SAVE ON FINANCE offer a wide range of insurance products to assist you safeguard your assets and personal circumstances. You may also be able finance the insurance premium on the credit contract. Ask a us today.
When you finance the purchase of a motor vehicle, bike, boat, or caravan it is usually a requirement of the loan contract or lease to have the security comprehensively insured at all times during the contract term. As a consequence, you must organise insurance before delivery by transferring your current insurance or arranging new cover. You can arrange comprehensive insurance from the insurer of your choice, or ask SAVE ON FINANCE to provide a competitive quote.
You should read the Product Disclosure Statement for the product you intend to purchase so that you understand exactly what is covered, the benefits for each level of cover, and what the limits and exclusions are.
Motor vehicle warranty insurance is an insurance policy purchased by you to minimise the cost of replacing or repairing motor vehicle parts in the event that they are faulty or damaged, subject to specific limits. If a vehicle meets certain qualifying criteria, a vehicle warranty can be purchased for various periods ranging from 12 months to 36 months. In some cases, a warranty may be purchased prior to the expiry of the manufacturers extended warranty so that you maintain continuity in your protection. Ours includes a Roadside assist program, Australia wide.
Vehicle breakdowns are annoying at best and financially disastrous at worst. Vehicle warranty insurance will enable you to drive with confidence knowing that if your vehicle suffers a major breakdown you’ll be covered for the specified repairs which you can usually get done at your local licensed garage or dealer.
Loan Protection Insurance
Consumer Credit Insurance is designed to give you and your family peace of mind. In the event of an accident, sickness, involuntary unemployment, death and trauma, this insurance will cover your loan repayments, subject to the limits of the policy.
Gap Cover – Short Fall Insurance
Gap Insurance protects you by paying the shortfall amount owed to the credit provider in the event that you have a total loss due to accident, theft or damage, and the amount received from the comprehensive insurer is inadequate to finalise the loan on the vehicle.
When you borrow money to purchase a vehicle you may be exposed to this insurance shortfall or gap. This gap is the difference between the insured value of the vehicle and the remaining balance required to finalise the loan or lease. Delivery charges on the new vehicle, CTP, registration are also covered.
Gap Insurance is only available when you enter into a new finance contract at the point of purchase and the vehicle or asset is comprehensively insured.
Today most comprehensive insurance policies are market value policies; making the purchase of gap insurance an important product to consider.
Please ensure you have received, read and understood the Product Disclosure Statement and Policy Wording (PDS) and what the limits and exclusions are for each product before you purchase them.
It is important to note:
- You cannot be forced to take out any type of insurance
- You cannot be forced to take out insurance with a particular insurer
- If you purchase an insurance policy and decide within 14 days that it doesn’t meet your needs, for whatever reason, you can cancel for a full refund less any taxes or duties that the insurer cannot recover. This is called the Cooling Off Period.
- If you have any queries or a complaint about an insurance product offered to you then follow the complaint handling procedures detailed. For these and more insurance options at great rates call us today or apply online.