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Eyewear Insurance Product Disclosure

If Your Eyewear is economically repairable VSC will repair Your Eyewear. If Your Eyewear is beyond economical repair then VSC will at its discretion replace it with Eyewear of identical prescription, type and quality.


When You apply for cover, please carefully read the Product Disclosure Document (PDS). VSC will confirm Your cover and forward a Schedule of Cover to Your nominated email address or if You have no email address by mail, which entitles You to claim under the policy for the Eyewear as stated on the Schedule of Cover.

If You require any further information about the policy or require confirmation of a transaction please contact the Administrator on 1300 133 234.


In the event of any incident, which may give rise to a claim, go to www.nua.com.au (24 hours 7 days a week) to log your claim or call the Administrator on 1300 133 234 between the hours of 9am and 5pm Monday to Friday (excluding Public Holidays and the working days between the period of Christmas and New Year). Any claim for Theft must be reported to the appropriate Police authorities within 24 hours of the incident. All repairs must be approved by the Administrator in writing prior to any work being undertaken. If any repair works are commenced without the approval of the Administrator NUA will not be liable for any costs associated with these works. To avoid disappointment please contact the Administrator immediately in the event of any incident which may give rise to a claim. You will be required to pay a $30.00 Excess on each and every repair or replacement claim.


Cancellation by You:

You may cancel this plan at any time by giving NUA written notice. You will be entitled to a refund for the remaining period of cover less NUA’s cancellation costs of $10.00 (ten dollars only) and less any authorised or paid claims.

Cancellation by VSC:

VSC may cancel this policy if You:

• Made a misrepresentation to VSC before entering into this policy.

• Fail to comply with the duty of disclosure or the duty of utmost good faith.

• Fail to comply with a provision or condition of the policy.

• Make a fraudulent claim under this or any other insurance policy.

If VSC cancels Your policy, NUA will give written notice to You personally or by email to Your last known address. You will be entitled to a refund for the remaining period of cover less any authorised or paid claims.


Your premium is calculated taking into account the value of Your Eyewear. The premium payable will be shown on Your Original Purchase Invoice. Your total premium will include all government charges and GST. Before NUA can give You any insurance cover, the premium for Your policy must be paid.

The amount of premium payable by You will be calculated and provided to You before You acquire the cover.


Premiums are subject to Goods and Services Tax (GST) and stamp duty imposed by Commonwealth and State Governments. GST will also affect any claim You make under the policy. Generally, Your premiums are not tax deductible and claims payments are not assessable income for tax purposes unless You purchase Your policy for business purposes. This taxation information is a general statement only. You should seek professional taxation advice for information about Your personal circumstances.


Any headings or sub-headings are for guidance only and have no effect on the meaning of the text of this insurance, nor do they claim to be an exact or full description of such meaning.


Provided You have paid the premium, VSC agrees to indemnify You, for the cost of repair or replacement of Your Eyewear in the event of Accidental Damage or Theft, subject to Exclusions in Section 3 and the Conditions in Section 4 below.

VSC’s maximum Limit of Liability for any one claim shall be up to $2500.00 (inclusive of GST) of each and every claim in total, but not exceeding the equivalent replacement value of Your Eyewear as evidenced on Your Original Purchase Invoice.


The words or phrases described below shall have the following meaning wherever used in this insurance.

Accidental Damage

Means…Sudden and unforeseen damage to the Eyewear.


Means…National Underwriting Agencies Pty Ltd, P.O. Box 246, Balwyn VIC 3103, who has been appointed as the Administrator for all business, declared under the contract.

Authorised Repairer

Means…The repairer as nominated by The Administrator


Means…The first $30.00 (inclusive of GST) of each and every repair or replacement of Your Eyewear. This amount shall be Your responsibility and is payable to the Authorised Repairer/Administrator.


Means…A single pair of prescription spectacles or prescription sunglasses purchased by You as new as evidenced on Your Original Purchase Invoice as specified on Your Schedule of Cover.


Means…The person named as the Eyewear recipient in the Schedule of Cover. If the person named as the Eyewear recipient is a minor, the cover will be deemed to be provided to the parent or guardian of the minor.


Means… Virginia Surety Company, Inc. (VSC) ARBN 63 080 339 957 AFS Licence No. 245579 of PO Box 246, Balwyn VIC 3103.

Limit of Liability

Means… The maximum amount the Insurer will pay to repair or replace Your Eyewear per claim will be the lower of the purchase price of Your Eyewear as evidenced on Your Original Purchase Invoice or $2,500 (inclusive of GST).


Means…Participating stores of the following brands: OPSM, Laubman & Pank Optometrists.

Original Purchase Invoice

Means…The Tax Invoice provided at the time You purchase Your EyewearSchedule of Cover

Means…The numbered document, which is emailed to Your email address as provided by You or in the event that You do not have an email address the document will be mailed to You. The Schedule of Cover lists the number of Your Original Purchase Invoice, contract terms and other vital information. If the information on Your Schedule of Cover is not correct, immediately contact The Administrator on 1300 133 234.

Territorial Limits



Means…The dishonest removal of Your Eyewear by any third party with the intention of depriving You permanently of its possession.


VSC will not indemnify You for:

1. Any claim for Theft unless reported to the appropriate police authorities within 24 hours of the incident.

2. Theft from an unattended vehicle unless the Eyewear is completely hidden from view within a fully locked and secure vehicle where violent or forcible entry to the vehicle has been used. A copy of the repairer’s account for such damage to the vehicle must be submitted with any claim hereunder.

3. Theft from any premises unless there is evidence of violent or forcible entry to or exit from the premises.

4. Theft when left unattended in any public place, in or on any conveyance (unless cover is afforded within an unattended vehicle as provided for within Exclusion 2 above), or where You have not exercised all reasonable due care and attention.

5. Theft or Accidental Damage where no actual known identifiable event can be attributed to causing the Theft or Accidental Damage.

6. Any claim where You are unable to return Your damaged Eyewear for repair, You are responsible for the delivery or the cost of delivery of Your Eyewear to the Authorised Repairer for repair.

7. Any delivery cost for the return of Your repaired or replaced Eyewear to You.

8. Cosmetic damage where it does not affect the operation, function or safety of the Eyewear.

9. Any discolouration, wear and tear or gradual deterioration of the Eyewear, from whatever cause.

10. Any cleaning, adjustments or fittings of any Eyewear.

11. Any eye or vision testing.

12. The first $30.00 (inclusive of GST) of each and every repair or replacement of Your Eyewear. Payment of this Excess amount shall be Your responsibility.

13. Any consequential loss or damage arising from not being able to use Your Eyewear or otherwise incurred.

14. Any claim arising from fire.

15. Any claim arising from abuse, misuse or neglect of the Eyewear.

16. Any repairs or alterations carried out by persons not authorised by NUA.

17. Repair or Replacement of the Eyewear due to a change in Your optical prescription or any other medical reason.

18. Any claim for accessories, additional equipment or decorative embellishments attached to Your Eyewear.

19. Any defect which is the subject of a manufacturer’s recall, design fault, manufacturing defect or otherwise covered under a manufacturer’s guarantee or warranty.

20. Any claim relating to physical loss of Your Eyewear.

21. Any claim for the total loss of use of Your Eyewear or the repair of Your Eyewear due solely to the non-availability of replacement or substitute parts. NUA will endeavour to supply the identical parts but if they are not available, NUA will consider the Eyewear uneconomical to repair and will replace them with an alternative or similar brand, type and value and of the same prescription.

22. Any claim where reasonable precautions have not been taken to protect Your Eyewear or You have failed to follow the manufacturer’s clean and care instructions.

23. Any claim which is not reported to the Administrator within 30 days from the expiry of Your policy.

24. Any legal liability directly or indirectly caused by or contributed to or arising from:

a. ionising radiation or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel.

b. the radioactive, toxic, explosive or other hazardous properties of any explosive nuclear assembly or nuclear component thereof.

25. Any loss or damage or liability directly or indirectly occasioned by, happening through or in consequence of war, terrorism, invasion, acts of foreign enemies, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection, military or usurped power, or confiscation or nationalisation or requisition or destruction of or damage to property by or under the order of any government or public or local authority.



You must take all reasonable precautions to protect Your Eyewear from Damage and Theft.

You must take all reasonable precautions to prevent or reduce any claim unless VSC agrees otherwise.


If any claim made is in any respect fraudulent or if any fraudulent means or devices are used by You or anyone acting on Your behalf to obtain any benefit under this insurance, or if any loss hereunder is occasioned by Your wilful act or with Your connivance, VSC, without prejudice to any other right(s) that it might have under this insurance, shall be entitled to refuse to pay such claim.


In the event of any incident, which may give rise to a claim, You must follow the instructions in the ‘How To Make a Claim’ section on page 7 and forward all supporting documentation as required by the Administrator.


VSC may at its own expense take such proceedings as it thinks fit in Your name to enforce any rights and remedies against, or obtain relief or indemnity from, any other person or entity to which VSC shall be or may become entitled or subrogated under this insurance and You shall at VSC’s request and expense do such acts and things as may be reasonably required by VSC for that purpose.

Other insurance

If, at the time of the occurrence, there shall be any other insurance covering the same, VSC shall not be liable to pay or contribute more than VSC’s rateable proportion.

No assignment

The Insurance policy is not assignable by You except with the written consent of the Administrator.


The observance and fulfilment of the conditions of this insurance insofar as they relate to anything to be done or observed by You shall be a condition precedent to VSC’s liability under this insurance.

In issuing the cover, National Underwriting Agencies Pty Ltd acts under an authority granted to it by VSC and so National Underwriting Agencies Pty Ltd is acting on behalf of VSC and not for You the intended Insured.


1. Eyewear Insurance is not compulsory. If You choose to insure, You can insure with an insurer of Your choice.

2. The Policy Wording in addition to the Schedule of Cover forms Your contract of insurance with VSC.

3. Nothing in this PDS operates, is intended to operate or have the effect of operating, to exclude, limit, restrict or modify your consumer guarantees under the Competition and Consumer Act 2010 (Cth).

4. If the insurer becomes insolvent, the insurance policy may be protected under the Federal Government’s Financial Claims Scheme administered by the Australian Prudential Regulation Authority (APRA). This means that if You meet certain eligibility criteria You may receive payment under the scheme. For more information please refer to the following website: https://www.fcs.gov.au.

*Eyeware Protection Plan is issued by National Underwriting Agencies Pty Ltd (NUA) Licence 246229 ABN 60 089 657 849 under binding authority from Virginia Surety Company Inc. Licence 245579 ARBN 080 339 957.

In arranging this insurance Luxottica Retail Australia Pty Ltd ABN 26 000 025 758 trading as Laubman & Pank Optometrists is an authorised representative of NUA. This advertisement does not take into account your personal objectives, financial situation or needs. Please consider whether this product is appropriate for you by reading the Product Disclosure Statement (PDS) before deciding whether to arquire, or to continue to hold the product.

ABN 60 089 657 849 AFS Licence Number 246229

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