JetSki Insurance Online :: News
SHARE

Share this news item!

Consumer Credit Insurance Decision: AFCA Rules Against Refund Request

Consumer Credit Insurance Decision: AFCA Rules Against Refund Request

Consumer Credit Insurance Decision: AFCA Rules Against Refund Request?w=400

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

An Australian man seeking a refund on his paid premium for consumer credit insurance (CCI) has been denied by the Australian Financial Complaints Authority (AFCA).
The man argued the insurance was mis-sold to him, claiming he was led to believe the coverage was essential when he acquired it with his credit card in 2015.

In contrast, AFCA found no evidence to support these claims, affirming that the insurance was offered as an optional add-on during an online purchase process. The consumer decided to stop the policy in April of the previous year upon realizing that other loans he held did not have similar coverage.

He demanded a refund of $3612 for the premiums paid, asserting that Latitude Finance, the product supplier, exploited his lack of understanding of the insurance's necessity. Latitude Finance maintained that the insurance option was transparently indicated as voluntary, emphasising the man's online purchase rather than through a direct bank interaction.

The complainant argued the optional insurance was misleadingly shown as a necessary part of the credit card application process. Despite this, AFCA highlighted inconsistencies in the complainant's statements and determined that the purchase evidence illustrated a conscious decision to opt for the insurance coverage after receiving adequate information about its nature and terms.

According to AFCA, the man was given sufficient time to comprehend the policy details and chose to add the coverage voluntarily, contradicting his claims of misunderstanding its non-compulsory nature. The decision reaffirms AFCA's stance on ensuring that financial product disclosures are clear, allowing consumers to make informed decisions.

While the ruling concludes this specific complaint, it serves as a broader reminder for consumers to carefully evaluate add-ons when purchasing financial products, ensuring they understand all contractual obligations and options available before finalising agreements.

Published:Tuesday, 4th Nov 2025
Source: Paige Estritori

Please Note: If this information affects you, seek advice from a licensed professional.

Share this news item:

Insurance News

Consumer Credit Insurance Decision: AFCA Rules Against Refund Request
Consumer Credit Insurance Decision: AFCA Rules Against Refund Request
04 Nov 2025: Paige Estritori
An Australian man seeking a refund on his paid premium for consumer credit insurance (CCI) has been denied by the Australian Financial Complaints Authority (AFCA). The man argued the insurance was mis-sold to him, claiming he was led to believe the coverage was essential when he acquired it with his credit card in 2015. - read more
Qantas Travel Insurance Honoured with Mozo Experts Choice Award 2024
Qantas Travel Insurance Honoured with Mozo Experts Choice Award 2024
04 Nov 2025: Paige Estritori
Qantas Travel Insurance has been recognised in the 2024 Mozo Experts Choice Awards for Travel Insurance, showcasing its exceptional value for their Annual Multi Trip Travel Insurance policy. - read more
SCTI Highlights Top 10 Costliest Travel Insurance Claims of 2024
SCTI Highlights Top 10 Costliest Travel Insurance Claims of 2024
04 Nov 2025: Paige Estritori
Southern Cross Travel Insurance (SCTI) has unveiled its top 10 most expensive international travel claims made by Australian travellers in 2024, shedding light on the significant financial risks associated with unforeseen incidents abroad. - read more
Significant Rise in Home Insurance Premiums Poses Challenges for Australian Homeowners and Lenders
Significant Rise in Home Insurance Premiums Poses Challenges for Australian Homeowners and Lenders
04 Nov 2025: Paige Estritori
Recent reports indicate that Australian home and contents insurance premiums have surged by up to 65% over the past five years. This substantial increase is outpacing both general consumer inflation and wage growth, leading to significant financial strain for homeowners and potential risks for mortgage lenders. - read more
Insurance Council Advocates for Strata Law Reforms to Mitigate Rising Premiums and Building Defects
Insurance Council Advocates for Strata Law Reforms to Mitigate Rising Premiums and Building Defects
04 Nov 2025: Paige Estritori
The Insurance Council of Australia (ICA) has called for urgent reforms to strata laws in response to escalating insurance premiums and the financial burden of building defects, which are costing residential apartment owners approximately $1.3 billion annually. - read more
Click for more Insurance News


Jetski Insurance Articles

Top JetSki Safety Tips Every Australian Rider Should Know
Top JetSki Safety Tips Every Australian Rider Should Know
Jetskiing is an increasingly popular water sport enjoyed by many Australians, with the country's vast coastline offering a playground for both adrenaline seekers and those looking to enjoy a day out on the water. In the excitement of zipping across the waves, safety can sometimes take a backseat, which should never be the case. Understanding and adhering to safety guidelines is crucial to ensure that every ride is as safe as it is enjoyable. - read more
Common Mistakes to Avoid When Making a JetSki Insurance Claim
Common Mistakes to Avoid When Making a JetSki Insurance Claim
Jet skiing is an exhilarating water sport enjoyed by many Australians. Whether you are a seasoned rider or a beginner, having adequate insurance for your jet ski is crucial. - read more
Understanding Jet Ski Insurance: What You Need to Know
Understanding Jet Ski Insurance: What You Need to Know
Jet ski insurance is an essential coverage option for anyone who owns a jet ski. While some jet ski owners may not see the need for insurance, it is important to understand the risks involved in owning a jet ski without insurance and the legal implications of not having coverage. - read more
Essential Tips for Choosing the Right Jet Ski Insurance Plan in Australia
Essential Tips for Choosing the Right Jet Ski Insurance Plan in Australia
For many Australians, a jet ski is a source of exhilarating aquatic adventures and cherished memories with family and friends. As much as jet ski ownership brings joy and excitement, it carries inherent risks and responsibilities. One crucial aspect of responsible ownership is ensuring that you are adequately protected with the right jet ski insurance coverage. - read more
Comprehensive vs. Third Party Jet Ski Insurance: What You Need to Know
Comprehensive vs. Third Party Jet Ski Insurance: What You Need to Know
Having the right jet ski insurance is crucial for any Australian jet ski owner. It's not just about complying with legal requirements but also ensuring peace of mind when you're out enjoying the water. - read more


Your free JetSki insurance quote comparison starts here!
First Name:
Postcode:

Insurance quotes are provided free and without obligation by a specialist from our national broker referral network. See our privacy statement for more details.


Knowledgebase
Moral Hazard:
The concept that individuals may take on more risk when they do not bear the full consequences of that risk, often relevant in insurance scenarios.

Quick Links: | Jet Ski Insurance | Jet Ski Insurance Quotes | Personal Watercraft Insurance | PWC Insurance Australia | Cheap Jet Ski Insurance | Comprehensive Jet Ski Insurance | Jet Ski Liability Insurance | Third Party Jet Ski Insurance | Insurance For Seadoo | Insurance For Yamaha Jet Ski | Best Jet Ski Insurance Australia
This website is owned and operated by Clark Family Pty Ltd (ACN 010 281 008) as Trustee for the Clark Family Trust (ABN 35 957 893 714), 43 Larch Street Tallebudgera QLD 4228. Clark Family Pty Ltd is an Authorised Representative (AR 1298860) of Unique Group Broker Services Pty Ltd (AFSL 509434) for financial product referrals and an Authorised Credit Representative (ACR 401491) of Saccasan Pty Ltd (ACL 386297). Check our licensing details on the ASIC registers: Clark Family Pty Ltd ACR, Clark Family Pty Ltd AR, Saccasan Pty Ltd, Unique Group Broker Services.
IMPORTANT: We do not provide financial product advice or credit assistance. We act solely as an introducer and refer enquiries to licensed third-party intermediaries, insurers, and lenders - with whom you can then deal directly. We may receive a fee or commission from these third parties in consideration for the referral. Before any action is taken to obtain a product or service referred to by this website, advice should be obtained (from either the third party to whom we refer you or from another qualified intermediary) as to the appropriateness of obtaining those products having regard to your objectives, financial situation and needs. Whilst we have our own process for validating the legitimacy of our referral partners, you should always verify the credentials of your financial adviser before proceeding with recommendations that they may present. Visit the ASIC website for further information.