We help Australians reclaim
Junk Insurance premiums that they should not have paid for.
If you have taken out a Personal Loan, Vehicle Loan, Home Loan or Credit Card in the last 30 years, you may have paid for a Junk Insurance policy you didn’t need, or don’t know about.
Get a free eligibility check with one of our friendly claims experts and leave all of the hard work to us. You don’t pay us anything unless you get a refund.
Get Started On Your Refund
What type of insurance can I reclaim?
There are 3 different types of Junk Insurance that we can help with. If you aren’t sure whether you have taken any of
these out, ask us to check for free!
Consumer Credit Insurance
(CCI)
Credit Card Plus
Credit Card Cover
Personal Loan Protection
Home Loan Protection
Guaranteed Asset Protection Insurance (GAP)
Motor Equity Insurance
Shortfall Insurance
Equity Plus Insurance
Total Loss Assist
Extended Warranty Insurance (EWI)
Mechanical Breakdown Insurance
Extended Mechanical Warranty
Why Koala Claims?
Customer Service With a Personalised Approach
Koala Claims was founded by our CEO, Ross Parkin, who previously worked for a large bank for many years, repaying Junk Insurance to Customers. Ross has seen first-hand how the mis-selling scandal has impacted the lives of regular people. He believes that Australia has not yet scratched the surface and the true extent of the issue is slowly, but surely, unfolding. Ross and his team want to help Australians reclaim what is rightfully theirs. We know how things work on the inside and we use this to our advantage.
Our promise to you
- We will assign you with a dedicated claims expert who will take the stress and hard work out of the process.
- We will provide you with regular progress updates.
- We will respond to any queries you may have on the same business day.
- We do not charge you anything, unless you receive a refund.
How it works
Our 3 step process is designed to be simple and stress-free, we do all of the hard work for you.
Step 1: Initial Consultation
Fill out the form and we will call you. We will introduce ourselves and gather some basic information then we will ask you to sign some legal stuff so we can speak to your insurance providers.
Step 2: Let Us Do The Hard Work
We manage the entire claims process for you so you don’t have to worry about dealing with your insurance providers. This includes requesting documentation, writing letters and dealing with queries.
Step 3: You Get Paid
If your claim is successful, you will receive a refund.
FAQs
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Insurance added on to personal loans, home loans, vehicle loans, credit cards and leases, which are poor value for money and unlikely to be of use. Consumer Credit Insurance (CCI), Guaranteed Asset Protection Insurance (GAP) and Extended Warranty Insurance (EWI) are different types of Junk Insurance.
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CCI was sold as an add-on insurance with credit cards, personal loans, vehicle and home loans. It is intended to cover your minimum repayments if you were unable to meet them yourself due to accident, sickness or unemployment. In the event of death, they would also repay your outstanding balance.
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GAP insurance was sold with your vehicle loan to cover the difference between what you owe and what your insurer pays out if your vehicle is written off or stolen. For example, if you owe $20k on your vehicle loan and your insurer only pays $10k when it is written off, the GAP insurance will pay the remaining $10k on your vehicle loan.
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Extended Warranty is usually purchased at the time you buy your vehicle. It is designed to cover unexpected mechanical issues with your vehicle, it was often poor value for money and could have been added without your knowledge.
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Credit cards, personal loans, home loans, vehicle loans and novated leases.
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We review your policy documents and let you know. Sometimes it has been added without your knowledge, so you may not be aware that you have it.
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As long as we have the documentation to back it up, as far as you like. Some Policies were sold as far back as the 1980s.
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Not at all! We can request the documentation we need from your provider on your behalf.
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It depends!
If you don’t have any documentation to show you have taken out insurance, we will have to request the documentation from your provider. This can take anywhere from a week to a few months.
Once we have the required documentation and we submit your claim, your provider has 30 days to provide a response. Different providers respond quicker than others.
To sum up, the process can take anything from a few weeks to 3 months (or more in some cases).
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It is difficult to say as this can vary greatly depending on how much you paid in premiums and how long the policy was active. It could be anything from hundreds of dollars to thousands. Some Junk Insurance refunds can be over $10k!
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We offer a free checking service, so if you are unsure whether you had insurance or not we can check this for you for free. If you have insurance we provide a no win no fee service. So when you win, we get paid. Our fee is 30% + GST of the total refund.
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Our process is focused on taking the hassle out of dealing with your provider whilst giving you the best Customer service possible.
1. We complete a preliminary assessment to see if you may be eligible.
2. We ask you to sign a Letter of Authority and agree to our Terms of Service.
3. We request supporting evidence.
4. We ask you about the sale of the policy.
5. We send a Letter of Complaint.
6. If successful, you will be paid the full refund, then you pay us. If unsuccessful, we may refer it to AFCA.
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Our team has extensive first-hand experience working for banks in various roles, such as complaint review, quality assurance, and refund calculations. We are now leveraging this experience to assist Australians in reclaiming Junk Insurance premiums.
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We want to help Australians reclaim money that’s rightfully theirs whilst providing the best service possible.
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We need your authority to request documents and to submit a complaint on your behalf.
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You can and you shouldn’t feel pressured into using us or any other Claims Management Company. We do the hard work for you so you can relax without the stress of having to deal with your provider.
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No, this will not affect your relationship with your financial provider.
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No, this will not affect your credit rating.
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We will only share your data for the purposes of pursuing your Junk Insurance claim. For example, we will share your data with your provider so they can identify you and review your case. We do not share your data for any other purpose.