Personal and Business Insurance Brokers in Queensland

A Product Disclosure Statement, or PDS, is provided with every insurance policy that issued in Australia. This document is an important part of your policy and a client must be familiar with and aware of its contents to ensure they understand their insurance policy entirely. In this blog, Fitton Insurance Brokers provides a break down of what a PDS is, and how it affects your insurance coverage.

What is a Product Disclosure Statement?

A PDS is a detailed document laying out the terms and conditions of your policy. The aim of a Product Disclosure Statement is to provide you as well as the insurer with adequate protection in case of a dispute.

A PDS is a document which Australian insurers are required by law to provide to customers before an insurance policy is issued. Your PDS should be read in conjunction with your Policy Schedule or Certificate of Insurance document.

What to Look for in a PDS

While there is no substitute for reading a PDS in its entirety, there are certain aspects of which it is particularly important for a client to be aware:


Read this section carefully to know which of your assets are included or excluded from coverage.

Limits and Exclusions

This section will include monetary limits for items which are covered as well as valuables which are not covered at all by the policy.

Cancellation/Cooling Off Period

If you decide to change your mind, this section will specify how much time you have to cancel your policy if you are dissatisfied with the policy and would like to cancel.


A PDS will specify how you should go about filing your claim and the documentation and evidence you will need to include in order to process your claim.


A PDS must define all technical terms related to your policy so you can completely understand the policy.

Terms and Conditions

This section will lay out the factors which render your policy void, as well as information you are required to disclose to your insurer.

Complaints Process

The PDS is required to include information on how to make a formal complaint in the event that you are dissatisfied with the insurer’s service.


If you would like to cancel your policy beyond the cooling off period, the PDS must specify how you should go about cancelling your policy.

Comprehensive Insurance for Real Estate and Motor Vehicles

Having trouble understanding a PDS? Contact Fitton Insurance Brokers today for assistance from our friendly team of experts who are committed to transparency and reliability.