It’s not insurance – it is our Loss and Damage Cover, whereby we indemnify our customers for any loss of, and damage to, the vehicle, during the Term. We also indemnify the customer for all property damage arising out of the use of the vehicle, up to a maximum of $10m, during the Term.

• Our Loss and Damage Cover is optional. However, if you do not take out our Loss and Damage Cover, you will be required to take out comprehensive rideshare insurance in accordance with the terms of the Flexi-Own 2.0 Agreement. You will also be liable for the Splend Management Fee. The Splend Management Fee is a new small weekly fee of ($35 incl GST) for Splend to manage and administer the relationship between the you, Splend, and your third party insurer (if you have one). This fee is waived if the you elect to take out Part C Loss & Damage Cover with Splend.

• However, the cover is subject to various exclusions, similar to similar loss and damage product offered by rental car companies, such as:

  • Where you have driven the vehicle under the influence of alcohol or drugs, or where the damage to the vehicle was occasioned by a breach of road rules

  • Customers should check the terms of the Flexi-Own 2.0 Agreement to check the exclusions and to consider whether the Loss and Damage Cover is right for them

• The Loss and Damage Cover is also subject to various rules, such as the requirement to notify Splend of any accident within 24 hours. Again, these requirements are clearly set out in the Flexi-Own 2.0 Agreement and Splend’s customer service team is also happy to help.

The Splend Management Fee is a new small weekly fee of ($35 incl GST) for Splend to manage and administer the relationship between the you, Splend, and your third party insurer (if you have one). This fee is waived if the you elect to take out Part C Loss & Damage Cover with Splend.

The Loss and Damage Cover comprises the following costs:

• Loss and Damage Payment – this is a weekly payment and represents the “cost” of the coverage / indemnification we provide in the event of an accident or other loss

• Loss and Damage Waiver – this payment is $1,500 and is required for Splend to waive its rights to seek recovery from the customer in the event of damage or loss (subject to the terms and conditions of the Flexi-Own 2.0 Agreement) so that the customer can get the vehicle back on the road as soon as possible because Splend will handle the rest

• Loss and Damage Waiver Reduction Fee – optional weekly payment, payable by the customer to Splend, which reduces the Loss and Damage Waiver payable by the event of an Accident or damage to the vehicle

Ensure everyone is safe. If serious injuries, call 000 immediately. Then call Splend on 1800 775 363 and follow prompts to report an accident. All damage must be reported within 24 hours.

As our loss and damage cover is not insurance, there is no excess payable however, a standard $1,500 Loss and Damage waiver applies per claim. This allows Splend to indemnify you immediately and get you back on the road. For not-at-fault claims, the waiver may be partly or fully refunded if Splend recovers costs from the at-fault party.

• For Flexi Own contracts from 1 October 2025, you can pay a weekly Loss and Damage Waiver Reduction Fee to reduce your waiver to as low as $500. See details here.

Yes — you can lower your accident cost from $1,500 to as little as $500.

• The standard Loss and Damage Waiver is $1,500. This is the maximum you would need to pay if your vehicle is damaged in an accident where you are at fault, or if Splend cannot recover the costs from the at-fault party.

• If you choose to pay the optional Loss and Damage Waiver Reduction Fee each week, this amount can be reduced to as low as $500.

• In simple terms, the weekly reduction fee gives you extra protection by lowering the amount you’d have to contribute if your car is damaged.