Enthusiast Target Market Determination

This product is only authorised for distribution by Enthusiast Underwriting Pty Ltd via:

• Enthusiast phone line by calling 1800 10 10 44; and
• Enthusiast website by visiting enthusiast.com.au.
• E-mailing: Motor@enthusiast.com.au

Enthusiast is obligated to undertake steps that will, or are reasonably likely to, result in distribution being consistent with this TMD.

The distribution of the product may involve Enthusiast dealing with a licensed broker on behalf of a customer.

The Enthusiast employees have been trained to understand the market this product has been designed for and possess knowledge relevant to the underwriting acceptance criteria.

Risk-based decisions are made to determine the acceptance criteria for insurance cover that may be offered to a customer.  Distribution of the products is restricted to customers that meet the underwriting acceptance criteria which makes it likely that consumers that purchase the product are in the target market.  Key acceptance criteria are:

• Declared Drivers only; must be legally licensed to drive within Australia;
• The claims, traffic and criminal history of all Declared Drivers;
• The age of the Declared Drivers;
• Use purpose of the vehicle;
• The Nominated Annual Distance Driven selected;
• The make/model and value of the vehicle;
• The age and condition of the vehicle and any modifications fitted to the vehicle;
• The location address where the vehicle is to be stored daytime or overnight;
• How the vehicle is stored at the location address daytime or overnight.

This product is designed to respond to the likely objectives, financial situation and needs of Customers who want to:

• Be covered against the financial loss from an incident involving their vehicle and are willing to select an appropriate level of cover relevant to their own circumstances; and
• Protect themselves (and the driver of their vehicle) against liabilities for accidental damage or destruction caused to another person’s property, arising from the use of their vehicle.
• Are able to pay premiums in accordance with the chosen premium structure, and any excess in the event of a claim in accordance with the chosen excess option.
• Are seeking coverage that provides a competitive premium for rarely or less often driven vehicles, nominated annual distance driven usage and Named/Listed drivers.
• Own or drive a car/vehicle, for Private/Restricted-Historic/Laid Up/Business use.
• Want to have the choice of their own repairer.
• Requiring cover for an Agreed Value sum insured for Own Loss or Damage to their vehicle.
• Have vehicles that are 15 years or more in age that wish to purchase Salvage Rights benefits (refer PDS for more information).
• Have brand new to vintage -cars/vehicles, classics, collectibles, family memento’s, Grey or Private Imported, Historic vehicles, Motorcycles, Modified, or 4WD vehicles.
• Want policy benefits or options and the ability to customise coverage to suit their needs.
• Have vehicles in restoration/storage that are a short term or long term project or vehicles that are unregistered and not driven, for which we offer Laid Up Cover (refer PDS for more information)

This product is not suitable for:

• Any motor vehicle/s driven outside of Australia or any People who are not licensed to drive/operate a vehicle in Australia.
• People that are not able to list all drivers that they want covered, as the product does not cover unnamed or unlisted drivers. (refer PDS for more information)
• Vehicles driven unlawfully, not legally modified or are in an unsafe or unroadworthy condition.
• Business use vehicles, driven daily, that are used for hire, fare or reward, trade, courier services (refer PDS for more information) or are part of stock in trade or consignment.
• Vehicles that are parked on the street, as this product does not provide cover for vehicles that are street parked overnight at the usual residence.
• Motorcycles ridden more than 8,000 kilometres per year, not parked within a secured garage or home, ridden by persons under the age of 30 years and/or are not licensed to ride a motorcycle.
• Courtesy cars, taxis, or autonomous driving vehicles.

This product is designed to respond to the likely objectives, financial situation and needs of Customers who:

• Want to be covered against financial loss having caused damage to other people’s property, not their own, and are willing to select an appropriately restricted level of cover relevant to their own circumstances.
• Are able to pay premiums in accordance with the chosen premium structure, and any excess in the event of a claim in accordance with the chosen excess option.
• Are looking for coverage for financial loss protection, having caused damage to other people’s property and not their own vehicle.
• Own a vehicle used for private usage primarily used on road, seeking a reduced/limited cover, to suit their financial needs.
• Do not need cover for fire, theft, loss or own damage caused to their vehicle.
• Require cover for cleaning up costs and removal of any debris, having caused damage to other people’s property.

This product is not suitable for:

• Persons requiring cover for fire, theft, loss or damage caused to their own vehicle.
• Vehicles that are under security for a financial product, such as a secured personal loan, car loan.
• People that are not able to list all drivers that they want covered, as we do not cover unnamed or unlisted drivers. (refer PDS for more information)

This TMD shall be reviewed within each 2 year period from the effective date shown herein to ensure it remains appropriate.

This TMD will also be reviewed within 10 days of becoming aware that an event or circumstance (review trigger) has occurred that reasonably suggests that the TMD is no longer appropriate, such as:

• A material change is made to the cover provided by the product;
  • A change in acceptance criteria impacting the suitability of the product for the target market;
• A material change to the distribution of the product;
• The discovery of a relevant and material deficiency in the product’s disclosure documentation;
• Systemic complaints and claims issues which indicate that the product is no longer suitable for the target market;
  • Material and relevant reductions in our key product suitability metrics such as:
  • Client satisfaction,
  • Product acceptance,
  • Financial performance,
  • Benefits to clients,
  • Product value and affordability;
• The identification of a significant dealing.