Asset Protection Insurance

Asset Protection also known as ‘Gap Cover’ insures against any shortfall after a total loss event that is not covered by your comprehensive car insurance.

This policy is very important when there is finance on the vehicle and the balance owing is higher than the insurance payout. This is very common when purchasing a car with little or no deposit.

The combination of initial “On Road Costs”, accrued interest on the loan & the depreciating value of the vehicle may result in a shortfall, which can total up to thousands of dollars.

Without Gap Cover this shortfall will need to be paid immediately to the finance company with your own money.

Benefit of Asset Protection (Gap Cover):

  • Eliminates any debt of the vehicle you may have in the event of total loss which is not covered by your comprehensive insurer.
  • The once off premium covers you for the whole finance term and can be financed
  • Additional benefit (up to 5K) above the shortfall payout will be paid directly to you to be used for any purpose you choose.
  • Protects your credit rating should you not have funds to cover the shortfall.

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Some of the assets that we finance include:

Agriculture Audio Visual equipment Bus & Coach Boats (Marine)
Butchery Equipment Coffee Machines Cars Cranes Concrete pumping eqip
Earth moving equip Forklifts Food processing equip Fitout (Hospitality & franchise)
Poker machines (Gaming) IT hardware Motor vehicles Mining equipment Medical equipment
Office equipment Photocopiers Point of sale systems Trucks & Trailers Telephone systems (VOIP & PABX) Vending machines