of the claim and the end of your Period of Insurance.
Q. How are claims paid?
If your valid claim is accepted and the item is unable to be repaired, we will attempt to replace the item with an equivalent product. e.g. we will replace an unrepairable PS4 with a new or reconditioned PS4. In the event we are unable to provide a suitable replacement, we may offer a voucher (e.g. JB Hi-Fi) or cash to the current value of the item. e.g. if we cannot repair or replace your item, we will offer you a voucher or cash to the value of the current market rate, or to the value of the Sum Insured (whichever is lower).
Q. How long do claims take?
If your valid claim is accepted, we aim to have your item repaired or replaced within 14 days of acceptance.
Q. How do I check the status of my claim?
We will notify you via email as your claim progresses. You can also monitor the status of your claim online.
Buying and Renewing a Policy
Q. How can I obtain a quote?
You can obtain a quote online.
Q. What information do I need ready to obtain a quote?
You will need to know the items you want to insure.
Q. How do I pay for my premiums?
We accept credit card payments.
Q. What are my payment options?
You can pay your premium annually or by monthly instalments.
If you pay your premium by instalments and any instalment remains unpaid for a month after its due date, your policy will be automatically cancelled at the end of the one month period. If you pay your premium by instalments and your financial institution declines our direct debit request, you may be charged a dishonour fee.
Q. When will my insurance start?
Once we have accepted your application, you will be given a policy number and a Certificate. The Certificate will show when your policy starts.
Q. How old do I need to be?
Policy Owners must be at least 18 years of age. However, people under 18 can still be protected by a Policy – for example, if a parent takes out a policy on their child’s behalf.
Q. Can I insure an item for an amount higher than your maximum quoted? For example, a $20,000 laptop when the limit is $10,000.
There are limits for different item categories. However, please contact us to see if we can meet your request.
Q. What if I need help during the online quotation process?
If you need help during the online quotation process, please contact us.
Managing My Policy
Q. I need to cancel my policy. What do I do? Will I get a refund?
No problem, you can cancel your policy at any time online by selecting your policy and clicking ‘Cancel’.
Cancelling within the cooling off period – If you change your mind within 21 days of purchasing your policy and you haven't made a claim, you can cancel your policy and receive a full refund.
Cancelling after the cooling off period – You can still cancel your policy after the cooling off period. If you pay by instalments, we will not charge any further instalments from cancellation but we will not refund any instalments already paid. If you pay an annual premium, we will refund the premium for the period after cancellation.
Q. How do I reset my password?
You can reset your password online, by clicking ‘Forgot your password’, and following the prompts.
Q. How do I change my details like my contact numbers, email and address?
You can update your details online.
Q. How do I check if my policy is current?
You can check your policy online.
Q. Is my personal information secure?
Q. What do I do if I have a complaint or dispute?
We understand that occasionally issues may arise and you may have a complaint. IAL has a process through which it seeks to resolve them. Details of IAL's complaints handling process is set out in the Complaints Handling Process brochure.