Aussie Equipment Loans has a wide range of insurance products to protect you, your family, and your new purchase. Underwritten by some of the world’s biggest companies, you can feel confident that Aussie Equipment Loans has the strength, size & support, together with a refreshingly enthusiastic level of customer service for those times of need. Aussie Equipment Loans strongly encourages customers to consider loan protection. This cover will pay your loan repayments if you cannot work due to sickness, injury or disease, or if you become involuntarily unemployed. It will even pay your outstanding balance up to the policy limit should you die. This cover will not effect, and is in addition to any of your sick leave or compensation entitlements, and gives protection to your family or loan guarantor rather than passing the burden of debt. Also known as GAP cover, this is another popular and relatively cheap form of valuable cover Also known as Shortfall insurance, this is another popular and relatively cheap form of valuable cover. Your insured item has been written off, either stolen or damaged beyond repair. Your comprehensive insurer pays the market or agreed value, but another $3,300 is needed to pay out your loan. GAP insurance could save you from a huge financial burden. Cover is provided for 'the gap' up to $10,000. And the option of extra cover for any additional costs due to the inconvenience of the total loss, such as registration & insurance costs for the replacement vehicle. Several factors are involved, borrowing to pay for various costs associated with buying a new car etc. such as on road costs, and the value falling faster than the loan balance, especially if it’s a brand new. As soon as you drive that new car out of the car yard gates, you’ve usually lost a few thousand dollars in car value instantly. Generally, your maximum exposure to 'the gap' will occur from the day you take delivery to perhaps the end of the second or third year of the loan and depends upon the term of your loan. No, you pay one premium, once only and you are covered for the duration of your loan. Click here for more information - http://www.aussieequipmentloans.com.au/insurance.html
Loan Protection
Shortfall Insurance
GAP Cover
Problem
Solution
Why does the 'gap' occur?
How long is there a 'gap'?
Do I have to pay a premium every year?
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Cover is available for joint owners/applicants.
Financed as part of your loan, and is usually only an extra few dollars per week.
Covers the whole term of the loan.