The issuer of Optus Device Protect is Optus Insurance Services Pty Ltd for which Optus Mobile Pty Ltd is acting as an authorised representative.
You are obtaining insurance for the insured device for $14 per month (if you have a Standard Device) or $19 per month (if you have a Premium Device), which includes GST. You can cancel your cover at any time and only pay premiums up to the date of cancellation.
If you purchased your device, please note that we reserve the right not to offer renewal of your monthly policy, including if we believe you have engaged in fraudulent conduct, a breach of the duty of utmost good faith or if your claims history indicates an unacceptable risk.
If you are leasing your Device, there is a limit of two loss or theft claims during the term of your policy.
If you lease the device, the monthly payments are equal instalments of the $336 total premium (for a Standard Device) or $456 total premium (for a Premium Device) for 24 months' cover. You won't have to pay any further instalments if your lease ends
If you lease a device, that device and any replacement provided by Optus Mobile Pty Ltd to you in response to a claim is owned by Optus Mobile Pty LtdInsurance cover is subject to the terms and conditions contained in the Product Disclosure Statement
If you take out insurance today, your policy will start immediately with a cooling off period of 19 days, so during this time you may cancel your policy without paying any premiums, as long as you've not made a claim.
If you lease the device, your insurance cover will expire when your lease ends, up to a maximum of 24 months, or if any monthly premium instalment remains unpaid for 30 days
Also, just a heads up - excess charges will apply to different types of claims. A higher excess applies for Premium Devices.
If you have any questions, the customer claim unit is more than happy to help.