Sharesies and Cove Promotional Terms and Conditions
Last updated: Monday 6 May 2024
Welcome to Sharesies Car Insurance by Cove. Before we get started though, there’s some important information you need to know about the promotional terms and conditions.
Upfront discounts available for Sharesies customers
Cove Partner promotion
Cove has agreed to this discount for Sharesies customers as a benefit of teaming up with them. It is intended as a one-off saving for a long term policy holding with Cove.
To qualify: Have an active Sharesies account and purchase a Cove policy through Sharesies.
The discount: 1 month of free premiums, capped at $100 per month, per policy. This is applied to the first month for monthly policies and pro-rata for an annual policy.
This can only be used once per risk per customer. It does not apply every month or every year.
Promotion interactions: this promotion stacks with ongoing available discounts like the multi-policy discount and the annual payment discount (set out below) and the 5% discount for Sharesies Customers.
5% discount for Sharesies customers
Cove offers this discount to Sharesies customers as an additional benefit of Sharesies teaming up with Cove.
To qualify: Have an active Sharesies account and purchase a Cove policy through Sharesies.
The discount: A 5% discount applied to the total price of the policy (excluding the Fire Services Levy and the GST on the levy). This discount is applied before the free month is calculated.
Promotion interactions: This promotion stacks with the ongoing additional discounts like the multi policy discount and the annual payment discount (set out below) as well as the Cove Partner promotion.
Additional discounts available
Annual policy discount
To qualify: select the annual policy type when purchasing your Cove policy through Sharesies.
The discount: a little under 10% off, as an ongoing discount compared to the monthly policy. We say ‘a little under’ because Cove can’t discount the Fire Services Levies for car insurance (these are fixed by the Fire Services) and the GST on the levies.
Promotion interactions: this promotion stacks with ongoing discounts like the multi-policy discount and any allowable combination of upfront discounts.
Multi policy discount
Eligibility criteria: To qualify for the multi policy discount you must do both of the following:
Hold more than one policy with Cove on the same email account. Policies held by the same person or related persons under different email accounts do not qualify.
Correctly follow the instructions in '4. What you need to do'.
The discount: a little under 10% off, as an ongoing discount. We say ‘a little under’ because Cove can’t discount the Fire Services Levies for car insurance (these are fixed by the Fire Services) and the GST on the levies. This discount can change from time to time and without prior notification. The discount applies to each and every policy on the account where the instructions are followed in section '4. What you need to do' and the eligibility criteria are met in 'To qualify for the multi policy discount'.
Promotion interactions: this promotion stacks with ongoing discounts like the annual payment discount and any allowable combination of upfront discounts.
What you need to do:
When you buy a new policy:
You will need to answer the question “do you intend to hold more than one policy with Cove” as “Yes” when you set up your new policy, and
You will need to add a second policy within 30 days and continue to hold it on day 30. Or already have an existing policy with Cove.
Conversely if you answer “Yes” and hold only 1 policy after 30 days Cove will remove the discount. In the event of a yearly policy, this will mean collecting additional premium as described in the section “Multi-policy discount” in the policy wording. Cove will collect payment using the credit or debit card they have saved on file for you.
B. Renewing policies:
There is nothing you need to do on renewal as Cove will calculate and apply the discount for you.
Cove will calculate your renewal terms 45 days prior to your renewal date. Therefore, if you add a policy within 45 days of your renewal date this may not be included in your policy count. In this case you will need to contact Cove to recalculate your renewal and include the discount. You will be able to see your multi-policy discount status on your policy schedule. If you do not tell Cove about the second policy, your discount will not apply until the following renewal (if eligible).
5. How Cove calculates and applies the discount (eligibility testing)
The policy will be tested for eligibility and the discount applied as follows:
At new business on a self-reported basis as above;
45 days prior to renewal as described above; and
At any mid-term adjustment.
If your policy count changes, Cove will not update your multi-policy discount status on other policies until there is a transaction as listed above.
General terms
Unless explicitly stated in these terms, only one promotion can be used per policy.
Cove has the absolute discretion to cancel policies or remove/reverse discounts if Cove notices any activity that Cove believes is abusive, fraudulent, or in violation of the intent of the promotion or the Cove Terms of Service. Cove reserves the right to review and investigate all invite activities and to suspend users or modify discounts in its sole discretion, as deemed fair and appropriate by Cove.
Cove can update these terms at any time without prior notice. If Cove modifies these terms, Sharesies will post the modification on the Sharesies website, which are effective immediately upon posting, unless otherwise stated. Continued participation in the relevant promotion after any modification shall constitute consent to such modification.
If for any reason you believe that there is a discrepancy regarding your Discount, please contact Cove. Cove may require you to submit additional information in order to make a determination regarding your balance. All decisions regarding your balance will be final and at Cove’s sole discretion.
You are responsible for any tax consequences, if any, that may result from discounts applied. Where applicable, Cove may be required to account for GST and levies on any services for which a Discount has been applied.
Refunds are not applicable to the discounted portion of policy premiums. For example, Cove normally refunds the premium paid if the policy is cancelled within 14 days, provided no claim has been made. If this was a $120 policy paid with a $100 discount and $20 cash, a refund of $20 would be applicable. The $100 discount would be forfeited in this example.
If any provision in these terms are held to be invalid, void, or unenforceable, such provision (or the part of it that is making it invalid, void or unenforceable) will be struck out and not affect the validity of and enforceability of the remaining provisions.
Have questions?
If you have any questions, concerns or comments about the Promotions applicable to Sharesies customers, please contact Cove by either:
Visiting Cove online at www.coveinsurance.co.nz;
Emailing Cove at support@coveinsurance.co.nz; or
Calling Cove on 0800 COVEHQ.