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What is financial hardship?
Financial hardship is when you want to pay your bills, but don’t have the means to because of unexpected events or circumstances.
Sometimes things happen that are beyond our control which can make it difficult to keep up to date with paying bills or making loan repayments.
If you need financial hardship support with any of your RACV products, we’re here to help in any way we can.
Situations that may cause hardship
- injury or illness
- natural disasters, like bushfire or flood
- sudden reduction of income or unemployment
- domestic violence or financial abuse.
Support for insurance and subscriptions
Discuss your options
Call or email us to discuss your options. We'll ask you some questions about your policy or subscription to come up with a plan.
Then we’ll update your account. If you find you need more support later, you can always get in touch with us again.
Premiums and subscriptions
If you are experiencing difficulty paying your premium or subscription we can discuss options with you. These may include:
- changing from annual to monthly payments
- offering flexible excess amounts on some policies.
There are no cancellation fees to cancel your insurance policy.
Claims
If you are experiencing financial hardship in relation to an insurance claim RACV Insurance can review your situation and discuss options with you.
These may include:
- deducting the excess payment from your claim settlement
- extending your payment due dates
- developing a payment plan with you.
Support for RACV Finance loan repayments
How it works
If you need financial assistance, or are having difficulty in meeting your loan obligations, all you need to do is give us a call on 13 15 60, Option 4 and one of our consultants will be happy to assist.
Types of support
If you are struggling to make your loan repayments, we can review your situation and discuss options with you.
These may include:
- extending your loan term
- adjusting monthly repayment amounts
- temporarily deferring a repayment
- arrears capitalisation.
What to do if you’re not satisfied with the outcome
If you’re not satisfied with the assistance provided or don't feel like a fair and prompt resolution was reached, you can get in touch with us.
You can contact us via email or phone.
Frequently asked questions
You’re eligible for support if you have an RACV product or subscription and are currently experiencing financial hardship because of unexpected events or circumstances, such as:
- injury or illness
- natural disasters, like bushfire or flood
- sudden reduction of income or unemployment
- domestic violence or financial abuse.
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Yes, your policy is still current and you’re covered if an incident occurs.
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No, your renewal date does not change. You have an additional 14 days to pay your premium.
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If you are experiencing financial hardship in relation to an insurance claim or need support to make a claim, please get in touch.
Call RACV Insurance on 13 19 03
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We’re here to assist you at any time. If you need help at a later date, you can contact us to discuss your options. Call us on 13 72 28.
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No, your membership won’t be impacted. If you seek financial assistance, you will still be able to access RACV products, services and associated Member offers and discounts.
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If you’re experiencing financial hardship and are in urgent need of support because of an insured event, like a natural disaster, we’re here to support you. For example, RACV Insurance may be able to speed up the assessment of your claim to help finalise it sooner.
To discuss your options, call us on 13 72 28.
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Other support services
1800 RESPECT
This service provides confidential family and domestic violence counselling and support.
Access support 24 hours a day, 7 days a week.
Lifeline
This service provides support and suicide prevention for Australians experiencing a personal crisis.
Access support 24 hours a day, 7 days a week.