Car Finance Insurance
Protect your vehicle finance loan against unexpected events. Our comprehensive car finance insurance covers your payments if you lose your job, become ill, or face other difficulties.
Whether you're financing a brand new car worth $60,000 or a reliable vehicle for $20,000, car finance insurance ensures your vehicle isn't repossessed if something happens to you. Combine it with GAP insurance for complete vehicle loan protection.
Why Choose Car Finance Insurance?
- Protect your vehicle and your credit - keep your car and avoid repossession if income is disrupted
- Works seamlessly with dealerships - most car finance providers recognise and support our insurance
- Combine with GAP insurance - get complete protection for new car purchases and financed vehicles
- Covers redundancy, illness, and death - comprehensive protection for all life scenarios
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Vehicle Loan Protection Features
Payment Protection
Monthly car finance payments are covered if you lose your job, become ill, or face redundancy. Coverage continues until you return to work.
Keep Your Vehicle
If you can't make payments, insurance covers them so your car doesn't get repossessed. Your transport and livelihood remain secure.
Death Cover
If you pass away, the outstanding car finance balance is paid in full. Your family inherits the vehicle with no debt attached.
Flexible Coverage
Choose individual covers (redundancy, illness, death) or combine them. Customise your protection based on your situation and finance term.
What is GAP Insurance and Why You Need It
GAP insurance (Guaranteed Asset Protection) covers the financial gap between your car's insurance payout and the outstanding finance amount if your vehicle is written off.
Real-World Example:
You purchase a car for $45,000 with finance over 5 years.
After 2 years, it's worth $30,000 but you still owe $32,000.
Your car is written off in an accident.
Your car insurance pays $30,000 (current value), but you still owe $2,000 on the finance.
GAP insurance covers that $2,000 shortfall.
Benefits of GAP Insurance:
- Financial Protection: Eliminates the gap between insurance payout and loan balance
- Peace of Mind: No surprise debt after your car is written off
- Essential for New Cars: Especially important in first 3 years when depreciation is fastest
- Affordable Premium: Usually costs $200-400 for 5-year protection on a $45,000 vehicle
- Covers Write-offs Only: Applies when vehicle is deemed uneconomical to repair
What Happens If Your Car Is Written Off?
Report to Your Insurance Company
Immediately notify your car insurer of the accident or damage. They'll assess the vehicle and determine if it's a write-off or repairable.
Car Insurance Pays Out
Your car insurance pays the current market value of the vehicle (typically 20-30% less than purchase price for newer cars).
Finance Company Still Demands Full Amount
Your car finance lender (bank or dealer) still expects you to pay the full outstanding loan balance, regardless of insurance payout.
GAP Insurance Covers the Shortfall
GAP insurance pays the gap between the insurance payout and the outstanding loan balance, protecting you from debt.
How Car Finance Insurance Works With Dealers
Direct Cooperation
Most dealerships and finance companies recognise our insurance and actively support it. We work with your lender to ensure smooth claims processing.
Seamless Payouts
When you claim, we pay directly to your finance company or lender, ensuring your loan is kept current and protecting your credit rating.
No Dealer Commissions
We sell directly to consumers with no dealer markups. You save money by getting insurance straight from the provider, not through dealership extras.
Dealership & Finance Company Support
Many car finance providers now recommend payment protection insurance to their customers. Our insurance works within the finance agreement structure.
Common Finance Companies We Work With:
- • ASB Finance
- • BNZ Finance
- • Westpac Finance
- • ANZ Finance
- • Dealer finance arms
If your finance provider isn't listed, contact us - we likely support them or can arrange coverage.
Explore Other Insurance Types
Personal Loan Insurance
Protection for personal loans, credit cards, and general borrowing.
Home Loan Insurance
Mortgage protection for homeowners up to $500,000 coverage.
GAP Insurance
Vehicle shortfall cover if your car is written off.
Redundancy Cover
Job loss protection for loan and bill payments.
Protect Your Car Finance Today
Get comprehensive car finance and GAP insurance in one quote. No broker fees, quick approval, and coverage starts immediately.
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